KATHMANDU, March 16: The Nepal Rastra Bank (NRB) has mopped Rs 40 billion from the banking system today. With excess liquidity accumulating in banks and financial institutions, the NRB has drawn this amount for 21 days.
According to NRB, bids for deposit collection must be placed with specified interest rates, and multiple bids can be submitted at different rates. Only banks and financial institutions classified under categories 'A', 'B', and 'C' are eligible to participate in the bidding process.
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NRB has stated that the principal and interest payments for this deposit collection instrument will be made on April 6.
