Updated on Thursday, February 12, 2009, 00:00 IST

Kathmandu, Feb 12: Nepal's Maoist government has announced strong measures for taking action against bank loan defaulters including seizure of their passports.

The government has decided to impose a ban on transactions of properties of defaulters, restrict them from operating businesses, seize their passports and suspend other state facilities to them according to Minister for Information and Communication Krishna Bahadur Mahara.

Various banks of the country have failed to recover over Rs 4 billion from these defaulters. According to officials, the restrictions will apply to at least 238 wilful defaulters who owe over Rs 10 million each.

The government has also formed a five member monitoring committee to monitor the status of defaulters and to expedite action against them.

Bureau Report