KATHMANDU: Nepal Rastra Bank (NRB) has invited bidding for the collection of deposits worth Rs 100 billion.

Issuing a notice today, the central bank announced the opening of the bidding process for deposit collection.

According to the notice, only ‘A’, ‘B’, and ‘C’ class banking and financial institutions licensed by Nepal Rastra Bank are eligible to participate in the bidding.

While bidding, institutions must specify the amount they wish to deposit and their proposed interest rate (up to four decimal places).

Bidders can tender for a minimum of Rs 100 million and up to the total invited amount, provided the amount is exactly divisible by Rs 50 million.