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Tag: NIC Asia

NIC Asia controversy: Bank backtracks on interest rate, association lifts sanctions

Kathmandu, March 13 Nepal’s bankers’ association and NIC Asia Bank have reached an agreement to lower interest rates on fixed deposits, three days after NBA members decided not to carry out inter-bank transactions with NIC Asia. The association had said that NIC Asia indulged in an unfair practice by hiking interest rate above what was agreed among […]

Nepal’s bankers’ association punishes NIC Asia for breaching interest ceiling

Kathmandu, March 9 Nepal’s bankers’ association says 27 of its member banks will not carry out transactions with NIC Asia, one of the country’s leading commercial banks, after it raised interest rate on fixed deposits. The association said  that the bank indulged in unfair practice by hiking interest rate above what was agreed among members […]