KATHMANDU: With excess liquidity in the banking system, Nepal Rastra Bank (NRB) has decided to withdraw Rs 50 billion today, Wednesday.

The central bank will do this through a 25-day deposit collection instrument via a competitive bidding process. The principal and interest on the withdrawn funds will be repaid on September 28.

NRB stated that in the bidding process, amounts can be divided into minimum Rs 100 million and maximum Rs 50 million, with any remainder included in the total call amount.

Only licensed banks and financial institutions categorized as Class ‘A’, ‘B’, and ‘C’ are eligible to participate in the bidding process.