KATHMANDU, Oct 31: An additional 12,872 individuals accused of banking offenses have been blacklisted by banks and financial institutions (BFIs) in the past three months.
According to the Credit Information Bureau (CIB), a total of 66,601 individuals have been blacklisted by the BFIs as of Sunday. By the end of the last fiscal year, the number was 53,745.
8,849 individuals and firms blacklisted during mid-July and mid...
The CIB records show that the defaulters in the blacklist increased by 24 percent in the past three months. Compared to the statistics of the end of the fiscal year 2021/22, the number of blacklisted people grew more than double in the past 15 months.
The ongoing economic slowdown has been attributed to the soaring cases of banking frauds. According to the report of the Nepal Police, most of the cases of banking frauds in recent days are related to cheque bounce.
