Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has decided to invest Rs 3.76 billion in the gratuity and pension fund.

The central bank, through a notice, has urged the applicants to apply by 7:00 pm on November 22 specifying the amount they want to receive and the interest rate proposed to receive the amount.

The amount is to be invested for one year. According to the information, Rs 3.8 billion will be invested in ‘A’ class commercial banks, Rs 564 million in ‘B’ class development banks and Rs 188.0 million in ‘C’ class finance companies.

The bank or financial institution should have completed at least two years of operation, maintained minimum total capital fund as stipulated by the central bank and the non-performing loan should be eight percent of the total loan loan and the net non-performing loan ratio should not exceed three percent.