Kathmandu. Nepal Infrastructure Development Bank (NIFRA) will be able to accept the collateral only after three auctions.

Nepal Rastra Bank (NRB) has amended the Integrated Directive-2081 BS issued for NIFRA and brought new provisions regarding loss of non-banking assets and auction. The collateral has to be accepted only if the collateral is not sold even after completing the auction process at least three times to recover the loan.

The provision of maintaining a hundred percent loss on non-banking assets from the date of acceptance has been removed. In case of the sale of non-banking assets, the provision of adjusting the necessary accounting of the loss provision created for such assets has been removed.