NRB to withdraw Rs 50 billion from banking system today
Summary
Nepal Rastra Bank plans to withdraw Rs 50 billion from the banking system through a 25-day deposit auction. Eligible banks and financial institutions can participate in the competitive bidding process today.
Key Points
- Nepal Rastra Bank will withdraw Rs 50 billion from the banking system today due to excess liquidity.
- The withdrawal will be conducted via a 25-day deposit collection instrument in a competitive bidding process.
- The principal and interest will be repaid on September 28.
- Only licensed banks and financial institutions of Class ‘A’, ‘B’, and ‘C’ are eligible to participate in the bidding.
