KATHMANDU, Oct 3: ICRA Nepal Ltd (ICRA Nepal), a credit rating agency, organized an interaction with financial journalists on Tuesday.
The interaction organized on the occasion of World Investor Week 2018 and was attended by over 25 financial journalists. Speaking at the interaction, Barsha Shrestha, the business head of ICRA Nepal, said that credit rating plays an important role in the financial markets by helping regulators, investors, lenders, issuers and depositors by providing the credit worthiness of any institution or issuance.
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Also speaking at the program, Kishor Prasad Bimali, Assistant Vice President of ICRA Nepal, said that the ICRA Nepal has qualified analysts to meet the rising demands of credit rating following the recent rule introduced by Nepal Rastra Bank (NRB) requiring external borrower rating for sanction or renewal of bank lines of credit amounting to or greater than Rs 500 million.
The new rule announced through the monetary policy would require rating of estimated 1,600 borrowers in the country. “We have over 300 financial analysts with ICRA Limited India and we can seek their help when there is the need,” said Bimali. ICRA Nepal is a subsidiary of ICRA Limited, India-based rating company which is a Moody's Investor Service Company.
