Phone Loan Recovery Turns Challenging; Laxmi Sunrise Bank Publicly Discloses Names of 50 Defaulters

Kathmandu – As loan recovery continues to trouble Nepal’s banking sector, the issue is now escalating with loans disbursed through “phone loans” a digital credit service. To align with digitization trends, banks and financial institutions had recently begun offering phone loans, allowing customers to access credit quickly and conveniently via mobile apps. The simplicity of…