NRB to Withdraw Rs. 60 Billion from Market via Deposit Collection on Ashadh 8

With excess liquidity in the market, Nepal Rastra Bank (NRB) is set to withdraw up to Rs. 60 billion today, Sunday (Ashadh 8), through a 42-day deposit collection auction.

According to the Monetary Management Department of NRB, the funds will be collected using the deposit collection instrument. Only licensed “A”, “B”, and “C” class banks and financial institutions are eligible to participate in the auction.

The bidding must be submitted on an interest rate basis, and multiple bids with multiple rates are allowed. Applicants must clearly specify the amount and interest rate (up to four decimal places) they are offering.

All bids must be submitted through NRB’s Online Bidding System Software by 3:00 PM today.

The minimum bid amount is Rs. 100 million and can be increased in multiples of Rs. 50 million, allowing for full or partial allocation. Based on the submitted bids, NRB reserves the right to accept bids totaling Rs. 60 billion, more, or less.