Is Liquidity Too High in BFI's Market? NRB Seeks to Absorb Rs. 60 Billion from Banks Today
Summary
Nepal Rastra Bank will absorb Rs. 60 billion from banks and financial institutions today to manage excess liquidity in the market. The 30-day deposit collection will be conducted through an online bidding process, with eligible A, B and C class institutions allowed to participate.
Key Points
- Nepal Rastra Bank will collect Rs. 60 billion in deposits from banks and financial institutions today to manage excess liquidity.
- The deposits will be accepted for 30 days through an online bidding process at 3 PM on Bhadra 31.
- Interest rates will be determined by bidding, and the minimum bid amount is Rs. 10 crore.
- Eligible A, B and C class banks and financial institutions approved by NRB can participate, and the deposits will be returned with interest on Ashwin 30, 2083.
