Nepal Rastra Bank to Collect Rs 35 Billion in Six-Month Deposits
Summary
Nepal Rastra Bank will collect Rs 35 billion from banks and financial institutions through a 180-day deposit collection instrument. The interest rate will be determined through bidding, with principal and interest payable on February 3.
Key Points
- Nepal Rastra Bank is collecting Rs 35 billion in six-month deposits from banks and financial institutions through bidding.
- Only 'A', 'B' and 'C' class licensed banks and financial institutions can participate, with bids accepted from a minimum of Rs 100 million.
- The deposit collection instrument will mature on February 3, and the interest rate will be set by the bidding process.
- Accepted bids will count toward SLR and liquidity ratio requirements but not toward the mandatory CRR.
