Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB), the central bank of Nepal, has decided to deposit Rs 60 billion to manage excess liquidity in banks and financial institutions. The Nepal Rastra Bank (NRB) is going to withdraw money from the banking system using deposit collection equipment.

Nepal Rastra Bank (NRB) is to withdraw Rs 60 billion from the banking system today. According to the NRB, the bidding will take place at 3 pm today.

Banks and financial institutions can bid for a minimum of Rs 10 crore and a maximum of Rs 5 crore.

According to the Nepal Rastra Bank, the bidding for deposit collection should be done at interest rate and multi-bidding can also be done at multi-interest rate. Only ‘A’, ‘B’ and ‘C’ class banks and financial institutions are eligible to participate in the bidding process.

According to the central bank, the principal and interest of the 23-day deposit collection instrument will be paid on July 3.