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Published On:
September 8, 2024 05:15 PM NPT
By: Republica
NRB to mop Rs 100 billion from banking system
KATHMANDU, Sept 8: After excess liquidity in the banking system, the Nepal Rastra Bank (NRB) is set to mop Rs 100 billion in liquidity on Sunday.
The NRB has announced that it will mop Rs 100 billion in liquidity through a bidding instrument.
On August 18, the NRB mopped Rs 100 billion through a bidding instrument, which will mature on Sunday. On the same day, a new Rs 100 billion bidding instrument will be issued for 21 days. Previously, on August 28 and September 4, bidding instruments of Rs 40 billion each were issued. Out of these, Rs 22.2 billion was mopped on August 28 and Rs 37.8 billion on September 4. Both of these 21-day instruments are yet to mature.
Since the beginning of the current fiscal year, the NRB has mopped Rs 246.4 billion in liquidity through deposit collection tools. Of this amount, Rs 158.6 billion remains outstanding. With Rs 100 billion maturing today, the NRB plans to mop the same amount.
In addition, under the Standing Deposit Facility (SDF), Rs 5.675 trillion in liquidity has been mopped, with Rs 120.15 billion remaining outstanding. In the current fiscal year, Rs 2.1215 trillion has been withdrawn, with Rs 278.75 billion still outstanding, according to the NRB.
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