Big wilful defaulters number 109 in RBB
Kathmandu, September 22:
The number of wilful defaulters in Rastriya Banijya Bank (RBB) alone, who have more than five million rupees in defaulted loans has reached 109, according to employees of the bank.
President of Nepal Financial Employees Association (NFEA), Eka Raj Acharya informed the media today that due to the rising number of defaulters and majority of big borrowers not paying back loans in time, the banking sector is reeling under a severe crisis. Acharya said that the total lending of RBB has reached Rs 27.15 billion. Of this total lending, 45 per cent is non-performing loans, informed Acharya.
According to him, borrowers who have taken loans worth over five million rupees have been found ‘inactive’ in paying RBB’s loans have reached 181 and loan amount owed by them has reached Rs 16 billion. Of this Rs 16 billion, interest alone comes to be nine billion rupees, he says.
Of the total 109 wilful defaulters, total loans come to be Rs 10.05 billion. Of this, interest alone stands at seven billion rupees.
Similarly, borrowers who have taken loans from Nepal Bank Ltd (NBL) amounting to Rs 500,000 to Rs 250 million has accumulated to Rs 6.41 billion and interest alone comes to be Rs 11 billion, say employees. Of these loans, 80 per cent borrowers come under wilful defaulters.
The Employees Unions have accused that borrowers are living a lavish lifestyle but are
not paying back bank loans in time. What is pathetic is that small borrowers are compelled to pay back while big borrowers are not paying back even if they have money, said Acharya, president of NFIEA.
He also announced that if the default loans were not recovered, all employees would initiate an indefinite strike. He also blamed the government for not being serious in recovering banks’ loans despite making similar commitments through budget announcement.