The Royal Monetary Authority (RMA) will soon start a new policy called Inclusive Financial Policy. The policy is to improve the lives of rural people by providing loans.
The central bank plans to reach out to the rural communities through micro financial institutions.
“Through the policy, we are going to register and license micro financial institutions which will be providing loans to the rural communities,” said RMA’s Governor, Dasho Penjore.
RMA also expects to institute priority sector money lending in the future.
Dasho Penjore said the policy would allow them to give credit to the agriculture sector.
Dasho said their emphasis is on His Majesty’s command and come up with a new approach called priority sector lending.
The loan ceiling will be Nu 500,000.
