i cannot believe these mofos increase interest in deposit yet again and now it is double digit. stock market likely to nose dive tomorrow.

there is argument like but “deposit”, “not nrb/bank’s job to keep nepse up”, etc. but the hike in interest only contribute to inflation and only makes things costly for general good. if you want to buy anything price will go up in comin months. Banks calculate interest for loan based on Base Rate with 11% from 7% interest on credit as well will go up. may be some will still be able to pay.

why they are not controlling the market. i don’t understand why banks still have to follow age old “deposit based” business rather than consumption based like in matured countries.

these boomer lover charge shit ton of money for mobile/internet banking (separately). they are charging us for making their work easier.

economic growth is negative, trade deficit is ever increasing yet these people assume money will flow in once interest go up.

More at: r/NepalStock by captainright1

5 comments
  1. >hike in interest only contribute to inflation

    It’s actually the opposite, low interest rates lead to inflation as credit is cheaper and people spend more money.

  2. Before you call the banking industry retards, just imagine we have zero or low interest rate. Then what will happen you ask your self? In such a low interest rate climate, there will be no savers, only borrowers. No one would want to hold cash. Every living soul will start to buy assets whereby causing asset prices to shoot up whereby we have asset inflation. We will have asset bubbles being formed every where. We will have too much money chasing too few goods. Our NPR will be valueless. Back to square one, the Central Banker will be forced to step in and increase interest rates to control this inflation and to control the assets bubbles to burst. Believe me you don’t want asset bubbles to burst uncontrollably. Asset prices would spiral out of control. The economic chaos would be devastating and the effects would be felt for years to come.

  3. These mofos that you are referring to are the central regulatory body without which there would not exist a orderly and efficient and dependable FI system that we have today. Watch your language before you leap. Interest rates are tools by which the Central Banker controls inflation. Remember that interest rates can go up or down depending on the Central Banker (NRB) reading of inflation. Also remember we as a country import lots of stuffs from essentials such as fuel and food and lots of non essentials. Recently the world over, price of both essentials have been going higher. Therefore when we import these essentials, we also by default, import inflation too.

  4. When there is so much competition for liquidity banks have no other options than to increase their interest rates to keep hold on to their deposits

  5. Can someone explain why Banks have so many account options? Eutai bank bhitra 6.1 % dekhi 8.6% samma ko range ma xa tyo pani savings account ma FD ma pani haina .

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