NRB to invest Rs 240m in FDs

KATHMANDU: The Nepal Rastra Bank (NRB) has announced plans to invest Rs 240 million from its employees provident fund with a maturity period of 366 days from February 16, 2023 in fixed deposits of banks and financial institutions (BFI).

The central bank will invest Rs 192 million in class A commercial banks, Rs 36 million in class B development banks, and Rs 12 million in class C financial institutions.

Interested BFIs have to disclose the amount they want to receive alongside the proposed interest rate for that amount and submit it to the NRB between February 7 and 9, as per the notice released by the central bank.

A version of this article appears in the print on February 8, 2023, of The Himalayan Times.