Nepal Rastra Bank (NRB) has announced plans to invest Rs 376 crore from the Provident and Pension Funds in banks and financial institutions.
The central bank, through a public notice, has requested interested institutions to submit applications by 7:00 PM on Mangsir 8, specifying the amount they wish to receive and the interest rate they propose.
According to the notice, the investment will be for one year. The distribution of funds is as follows:
- Class ‘A’ commercial banks: Rs 380 million
- Class ‘B’ development banks: Rs 564 million
- Class ‘C’ finance companies: Rs 188 million
Eligible institutions must have been operational for at least two years, maintained the minimum total capital as prescribed by the central bank, and ensured that non-performing loans (NPLs) do not exceed 8% of total loans and net NPL ratio does not exceed 3%.
