Kathmandu. Nepal Insurance Authority (NIA) has decided to invest in fixed deposits of banks. NEA is to invest in fixed deposits of various commercial banks and development banks.
Interested banks will have to submit a quote stating the maximum return they can give.
Banks can submit sealed tenders within 7 days. The validity period of the sealed quota should be at least 15 days. The authority has not mentioned the amount to be invested in fixed deposits.
The maximum interest rate that can be provided on fixed deposits, the last published quarterly financial statement, the position of profit or loss of the last three years, the non-performing assets of the bank, the loan-deposit ratio of the bank, the year of establishment of the bank, the details of the capital adequacy fund should be submitted along with the documents that should be submitted.
