23rd November 2024, Kathmandu
Nepal’s Central Bank, Nepal Rastra Bank (NRB), has announced a significant investment of NPR 6.8 billion in fixed deposits with various commercial banks and financial institutions. This strategic move aims to bolster the financial sector and manage the central bank’s funds effectively.
NRB’s NPR 6.8 Billion Investment
Key Points of the Investment:
- Total Investment: NPR 6.85 billion
- Allocation:
- Commercial Banks (Class A): NPR 548 million
- National-Level Development Banks (Class B): NPR 102.75 million
- National-Level Finance Companies (Class C): NPR 34.25 million
- Investment Term: 366 days, starting from December 1, 2024, to November 30, 2025
Call for Interest Proposals:
NRB has invited interested banks and financial institutions to submit their interest rate proposals by November 25, 2024, at 7:00 PM. The central bank will carefully review these proposals and select the most competitive ones.
Strategic Significance:
This investment initiative underscores NRB’s commitment to maintaining financial stability and liquidity in Nepal’s banking system. By placing funds in fixed deposits, the central bank aims to:
- Support the Financial Sector: Inject liquidity into the banking system, enabling banks to meet their credit needs and support economic growth.
- Optimize Fund Management: Efficiently utilize its funds while earning a reasonable return on investment.
- Strengthen Financial Stability: Contribute to a robust and resilient financial system by supporting the growth and development of various financial institutions.
This strategic move by NRB is expected to have a positive impact on the overall financial landscape of Nepal, promoting economic growth and stability.
For more: NRB’s NPR 6.8 Billion Investment