Kathmandu. Nepal Rastra Bank (NRB) has decided to invest Rs 9.35 billion for its employees.
The bank is investing the amount in the gratuity and pension fund for a period of one year. According to the NRB, it wants to keep the amount in the form of fixed deposit in licensed banks and financial institutions. Interested banks and financial institutions can invite applications. Banks can apply for the post from 10 am to 12 noon.
The central bank has allocated Rs 7.48 billion for commercial banks, Rs 1.40 billion for development banks and Rs 467.5 million for national level finance companies.
Banks and financial institutions seeking such deposits should not have a non-performing loan (NPL) of 8 percent of their total deposits. Similarly, other conditions include that the bank or financial institution should have completed at least two years of operation, should maintain the minimum total capital fund as determined by the bank, maintain the net liquid assets ratio as determined by the bank from time to time, the loan-deposit ratio is within the limit determined by the bank from time to time, and the net profit of the nearest financial year is in the profit or loss calculation of the previous fiscal year. If immediate corrective action has been taken, it has been prescribed that at least 6 months have been completed since the release.
According to Section 86 (B) of the Nepal Rastra Bank Act, 2058 BS, the government has not been declared problematic, if it is declared problematic, the period of six months from the release of the issue has been completed and the shares allotted to the general public have already been issued.
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