Loans upto 50 million can be restructured till mid-July

KATHMANDU, May 12: Rashtra Bank has adopted some flexibility in the credit flow to the real sector of the economy through the review of the third quarter of the monetary policy of the current financial year.

In view of the laxity seen in the real sector of the economy, the Central Bank has given concessions for restructuring and rescheduling the loans provided by banks and financial institutions in related areas of hotels and restaurants, animal husbandry, and construction sectors until the mid of July.

In addition, the central bank has said that arrangements will be made to restructure/reschedule loans up to Rs 50 million in other sectors by the mid of July 2023. However, the bank said that no fee (penalty) will be charged for the restructuring and rescheduling of such loans.

Taking into account the difficulties in repaying the loan due to the laxity in the real sector, through the third quarter review of the monetary policy of the financial year 2079/80 B.S., based on the needs and justification, no compensation/fee will be charged for up to 3 months till the mid of July while the short-term and current-capital loans are regular.