Kathmandu. KATHMANDU: The government has decided to complete the restructuring or rescheduling of loans of enterprises and enterprises in Ilam and other districts affected by floods and landslides by mid-April.
This provision has been made in the directive issued by the central bank for the implementation of the policy of the first quarter review of the monetary policy. The central bank has made a provision for re-tabulation or restructuring by recovering at least 10 percent of the interest to be paid on the basis of need and justification on the basis of cash flow and income analysis at the request of the borrower. According to the NRB, such facility will be available only once.
Such loan should be rescheduled or restructured by mid-April 2082. Also, the loan rate at the time of rescheduling and restructuring is classified into that category. Nepal Rastra Bank (NRB) has made arrangements to maintain the classification and loan loss provisions in the same category.
Likewise, the NRB has set the limit for personal overdraft loans, collateral loans, property loans, personal term loans, share loans and loans under any heading to Rs 10 million per person. Earlier, the limit was Rs 50 lakh.
The Nepal Rastra Bank (NRB) has made it mandatory for the banks and financial institutions to maintain a hundred percent loan loss in the amount exceeding the specified limit.
Likewise, the fixed liquidity facility rate has been fixed at 5.75 percent, deposit collection rate at 2.75 percent and repo rate at 4.25 percent. Earlier, the fixed liquidity facility rate was 6 percent and the repo rate was 5 percent.
