The National Bank is going to keep the amount in the gratuity and pension fund in a fixed deposit for one year.
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The National Bank is going to keep Rs 3.7 billion in fixed deposits. The National Bank has issued a notice to banks and financial institutions to send proposals for this. The National Bank is going to keep the amount in the gratuity and pension fund in fixed deposits for one year.
Accordingly, a notice has been issued to deposit Rs 2.96 billion in commercial banks, Rs 555 million in development banks and Rs 185 million in finance companies.
Interested banks and financial institutions will have to send a proposal to the Rastra Bank along with the interest rate they will offer by Kartik 26 (Wednesday). In this way, banks and financial institutions will have to follow the conditions specified for keeping Rastra Bank's money in fixed deposits.
According to which, the concerned institution should have completed at least 2 years of operation, the minimum capital fund ratio should be maintained, non-performing loans should not exceed 8 percent of total loans and net non-performing loans should not exceed 3 percent, and the loan-deposit (CD) ratio should be within the prescribed limit.
