KATHMANDU: Global IME Bank has become the only commercial bank to increase its interest rate on personal term loans, effective from today.
The bank, which previously offered a maximum rate of 5.75% in Magh, has raised it to 6% in Falgun.
The decision comes amid ongoing protests linking Global IME Bank to the Pathibhara cable car dispute, with campaigners urging people to boycott financial transactions with the bank.
Meanwhile, Laxmi Sunrise Bank has reduced its interest rate, dropping from 5.75% in Magh to 5.5% in Falgun.
The remaining 18 commercial banks have opted to maintain their existing rates.
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