Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has decided to invest Rs 9.35 billion in the gratuity and pension fund for a period of one year. The bank has decided to keep the amount in the form of fixed deposit in the licensed banks and financial institutions.

Nepal Rastra Bank (NRB) has invited applications from interested banks and financial institutions. Interested applicants can submit their applications from 10:00 am to 12:00 noon.

Out of the total amount, Rs 7.48 billion has been allocated for commercial banks, Rs 1.40 billion for development banks and Rs 467.5 million for national level finance companies.

Nepal Rastra Bank (NRB) has set some conditions for the institutions that want to take deposits. The main condition is that there should not be more than 8 percent of the total loan investment (NPL). In addition, the institution should have been in operation for at least two years, maintain minimum capital fund, maintain net liquid assets ratio and debt-deposit ratio within the prescribed limits.

Similarly, according to the profit and loss calculation of the previous fiscal year, if the net profit is in the net profit and if immediate corrective action is taken, at least 6 months should have been completed. According to Section 86 (b) of the Nepal Rastra Bank Act, 2058, the number of shares that has not been declared problematic should have completed six months from the date of release and the shares allotted to the general public should be issued.