Kathmandu: Nepal Rastra Bank has arranged that banks and financial institutions cannot publish the borrower’s photo while publishing the loan recovery notice.
This arrangement was made by amending the Integrated Directive 2078 BS issued for banks and financial institutions.
In case of debt collection for a period of more than one year, before starting public notice and mortgage auction proceedings, there was a provision that at least 6 months should have passed since the debt exceeded the loan amount and it had been classified in the doubtful category.
It is stated in the integrated guidelines issued by the NRB that ‘when publishing public notices for debt collection, pictures of persons may not be published’.