First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank (NRB) has raised interest rate on refinancing by 2 percentage points. Through the fourth amendment to “Nepal Rastra Bank Refinancing Procedure, 2077 BS”, NRB has allowed banks and financial institutions to raise interest on refinancing by 2 percentage points.
Following this amendment by the central bank, BFIs have raised the interest on refinancing for micro and cottage industries accordingly. With this, the interest rate on refinancing, which was 5 percent earlier, has now been raised to 7 percent.
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