Kathmandu. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has demanded immediate postponement of the decision to increase interest rates on deposits. As soon as the decision to raise interest rates on deposits was made public, the federation strongly objected and demanded immediate postponement of the decision.

FNJ said that all kinds of industries, big and small, were not able to operate due to Covid. Noting that the private sector has always welcomed the positive initiatives taken by the banking sector in the past, the federation said, the private sector has expressed concern that if the industry and business sector, which is going through an awkward situation, and the interest rate on loans taken by the industrialists, the sector will collapse further and the industrialists will come to the streets.