KATHMANDU: Nepal Rastra Bank (NRB), the central bank of Nepal, has directed banks and financial institutions (BFIs) not to blacklist debtors until July 15, 2021.
Issuing a notice on Wednesday, NRB directed all the BFIs not to blacklist the creditors until July 15, the next year.
An institution having a license can recommend blacklisting a person who has taken loan of Rs 1 million or so and above and inform regarding this to the Credit Information Center as per the existing provision.
According to this new directive, BFIs now cannot blacklist those debtors who have taken the loan but are unable to pay back due to COVID-19 pandemic.
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