Commercial Banks Overlook Institutional Deposits; Securities Board Calls for Proposals Again

The Nepal Securities Board has issued a second notice to place the endowment fund amount in fixed deposits at commercial banks. Earlier, on January 2, the board had called for proposals to invest the fund, but no submissions were received. As a result, the board has now invited sealed proposals to be submitted within three days.

The board, operating under the Nepal Securities Board Investment Policy 2019, plans to deposit the funds in fixed deposits for six months. Interested commercial banks are required to submit proposals, including their six-month interest rates, along with the application.

Previously, the board had allowed five days for proposal submission. However, this time it has extended the deadline by an additional three days. The board has stated that it aims to ensure the safety and effectiveness of the investment through well-informed policy decisions.