KATHMANDU: Nepal Rastra Bank (NRB) has decided to invest Rs 1.10 billion in various banks and financial institutions.

Issuing a notice on Tuesday, NRB, the monetary, supervisory and regulatory body of all the commercial banks, financial institutions and micro-finances informed that the money in various funds will be invested in ‘A’, ‘B’ and ‘C’ class banks and financial institutions.

For that, NRB will invest Rs 886.4 million in Class A commercial banks, Rs 166.1 million in Class B development banks and Rs 55.3 million in Class C national level development banks.

Banks and financial institutions wishing to take the amount have been asked to offer interest rate as the amount is to be kept in term deposit for 366 days.