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Nepal Rastra Bank to collect Rs 20 billion deposit to manage liquidity

{{TAG_OPEN_div_16} Kathmandu. Nepal Rastra Bank (NRB) is going to withdraw an additional Rs 20 billion liquidity from the market on Monday (today). The central bank is going to raise deposits from the market on an emergency basis to manage the increase in liquidity due to cash flow in the banking system.

The bank, which had pulled in Rs 90 billion on August 26, is again raising deposits of Rs 20 billion for 86 days. The bank has been raising money from the market continuously in a short period.TAG_OPEN_div_14

The bank will bid and issue deposits subject to various features and conditions. The interest rate of deposit collection will be determined through bidding, while the principal and interest payment will be done on November 22.

Banks and financial institutions (BFIs) who want to give deposits can bid up to the total call amount by dividing by a minimum of Rs 10 crore and a maximum of Rs 5 crore.TAG_OPEN_div_10

Interested ‘TAG_OPEN_div_8 A’, ‘B’ and ‘C’ class banks and financial institutions can apply through bidding till 3 pm on Monday. Bidding will be done through the online bidding system software.

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