KATHMANDU: Nepal Rastra Bank (NRB) has called for bids to collect deposits worth Rs 60 billion from the market as part of its liquidity management measures.
The Monetary Management Department of the central bank issued a notice on Thursday stating that the amount will be collected through a 19-day deposit collection instrument. Bidding will be conducted through the Online Bidding System Software (OBSS) until 3 p.m. today.
The deposit collection instrument will be issued on Thursday, and the principal amount along with interest will be repaid on October 9. The interest rate will be determined through the competitive bidding process.
Banks and financial institutions can submit applications up to the total call amount, with bids required to be in multiples of a minimum Rs 50 million and a maximum Rs 100 million.
Only Class ‘A’, ‘B’ and ‘C’ banks and financial institutions licensed by NRB will be eligible to participate in the deposit collection process.
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