Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has decided to invest Rs 1.20 billion in fixed deposits in banks and financial institutions.

Interested banks and financial institutions have been urged to participate as they have to invest the amount in the bank’s gratuity and pension fund. The central bank has asked the applicants to apply by September 30.

The NRB will invest Rs 1.04 billion in ‘A’ class commercial banks, Rs 195 million in ‘B’ class development banks and Rs 65 million in ‘C’ class finance companies.

The notice states that the minimum capital fund determined by the bank should be maintained and the non-performing loan ratio should not exceed eight percent of the loan and the net non-performing loan ratio should not exceed three percent. The central bank has also requested the applicants to apply for the amount and interest rate they want to take.