Bank interest rates will not increase now

Aug Fri 2022 05:14:41

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Bank interest rates will not increase now

Kathmandu. Nepal Bankers Association has decided not to increase the deposit interest rate for this month. Anil Kumar Upadhyay, president of the association, told EconomicNews.com that the meeting held today of the association has decided to increase or decrease the interest rate from the middle of July.

 He said, 'The National Bank on Wednesday amended the Integrated Directive for Monetary Policy Implementation 2078, if the policy rate and bank rate change, banks can change the interest rate based on the provision that banks can change the deposit interest rate.' tell

Nepal Rastra Bank has arranged that the maximum interest rate of fixed deposits of institutional nature should be two percentage points lower than the maximum interest rate of fixed deposits of individual nature. Upadhyay, who is also the chief executive officer of the Agricultural Development Bank, said, "From next month, if the interest rate is increased or decreased, it has been decided to implement it from the end or the beginning of the month." '