Tag Archives: RMA

  A government appointed taskforce compromising of civil servants said that the Private sector and private consumption are the main causes of the rupee crisis. This has led to a severe credit crunch especially for the private sector bringing the Bhutanese economy to a virtual halt. However, a study by …

  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 …

  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 …

Do not confuse private individual consumption and private sector consumption, said the central bank Governor Daw Tenzin stressed at a conference with the private sector yesterday, here in the capital. He was referring to the cause of Indian Rupee (INR) crunch exacerbating by the day for which the private sector …

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 …

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 …

Financial Institutions say they may not be able to issue any new loans for months and even years under RMA’s latest liquidity or borrowing restrictions. This comes in the backdrop of the already existing housing and transport loan restrictions. Bhutan’s Financial Institutions are heading for a deep freeze as a …

The Indian ambassador to Bhutan, Pavan K Varma, said that the Government of India (GoI) will standby Bhutan to help tide over the rupee crisis. This, the Indian ambassador highlighted in an interview with The Bhutanese. The Ambassador said “Bhutan enjoys bipartisan support across political parties in India and India …

  Indians holding Bhutanese bank accounts across the border are encouraging Bhutanese to get visa and maestro cards from Druk PNB and Bank of Bhutan to withdraw rupee from Jaigoan atms for a commission of at least 5%, this paper has found. Many small Bhutanese businessmen, mainly who run paan …

Bhutan National Bank Limited (BNBL) made a net profit of Nu 510.3mn last year, an increase by Nu 259mn from the year 2010. Chairperson of the board of directors, Kunzang Dechen said that apart from being “delighted”, the management has cut down on a lot of costs. “Income from foreign …