Kathmandu. Nepal Rastra Bank (NRB) is set to withdraw Rs 70 billion from the banking system on Friday. The Nepal Rastra Bank (NRB) is set to withdraw an additional Rs 70 billion on June 5 through a deposit collection tool to manage liquidity.
According to the NRB, interested banks and financial institutions have to apply for the application through bidding till 3:00 pm on Friday. Banks and financial institutions willing to offer deposits can bid up to a maximum of Rs 10 crore and a minimum of Rs 5 crore dividing the total amount of the total call amount.
Similarly, the principal and interest of the 77-day deposit collection instrument will be paid on August 22.
Although deposits in banks and financial institutions have been increasing in recent times, liquidity is piling up in banks due to slow loan investment. The Nepal Rastra Bank (NRB) has been drawing money from the banking system to manage the liquidity accumulated in the banking system.
