Rastra Bank relief for Bhote Koshi flood-affected borrowers, loan installment deadline extended to Poush end
Nepal Rastra Bank has allowed banks and financial institutions to extend the loan installment payment deadline for borrowers affected by the Bhote Koshi flood from Asoj end to Poush end. While providing this facility, institutions must realistically assess the borrower's financial condition, the impact on imports and exports, and the productive use of the loan.
Kathmandu — Nepal Rastra Bank has arranged to give additional time to borrowers affected by the Bhote Koshi flood to pay their loan installments. Issuing a unified directive to banks and financial institutions, the central bank stated that the installment payment deadline can be extended for flood-affected borrowers.
According to the directive, borrowers who were required to pay installments by Asoj end can be given an extension until Poush end.
While providing this facility, banks and financial institutions must realistically assess the following:
- The borrower's financial condition
- The impact on imports and exports
- The productive use of the loan