Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) is to withdraw Rs 100 billion from the banking system on Tuesday. The Nepal Rastra Bank (NRB) is going to raise the amount from the banking system today after there was excess liquidity in the market. Nepal Rastra Bank (NRB) has fixed the bidding period for 35 days at 3:00 pm today. The total amount that can be bid is up to a minimum of Rs 10 crore and a maximum of Rs 50 million divided by the total call amount.
The principal and interest payment is scheduled for March 25 and the interest rate will also be through bidding.
According to the Nepal Rastra Bank, the bidding for deposit collection will have to be done at the interest rate. Multiple bids can also be made at multiple interest rates. Only ‘A’, ‘B’ and ‘C’ class banks and financial institutions licensed by Nepal Rastra Bank are eligible to participate in the bidding process.
The amount to be deposited and the rate of interest (up to four digits in the case of decimal) should be mentioned in the bidding for deposit collection. According to the Rastra Bank, the amount called for collection of deposits will be gradually distributed keeping the lowest interest rate in the first priority order while allocating the amount called for deposit collection.
Leave your comment