Liquidity getting better, Rs 58 billion added in a week

Kathmandu, January 10

Over the past week, Rs 58 billion has been deposited in various commercial banks across the country. This comes as a small relief for the banking industry that is going through a liquidity crunch and had been unable to issue loans.

According to Nepal Bankers Association, even though banks have collected over Rs 58 billion in deposits, it has only been able to issue Rs 9 billion in loans over the past week. But things are looking good.

Gunakar Bhatta, Nepal Rastra Bank’s spokesperson says that this was positive news for the country’s economy and for banks who were worried about falling into crisis. Bhatta also added that the past few weeks had seen a lot of refinancing which also helped with the deposits.

“The interbank rate is also going down. It’s gone down from 5 per cent to 3. Things are looking promising,” said Bhatta.

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