KATHMANDU, May 25: Nepal Rastra Bank (NRB) is set to withdraw Rs 30 billion from the market as part of its liquidity management efforts. The NRB is going to raise deposits of Rs 30 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.
NRB to mop additional Rs 40 billion from banking system for liq...
The amount that can be bid should be at least Rs 100 million and must be in multiples of Rs 50 million, with any remainder discarded, up to the total amount being called.
The principal and interest payment is scheduled for June 15. The interest rate will also be determined through bidding. According to the central bank, the bidding for deposit collection must be done based on the interest rate. Multiple bids with different interest rates are also allowed.
