The Nepal Rastra Bank prohibits financial institutions from auctioning collateral from customers who have been delinquent on their debts for up to six months

The Nepal Rastra Bank prohibits financial institutions from auctioning collateral from customers who have been delinquent on their debts for up to six months » Meroshare

The Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to place collateral assets of defaulting borrowers up for auction only if the loan amount has been past due for six months or more.

The Central Bank came up with an emergency provision on Monday after revising its unified guidelines in order to provide relief for borrowers who have been negatively affected by the COVID-19 pandemic, according to a statement. Since the beginning of this year, many BFIs have begun auctioning off the de

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