KATHMANDU, April 9: The Nepal Rastra Bank (NEB) is set to withdraw an additional Rs 20 billion from the banking system.
The NRB is set to withdraw Rs 20 billion on Wednesday as the liquidity in banks and financial institutions has increased further. The NRB had withdrawn Rs 35 billion on Monday.
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To manage excess liquidity, the NRB has announced that it will withdraw the amount for 21 days through its deposit collection system. The NRB has been regularly withdrawing money from the market in recent months.
Banks and financial institutions wishing to participate in the deposit collection can submit their bids online by 3 pm on Wednesday, according to a notice issued by the NRB.