Bank Deposits Decrease by 0.3% in First Month of FY 2083/84
Summary
Bank deposits fell by 0.3 percent in the first month of fiscal year 2083/84, while lending to the private sector rose by 0.4 percent. Interest rates across the banking system also declined, with commercial bank loan rates dropping to 6.48 percent and deposit rates to 3.15 percent.
Key Points
- Bank deposits mobilized by banks and financial institutions fell by 0.3 percent in July, the first month of fiscal year 2083/84.
- Deposits still grew 14.5 percent year-on-year, even after dropping by 20 billion 71 crore to 82 kharba 56 arba 21 crore in the month.
- Loans to the private sector increased by 0.4 percent to 50 kharba 80 arba 64 crore, with 7.0 percent year-on-year growth.
- Interest rates declined sharply, as commercial bank lending rates fell to 6.48 percent and deposit rates to 3.15 percent.
