Nepal Rastra Bank to Collect 20 Billion from BFI's; Interest to be Returned after 3 Months
Summary
Nepal Rastra Bank will collect Rs. 20 billion from banks and financial institutions through a bidding process for 86 days. The deposits will be returned with interest after three months, with the rate determined by the bidding.
Key Points
- Nepal Rastra Bank has announced it will collect Rs. 20 billion in deposits from banks and financial institutions through a bidding process.
- The deposits will be taken for 86 days, and the bidding will be held via the Online Bidding System at 3 PM on Bhadra 15.
- The interest rate will be determined through bidding, with a minimum bid size of Rs. 10 crore and a maximum in multiples of Rs. 5 crore.
- Only licensed A, B and C class banks and financial institutions approved by NRB can participate, and the money will be returned with interest on Mangis 9, 2083.
