KATHMANDU, May 8: Nepal Rastra Bank (NRB) is set to absorb Rs 40 billion from the banking system for 96 days as part of its liquidity management measures.
The central bank said it will collect the amount through a deposit collection instrument under a bidding process. Proposals have been invited from banks and financial institutions, with online bidding scheduled for Friday at 3 PM.
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According to the bank, both the principal amount and interest will be repaid on August 27.
Nepal Rastra Bank has been using deposit collection instruments to withdraw excess liquidity from the market. The central bank currently has around Rs 716 billion already absorbed through similar instruments that are yet to mature.
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