Nepal Rastra Bank Invites Bids for Rs 6 Billion in One-Month Deposits
Nepal Rastra Bank's Monetary Management Department has issued a call for bids to collect Rs 6 billion in one-month deposits. Only licensed 'A', 'B', and 'C' class banks and financial institutions are eligible to participate, with a minimum bid of Rs 100 million.
Kathmandu, Sept 16 — Nepal Rastra Bank (NRB), through its Monetary Management Department, has invited bids to collect one-month deposits worth Rs 6 billion.
The central bank stated that only licensed 'A', 'B', and 'C' class banks and financial institutions are eligible to participate in the deposit collection instrument.
According to the NRB, the minimum bid amount is Rs 100 million, and the maximum bid amount must be exactly divisible by the minimum bid amount.
This move is part of the central bank's ongoing efforts to manage liquidity in the banking system. The deposit collection instrument is a key monetary tool used by the NRB to absorb excess liquidity from the market.
In a related development, the NRB has introduced a revised interest rate corridor system, aimed at improving the transmission of monetary policy.
Meanwhile, in a separate political development, US Chargé d'Affaires Boldin called on Prime Minister Shah at the Office of the Prime Minister in Singha Durbar. During the meeting, Prime Minister Shah emphasized the need to further strengthen global cooperation and collective efforts to reduce climate-related risks.