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Monday, November 29, 2021
    Nepal Breaking NewsGeneral NewsIn the first week of Mangsir, there was a Rs. 7 billion...

    In the first week of Mangsir, there was a Rs. 7 billion decrease in deposits

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    The release of an extensive on the deposit and lending trends in the nation’s commercial banks has been announced. This is the information that has been reported as of Mangsir 03, which is the last working day of the first working week. As of this day, the CD ratio is 90.57 percent (see chart).

    As a result of Mangsir’s first week, the overall deposit decreased by Rs. 7 billion, bringing the total deposit to Rs 4,226 billion for the week. The deposit is in local currency to the of Rs. 4,105 billion, with the Rs. 121 billion in foreign currency to the tune of Rs.

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    Between now and then, the entire amount of lending has increased by Rs. 7 billion, bringing the total amount to Rs. 4,041 billion. Approximately Rs. 3,885 billion in lending has been forwarded in local currency, with the Rs. 156 billion in foreign currency.

    When comparing the total deposit collected in Kartik to the statistics provided in Ashwin, commercial banks reported a total of 35.31 Arba squeeze in the total deposit obtained. On the other hand, banks have been hammered by a surge in capital demands from both the general public and corporations the same time. As the economy has begun to recover from the closure, businesses and individuals have begun to place demands on financial institutions for loans and other forms of financing. In Kartik, commercial banks reported a gain in total monthly loan forwarding of 36.12 Arba, or a 36.12 percent increase over the previous month.

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    Given the combination of the two conditions, there has been increased pressure on the banks to advance loans a time when deposit funds are drying up. Because of this, banks are under pressure to hike interest rates in order to compete for depositors. Meanwhile, the central bank has countered by limiting the amount of interest rate increases that can be implemented in order to protect borrowers and businesses from exorbitant interest costs.

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