NRB has made a new arrangement to stop the auction of collateral of Covid affected business

Kathmandu: Nepal Rastra Bank has made an arrangement that if the interest payment is not due for more than six months, the collateral of the debtor will not be auctioned.

The Nepal Rastra Bank (NRB) has made a policy provision that no collateral will be auctioned if the interest is not due for more than six months.

This will prevent businesses affected by Covid-19 from going through worst situation.

Spokesperson of Nepal Rastra Bank Gunakar Bhatta announced that the collateral of the debtor who has not paid interest for more than six months will not be auctioned.

Leave a comment

Your email address will not be published. Required fields are marked *