Last week, the bank withdrew Rs 40 billion for 175 days.
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The Nepal Rastra Bank is set to withdraw another Rs 30 billion today (Sunday) after the excess liquidity in the financial system did not decrease.
The Rastra Bank has been withdrawing money for a long period of time in recent days after the amount of money that can be lent to banks and financial institutions (liquidity) is high. The bank has stated that the Rastra Bank is going to withdraw the amount for 84 days through the deposit collection tool to manage more liquidity. Last week, the bank had withdrawn 40 billion rupees for 175 days.
The Rastra Bank has been regularly withdrawing money from the market on Sundays and Wednesdays.
The Rastra Bank has stated in the notice that banks and financial institutions that want to place money in deposit collection can bid online until 2 pm today.
Only banks and financial institutions of category 'A', 'B' and 'C' will be allowed to participate in the bidding for deposit collection tools. The Rastra Bank's notice also states that the deposit collection tools purchased in this way can be used as collateral in other banks and financial institutions.
The Rastra Bank's notice states that the remainder can be divided by a minimum of 100 million rupees and a maximum of 50 million rupees in deposit collection. The Nepal Rastra Bank has stated that the bid for deposit collection will be done at interest rates, while multiple bids can also be done at multiple interest rates.
