Nepal Rastra Bank (NRB) has declared facilities for sick industries , by categorizing them into two groups— industries that can be brought back into operation and those whose operation is not feasible.
Issuing new working procedures on Wednesday, NRB proposed facilities to both types of industries .
For industries whose operation can be resumed, NRB has said banks could restructure loans. BFIs could waive penal interest and keep the normal interest separate without recapitalising it with the principle and recover such interest after a certain period. If a bank wants to take NRB refinancing to enable sick industries get loans at cheaper rates, the refinancing will be provided at NRB-fixed interest rate.
In the case of industries that cannot be brought into operation, they could get up to one year to sell their collaterals to pay back loans. To enjoy this facility, industries have to submit plan to bank assuring the collaterals could be sold at higher rate at a certain time.
Source
Issuing new working procedures on Wednesday, NRB proposed facilities to both types of industries .
For industries whose operation can be resumed, NRB has said banks could restructure loans. BFIs could waive penal interest and keep the normal interest separate without recapitalising it with the principle and recover such interest after a certain period. If a bank wants to take NRB refinancing to enable sick industries get loans at cheaper rates, the refinancing will be provided at NRB-fixed interest rate.
In the case of industries that cannot be brought into operation, they could get up to one year to sell their collaterals to pay back loans. To enjoy this facility, industries have to submit plan to bank assuring the collaterals could be sold at higher rate at a certain time.
Source
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