KATHMANDU: Following excess liquidity in the banking system, Nepal Rastra Bank (NRB) will withdraw Rs 90 billion through a deposit collection auction today, Tuesday.

The auction will be conducted for a 12-day term. Although the central bank had conducted regular withdrawals on Sunday and Wednesday, this is the first operation after the Dashain holidays.

Banks and financial institutions have been called to participate in the online auction by 3 PM today.

Bidding will allow a minimum of Rs 10 million, divisible in multiples of Rs 5 million, up to the total auction amount.
Only ‘A’, ‘B’, and ‘C’ category banks and financial institutions can participate.

NRB stated that the auction can be conducted at single or multiple interest rates.