NRB directs BFIs to provide 2% discount on interest

Kathmandu - Nepal Rastra Bank (NRB) has directed the banks and financial institutions to provide a two per cent discount on the interest rate to minimise the impact of COVID-19 on borrowers. The country's central bank, through a notice on Tuesday, instructed the BFIs to provide the discount to the coronavirus affected entrepreneurs on the interest as of April 12.

NRB stated that the banks and financial institutions issuing loans henceforth have to reduce the interest by 2% and count the interest amount of the fourth trimester of the fiscal year 2019/2020.