Nepal Rastra Bank to Collect 45 Billion from Bank and Financial Institution Today
Summary
Nepal Rastra Bank plans to collect Rs. 45 billion from banks and financial institutions via a bidding process on June 17 to manage excess liquidity.
Key Points
- Nepal Rastra Bank will collect Rs. 45 billion deposits from banks and financial institutions through bidding today.
- Deposits are for 28 days with interest rates decided by bidding, with a minimum bid of Rs. 10 crore.
- Only licensed 'A', 'B', and 'C' class banks and financial institutions approved by NRB can participate.
- Deposited amounts won't count as CRR but will impact other liquidity calculations; early withdrawal is prohibited.
