However, borrowers are now complaining that the banks have not complied with the NRB directive. As per them, the banks denied such a facility while paying interest. One bank gave a mere 2 percent concession in the total interest amount against the 2 percent reduction in the interest rate, one borrower said.
He complained that the central bank has directed BFIs to deduct 2 points in the interest rate itself, however, the banks are calculating interest rate in the same rate and giving discount of 2 percent in the total calculated amount which is not enough.
Meanwhile, Dev Kumar Dhakal, Executive Director of NRB, Inspection Department said that the provided 2 percent discount in total interest amount is a wrongful deed of BFIs.
Moreover, the banks are saying that they are fully complying with the NRB directive. As the closure of the FY is nearing, the banks have accelerated the process of debt recovery. Some banks are also offering various other facilities to the debtors who pay loan installment and interest by the end of the FY.
