Kathmandu. The Nepal Rastra Bank (NRB) has been pulling money continuously due to the accumulation of excess liquidity in the banking system.
The central bank is drawing money from the banking system using deposit collection equipment. The central bank of Nepal (NRB) is set to withdraw Rs 30 billion from the banking system through deposit collection on August 11.
According to the Nepal Rastra Bank, the bidding for deposit collection should be done at interest rate and multi-bidding can also be done at multi-interest rate. Only ‘A’, ‘B’ and ‘C’ class banks and financial institutions are eligible to participate in the bidding process. Bidding will be held through the online bidding system of Nepal Rastra Bank till 3 pm today.
Banks and financial institutions can bid up to a minimum of Rs 10 crore and a maximum of Rs 10 crore.
According to the NRB, the principal and interest of this 35-day deposit collection instrument will be paid on September 14.
