Kathmandu, December 3: To manage the excess liquidity in the banking system, Nepal Rastra Bank (NRB) is set to withdraw 60 billion rupees from the banking system today. The central bank will withdraw this amount for 28 days through a short-term instrument under deposit collection.
NRB has stated that online bidding will be open from 2 PM today through the online bidding system.
Interested banks and financial institutions can apply for the total announced amount, with a minimum bid of 100 million rupees and a maximum bid that must be divisible by 50 million rupees without leaving any remainder. The principal and interest payment will be made on the 20 of Poush.
Banks and financial institutions categorized as Class A, B, and C and licensed by Nepal Rastra Bank will be eligible to participate in the deposit collection.
People’s News Monitoring Service.
Comments:
Leave a Reply