Nepal Rastra Bank (NRB) is preparing to withdraw Rs 60 arba from the banking system today to manage the extra liquidity in the market. The central bank will pull out this amount for 28 days through a short-term deposit collection tool.
In recent weeks, NRB has been regularly taking money out of the market every Sunday and Wednesday. Today’s operation is also part of the same routine. According to the central bank, online bidding will open from 2 PM today through the online bidding system.
Interested banks and financial institutions can apply for the total announced amount. They must bid for at least Rs 10 crore, and the bid amount must be divisible by Rs 5 crore. The principal and interest payment will be made on Poush 20.
Banks and financial institutions under categories A, B, and C that are licensed by Nepal Rastra Bank can take part in this deposit collection process.
