Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB), the central bank of Nepal, is to raise deposit worth Rs 60 billion to manage liquidity in the market.

Issuing a notice today, the Monetary Management Department of the Nepal Rastra Bank (NRB) said that it has called for bidding for the collection of the amount through a 19-day deposit collection tool. Bidding will take place until 3:00 pm today through Online Bidding System Software (OBSS).

According to the notice, the deposit collection equipment will be issued today itself and its principal and interest will be paid on October 7. The rate of interest will be determined through the bidding process.

Bidders can bid for a minimum of Rs 10 crore and a maximum of Rs 5 crore. Only the banks and financial institutions of class ‘A’, ‘B’ and ‘C’ licensed by the Nepal Rastra Bank will be allowed to participate in the deposit collection equipment.