KATHMANDU, May 20: Nepal Rastra Bank (NRB) has announced plans to withdraw Rs 30 billion from the banking system for 91 days as part of its liquidity management measures.
The central bank said the amount will be collected through an auction-based deposit collection instrument. NRB on Wednesday invited proposals from banks and financial institutions participating in the bidding process.
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According to the central bank, the online auction will take place at 3:00 PM on Wednesday.
NRB stated that both principal and interest payments for the instrument will be settled on August 19.
The central bank has already absorbed nearly Rs 600 billion from the market through similar deposit collection tools, which are yet to mature.
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