Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has introduced a new provision to provide loans to enterprises and businesses displaced during the construction of Mahendra Highway and Mid-Hill Highway.
The central bank has amended the integrated directive issued in the name of banks and financial institutions to ease the loan of enterprises and businesses displaced due to the construction of these roads. In the case of loans flowing to those displaced enterprises and businesses, the banks and financial institutions may reschedule or restructure the loan subject to the following conditions, upon the request of the borrower, analyze the cash flow and income of the borrower, recover at least 10 percent of the interest that has to be paid on the basis of need and justification.
- Such re-tabulation or restructuring shall be done by the end of July 2083.
- At the time of such re-tabulation or restructuring, the loans shall have to be classified into at least the same class and the loan loss provision shall be maintained.
Earlier, there was no unified system.
