Nepal Rastra Bank to Collect NPR 85 Billion in Deposits
Summary
Nepal Rastra Bank will collect NPR 85 billion in three-month deposits from banks and financial institutions through an online bidding process. The move is aimed at absorbing excess liquidity in the market and managing monetary conditions more effectively.
Key Points
- Nepal Rastra Bank will collect NPR 85 billion in three-month deposits from banks and financial institutions.
- Bidding will be conducted through the Online Bidding System Software (OBSS), with interest rates determined by the bidding process.
- Only 'A', 'B' and 'C' class banks and financial institutions licensed by the central bank can participate.
- The central bank uses deposit collection instruments periodically to manage excess liquidity in the market.
