Rastra Bank to raise Rs 30 billion from market for one month

Nepal Rastra Bank will raise Rs 30 billion from the market to manage excess liquidity in the financial system.

The bank's Monetary Management Department has invited bids for the collection of a one-month deposit of Rs 30 billion. Under this, deposit collection instruments will be issued for 28 days.

Banks and financial institutions licensed by Rastra Bank can take part in the bidding for the deposit collection instruments. Rastra Bank has sought proposals from interested institutions for this purpose.

When liquidity in the banking system is high, Rastra Bank withdraws funds from the market through such instruments. Rastra Bank said this amount is being collected from the market for one month through the bidding process.