KATHMANDU, May 25: Nepal Rastra Bank (NRB) is set to withdraw Rs 80 billion from the market as part of its liquidity management efforts. The NRB is going to raise deposits of Rs 80 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 Wednesday.
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The principal and interest payment is scheduled for June 18. Previously, the NRB had mopped Rs 161.35 billion through deposit collection instruments, which is yet to mature.
