First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank (NRB) has asked banks and financial institutions (BFIs) to comply with the spread rate provision as stated in the Monetary Policy strictly.
The central bank on Sunday wrote letters to the management of the BFIs warning them to take action for breaching the spread rate requirements.
The spread rate is the difference between the interest rates on deposits and loans.
The monetary policy for 2020-21 has capped the spread rate for commercial banks at 4.4 percent and 5 percent for the development banks. However, some banks were found maintaining huge interest rate gap.
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