KATHMANDU, March 22: Nepal Rastra Bank (NRB) has announced plans to absorb Rs 50 billion in excess liquidity from the banking system.
The central bank on Sunday invited commercial banks to invest the amount for a 14-day period through an online bidding process. Banks can submit their bids via the designated system until 3 pm. The interest rate will be determined through competitive bidding.
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According to NRB, both the principal and accrued interest will be repaid on April 5. The amount invested will also be eligible for calculation under the statutory liquidity ratio.
