Kathmandu, Jan 14:
Nepal Rastra Bank (NRB) has directed the banks and financial institutions to submit the details of all the loans and facilities they have approved to it.
The central bank through a notice today urged all the ‘A’, ‘B’ and ‘C’ class banks and financial institutions to provide to it information also on total loans crossing the more than 90 days repayment deadline.
NRB said information should be provided to the centre if the loan is not repaid within 15 days from the date of the completion of the quarterly period every fiscal year. It also directed the banks and financial institutions to make available to it within 15 days the information on changes made to the details sent to the centre if any changes are made to it or if the loans were cleared, if the loans the repayment deadline of which had been missed became regular or if the deadline was extended and if it was re-tabulated, NRB executive director Narayan Poudel said.
The central bank has also made strict the provision for acquiring the customers’ details. It has directed the banks and financial institutions to take all the details of the customers including the copy of their citizenship card and details of their three generations.
A copy of details, address and agreement made with a person receiving authority to carry out transactions on behalf of a private institution and a partnership firm should be kept.
The Central Bank should be notified within three days if one intends to seek information about borrowers and customers before releasing loan, renewing outstanding loan and reconstructing and re-tabulation.
Beware of small expenses; a small leak will sink a great ship.Benjamin Franklin, inventor and diplomat