NRB allows commercial banks to consider 80% of Local Levels’ Reserve Fund as deposits

KATHMANDU: The Nepal Rastra Bank (NRB) has allowed commercial banks to consider 80 percent of the reserve funds of local levels as deposits till the end of the current fiscal year.

Issuing a circular recently, the central bank has allowed commercial banks to mobilize 80 percent of the amount of local level reserve fund as savings but not to invest in trade and import. Earlier, commercial banks could consider up to 50 percent of the reserve fund as deposits. Commercial banks can invest the reserve fund in productive sector.

The NRB made such arrangements considering the current liquidity situation, as per an official of the central bank.

 

Fiscal Nepal |
Tuesday January 4, 2022, 02:55:47 PM |


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