Saturday, June 28, 2025
  • Webmail
  • Contact Us
  • About BBS
  • Privacy & Policy
ENG
DZO
BBSCL Logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
Radio Live
No Result
View All Result
BBSCL logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
No Result
View All Result
BBSCL logo
Radio LIVE

National CSI Development Bank to take loan defaulters to court

November 24, 2022
in Business, Other Stories
Reading Time: 2 mins read
0
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

The National Cottage and Small Industries Development Bank in Paro will take about a hundred loan defaulters to the court soon. This, the bank says is to bring down the non-performing loan rate to less than five per cent. The bank recorded almost 11 per cent of non-performing loans in March this year. The bank has NPL amounting to over Nu 362 M. Non-performing loans are loans with payments that are overdue by 91 days or more.

The bank found that most of the defaulters who took loans from the bank did not repay on time as the loan is collateral free and provided at a low-interest rate.

“Some people don’t respond and cooperate with us at all even though we try to contact them through phone calls and email. We don’t have any other choice now than to drag them to court. We know that this is going to be inconvenient but we have no alternative. As of now, our legal division has already taken a hundred of the defaulters to court while the remaining one hundred will be forwarded to court soon,” said Kinzang, the CEO of National CSI Development Bank.

The CEO added that the increase in the bank’s non-performing loan has raised concerns about the bank’s financial stability. The bank expects to bring it below five per cent and benefit those waiting to apply for the new loan sanctions.

“If we can’t bring down the NPL rate there is no way we can issue any new loans. We have to by any means bring the NPL rate below 5 per cent according to RMAs regulation. Therefore, our target is to bring the non-performing loans below 5 per cent by the end of this year,” added the CEO.

In May this year, the Royal Monetary Authority asked the bank to stop lending money until further notice as the bank’s NPL had exceeded the NPL tolerance limit of five per cent.

Since its inception in 2020, the bank issued more than Nu 2bn to 8,000 clients.

Namgay Wangchuk, Paro

Edited by Sonam Pem

Previous Post

RBP to revisit and upgrade security system in detention centres

Next Post

Narphung town to get a major facelift

Next Post
Narphung town to get a major facelift

Narphung town to get a major facelift

Canadian government starts providing biometrics in the country

Canadian government starts providing biometrics in the country

Deliberation on Property Tax Bill of Bhutan 2022 – NC

Deliberation on Property Tax Bill of Bhutan 2022 - NC

Please login to join discussion

RECOMMENDED NEWS

Lack of road markings and sign boards near underpass raise safety concerns – Phuentshogling

Lack of road markings and sign boards near underpass raise safety concerns – Phuentshogling

2 years ago
3
Revised BCSR mandates civil servants to serve post Short-Term Training

Revised BCSR mandates civil servants to serve post Short-Term Training

2 years ago
96
Two women caught for illegal possession of tobacco products

Two women caught for illegal possession of tobacco products

6 years ago
4
Tenzin Lekphell is the next SG of BIMSTEC

Tenzin Lekphell is the next SG of BIMSTEC

5 years ago
8

BROWSE BY CATEGORIES

  • Accidents (14)
  • Agriculture (439)
  • Announcement (179)
  • Audience Survey Report (1)
  • Business (759)
  • Crime/Legal (370)
  • Culture (48)
  • Development (57)
  • Disaster (57)
  • Economy (289)
  • Education (419)
  • Entertainment (16)
  • Environment (66)
  • Feature (65)
  • Featured (6)
  • Festival (81)
  • GMC (14)
  • Headlines (5)
  • Health (630)
  • Legal (53)
  • Literature (9)
  • Livestock (76)
  • Media (26)
  • Other Stories (5,687)
  • Politics (419)
  • RCSC (1)
  • Recent stories (6)
  • Religion (45)
  • Sci/Tech (712)
  • Social (548)
  • Sports (456)
  • Technology (191)
  • Tourism (22)
  • Uncategorized (13,868)
  • Video (141)
  • Video Story (257)
  • Wildlife (42)

BROWSE BY TOPICS

Tender Announcement Vacancy Announcement

POPULAR NEWS

  • BPC’s investigation rules out transformer short circuit as Damchhu forest fire cause

    Viral video of Bhutanese man assaulted by locals and police in Jaigaon sparks safety concerns

    0 shares
    Share 0 Tweet 0
  • Gelephu Mindfulness City opens recruitment drive for Bhutanese professionals

    0 shares
    Share 0 Tweet 0
  • A centenarian’s recipe to longevity

    0 shares
    Share 0 Tweet 0
  • 40 companies risk closure over failure to submit financial reports

    0 shares
    Share 0 Tweet 0
  • Post-mortem confirms foul play: Progress in investigation of 24-year-old woman’s death

    0 shares
    Share 0 Tweet 0
BBSCL

Bhutan Broadcasting Service (BBS) is Bhutan’s primary national broadcaster, delivering diverse news and entertainment in multiple languages, fostering cultural understanding and public knowledge.

Follow us on social media:

Recent News

  • Lead exposure may be contributing to high anaemia levels among children in Bhutan
  • MoIT imposes moratorium on issuance of taxi driving licence
  • Book on temples and monasteries of Trongsa’s Drakteng wins Dzongkha Booker Prize
  • Shumar Cheden Tshephel Detshen becomes self-reliant with own milk processing unit
  • Fire risk from phones at fuel depot low but never non-existent

News Category

  • Accidents
  • Agriculture
  • Announcement
  • Audience Survey Report
  • Business
  • Crime/Legal
  • Culture
  • Development
  • Disaster
  • Economy
  • Education
  • Entertainment
  • Environment
  • Feature
  • Featured
  • Festival
  • GMC
  • Headlines
  • Health
  • Legal
  • Literature
  • Livestock
  • Media
  • Other Stories
  • Politics
  • RCSC
  • Recent stories
  • Religion
  • Sci/Tech
  • Social
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • Video
  • Video Story
  • Wildlife
  • Webmail
  • Contact Us
  • About BBS
  • Privacy & Policy

© 2024 BBSCL. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule

© 2024 BBSCL. All rights reserved.