Nepal National Federation of Entrepreneurs has demanded immediate withdrawal of the increased interest rates. FNCCI President Naresh Katuwal issued a statement on Friday demanding immediate withdrawal of interest rates on loans under the pretext of investing money by banks and financial institutions. "The banks' recent actions have sought to further complicate the economy," said Katuwal in a statement.
He said that the industry, which was in a very awkward situation due to Coronavirus pandemic, was facing problems due to the re-bank interest rate. He said that those who do business in the industry are not able to get loans from the bank easily.
Lately, the FNJ has been paying serious attention to the activities being carried out by the bank under the pretext of lack of liquidity, including holding back loans to industrialists and raising interest rates arbitrarily.
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