KATHMANDU, Sept 14: Nepal Rastra Bank (NRB) has decided to invest Rs 1.2 billion in fixed deposits across banks and financial institutions.
The central bank said the investment will be made from its subsidy and pension fund, calling on interested banks and financial institutions to submit applications by September 15.
Revised interest rate corridor system introduced
According to NRB, Rs 1.04 billion will be deposited in Class ‘A’ commercial banks, Rs 195 million in Class ‘B’ development banks, and Rs 65 million in Class ‘C’ finance companies.
Eligible institutions must have maintained the minimum required capital adequacy ratio, with non-performing loans not exceeding eight percent and net non-performing loans capped at three percent. Applicants are required to propose both the desired amount and interest rate in their submissions.
