NRB to withdraw Rs 30 billion again from banking system today
Nepal Rastra Bank will withdraw Rs 30 billion from the banking system today, Ashoj 2, through a deposit collection instrument after excess liquidity piled up. Bidding for this 28-day instrument will take place online until 3 pm today.
Kathmandu. After excess liquidity piled up in the banking system, Nepal Rastra Bank has been continuously withdrawing money. The central bank has been pulling money from the banking system using a deposit collection instrument.
The central bank will again withdraw Rs 30 billion from the banking system through deposit collection today, Ashoj 2.
The bidding for deposit collection must be done at the interest rate, and bids can also be made on the interest rate, according to the central 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 through the central bank's online bidding system until 3 pm today.
Banks and financial institutions willing to deposit can bid at least Rs 100 million and up to the total called amount, in multiples of Rs 100 million. The central bank has stated that the principal and interest of this 28-day deposit collection instrument will be paid on Ashoj 30.