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Nepal Rastra Bank withdraws Rs 40 billion from banking system to manage liquidity

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लगानी न्यूज

. KATHMANDU: Nepal Rastra Bank (NRB) has released Rs 40 billion to manage excess liquidity in the banking system.  Nepal Rastra Bank (NRB) is to withdraw Rs 40 billion from the banking system using deposit collection equipment. The bid for this will be held at 3 pm today.

Banks and financial institutions wishing to give deposits can bid up to a minimum of Rs 10 crore and a maximum of Rs 5 crore.TAG_OPEN_div_9

According to the Rastra Bank, the bidding for deposit collection should be done at interest rate and multi-bidding can also be done at multiple interest rates.TAG_OPEN_div_7 Only ‘A’, ‘B’ and ‘C’ class banks and financial institutions are eligible to participate in the bidding process. According to Rastra Bank, the principal and interest of this 49-day deposit collection instrument will be paid on June 17.

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