NRB collecting deposit of Rs. 10 billion through auction

Kathmandu January 29- NRB has calls for collection of deposit worth of Rs. 10 billion through auction. The auction and issuance of deposit collection device will take place in 31 January 2016. Interested bidders can bid through online bidding system software and interest rate would be determined through bidding. The principal and interest payment date has been finalized on April 30, 2016 and pre-mature payment will not be entertained.

Only 'A', 'B' and 'C class Banks and Financial Institutions licensed by NRB can participate in this auction.

The minimum amount that can be auctioned is Rs. 50 million and the total amount only divisible by 50 million has been asked for auction. Distribution of the auction will be prioritized in accordance with the least interest rate that will be distributed respectively among the bidders.