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<p style="text-align: justify;">NRB has modified CRR determining technique, time-period to maintain the reserve and penalty on being unable to maintain the reserve through the circular. Cash Reserve Ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank. According to the current mechanism, commercial banks, development banks and finance companies need to maintain 6 percent, 5 percent and 4 percent CRR respectively with NRB.</p>
<p style="text-align: justify;">As per the new mechanism, BFIs need to maintain weekly determined CRR for two weeks. Earlier, the CRR maintaining period was one week. Moreover, NRB will monitor the maintained reserve on daily basis. The new mechanism has made mandatory provision of depositing 70 percent of such daily maintainable reserve to NRB or any ‘A’ level bank authorised by NRB. The circular mentioned of determining the reserve amount based on the average of domestic deposits of preceding one week of the latter two weeks of maintaining CRR.</p>
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
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include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
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September 16: Nepal Rastra Bank (NRB) has modified the mechanism on mandatory cash reserve ratio to be maintained by banks and financial institutions (BFIs). Earlier, NRB has announced of modifying the CRR determining technique in the monetary policy of the current FY. In this regard, NRB, issuing a circular, has started implementation of the mechanism.
NRB has modified CRR determining technique, time-period to maintain the reserve and penalty on being unable to maintain the reserve through the circular. Cash Reserve Ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank. According to the current mechanism, commercial banks, development banks and finance companies need to maintain 6 percent, 5 percent and 4 percent CRR respectively with NRB.
As per the new mechanism, BFIs need to maintain weekly determined CRR for two weeks. Earlier, the CRR maintaining period was one week. Moreover, NRB will monitor the maintained reserve on daily basis. The new mechanism has made mandatory provision of depositing 70 percent of such daily maintainable reserve to NRB or any ‘A’ level bank authorised by NRB. The circular mentioned of determining the reserve amount based on the average of domestic deposits of preceding one week of the latter two weeks of maintaining CRR.
According to the circular, BFIs failing to maintain the CRR will have to pay interest on the short amount as a penalty. “The licence holder BFIs will have to pay interest based on the bank-rate determined by NRB on being unable to maintain the CRR,” states the circular. Presently, such bank-rate is 7 percent.
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include - APP/View/Elements/side_bar.ctp, line 60
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
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file not found!
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'content' => '<p style="text-align: justify;">September 16: Nepal Rastra Bank (NRB) has modified the mechanism on mandatory cash reserve ratio to be maintained by banks and financial institutions (BFIs). Earlier, NRB has announced of modifying the CRR determining technique in the monetary policy of the current FY. In this regard, NRB, issuing a circular, has started implementation of the mechanism.</p>
<p style="text-align: justify;">NRB has modified CRR determining technique, time-period to maintain the reserve and penalty on being unable to maintain the reserve through the circular. Cash Reserve Ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank. According to the current mechanism, commercial banks, development banks and finance companies need to maintain 6 percent, 5 percent and 4 percent CRR respectively with NRB.</p>
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'content' => '<p style="text-align: justify;">September 16: Nepal Rastra Bank (NRB) has modified the mechanism on mandatory cash reserve ratio to be maintained by banks and financial institutions (BFIs). Earlier, NRB has announced of modifying the CRR determining technique in the monetary policy of the current FY. In this regard, NRB, issuing a circular, has started implementation of the mechanism.</p>
<p style="text-align: justify;">NRB has modified CRR determining technique, time-period to maintain the reserve and penalty on being unable to maintain the reserve through the circular. Cash Reserve Ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank. According to the current mechanism, commercial banks, development banks and finance companies need to maintain 6 percent, 5 percent and 4 percent CRR respectively with NRB.</p>
<p style="text-align: justify;">As per the new mechanism, BFIs need to maintain weekly determined CRR for two weeks. Earlier, the CRR maintaining period was one week. Moreover, NRB will monitor the maintained reserve on daily basis. The new mechanism has made mandatory provision of depositing 70 percent of such daily maintainable reserve to NRB or any ‘A’ level bank authorised by NRB. The circular mentioned of determining the reserve amount based on the average of domestic deposits of preceding one week of the latter two weeks of maintaining CRR.</p>
<p style="text-align: justify;">According to the circular, BFIs failing to maintain the CRR will have to pay interest on the short amount as a penalty. “The licence holder BFIs will have to pay interest based on the bank-rate determined by NRB on being unable to maintain the CRR,” states the circular. Presently, such bank-rate is 7 percent. </p>
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<p style="text-align: justify;">NRB has modified CRR determining technique, time-period to maintain the reserve and penalty on being unable to maintain the reserve through the circular. Cash Reserve Ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank. According to the current mechanism, commercial banks, development banks and finance companies need to maintain 6 percent, 5 percent and 4 percent CRR respectively with NRB.</p>
<p style="text-align: justify;">As per the new mechanism, BFIs need to maintain weekly determined CRR for two weeks. Earlier, the CRR maintaining period was one week. Moreover, NRB will monitor the maintained reserve on daily basis. The new mechanism has made mandatory provision of depositing 70 percent of such daily maintainable reserve to NRB or any ‘A’ level bank authorised by NRB. The circular mentioned of determining the reserve amount based on the average of domestic deposits of preceding one week of the latter two weeks of maintaining CRR.</p>
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<p style="text-align: justify;">NRB has modified CRR determining technique, time-period to maintain the reserve and penalty on being unable to maintain the reserve through the circular. Cash Reserve Ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as deposits with the central bank. According to the current mechanism, commercial banks, development banks and finance companies need to maintain 6 percent, 5 percent and 4 percent CRR respectively with NRB.</p>
<p style="text-align: justify;">As per the new mechanism, BFIs need to maintain weekly determined CRR for two weeks. Earlier, the CRR maintaining period was one week. Moreover, NRB will monitor the maintained reserve on daily basis. The new mechanism has made mandatory provision of depositing 70 percent of such daily maintainable reserve to NRB or any ‘A’ level bank authorised by NRB. The circular mentioned of determining the reserve amount based on the average of domestic deposits of preceding one week of the latter two weeks of maintaining CRR.</p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
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Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
