Tag Archives: RMA

RMA partially loosens its grip on rupee payments

  The Royal Monetary Authority (RMA), at a meeting with the private sector yesterday, announced a host of changes to its earlier circular on the issuance of Indian rupee (INR). One of the major changes was instructions to the private sector to open a rupee account for every manufacturing industry …

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Three crises that created the Rupee crisis

  The rupee crisis is a combination of three other crises affecting the Bhutanese economy. They are namely, the trade crisis, the financial management crisis and also the individual lifestyle crisis. The rupee crisis being an individual lifestyle crisis can be best summed up in the saying, ‘Bhutan is a …

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Private sector hit hard with RMA’s credit crunch

In the aftermath of the Royal Monetary Authority’s (RMA) directive to stall all domestic loans, the majority of the businesses have been affected, and the ripples being felt by the construction industry and car dealers are the worst. The INR crunch makes it even worse. President of the Construction Association …

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Housing loan suspended, 33 people file petition

Thirty-three people whose housing loans were suspended by financial institutions following directives from the Royal Monetary Authority (RMA) have filed a petition to the central bank. This situation arose in the aftermath of the rupee crisis. However, the Thimphu Thromde (TCC) has approved the construction of the petitioners’ houses but …

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