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Kathmandu, Nov 16: Nepalese commercial banks have published new interest rates for the month of Mangsir (November 16-December 15). According to reports, 13 commercial banks have reduced the interest rate, Machhapuchhre Bank has increased the interest rate and the remaining 6 banks have continued the interest rate of the month
Nepal Rastra Bank (NRB) has instructed banks and financial institutions to change the interest rate of loans every month. Previously,
Commercial banks, development banks and finance companies have reduced the interest rates with effective from Wednesday.
The Confederation of Nepalese Industries (CNI) has welcomed the decision of Nepal Bankers’ Association to reduce the interest rate.
Commercial banks are reducing the interest rate for the month of Magh (from January 15- February 12).
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