Too Much Money in Banks? NRB Steps In to Absorb Rs. 40 Billion
Summary
Nepal Rastra Bank plans to absorb Rs. 40 billion from banks and financial institutions through an online bidding process to manage excess liquidity.
Key Points
- Nepal Rastra Bank will collect Rs. 40 billion from banks and financial institutions through bidding.
- The deposit period is set for 168 days with bids on April 22 via an Online Bidding System.
- Minimum bid amount is Rs. 10 crore, maximum Rs. 5 crore per bid, with multiple bids allowed.
- Deposited funds won't count towards Cash Reserve Ratio but will affect other liquidity ratios and cannot be withdrawn early.
