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As the amount of loanable money (liquidity) in banks and financial institutions is high, the National Bank is going to withdraw 60 billion rupees today on Wednesday.
Rastra Bank is going to withdraw the amount for 63 days through deposit collection tool for excess liquidity management. Although there has been a lot of money in the market for a long time, the National Bank has been withdrawing money at least twice a week for management purposes. At the same time, the National Bank is going to withdraw 60 billion rupees today.
In the previous weeks money was withdrawn from the market for 21 days, but now money is withdrawn for 63 days (a long time). According to the National Bank, liquidity management has to be done for a long time as the liquidity in the bank is increasing and the loan demand is not increasing.
For this purpose, the National Bank has called on banks and financial institutions to participate online till 3 pm today. It is mentioned in the notice of Rashtra Bank that the balance can be divided in multiples of a minimum of 10 crores and a maximum of 5 crores.
The Rastra Bank has said that while deposit collection will be negotiated on the interest rate, multiple interest rates can also be negotiated. It has been arranged that only 'A', 'B' and 'C' category banks and financial institutions can participate in deposit collection instruments.
