The central bank is investing Rs 3.45 billion accumulated in Pension and Gratuity Fund and Rs 1.72 billion accumulated in other Funds.
Out of Rs 3.45 billion of Pension and Gratuity Fund, NRB will invest Rs 1.72 billion as FD in 'A' listed commercial bank. Similarly, the bank is investing Rs 517.5 million as FD in 'B' listed and Rs 276 million as FD in 'C' listed BFIs.
Similarly, out of Rs 1.93 billion of Other Funds, NRB will invest Rs 1.54 billion as FD in 'A' listed commercial bank. Similarly, the bank is investing Rs 289.8 million as FD in 'B' listed and Rs 96.6 million as FD in 'C' listed BFIs.
The bank will invest the amount for the period of one year starting Baishakh.
The NRB has issued a notice in which the interested BFIs are asked to submit a duly sealed price quotation form with the specified amount the BFIs willing to take as FD by March 29.
The BFIs willing to take the FD must have come into operation for two years and should have maintained the required minimum capital fund.
The BFIs must fulfill the categories including the non-performing loan should be less than 5 percent of total loan extension, net liquid assets should meet 20 percent or more of the total domestic deposits will be eligible.
According to NRB, the BFIs must have maintained the loan, domestic deposit and primary capital proportion as per the timely set standard by the central bank.
Similarly, the BFIs earning operating profit in last FY and having real estate investment not exceeding NRB set limit can also participate in the FD plan.
However, BFIs led by Directors, CEO or Executive Directors against whom NRB has taken action will not get an opportunity to participate.
Similarly, BFIs completing a minimum of 6 months from the Prompt Corrective Action taken by NRB can also apply for the deposit. NRB has also set a condition where the BFIs must have issued the shares allocated to the general public.
Likewise, the BFIs which are not announced problematic or completed 6 months since announced problem-free are also allowed to apply for the fixed deposits.
