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<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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<p style="text-align:justify">Earlier, NRB published concept paper on determination and review of interest rate on March 16. NRB changing the time limit for alteration of interest rate requested for suggestions (if any) on the concept paper within seven days. Under the concept paper, BFIs can now alter the loan interest rate for only two times annually.</p>
<p style="text-align:justify">“However, NRB issued the directives as per the order of HC which is compelled to follow by all,” said Narayan Prasad Poudel, Executive Director, Regulation Department and Spokesperson of NRB. “The direction has end the monopolistic pattern of BFIs on setting loan interest rate,” he added.</p>
<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
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<p style="text-align:justify">Earlier, NRB published concept paper on determination and review of interest rate on March 16. NRB changing the time limit for alteration of interest rate requested for suggestions (if any) on the concept paper within seven days. Under the concept paper, BFIs can now alter the loan interest rate for only two times annually.</p>
<p style="text-align:justify">“However, NRB issued the directives as per the order of HC which is compelled to follow by all,” said Narayan Prasad Poudel, Executive Director, Regulation Department and Spokesperson of NRB. “The direction has end the monopolistic pattern of BFIs on setting loan interest rate,” he added.</p>
<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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<p style="text-align:justify">“However, NRB issued the directives as per the order of HC which is compelled to follow by all,” said Narayan Prasad Poudel, Executive Director, Regulation Department and Spokesperson of NRB. “The direction has end the monopolistic pattern of BFIs on setting loan interest rate,” he added.</p>
<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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View::_render() - CORE/Cake/View/View.php, line 933
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<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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March 20: Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to stop haphazard increment in loan interest rate against the loan agreement. Based on the High Court’s order issued on last October 23, NRB issuing a circular has given five-point directions to the BFIs.
Earlier, NRB published concept paper on determination and review of interest rate on March 16. NRB changing the time limit for alteration of interest rate requested for suggestions (if any) on the concept paper within seven days. Under the concept paper, BFIs can now alter the loan interest rate for only two times annually.
“However, NRB issued the directives as per the order of HC which is compelled to follow by all,” said Narayan Prasad Poudel, Executive Director, Regulation Department and Spokesperson of NRB. “The direction has end the monopolistic pattern of BFIs on setting loan interest rate,” he added.
He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”
“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added.
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<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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<p style="text-align:justify">Earlier, NRB published concept paper on determination and review of interest rate on March 16. NRB changing the time limit for alteration of interest rate requested for suggestions (if any) on the concept paper within seven days. Under the concept paper, BFIs can now alter the loan interest rate for only two times annually.</p>
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<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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<p style="text-align:justify">Earlier, NRB published concept paper on determination and review of interest rate on March 16. NRB changing the time limit for alteration of interest rate requested for suggestions (if any) on the concept paper within seven days. Under the concept paper, BFIs can now alter the loan interest rate for only two times annually.</p>
<p style="text-align:justify">“However, NRB issued the directives as per the order of HC which is compelled to follow by all,” said Narayan Prasad Poudel, Executive Director, Regulation Department and Spokesperson of NRB. “The direction has end the monopolistic pattern of BFIs on setting loan interest rate,” he added.</p>
<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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<p style="text-align:justify">He said that the directive has restricted BFIs on haphazard increase in loan interest rate against the agreed rate. “This will increase good governance in financial system and also ease general people.”</p>
<p style="text-align:justify">“Previously, in the absence of regulation policy and directive of NRB on interest rate, BFIs used to set the interest rate as per the demand and supply of the financial market,” said Jhalak Prasad Khanal, CEO of Vibor Society Development Bank. “However, after the NRB directive and HC’s order, BFIs will act accordingly,” he added. </p>
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