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Nepal Rastra Bank to invest more than Rs 3 billion

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. KATHMANDU: Nepal Rastra Bank (NRB), the central bank of Nepal, has decided to invest Rs 3.53 billion in the gratuity and pension fund.

The central bank, through a notice, has asked interested banks and financial institutions to apply by 7:00 pm today along with the amount they want to receive and the proposed interest rate.TAG_OPEN_div_11

The Nepal Rastra Bank (NRB) is going to invest the amount for one year.TAG_OPEN_div_9 According to the notice, it will invest Rs 2.82 billion in commercial banks, Rs 529.5 million in development banks and Rs 176.5 million in finance companies.

The bank or financial institution should have completed two years of operation, should have a minimum total capital fund and should have maintained a minimum of eight percent of total loan credit and the net non-performing loan ratio should not exceed three percent TAG_CLOSE_div_7.

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