Minister Adhikari urges NRB to simplify agricultural loans

KATHMANDU: Minister for Agriculture and Livestock Development Ramnath Adhikari has urged Nepal Rastra Bank to simplify agricultural loans.

Speaking in a discussion with NRB Governor Dr Biswo Nath Poudel on Sunday, he underscored the need for an easy procedure for farmers to obtain agricultural credit, stating that banks and financial institutions play a crucial role in poverty alleviation through agro-enterprises.

“I urge the central bank to monitor effectively whether agricultural loans are being properly utilised,” Adhikari said, stressing the need to end the misuse of loans for purposes other than farming.

He added that government-owned banks should increase their agricultural lending and comply with the central bank’s directives on agricultural loans.

Governor Poudel expressed concern over the improper use of current agricultural investments, stating that it is essential to ensure they yield results. He emphasised that without innovation, farmers cannot generate returns from their investments in agriculture.

He also reported hearing during field visits that those working on the land are denied grants, while applicants who submit paperwork receive them.

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