KATHMANDU: Nepal Rastra Bank (NRB) is set to withdraw Rs 50 billion from the banking system on Wednesday due to excess liquidity.
The central bank will collect the funds through a 25-day deposit instrument via an auction process. The principal amount along with interest will be repaid on September 28.
NRB stated that during the auction, bids can be placed in multiples of Rs 100 million, with a minimum of Rs 50 million, up to the total announced amount.
Only banks and financial institutions with licenses from NRB under categories “A,” “B,” and “C” are eligible to participate in the auction.
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