While the country is going through the difficult situation due to the pandemic COVID 19, again, NRB has scrolled out a relief package by reducing interest rate to all the loan customers of all the BFIs. This is an appreciable effort taken by the Nepal Rastra Bank. This notice will somehow decrease the effect of COVID 19 to the citizens of Nepal.
Vide circular21/076-77, to relieve the pandemic effect of COVID-19, NRB has issued circular to class “A”, “B”, “C”, “D” banks and financial institutions to reduce the existing interest rates by 2% on calculation of fourth quarter interest to their loan customers.
- This provision do not apply to the business specified in the notice.
- The above reduced rate shall not be less than the base rate.
- After the end of Ashad 2077, the existing provisions relating to interest rates calculations shall apply.
Further, other provisions also been brought by the Nepal Rastra Bank for minimizing the impact of COVID-19 for primary sectors, which has been specified in the notice attached.
For more information , please visit https://www.nrb.org.np/
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