In the last fiscal year, there was an average excess liquidity of more than 6 billion in banks and financial institutions every month. At the end of June of the last financial year, this amount had increased to 10.5 trillion rupees.
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The National Bank is going to withdraw 60 billion rupees today, Sunday, as the amount (liquidity) that can be given to banks and financial institutions has increased. Rastra Bank has said that it is going to withdraw the amount for 31 days through the deposit collection tool for excess liquidity management.
In the last financial year, there was an average excess liquidity of more than 6 billion in banks and financial institutions every month. At the end of June of the last financial year, this amount had increased to 10.5 trillion rupees.
Although the first month of July of the new financial year is ending, there is more liquidity in the bank and financial system around 10 and a half trillion. This is why the National Bank is withdrawing money from the market twice a week (Sunday and Wednesday).
In order to withdraw money from the market, the National Bank has invited the banks and financial institutions to talk online till 3 pm today. It is mentioned in the notification of Rashtra Bank that when dividing by a minimum of 10 million rupees and a maximum of 5 million rupees, the remainder is divided.
Only banks and financial institutions of 'A', 'B' and 'C' category will be allowed to participate in deposit collection device. The Rashtra Bank's notification also mentions that the deposit collection equipment purchased in this way can be used as collateral in other banks and financial institutions.
The Rastra Bank has stated that while deposit collection will be negotiated on the interest rate, multiple interest rates can also be negotiated.
