The Nepali government is striving to implement the best policies and regulations to minimize the socio-economic impacts caused by the coronavirus pandemic.<\/p>\n
Lately, the Nepal Rastra Bank (NRB) has directed the banks and financial institutions in the country to provide a 2% discount on the interest rate<\/strong> to the COVID-19 affected entrepreneurs and individuals.<\/p>\n With this, the banks issuing loans from now on should reduce the interest by 2% and count the interest amount of the fourth trimester of the FY 2019\/20.<\/p>\n ALSO READ:<\/strong> Nepal to Provide \u2018Loans to Returnee Migrants’<\/strong><\/a>!<\/p>\n The NRB has also ordered the banks to extend the payment due date of the monthly\/trimester installments for months of Baisakh and Jeth and till the end of Ashadh.<\/p>\n According to the NRB instructions, no additional charges or fines can be levied in case of such installments.<\/p><\/blockquote>\n Moreover, the BFIs should extend the payment of the principal and interest of all recurrent capital-type short-term loans to be paid during the lockdown period by 60 days.<\/p>\n However, the aforementioned provisions do not apply to:<\/strong><\/p>\n So far, Nepal has reported only 57 coronavirus infection cases<\/a>. However, the coronavirus pandemic has halted all businesses, tourism activities, Everest Expedition, and international travel, among others.<\/p>\n\n