Kathmandu. Nepal Rastra Bank (NRB) has been continuously pulling money after more liquidity accumulated in the banking system.
The central bank is withdrawing money from the banking system using deposit collection equipment. The central bank has decided to withdraw Rs 20 billion from the banking system through deposit collection on August 30.
According to the Rastra Bank, the bidding for deposit collection will have to be done at the interest rate and the interest rate can also be bid. Only ‘A’, ‘B’ and ‘C’ class banks and financial institutions will be allowed to participate in the bidding of deposit collection equipment. Bidding will be done through the online bidding system of the 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 86-day deposit collection instrument will be paid on November 22.
