Kathmandu. Nepal Rastra Bank (NRB) has extended the facility of rescheduling or restructuring of loans to real estate companies.
The central bank has provided this facility by amending the unified directive issued for banks and financial institutions. Now, if the banks recover at least 10 percent of the interest to be paid with the request of the borrower with the analysis of aspects including revised business plan and cash flow in the case of loans related to land development and building construction, registered with the agency approved by the Government of Nepal and in the case of loans issued to firms or companies related to land development and building construction, then reschedul or restructure the loan for one time, subject to certain conditions based on necessity and justification. they can.
Such are the conditions
- Such rescheduling or restructuring should be done by mid-September 2082.
- Loans so rescheduled or restructured should be classified into at least the same category as they were classified in mid-March 2081.
- The loan loss arrangement made prior to rescheduling or restructuring cannot be written back.
- Proof submitted to the concerned authority for permission for land development and building construction will also be required.
