Are banks and financial institutions in Dhangadhi following the guidelines set by Nepal Rastra Bank amid lockdown?

Although Nepal Rastra Bank on Sunday declared various alleviation measures, including rescheduling of credit reimbursement for businesses affected by COVID-19, banks and financial institutions of Dhangadhi have allegedly lacked proper implementation. Anticipating the implications of the lockdown on the business and industrial sector, Nepal Rastra Bank announced that borrowers who were supposed to pay loan installments in mid-April can now pay them by mid-July. Banks cannot impose penal interest or downgrade any loans for delays in repayment, according to the central bank. If the borrower pays the amount as per the set deadline in mid-April, the concerned bank or financial institution will need to provide a 10 percent exemption in interest, according to a directive issued by the central bank on Sunday. However, banks in Dhangadhi are allegedly still attempting to charge interest.