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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities." </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities." </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities." </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities." </span></span></p>
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February 18: Nepal Rastra Bank (NRB) has increased the bank rate or the interest on loans provided to banks and financial institutions by two percentage points.
The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent.
Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each.
Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise.
Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy.
"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said.
The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times.
"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities."
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities." </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities." </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
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<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities." </span></span></p>
<p> </p>
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'summary' => 'February 18: Nepal Rastra Bank (NRB) has increased the bank rate or the interest on loans provided to banks and financial institutions by two percentage points.',
'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 18: Nepal Rastra Bank (NRB) has increased the bank rate or the interest on loans provided to banks and financial institutions by two percentage points. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank made such arrangement on Thursday (February 18) after the mid-year review of the monetary policy. Earlier, the bank rate was 5 percent but now it has been increased to 7 percent. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the standing liquidity facility rate, policy repo rate and deposit collection rate associated with the interest rate corridor have also been increased by 2 percentage points each. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Standing liquidity facility rate has been increased from 5 percent to 7 percent, policy repo rate from 3.5 percent to 5.5 percent and deposit collection rate from 2 percent to 4 percent. The existing mandatory cash ratio and statutory liquidity ratio have been kept unchanged. The new arrangement is certain to increase the interest rate of loans taken by banks from NRB. As a result, interest rates on bank loans are also likely to rise. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Executive Director and Spokesperson of NRB Dr Gunakar Bhatta said that the central bank increased the bank rate as per the indication of the monetary policy. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"We conducted a mid-year review of monetary policy with the objective of controlling the growing balance of payments deficit. We have increased the bank rate to attain the same goal," he said. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The interest rate charged by banks on refinancing will also be increased by 2 percentage points to 7 percent. Until now, banks used to charge up to 5 percent interest to the customers by bringing back refinancing from NRB at 3 percent interest. The monetary policy has now made it possible for banks to charge interest of up to 7 percent on such loans. Bhatta said that the interest rate has been raised to control the rising credit flow in recent times. </span></span></p>
<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Lately, more credit has flowed in less productive sector and for import purposes. On top of that, the banks have been giving loans to the customers by taking cheaper loans from the central bank," he said, "So we have increased the bank rate, refinancing interest rate and other rates to discourage such activities." </span></span></p>
<p> </p>
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