$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '14161',
'hit' => '1034'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/20211021111345_Banks.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '14161',
'hit' => '1034'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/20211021111345_Banks.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '14161',
'hit' => '1034'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/20211021111345_Banks.jpg'
$user = null
$groupId = null
include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '14161',
'hit' => '1034'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://www.old.newbusinessage.com/app/webroot/img/news/20211021111345_Banks.jpg'
$user = null
$groupId = null
$user_id = null
$date = '2021-10-21 11:12:52'
$dateFromDatabase = (int) 1634794072
$newDate = 'Oct 21, 2021'
$articleView = array(
'article_id' => '14161',
'hit' => '1034'
)
$word_count = (int) 431
$time_to_read = (float) 2.16
$time_to_read_min = (float) 2
$time_to_read_second = (float) 10
include - APP/View/Articles/view.ctp, line 241
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate.
Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.
Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.
Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.
NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.
Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '14161',
'hit' => '1034'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '14161',
'hit' => '1034'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '14161',
'hit' => '1034'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '14161',
'article_category_id' => '1',
'title' => 'Nepal Rastra Bank asks BFIs to Lower Interest on Deposits to Single Digit',
'sub_title' => '',
'summary' => 'October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">October 21: Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to lower the interest rate on fixed deposit to single digit. NRB issued a circular on Wednesday, October 21 suggesting the BFIs to revise the interest rate fixed for November. The central bank also made telephone calls to the CEOs of the BFIs and urged them to lower the interest rate. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Dev Kumar Dhakal, spokesperson of the central bank, informed that he had suggested the CEOs of banks and financial institutions to bring the interest rate to single digit. He said that such suggestions were given to banks and financial institutions not as instructions but as suggestions. "Banks and financial institutions however will not be obliged to follow this suggestion. They can fix the interest rate as per the October 19 directive issued earlier. NRB has issued the circular on Wednesday to control the irregularities in interest rate," he said.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Banks had started raising interest rates since September due to liquidity crunch. At that time, Sunrise Bank had raised the interest rate on deposits to double digits. Even though Sunrise Bank reduced the interest rates in October, interest rates of other banks have reached double digits. Seven different commercial banks have fixed the interest rate on deposits in double digits.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following reckless increase in interest rates, NRB on Wednesday asked the banks to revise the interest rate fixed for October.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB has advised commercial banks to set interest rates at 9.3%, development banks at 9.5% and finance companies at 9.6%. Commercial banks with a CD ratio of more than 90 percent have been advised to fix the interest rate up to 9.36%. Banks can also increase interest rates on deposits received through remittance by additional 0.1%.</span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, banks have also started fixing interest rates. Laxmi Bank has revised the maximum interest rate from 11.5% percent to 9.35%. Kumari Bank has reduced the maximum interest rate from 9.81% to 9.36%. And Nepal Bangladesh Bank has reduced the interest rate from 10.28% to 9.36%.</span></span></p>
<p> </p>
',
'published' => true,
'created' => '2021-10-21',
'modified' => '2021-10-21',
'keywords' => '',
'description' => '',
'sortorder' => '13906',
'image' => '20211021111345_Banks.jpg',
'article_date' => '2021-10-21 11:12:52',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '14161',
'hit' => '1034'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
