NRB issues a new directive: Customers get 15 days extension for the payment of interest and principal

Nepal Rastra Bank (NRB) amends the directive regarding the payment of interest and principal. It extends the time for paying the interest and principal by 15 days up to Shrawan 30, 2076.

Considering the disastrous flood around the country, NRB extended the time period by 15 days. Otherwise customers need to pay interest and principal by the end of fiscal year.

NRB also made provision not to deposit the interest collected on statutory reserve fund which has been collected within the one month of completion of fiscal year. In normal situation, Bank and financial institutions don’t need to deposit interest amount in statutory fund that is received within the 15 days of completion of fiscal year.   

This provision made for the ease of making the financial statement on time.