KATHMANDU, July 25: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari has said that special arrangements will be made for borrowers who are in trouble due to various natural disasters.
In the monetary policy for the current fiscal year 2023/24, Governor Adhikari has said that the borrowers who are in trouble will be helped through loan restructuring or any other special arrangement.
Revised interest rate corridor system introduced
Governor Adhikari said that special arrangements are being made to uplift debtors who have been affected by natural disasters or any other calamities and to make them resume their businesses.
An NRB official said that special arrangements will be made for the revival of the industries if they are blacklisted and recover business in case it is collapsed by any natural disaster.
He said that even though the NRB does not regularly study remittances going out of Nepal, it is closely monitoring them. For that, he said a plan will be made to cooperate with other agencies and implementation of 'National Switch' will be carried out to find accurate details.
Regarding the misuse of concessional loans, the NRB official said, "Concessional loans have not only been misused, but have also been put to good use. It is being studied independently. The report will come by mid-August. Based on the same report, we will move forward.” He also said that if concessional loans are found to be misused, the borrower concerned will be charged interest as well.
Governor Adhikari said that the 'threshold' of loans going to share mortgages up to Rs 5 million is going to be reduced. He said that the risk weight of share mortgage loans up to Rs 2.5 million is 100 percent and above that, the risk weight is 150 percent. He also requested everyone not to have any ambiguity regarding the share mortgage loan.
