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The commercial banks are under pressure due to a lack of available funds and are likely to boost interest rates more after Dashain.

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The commercial banks are under pressure due to a lack of available funds and are likely to boost interest rates more after Dashain.

Banks are expected to hike interest rates on loans after the middle of October, citing a lack in loanable funds available to them as a result of an excessive increase in imports and a delayed inflow of remittance amounts in recent months.

According to bankers, the country’s financial system has been experiencing a shortfall of money supply, which has made it difficult to make loan payments. According to Narayan Das Manandhar, the chief executive officer of Prime Commercial Bank, “the shortfall has increased even further since a number of banks have begun

Read the full story at earnmoney.com.np


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