NRB to Invest Rs 1.78 Billion in Fixed Deposit

Sep 08, 2023 12:27 PM Merolagani

Nepal Rastra Bank (NRB) is investing Rs 1.78 billion in ‘A' listed commercial banks, 'B' listed national level development banks and 'C' listed national-level finance companies for 366 days.

The central bank is investing Rs 1.42 billion as FD in 'A' listed commercial bank and Rs 267 million as FD in 'B' listed BFIs from September 19, 2023 to September 18, 2024.

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 September 10.

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.

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