NRB to mop Rs 50 billion for liquidity management

Published On: July 17, 2024 02:40 PM NPT By: Republica  | @RepublicaNepal


NRB to mop Rs 50 billion for liquidity management

KATHMANDU, July 17: Nepal Rastra Bank (NRB) is set to mop Rs 50 billion on Wednesday to address excess liquidity in the banking system.

The mopping process will be carried out through a 21-day bidding period. The NRB has invited banks and financial institutions to submit proposals by 3 PM today.

Bidders are required to bid amounts that are strictly between Rs 100 million and Rs 50 million, ensuring no remainder. Additionally, Rs 950 million obtained through the bidding process is yet to mature.

On Tuesday, the NRB collected Rs. 372 billion from banks and financial institutions at an interest rate of three per cent through the Standing Deposit Facility (SDF).

 

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