Nepal Rastra Bank to Invest NPR 870 Million in Banks

Nepal Rastra Bank (NRB) has announced its plan to invest NPR 870 million as fixed deposits in various banks. In a public notice, the central bank revealed its intention to deposit funds from the subsidy and pension fund into fixed deposits across Class A, B, and C banks.

Allocation of Fixed Deposits:

• Class A Commercial Banks: NPR 696 million will be deposited as fixed deposits.

• Class B National-level Development Banks: NPR 130.5 million will be deposited.

• Class C National-level Finance Companies: NPR 43.5 million will be deposited.

Interest Rate Proposal:

Banks interested in receiving these fixed deposits must submit their interest rate proposals by October 4, 2024 (18th Ashoj).

Fixed Deposit Term:

The fixed deposit term will span 181 days, starting from October 21, 2024 (4th Kartik 2081) to April 18, 2025 (6th Baisakh 2082).

This decision aims to increase liquidity in banks and provide opportunities for further investment in fixed deposits.