NRB fixes ceiling at Rs 500,000 on loans to be issued by BFIs by using digital platforms

Published On: February 12, 2022 07:05 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Feb 12: Nepal Rastra Bank (NRB) permitted the banks and financial institutions (BFIs) to issue loans of up to Rs 500,000 to their customers via digital platforms.

By enforcing a revised guideline on Friday, NRB has decided to allow the BFIs to issue the aforementioned amount in loan to the professionals who maintain the deposits on a periodic basis in the banks concerned. The digital loan amount has been fixed at a maximum of Rs 200,000 to other borrowers.

The borrowers can apply for such loans through mobile apps or the web portal maintained by the BFIs concerned. While issuing such loans, the BFIs will be liable to pay related service charges to the payment service providers.

According to the central bank, the maturity period of such loans will be a maximum of three years. The borrowers have been allowed to settle the loan amount either at once at the end of the maturity period or on installment basis.  


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