Nepal Rastra Bank to deposit Rs 1.48 arba in fixed deposits of financial institutions; FD to mature on Poush 29, 2076

Nepal Rastra Bank will be depositing Rs 1.48 arba in the fixed deposits of various banks and financial institutions. The central bank will be depositing the amount from Magh 02, 2075 till Posh 29, 2076 i.e for a period of 364 days.

Interested financial institutions who fulfill the prerequisites set by the Rastra Bank can submit the application bidding their interest price till 3:00 PM of Poush 22, 2075.

Nepal Rastra Bank has planned to deposit Rs 1.1868 arba in commercial banks, Rs 22.25 crore in national level development banks and Rs 7.42 crore in national level finance companies.

Some of the criteria which have to be met by the financial institutions include

1. The BFIs should have completed 2 years of operation
2. Should have met the required paid-up capital
3. Non-Performing Loans should not be more than 5% of the total floated loans
4. Net liquid assets should be at least 20% of the domestic deposit