Relief on the cards for businesses affected by natural disasters: NRB

KATHMANDU: Nepal Rastra Bank Governor Maha Prasad Adhikari has said that the central bank was planning special measures to assist borrowers that are facing difficulties in servicing their loans due to various natural disasters.

Speaking at a press meeting organized after the launch of the Monetary Policy for Fiscal Year 2023/24 in Kathmandu on Sunday, Adhikari said that the central bank would offer relief to such borrowers through loan restructuring or by making other special arrangements. “We understand the challenges faced by borrowers whose industries and businesses have been impacted, or who have been blacklisted due to natural disasters,” Adhikari said, highlighting the need to provide support in such situations.

Addressing concerns about the misuse of concessional loans, Adhikari clarified that these loans have been utilized both responsibly and irresponsibly. “An independent study is being conducted, and the report is expected by mid-August. We will take appropriate actions based on the findings of the report,” Adhikari said, adding: “If misuse is identified, we will recover the loans by applying interest charges.”