Kathmandu. Nepal Rastra Bank (NRB) has sought clarification on the issue of high interest charged by NIC Asia Bank. The Bank Supervision Department of NRB has written to NIC Asia Bank asking them to immediately inform them about the incident.

NRB spokesperson Dev Kumar Dhakal confirmed that the letter was cut to the bank. According to him, the answer was demanded after it came out that the customer was in trouble even in the epidemic by taking excessive interest.

Complaints have been raised that NIC Asia Bank has recently auctioned off real estate without giving even a normal opportunity to the customers and charging high interest rates.

The bank's Biratnagar branch had written to the borrower saying that the interest rate on home loan has increased from 9 percent to around 16 percent. However, the base rate of the bank is 6.77 percent.