NRB to invest in 286 million term deposits

Nepal Rastra Bank Limited is going to invest Rs. 286 million in term deposits.

The bank has informed in a notification that the amount in various funds of the bank will be invested in term deposits of banks and financial institutions for 365 days (January 2, 2078 BS to January 1, 2079 BS).

The bank is going to invest Rs 224.6 million in Class A commercial banks, Rs 42 million in Class B development banks and Rs 14 million in Class C finance companies for a total of Rs 286 million.

Banks and financial institutions will have to submit the amount they want to take and the proposed interest rate for the said amount to the NRB by 2 pm on Sunday the 18th.