Nepal Rastra Bank to Limit Unlimited Liability Arising from Personal Loan Guarantees

Banking News – The Nepal Rastra Bank has announced plans to eliminate the practice of creating unlimited liability through personal guarantees used as collateral for loans. Presenting the Monetary Policy for FY 2083/84, Governor Bishwanath Paudel said the central bank will also introduce measures to reduce instances where individuals are blacklisted due to dishonoured cheques,…