NBA decides not to raise interest rates in Shrawan

KATHMANDU: Nepal Bankers Association (NBA) has decided not to raise interest rates even in Shrawan (July/August)

Commercial banks have agreed to offer depositors interest rates of up to 11.03 percent in Shrawan (July/August). The Bankers’ Association maintained the same interest rate in Ashar (June/July).

The Bankers’ Association has decided not to raise interest rates at a time when NRB Chief Executive Officer Maha Prasad Adhikari has stated that rates may rise further.

Banks are required to announce new interest rates for the following month at the end of each month so that the new interest rates for Shrawan (July/August) been made public.