Nov Thu 2023 02:37:07
Kathmandu. After more liquidity in the banking system, banks have invested in the deposit collection equipment of Nepal Rastra Bank at 1 percent interest rate. After the inter-bank interest rate fell below 2 percent due to excess liquidity in the banking system, the National Bank of India introduced the deposit collection tool for the third time since November.
15 billion rupees deposit collection equipment was negotiated for 7 days, 40 billion 10 million rupees were submitted. Twelve organizations submitted 51 proposals. When the banks offered a maximum interest rate of 1.1613 percent, they dropped below the minimum of 1 percent. Banks are ready to deposit with Rashtra Bank at a minimum interest rate of 0.99 percent. Rastra Bank said that the average interest rate was maintained at 1.0498 percent on Thursday.
Earlier, on November 10, when a deposit collection device worth 10 billion was discussed, 39.6 billion was offered, and on November 6, when a deposit collection device worth 10 billion was discussed, an offer of 37 billion was received. The average interest rate was 1.1445 percent on December 10 and 1.9657 percent on December 6.
Nepal Rastra Bank said that in the monetary policy of the current financial year, it will provide permanent deposit collection facility at the lower limit deposit collection rate of the interest rate corridor. However, without the implementation of the said provision, when the deposit collection device was spoken, the banks were ready to deposit in the National Bank at 0.99 percent interest rate.
Among the various instruments used by Nepal Rastra Bank to calculate the excess liquidity of the banking sector for a certain period of time, deposit collection is also a tool. Under this, Nepal Rastra Bank collects deposits from banks and financial institutions after determining the interest rate on the basis of negotiation. From which the liquidity will be diluted. There is also a system where deposits can be collected at the deposit collection rate without speaking. It is also known as permanent deposit collection facility.