NRB asked to disclose list of willful loan defaulters; 53 defaulters yet to pay Rs 15.2 b

The Economic Committee of the House of Representatives Tuesday directed
the Nepal Rastra Bank (NRB) to publicise the names of all the blacklisted bank loan defaulters.

A meeting of the Economic Committee decided to direct the central bank to provide the details of the blacklisted willful defaulters of the Nepal Bank Limited (NBL) and the Rastriya Banijya Bank (RBB) – both the individual operators and companies-, their investments and the amounts to be recovered from them.

In the meeting, NRB governor Bijaya Nath Bhattrai and other senior NRB officials explained to the MPs about the overall financial condition of the country, the problem of bad debts in the NBL and the RBB, the present state of the banking sector and the performance of the two banks before and after they roped in foreign managers.

The officials informed the committee members that the NBL and the RBB were yet to recover Rs 15.2 billion from 53 willful defaulters who have already been blacklisted. 29 individuals and companies have defaulted Rs 10.51 billion from the RBB while the NBL is yet to recover Rs 4.69 billion from 25 blacklisted willful defaulters, according to the officials.

The MPs pointed out that the available data was not complete and asked the NRB officials to come up with a detailed report about the blacklisted defaulters and the measures to recover the bad debts of the RBB and the NBL at the earliest, reports said. nepalnews.com mk Aug 15 06

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