KATHMANDU: Nepal Rastra Bank, a regulatory body of all the commercial banks in Nepal, has tightened its grip on individual house loan and auto loan.
Issuing a press statement on Tuesday, it directed the commercial banks not to issue loan exceeding the instalment by 50 percent of the individual’s income.
According to the direction, loan taker has to compulsorily submit a document that clearly states his/her income details.
The main motive behind the directive is to issue loan not exceeding the income of the loan taker, the regulatory department of the bank said.
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