KATHMADU: The Nepal Rastra Bank (NRB) has announced it will withdraw Rs 30 billion from the banking system through a bidding process on Wednesday.
According to the central bank, financial institutions can submit their bids online until 3:00 PM. The fund absorption will remain effective until September 14.
Bids can be placed in amounts ranging from a minimum of Rs 1 billion, with increments of Rs 500 million, up to the total announced amount. Only licensed “A,” “B,” and “C” class banks and financial institutions are eligible to participate in the process, NRB said.
The measure is part of the central bank’s regular open market operations aimed at managing liquidity in the financial sector.
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