Kathmandu. As the commercial banks will not increase the interest rate in April, the interest rate of the cooperatives will also not increase. As soon as the issue of non-increase of interest in Chait was raised among the banks, the cooperative activists also withdrew from the lobbying that the interest should be increased.

President of the National Federation of Cooperatives Minraj Kandel said that the interest rate of cooperatives will not increase immediately. "We will determine the interest rate of the cooperatives based on the interest of the banks. The banks have agreed not to increase it. The interest rate of the cooperatives will not increase now. The interest rate was fixed at 16 percent for the time being.