KATHMANDU: Nepal Rastra Bank (NRB) is investing nearly Rs 2 billion from its gratitude and pension fund in ‘A’ listed commercial banks, ‘B’ listed national level development banks and ‘C’ listed national level finance companies for 366 days.
The Central Bank is investing Rs 1.60 billion as Fixed Deposit (FD) in ‘A’ listed commercial bank. Similarly, the bank is investing Rs 300 million as FD in ‘B’ listed and Rs 100 million as FD in ‘C’ listed BFIs from September 18, 2022 to September 17, 2023.
The NRB has issued a notice in which the interested BFIs are asked to submit a duly sealed price quotation form with the specified amount the BFIs willing to take as FD by September 7.
The BFIs willing to take the FD must have come into operation for two years and should have maintained the required minimum capital fund, among other criteria set by the Central Bank.
The BFIs must fulfill the categories including the non-performing loan should be less than 5 percent of total loan extension, net liquid assets should meet 20 percent or more of the total domestic deposits will be eligible.
However, BFIs led by Directors, CEO or Executive Directors against whom NRB has taken action will not get an opportunity to participate.
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