Department of Cooperatives Fixed the Reference Interest Rate:
Government of Nepal, Ministry of Land Management, Cooperatives and Poverty Alleviation, Department of Cooperatives, New Baneshwor, Kathmandu
Notice of the Department of Cooperatives to the cooperatives to apply the reference interest rate:
According to the recommendation of the Reference Interest Rate Determination Committee under Article 11 of the Cooperatives Act, 2074 BS, the reference interest rate has been fixed for the purposes of the cooperatives with effect from 2077-07-15.
From that date, all cooperatives are advised to make arrangements to apply interest rate to their members so that the loan disbursement does not increase to a maximum of 14.71 percent and the difference in savings rate remains less than 6 percent.
As the reference interest rate prescribed as per the Cooperatives Act, 2044 will remain as the direct interest rate for cooperatives; If found not implemented, action will be taken according to the cooperative law.
