Nepal Rastra Bank to Issue Rs 45 Billion Deposit Collection Instrument

Nepal Rastra Bank’s Monetary Management Department has called for bidding and issuance of a deposit collection instrument worth Rs 45 billion. The department issued a public notice stating that eligible institutions can participate in the bidding process through online bidding from 3:00 pm today. According to the central bank, the interest rate of the instrument will be determined through the bidding process.

Institutions interested in participating in the deposit collection instrument can submit bids starting from a minimum of Rs 100 million. Bids can be submitted up to the total amount called by Nepal Rastra Bank, in amounts divisible by Rs 50 million. Only class “A,” “B” and “C” banks and financial institutions licensed by Nepal Rastra Bank will be allowed to participate in the bidding process.