Entrepreneurs displaced due to the expansion of the Mahendra Highway and Mid-Hill Highway will receive such facilities.
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Entrepreneurs displaced by the expansion of the Mahendra Highway and Mid-Hill Highway will receive loan rescheduling and restructuring facilities.
The Rastra Bank has recently issued instructions for the implementation of the arrangement announced through the second quarterly review of monetary policy. The Rastra Bank has provided this facility mainly based on the conclusion that entrepreneurs/businessmen displaced by the expansion of the Mahendra Highway and Mid-Hill Highway have not been able to repay their loans.
‘In the case of loans granted to enterprises/businesses displaced due to the expansion of the Mahendra Highway and Mid-Hill Highway, which are eligible for rescheduling and restructuring facilities, banks and financial institutions may, upon the request of the borrower, analyze the borrower’s cash flow and income and recover at least 10 percent of the interest payable based on need and justification, and subject to the following conditions, reschedule and/or restructure the loan,’ the directive states. ‘Such rescheduling and/or restructuring must be completed by mid-Ashar 2083.’
The Rastra Bank has also said that at the time of rescheduling or restructuring, the loan should be classified in at least the same category and the loan loss provision should be maintained.
