Kathmandu, March 25 The National Reconstruction Authority (NRA) has asked Nepal Rastra Bank (NRB), the central bank, to send all the documents related to extension of loans at subsidised interest rate to victims, whose houses were destroyed by the earthquakes of April and May. NRA had sought the documents as there has been very little progress in issuance of home loans to quake victims. Yesterday, the NRA had written to NRB to immediately come up with a guideline to facilitate victims who want to acquire loans at subsidised interest rate. The NRA had also asked the central bank to immediately circulate the guideline among banks and financial institutions so that earthquake victims, who have lost houses, could acquire loans. “But today NRB officials told us that it was not necessary to come up with a separate guideline as the directive issued in the past was sufficient for issuance of loans,” NRA Under Secretary Bhisma Kumar Bhusal told The Himalayan Times. “Yet, NRB officials acknowledged that the process of extending loans to earthquake victims was moving ahead at a very slow pace. So, we have asked the central bank to forward all the documents on it so that we can devise new measures to increase borrowing.” NRB had earlier introduced a directive that entitles owners, whose houses have become uninhabitable by the quakes, to credit at subsidised interest rate of two per cent per annum. The ceiling on these loans has been fixed at Rs 2.5 million for quake victims of Kathmandu Valley and Rs 1.5 million for victims residing outside the Valley. These loans can be acquired from any bank or financial institution in the country. Despite issuance of this directive, only a handful of quake victims have applied for loans. “NRB officials said they have now asked borrowers to directly contact the central bank if banks and financial institutions were showing reluctance to extend the loans,” Bhusal said. The earthquakes destroyed at least 510,000 private houses and another 291,707 houses were damaged by the disaster. Earlier, it was said that many earthquake victims, whose houses were destroyed, refrained from acquiring credit at two per cent interest out of fear of being disqualified from obtaining the grant amount. The government has pledged to extend a grant of Rs 200,000 to every owner, whose house was destroyed by the quakes. This amount is being provided in three instalments of Rs 50,000, Rs 80,000 and Rs 70,000. The government had previously said earthquake victims who have acquired loans at two per cent interest will not qualify for the grant amount of Rs 200,000. This provision has now been scrapped.