KATHMANDU, May 4: Nepal Rastra Bank (NRB) is set to withdraw Rs 50 billion from the market as part of its liquidity management efforts. The NRB is going to raise deposits of Rs 50 billion through a bidding process for 21 days.
To facilitate this, the bank has invited proposals from banks and financial institutions. The bidding will be conducted online at 3 pm on Sunday.
The principal and interest amount will be repaid on May 25. Previously, the central bank had mopped up Rs 136 billion through deposit collection instruments, which is yet to mature.