Kathmandu. Nepal Rastra Bank (NRB), the central bank of Nepal, is pulling deposits of Rs 35 billion for 10 days on Sunday. The Nepal Rastra Bank (NRB) is again pulling deposits through bidding today due to excess liquidity.

The total deposit has now reached more than Rs 75 trillion. The central bank has been drawing liquidity through deposit collection tools and fixed deposit facilities to increase liquidity and interest rate management in the financial system. Only the ‘A’, ‘B’ and ‘C’ class banks and financial institutions licensed by the Nepal Rastra Bank are eligible to participate in the bidding. While allocating the long-term deposit collection amount, the lowest rate of bidding will be done according to the interest rate bid by the counter parties and the amount called will be gradually allocated in order of priority.

According to the NRB, the bidding process will be done through the online purchase system today and the interest rate will be determined through bidding while the principal and interest of the deposit collection equipment to be bid today will be paid on December 22, 2082. The minimum bid amount will be Rs 10 crore and the maximum amount will be divided by Rs 5 crore.