Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has decided to collect deposits to manage excess liquidity in banks and financial institutions. Nepal Rastra Bank (NRB) is set to collect Rs 20 billion in deposits for a period of 63 days.

The central bank is going to raise deposits through deposit collection equipment bidding. In this, banks and financial institutions can submit online bids till 3:00 pm today. The interest rate of the deposit will be determined through bidding. Principal and interest payment will be made on April 25, 2082.

Banks and financial institutions can bid for a minimum of Rs 10 crore and a maximum of Rs 5 crore. Deposit collection will have to be bid at interest rate.

Multiple bids can also be made at multiple interest rates. While allocating the amount called for collection of deposits, the lowest interest rate as per the bid will be gradually allocated up to the amount called for in the first priority order