Nepal Rastra Bank is going to invest Rs. 280 million

Nepal Rastra Bank is going to invest Rs. 280 million in various funds in term deposits of commercial banks, development banks and finance companies for a period of one year.

The central 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.

The bank is going to keep the said term deposit for the period from 2nd January, 2078 to 1st January, 2079. Banks and financial institutions wishing to take NRB deposits will have to submit bids by December 3 stating the amount they want to take and the interest rate to be paid on that amount.