Nepal Telecom seeks quotation from commercial banks to deposit Rs 5 arba

ShareSansar, October 14:

Nepal Telecom has sought quotation from interested commercial banks for its plan to invest Rs 5 arba in fixed deposit account for a year.

Issuing a notice today, the state-own telecom giant, which has the highest market capitalization in Nepse, has asked the interested class ‘A’ banks to apply within seven days  furnishing details such as their capital adequacy ratio, non-performing loan percentage, credit capital deposit ratio, SLR and NLR.

NTC has further stated that this offer remains valid only till November 10, and that the minimum deposit amount should not be less than Rs 25 crore.

NTC has further clarified that Rs 5 arba it wants to deposit in FD account is its “investable amount”.