First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank (NRB) has extended the deadline for submitting refinancing applications.
As per the central bank, banks and financial institutions can now collect applications for the refinancing loan till mid-October. Prior to this, BFIs were asked to collect applications for such loans from August 17 to September 30.
Dev Kumar Dhakal, chief of the BFIs Regulation Department at NRB informed that the deadline has been extended due to complaints that many people could not apply for such loans due to the lockdown, restriction in mobility and the risk of COVID-19. “Banks could not give full fledge service throughout the lockdown while people also could not visit banks to apply for such loan due to restricted mobility. As the result, banks received few applications for such loan,” said Dhakal.
“The deadline for submitting such application has been extended so that the borrowers who meet the criteria are not exempted from this facility,” he added.
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