Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Credit Information Center (CIC) has blacklisted 53,571 individuals and institutions in the fiscal year 2081/82, an increase of 2.42% (1,268 cases) compared to the previous year’s 52,303.
According to CIC spokesperson Vijay Kunwar, the figure shows only a slight increase compared to past years when blacklisting numbers rose sharply. “The numbers have remained relatively stable this year. Some who were blacklisted might have been removed later,” he said.
Over the past five years, the number of blacklisted cases has surged by 722.39%. In FY 2077/78, only 6,514 were blacklisted, compared to 53,571 in FY 2081/82. Annual records show:
FY 2077/78 – 6,514 cases
FY 2078/79 – 15,995 cases
FY 2079/80 – 34,081 cases
FY 2080/81 – 52,303 cases
Kunwar explained that blacklisted entries include not only borrowers but also loan guarantors (in the case of individuals) and, for institutions, shareholders with over 15% ownership, directors, and property valuators. However, each debtor is counted only once regardless of the number of associated individuals.
Rising Removals from the Blacklist
Removals from the blacklist have also increased. In FY 2081/82, 18,074 individuals and institutions were removed after settling their obligations with banks and financial institutions—a 25.3% rise from 14,424 in the previous year. Over five years, removals have jumped by 894.16%.
Reasons for Blacklisting CIC maintains two types of blacklists:
Cheque Bounce – Cases where a cheque is dishonored due to insufficient funds, wrong signatures, account closure, or payment stoppage.
Loan Default – Cases where the principal and interest remain unpaid for over a year.
Kunwar noted that 70–80% of blacklisting cases involve cheque bounces, mostly from insufficient account balances or forged signatures. Loan defaults make up the remaining 20–30%.
Blacklisting Procedure
When a cheque bounces twice within a set period, the concerned financial institution notifies the account holder and gives 45 days to resolve the issue. If the account remains unfunded, the institution submits a request to CIC for blacklisting. In loan default cases, financial institutions file similar requests after a year of non-payment.
Since its establishment in 2046 B.S., CIC has recorded 129,974 unresolved blacklist cases as of the end of FY 2081/82.
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