Interest rate hiked
The Nepal Rastra Bank (NRB) on Sunday decided to hike the interest rate on special refinancing and financing under the lender of last resort policy to 10 percent from existing 7 percent. Terming these facilities ‘extraordinary cases’, the central bank said the interest rate was fixed as a penal rate. “Those who have already received refinancing from the central bank including Vibor Bikas Bank will have to pay 10 percent interest,” said NRB Spokesperson Bhaksarmani Gyawali, “Charging a panel rate on such extra-ordinary liquidity injection is an international practice,” he said.
Source: Kantipur
Source: Kantipur
