NRB’s mid-term review of monetary policy provides relief to borrowers

KATHMANDU: Nepal Rastra Bank (NRB) has adopted a liberal policy with the objective of providing relief to the borrowers. The central bank has given some relief to the borrowers by publishing a half-yearly review of the monetary policy of the current fiscal year, 2022/23 today. An arrangement has been made where a bank cannot take penalty interest if a borrower makes payment of loans along with interest within a month after the expiry of the deadline till mid-June 2023, reads the review. Likewise, there is a provision that for loans up to Rs 20 million, banks that remain active until January 14 being floated through banks and financial institutions (BFIs) to facilitate to run small and medium industries and businesses can be restructured and re-tabulated within July 16 after analysing their cash flow and incomes. To additionally strengthen loan quality, there is a policy of reviewing the provision of converting inactive loans into a group of good and micro surveillance after becoming regular under the loan categorisation and loss management. READ ALSO:

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