Nepal Rastra Bank (NRB) has decided to make a term deposit of Rs 3.5 billion in the subsidy and pension fund in banks and financial institutions. NRB has invited proposals from banks and financial institutions for one-year term deposits.
Out of the total term deposit, Rs 2.44 billion has been allocated to commercial banks, Rs 457.5 million to national level development banks and Rs 152.5 million to finance companies.
Banks and financial institutions wishing to take deposits should submit interest rates by next Wednesday, according to a statement issued by NRB.
In order to get the deposit, the bank must have completed two years of operation, the non-performing loans should be less than 5 percent of the total loan, it should be in profit, and real estate loans should be within the limit.
