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NRB, BFIs allows to extend repayment deadline projects affected by earthquake

KATHMANDU: Nepal Rastra Bank ( NRB ) has allowed banks and financial institutions (BFIs) to extend repayment deadline s by one year for borrowers whose projects have been damaged by the earthquake and for those who lost repayment capacity due to business losses. In a directive issued on Wednesday, the central bank, however, said the BFIs could extend the deadline ... Read More »

Nepal’s BFIs start converting their promoter shares into ordinary shares

KATHMANDU: Banks and financial institutions (BFIs) have started converting their promoter shares into ordinary shares after the Securities Board of Nepal (Sebon) declared that they could bring down the portion of promoter shares to 51 percent.Most of the BFIs presently have a share ratio of 70 percent promoter shares and 30 percent common stock. On Wednesday, the Nepal Stock Exchange ... Read More »