NRB calls for deposit collection of Rs 45 billion through bidding process

KATHMANDU: The Nepal Rastra Bank (NRB) Department of Monetary Management has made a call for bidding and issuance of a deposit collection instrument worth Rs 4.5 billion.

The Department in a public notice stated that the central bank-licensed banks and financial institutions can join the bidding online, which started from 3:00 pm earlier today.

The central bank also mentioned that the interest rate will be determined through the bidding process.

The minimum amount for bidding has been set at Rs 100 million, while the maximum limit is (in multiplies of) Rs 50 million, up to the total issued amount.

Only banks and financial institutions classified as ‘A’, ‘B’, and ‘C’ category that have received permission from Nepal Rastra Bank can participate in the deposit collection bidding.