NRB to withdraw another Rs 20 billion from banking system today
After excessive liquidity accumulated in the banking system, Nepal Rastra Bank is set to withdraw another Rs 20 billion today, Ashoj 14, through a deposit collection instrument. Bidding for this 30-day deposit collection instrument will take place via the online bidding system until 3 PM today.
Kathmandu. After excessive liquidity accumulated in the banking system, Nepal Rastra Bank has been continuously withdrawing money. The central bank has been pulling money from the banking system using the deposit collection instrument.
The central bank is set to withdraw another Rs 20 billion from the banking system today, Ashoj 14, through deposit collection.
The bidding for deposit collection must be done at the interest rate, and bids can also be placed on the interest rate, according to Nepal Rastra Bank. Only banks and financial institutions of classes ‘A’, ‘B’, and ‘C’ will be allowed to participate in the bidding for the deposit collection instrument. Bidding will take place via Nepal Rastra Bank's online bidding system until 3 PM today.
Banks and financial institutions willing to deposit can bid up to the total called amount, with a minimum of Rs 100 million and a maximum that is a multiple of Rs 100 million.
The principal and interest of this 30-day deposit collection instrument will be paid on the upcoming Kartik 13, according to Nepal Rastra Bank.