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Blacklisted Debtors on the Rise: NRB

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August 24: The number of debtors in the blacklist of banks and financial institutions (BFIs) is on the rise in the last few years. As per the data published by Nepal Rastra Bank (NRB), the number of debtors not clearing their dues in the Fiscal Year 2017/18 was 6241. According to the central bank, this is the highest in the last five years. In total, there are 24,142 debtors blacklisted  by BFIs so far.

The list was prepared by the debtors’ information center of the central bank upon the request of BFIs. The number of debtors in the blacklist in FY 2016/17 was 5247 while it was 4200 in the preceding year and 3600 in FY 2014/15.

After finding that the number of bad debtors has been increasing every year, the central bank has asked the BFIs to give proper attention while giving loan. The debtors who have not been paying back their dues or whose due date has expired or those who are at large are blacklisted by the central bank upon the request of BFIs. Those in the blacklist are ineligible to get loan from any BFI.

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