Kathmandu. It has been agreed that bank interest will be maintained at 9.9 percent from May. In a meeting held by Confederation of Banks and Financial Institutions Nepal (Civfin) with the Prime Minister, Minister of Finance and Governor, it was agreed to reduce the interest rate of bank deposits to 9.9 percent.

  In a press conference organized by Civfin, senior president of Civfin, Bhoj Bahadur Thapa, said that the finance minister and the governor have now committed to manage the interest rate at 9.9 percent. Speaking at the same conference, Civfin president Pawan Golyan also said that the deposit interest rate will decrease from Baisakh.

"In India, the interest rate is 6 percent, in Nepal it is 11 percent, we have demanded that it be 9.9 percent," he said - "It will be 9.9 percent from May, after May it will be 8 percent." From May, the institutional interest rate will be 6 percent. Along with this, after the deposit interest rate will decrease, the loan will also decrease and the borrowers will get relief.