Kathmandu. Nepal Rastra Bank (NRB) is going to withdraw Rs 70 billion from the banking system on Wednesday. The Nepal Rastra Bank (NRB) is going to withdraw Rs 70 billion from June 26 through a deposit collection tool to manage liquidity in banks.
According to the NRB, interested banks and financial institutions have to apply for the post till 3:00 pm on Wednesday. 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 79-day deposit collection instrument will be paid on September 10.
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.
