Nepal Rastra Bank Moves to Absorb NPR 50 Billion in Deposits Amid Excess Liquidity
Summary
Nepal Rastra Bank is set to absorb NPR 50 billion in deposits through a bidding process to manage excess liquidity in the financial system. The process prioritizes bids with the lowest interest rates, involving licensed banks and financial institutions.
Key Points
- Nepal Rastra Bank will absorb NPR 50 billion in deposits through a bidding process to control excess liquidity.
- The total deposits in the financial system have surpassed NPR 76 trillion.
- Only licensed 'A', 'B', and 'C' class banks and financial institutions authorized by NRB can participate in the bidding.
- The interest rate for deposits will be determined through the bidding process with payments scheduled for Chaitra 8, 2083 BS.
