Kathmandu. Kathmandu: Nepal Rastra Bank (NRB) has decided to withdraw Rs 55 billion due to excessive liquidity in the banking system.

The central bank is going to withdraw Rs 55 billion from the banking system using deposit collection tools. According to the Rastra Bank, the principal and interest payment of the 21-day deposit collection equipment will be made on September 15.

Interest rates will be determined through bidding. It can be used as collateral in banks and financial institutions other than The Rastra Bank.

Banks and financial institutions wishing to make the deposit can bid up to the total call amount, dividing it by a minimum of Rs 100 million and a maximum of Rs 50 million. According to the Rastra Bank, the bid will be held at 3 pm today.

Deposit collection will be at an interest rate. In addition, multiple bids can also be made at multiple interest rates. Only ‘A’, ‘B’ and ‘C’ category banks and financial institutions will be allowed to participate in the bidding of deposit collection equipment.