Kathmandu, May 15
For the month of Jestha, commercial banks held deposit interest rates unchanged. Banks have maintained interest rates constant for the previous three months after raising them to a maximum of 11.03 percent in March.
Despite the shortage of liquidity, the Bankers Association, an umbrella body of 27 commercial banks, has decided to keep interest rates constant for the month of Jestha. The union had pushed banks to keep raising interest rates in jestha, arguing that while it would not increase deposits, it would raise costs.
Banks will provide a maximum interest rate of 11.03 percent on-time deposits in Jestha at the same time.
