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NRB To Invest Rs 2 Billion In BFIs' Fixed Deposits

Business

Sep 05, 2022

NRB To Invest Rs 2 Billion In BFIs' Fixed Deposits

Kathmandu, Nepal, September 6, 2022: The Nepal Rastra Bank (NRB), the central bank of Nepal, has expressed its interests to invest Rs 2 billion of the Retirement Fund in the fixed deposits of banks and financial institutions (BFIs).

The NRB has issued a notice asking for the BFIs to bid for the aforementioned amount. As per the notice, bid has to be registered until 7 September mid-night. Maturity date to keep the money in their fixed deposits is one year.

Commercial banks can apply for Rs 1.6 billion, development banks for Rs 300 million and national level finance companies for Rs 100 million, the NRB has stated.