The Bankers' Association with 27 commercial banks's CEO meeting decided setting interest rates to the banks from Shrawan 1st onwards. 

Earlier, the bankers' have agreed to give 7% interest on institution Fixed deposits, 8.5% to an individual and maximum 5.5% on the Savings account. 

The Bankers' Association has left it to the banks to reduce interest rates without hurting the general depositors because the banks said that it was difficult to meet costs because of excess liquidity in the banking system.