Nepal Rastra Bank withdraws 50 billion from the market for 86 days

Banks and financial institutions wishing to place funds in the deposit collection will be able to bid online until 2 pm today.

मंसिर ७, २०८२

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Nepal Rastra Bank withdraws 50 billion from the market for 86 days

The Nepal Rastra Bank has started withdrawing Rs 50 billion again 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 due to the high amount of money (liquidity) that can be given to banks and financial institutions. In the same vein, today it is going to withdraw money from the market for 86 days.

For the last three years, the Rastra Bank has been regularly withdrawing money from the market on Sundays and Wednesdays. Banks and financial institutions that want to place money in deposit collection can bid online until 2 pm today, according to the notice issued by the Rastra Bank.

The Rastra Bank's notice states that the bid for deposit collection can be divided by a minimum of 100 million and a maximum of 50 million rupees, leaving the remainder. The Rastra Bank has stated that the bid for deposit collection will have to be made at the interest rate, and multiple bids can also be made at multiple interest rates.

Only banks and financial institutions of 'A', 'B' and 'C' categories will be allowed to participate in the bid for deposit collection equipment. The Rastra Bank's notice also states that the deposit collection equipment purchased in this way can be used as collateral in other banks and financial institutions.

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