Kathmandu. Nepal Rastra Bank (NRB) has been continuously withdrawing money using deposit collection tools as there is more liquidity in the banking system.
The central bank is going to withdraw Rs 30 billion from the banking system again on April 15. In order to manage more liquidity, the central bank is going to withdraw money from the banking system again today using deposit collection tools. According to the Rastra Bank, the bid will be held at 3 pm today.
Banks and financial institutions that want to make deposits can bid up to the total call amount by dividing it by a minimum of Rs 100 million and a maximum of Rs 50 million.
According to the Rastra Bank, deposit collection will have to be bid at interest rates and multiple bids can also be made at multiple interest rates. Only ‘A’, ‘B’ and ‘C’ category banks and financial institutions will be allowed to participate in the bidding of deposit collection equipment.
According to the Rastra Bank, the principal and interest payment of this 21-day deposit collection tool will be made on May 24.
In recent times, there has been a liquidity crisis in the banking system due to lack of demand for credit. Banks and financial institutions are being forced to give money to the central bank at an interest rate of around 3 percent.
