Tourism sector loan restructuring facility removed

3rd Aug, 2022 | Tourism Mail Crew

KATHMANDU, Aug 03: Credit restructuring and rescheduling facilities for the tourism sector, which has been heavily affected by Covid-19, have been removed. Rashtra Bank has removed the facility through a unified directive as per the new monetary policy.

Rastra bank is unable to restructure and reschedule by the end of June 2078. There is a provision that 5 percent of the interest to be paid by the tourism sector, which is highly affected by Covid-19, can be done by the end of December 2078.

The new monetary policy has eliminated the debt restructuring regime. With this, along with tourism, cinema, party palace, public transport and education sector borrowers will not get facilities.

Similarly, the loans provided to professionals involved in various professions affected by Covid-19 have also been removed.

Among the areas highly affected by Covid-19, the businessmen who depend on external tourists such as hotels, travel, trekking and air services, after assessing the impact of Covid-19, the loan and interest obligations to be paid by the end of June 2079 should be taken into account separately, and arrangements should be made to collect them in at least four installments within two years. had been

It was mentioned that such interest should not be capitalized and no additional damages and penal interest should be arranged. The new monetary policy has removed that provision.