. KATHMANDU: Nepal Rastra Bank (NRB), the central bank of Nepal, is to withdraw deposit worth Rs 40 billion from today to manage excess liquidity in the banking system. The Monetary Management Department of the Nepal Rastra Bank (NRB) is collecting the deposit for 21 days.
The bank will be bidding and issuing deposits subject to various features and conditions. According to the bank, the interest rate of deposit collection will be determined through bidding and the principal and interest will be paid on June 26.
Banks TAG_OPEN_div_8 and financial institutions (BFIs) who want to give deposits can bid up to a minimum of Rs 10 crore and a maximum of Rs 5 crore.
Interested banks and financial institutions of class ‘A’, ‘B’ and ‘C’ can apply for the application through the bidding process till 3:00 pm on Wednesday.TAG_OPEN_div_6 Bidding will be done through online bidding system software.
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