Nepal Rastra Bank to auction Reverse Repo worth Rs 5 arba today; Interested financial institutions can place bids till 3 PM.

Nepal Rastra Bank is auctioning Reverse Repo worth Rs 5 arba on Ashoj 11, 2075 i.e. today. The central bank is auctioning reverse repo to balance the excess investable funds in the banking sector.

Commercial Banks, Development Banks and Finance Companies can invest in the Reverse Repo. The interested banks and financial institutions can apply for the auction till 3 PM today.

The Reverse Repo is being issued for 7 days which will get matured on Ashoj 18.

The interest rate will be determined on the weighted average basis of the interest rates on the bids.

Rastra Bank has taken this decision to balance the investable funds in the banking sector which is reported to be more than Rs 50 arba.