Nepal Rastra Bank/File photo.
KATHMANDU: Nepal Rastra Bank (NRB) Governor, Maha Prasad Adhikari, has urged individuals and entities to notify him regarding any cases of exorbitant interest charges by banks and financial institutions.
Rather than creating commotion outside, he emphasized the importance of filing a formal complaint supported by evidence.
Speaking on the 27th anniversary of the Society of Economic Journalist Nepal (SEJON), Governor Adhikari pledged to rectify any proven instances of banks overcharging interest.
Governor Adhikari revealed that banks returned 4.76 billion rupees in excess interest in the last fiscal year. He dismissed claims by certain political figures that banks were charging interest rates between 16-18 percent, added that he was waiting for more data in the upcoming first-quarter monetary policy review.
He clarified that the relationship between the finance minister and the governor remains solid, stating, “NRB is collaborating seamlessly with the government.”
Acknowledging the rise in non-performing loans due to economic slowdown, the Governor stressed the necessity to curtail dividends. He acknowledged that some business owners faced challenges in repayment.
He emphasized the importance of developing a repayment plan after acquiring a loan.
Governor Adhikari stressed the need for a collective approach in tackling economic fluctuations that are prevalent worldwide.