The National Bank has been withdrawing money for a long period of time in recent days as the excess liquidity in the financial system has not decreased.
Nepal Rastra Bank is set to withdraw Rs 35 billion today. The central bank has been withdrawing money for a long period of time in recent days as the excess liquidity in the financial system has not receded.
In the same vein, the mentioned amount is going to be withdrawn from the market for 10 days today. Only banks and financial institutions of category 'A', 'B' and 'C' will be allowed to participate in the bidding for deposit collection equipment. The Rastra Bank's notification also states that the deposit collection equipment purchased in this way can be used as collateral in other banks and financial institutions.
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 keep money in deposit collection can bid online until 2 pm today, according to the notification issued by the Rastra Bank.
The Rastra Bank's notification states that the bid can be divided by a minimum of 100 million and a maximum of 50 million rupees, leaving the remainder. The bidding for deposit collection will have to be done at the interest rate, and multiple bidding can also be done at multiple interest rates, according to the Rastra Bank.
