The recent controversy surrounding NIC Asia Bank's placement of a security guard at a borrower's house has reignited debates about the role of banks in supporting their clients during tough times. The incident highlights the importance of effective communication and understanding between lenders and borrowers, especially when borrowers face financial difficulties.
Critics argue that NIC Asia Bank's actions toward borrowers contradict its slogan, "Bank Pani, Sathi Pani, Ramro Pani, Hamro Pani," which translates to "Bank too, a friend too, good too, ours too." The bank's defenders, however, maintain that strict rules for non-payment of loans must be enforced to maintain financial stability.
The controversy began when Bikram Timsina, a borrower who had been issued a notice for the auction of his mortgaged real estate, posted on social media revealing that a guard outside his house was from NIC Asia Bank. Timsina claimed that he was facing difficulties in paying his installments due to delayed payments from clients, corruption among employees and broker contractors, and the economic recession in the country. He accused the bank of being unsympathetic towards him and not being borrower-friendly.
NIC Asia Bank defended its actions, stating that it had taken the necessary steps to enforce its loan policies. The bank reiterated the importance of timely payments and stated that it would continue to take action against those who failed to make payments on time.
The incident has sparked public debates about the role of banks in supporting their clients while maintaining financial stability. The controversy highlights the need for effective communication and empathy between banks and borrowers, particularly during challenging times. As the debate continues, it remains to be seen whether the controversy will lead to changes in how banks approach borrowers who are struggling with financial difficulties.
