Nepal Rastra Bank to Withdraw Rs 45 Billion from Banking System
Summary
Nepal Rastra Bank is withdrawing Rs 45 billion from the banking system through a deposit collection instrument auction to manage excess liquidity in the financial system.
Key Points
- Nepal Rastra Bank is withdrawing Rs 45 billion from the banking system on Friday.
- The withdrawal is conducted through a deposit collection instrument auction for 42 days.
- Only 'A', 'B', and 'C' class banks and financial institutions licensed by the central bank can participate.
- The interest rate for the auction will be determined based on bids, prioritizing lowest interest rates.
- Principal and interest will be paid on Ashad 12, 2083 according to the central bank's open market operations procedure.
