Published by WAM NY Marketing Committee
By Himalayan News Service, August 29,2013, as seen on The Himalayan Times
KATHMANDU: To provide end users micro funds at a lower interest rate, the central bank governor has urged microfinance institutions to consider downsizing their operational expense.
“Microfinance institutions need to look into ways to bring down expenses so that the interest paid by the beneficiaries can be minimised from the current level which is above 25 per cent,” said governor of Nepal Rastra Bank (NRB) Dr Yubaraj Khatiwada, during the launch of the ‘Risk Management Toolkit for Microfinance Institutions’, here, today.
The toolkit, launched by Standard Chartered Bank Nepal (SCBNL) and Rural Microfinance Development Center (RMDC) in technical collaboration with MicroSave India, covers the details of credit, operational, financial and strategic risk management and comprises modules to test the individual institution’s risk exposure.
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