In the case of foreign currency loans, licensed banks may charge a concessionary interest rate considering the prevailing low interest rates. (d) Alternatively, licensed banks may restructure the existing credit facilities over a longer period, considering the repayment capacity of the borrower and an acceptable revival plan. Licensed banks may charge interest for the deferred period and only on the amount deferred amount as stated in I (c) above. (f) Penal interest shall not be accrued or charged during the concessionary period, i.e., 15 May 2021 to 31 August 2021. Licensed banks shall not charge any additional interest or other charges for such delay.

Source: The Nation May 30, 2021 23:37 UTC