NRB to invest Rs 1.2bn in fixed deposits with BFIs
KATHMANDU: Nepal Rastra Bank (NRB) is set to invest Rs 1.2 billion in fixed deposits with banks and financial institutions (BFIs).
The central bank has invited interested BFIs to submit applications by September 15 for investments from its gratuity and pension fund. Of the total, Rs 1.04 billion is earmarked for A-class commercial banks, Rs 195 million for B-class development banks and Rs 65 million for C-class financial institutions.
The NRB notice requires institutions to maintain the minimum total capital fund specified by the bank and stipulates that the non-performing loan ratio must not exceed 8% and the net non-performing loan ratio must not exceed 3%. Applicants must specify the amount sought and the proposed interest rate.
(With inputs from RSS)
