Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has decided to exploit deposits of Rs 1 trillion 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) has decided to withdraw Rs 100 billion from the banking system through deposit collection 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.

The Nepal Rastra Bank (NRB) has stated that the bidding for deposit collection should be done at interest rate and multiple bidding can also be done at multiple interest rates.TAG_OPEN_span_10 Only ‘A’, ‘B’ and ‘C’ class banks and financial institutions are eligible to participate in the bidding process.

According to the NRB, the principal and interest of the 19-day deposit collection equipment will be paid on July 30.