KATHMANDU: Nepal Rastra Bank (NRB) has announced plans to invest Rs 1.2 billion in fixed deposits across banks and financial institutions.
The investment will be made from the central bank’s gratuity and pension fund, which requires proper allocation. To that end, NRB has invited eligible banks and financial institutions to submit their applications by September 15.
According to the notice, Rs 1.04 billion will be invested in ‘A-Class’ commercial banks, Rs 195 million in ‘B-Class’ development banks, and Rs 65 million in ‘C-Class’ finance companies.
To qualify, institutions must meet the minimum total capital fund requirements set by the NRB. Additionally, the gross non-performing loan (NPL) ratio must not exceed 8 percent, and the net NPL ratio must not exceed 3 percent.
Interested institutions are required to submit proposals specifying the amount they wish to receive and the interest rate they are offering.
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