Banks Can Show Interest Earned Until Shrawan 15 as Income

Kathmandu. Banks and financial institutions can show the interest earned until Shrawan 15 as income for this year.

The Nepal Rastra Bank has made a special arrangement for the accounting of banks and financial institutions, providing this facility.

According to the directive issued by the Nepal Rastra Bank on Wednesday, the interest amount received within 15 days of the end of the financial year, excluding the interest amount received during the financial year, can be accumulated in the regulatory fund.

Previously, it was mandatory to accumulate the interest amount received during the financial year in the regulatory fund.

The provision to consider the income earned until Ashar month-end as regular income is expected to affect the banks’ profit-making capacity.

After the Nepal Rastra Bank’s directive, banks can now work to earn interest for another 15 days.