+

Banks directed not to fine borrowers for lockdown delay

File image: Nepal Rastra Bank

Kathmandu, May 18

The central bank of the country, Nepal Rastra Bank, has directed banks and financial institutions not to fine borrowers for their delay in repaying the loans due to the lockdown and prohibitory orders in various districts of the country.

The directive comes at a time when most districts of the country have imposed full or partial lockdown or prohibitory orders to control the spread of the coronavirus in the country.

Conducting the third quarterly review of the monetary policy for the current fiscal year, the banking regulator urged the banks not to collect any extra charge during the lockdown.

The central bank said the banks and financial institutions could not issue any notice regarding the auction or confiscation during the lockdown and prohibitory and until the next one month after its end also.

Meanwhile, the bank also announced some concessional packages regarding the issuance of loans for the opening of oxygen plants and purchase of other related equipment.

React to this post

Conversation

New Old Popular

Subscribe to our newsletter

Subscribe to Onlinekhabar English to get notified of exclusive news stories.