KATHMANDU, June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loans from banks and financial institutions by accepting land as collateral.
A single bench of Justice Ishwar Prasad Khatiwada issued the order keeping in view of the Land Use Regulations, 2022 as a basis. The order stated that stopping the loan disbursement will have an unfitting impact on the citizens’ fundamental rights.
Loan disbursement of banks rises while deposits fall
The apex court has ordered the government to not implement its decision until the case is settled. It has stated that the loan disbursement from banks and financial institutions should not be stopped as the classification of land from the government is less likely to be accomplished anytime soon.
Earlier, the Ministry of Land Management had written to its line agencies preventing the sale of land plots without determining the agricultural land.
(RSS)
