FNCCI urges NRB to extend loan repayment deadline

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged Nepal Rastra Bank (NRB) to extend the deadline for repayment of loan principal and interest.

A delegation from FNCCI led by Acting President Anjan Shrestha, today visited the NRB office and made the request to the Acting Governor of the central bank, Dr Neelam Dhungana Timsina.

FNCCI Acting President Shrestha informed that the request was made as borrowers were facing difficulties in timely instalment repayment due to protests, demonstrations and vandalism that took place across the country as the first quarter instalment deadline for the current fiscal year approaches. He said incessant rain and resulting flooding and landslides had caused damage in the eastern and central parts of the country.

He added that a long public holiday for the Dashain festival had also made it difficult for borrowers to submit their instalments on time, and that FNCCI member organisations had asked the federation to seek an extension from the NRB.

NRB Deputy Governor Bam Bahadur Mishra and FNCCI vice presidents Sur Krishna Vaidya and Hem Raj Dhakal, and treasurer Bharat Raj Acharya were present on the occasion.