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Microfinance financial institutions also have to determine the interest rate of loans through the base rate. In the semi-annual review of the monetary policy released on Tuesday, the National Bank has stipulated that starting from May 2082, microfinance institutions should also determine the interest rate of loans through the Aadhaar rate.
So far, the base rate has not been implemented in the case of microfinance institutions. Therefore, the National Bank has issued an instruction not to take a loan of more than 15 percent for microfinance. After the implementation of the new system, the limit of maximum interest rate of 15 percent will be abolished .
