Kathmandu. Nepal Insurance Authority (NIA) has decided to invest in fixed deposits of banks. NEA has decided to invest in fixed deposits of various commercial banks and development banks as per the bank’s stock investment policy.
The banks have called on the banks to submit sealed rates within 6 days from today, stating the maximum returns they can give.
Similarly, the validity period of the sealed application should be at least 15 days. For this, the bank will have to submit documents disclosing the maximum interest rate that can be provided on fixed deposits, the last published quarterly financial statements, the status of profit or loss of the last three years, the non-performing assets of the bank, the bank’s loan deposit ratio and the capital adequacy fund details.
The authority has not disclosed the amount to be invested at present.
