Kathmandu. Nepal Rastra Bank (NRB) has decided to invest Rs 970 million in fixed deposits of banks and financial institutions.
Rs 970 million in rastra bank’s gratuity and pension fund is to be invested in fixed deposits of banks and financial institutions. Of the total amount, Rs 776 million will be invested in commercial banks, Rs 145.5 million in national-level development banks and the remaining Rs 48.5 million in national-level finance companies.
Nepal Rastra Bank (NRB) has called upon interested banks and financial institutions to offer interest rates. According to this, banks and financial institutions will have to propose interest rates by April 1, 2018.
According to the Rastra Bank, this fixed deposit will be valid for 366 days from April 1, 2019 to April 20, 2019.
