Relief for Flood-Affected Borrowers: Deadline for Principal and Interest Payment Extended to Poush End
Nepal Rastra Bank has extended the deadline for principal and interest payments for flood-affected businesses and borrowers from Ashwin end to Poush end. The central bank issued a circular to banks and financial institutions directing them to provide this relief.
Kathmandu. Nepal Rastra Bank has extended the deadline for principal and interest payments to provide relief to flood-affected businesses and borrowers.
The central bank issued a circular to banks and financial institutions, directing them to extend the deadline for principal and interest payments for flood-affected businesses and borrowers. Now, such borrowers can pay the principal and interest due by Ashwin end until the upcoming Poush end.
This facility will apply to the following sectors and borrowers:
- Enterprises, projects, or businesses directly affected in the flood-affected areas of Bhote Koshi and Budhi Gandaki
- Businesses based on the import or export of raw materials, semi-finished, and finished goods through the Rasuwa customs point
- Borrowers affected in flood-affected areas
Such borrowers will receive this facility only after a realistic analysis of their financial condition—including sales and income, cash flow, reserves, the impact on imports and exports, and loan utilization—and if they are facing difficulties in paying loan installments.