KATHMANDU, Nov 1: The nonperforming loans (NPL) of Nepali commercial banks have increased by a notable amount in the first three months of the current fiscal year, after the borrowers failed to pay back the banks’ loans on time due to excessive interest rates.
KATHMANDU, OCT 15: Commercial banks are likely not to raise the interest rate on their deposit collection in the next month after the recently increased interest rate failed to attract the deposit collection.
KATHMANDU, Sept 15: Nepali commercial banks will be raising their interest rates on fixed deposits after the Nepal Bankers’ Association (NBA) decided not to intervene in the banks to fix their interest rates.
KATHMANDU, July 16: The state-owned public financial organizations—Employees Provident Fund (EPF) and Citizen Investment Trust (CIT)—are increasing their interest rate on the collected funds effective from Sunday– the first day of the new fiscal year 2022/23.
KATHMANDU, Jan 9: The government has ruled out raising the reference interest rate for cooperatives at a time when the cooperatives operators have been lobbying the government bodies to hike the interest rate.
KATHMANDU, Nov 21: The deposits collection by commercial banks declined by Rs 36 billion whereas the loan issuance increased by equivalent amounts in the one month period from mid-October to mid-November.
KATHMANDU, Oct 11: Banks are likely to raise interest rates on loans after mid-October citing the shortfall in loanable funds available with them triggered by the excessive rise in imports and slow inflow of remittance amount.
KATHMANDU, Oct 4: Finance Minister Janardan Sharma has urged the microfinance institutions (MFIs) to reduce the existing interest rates on loans. MFOIs across the country have been investing through loans at an interest rate of 10 to 15 percent.
KATHMANDU, Nov 16: The Ministry of Land Management, Cooperatives and Poverty Alleviation on Friday said that the government was firm to implement the reference interest rate of 16 percent on lending by cooperative organizations.
KATHMANDU, Dec 27: Nepal Rastra Bank (NRB) has revised the base rate calculation formula for bank and financial institutions (BFIs) that will lower interest rates on loans by at least 0.75 percentage point.