Kathmandu. Nepal Rastra Bank (NRB) has decided to deposit Rs 3.70 billion in fixed deposits. The NRB is going to keep the amount in the gratuity and pension fund for one year in fixed deposit. Nepal Rastra Bank (NRB) has issued a notice to the banks and financial institutions (BFIs) to send proposals for the same.

As per the notice, Rs 2.96 billion has been deposited in commercial banks, Rs 555 million in development banks and Rs 185 million in finance companies.

Interested banks and financial institutions have to submit proposals to the Nepal Rastra Bank along with the interest rates they will pay on November 10 (Wednesday). In this way, banks and financial institutions will have to follow the conditions set for keeping the money of the Rastra Bank in fixed deposit.

According to the provision, the concerned institution should have completed at least two years of operation, the minimum capital fund ratio should be maintained, the non-performing loan should be 8 percent of the total loan, the net non-performing loan ratio should not exceed 3 percent and the loan-deposit (CD) ratio should be within the prescribed limit.