Nepal Rastra Bank disbursing Rs 1.54 arba in Fixed deposits; big opportunity for A, B and C class financial institutions

Nepal Rastra Bank has announced that it will be investing Rs 1 arba 54 crore and 15 lakh for 366 days (one year) as fixed deposit. So the BFIs of class ‘A’, ‘B’ and ‘C’ are requested to bid if they are interested within Bhadra 19, 3:00 PM of 2075 by specifying the interest rates. The total amount has been divided in the following manner:

Rs 1 arba 23 crore 33 lakh for commercial banks

Rs 23 crore 11 lakh for national level development banks

Rs 7 crore 71 lakh for national level finance companies

In addition to the given conditions, NRB has also specified following criteria for the applying BFIs:

The BFI should’ve have completed two years of operation

The BFI must have fulfilled the minimum required paid-up capital

The BFI must have specified reserves

The Non-performing loan (NPL) should be less than 5% of the total loans

The real-estate loan shouldn’t cross the specified limit

The net liquid assets should be at least or more than 20%  of the domestic deposits

The BFI should be involved in any litigatory matters and even if it had been then it should’ve crossed at least 6 months after the closing of case

If the BFI was deemed problematic, then it should cross 6 months after it was released from the problematic situation