November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). The central bank has decided to keep the amount from gratuity and pension funds as fixed deposits from December 16, 2000 till December 15, 2021.

NRB will be keeping Rs 3.2 billion in commercial banks. Similarly, Rs 600 million will be kept as fixed deposits in development banks and Rs 200 million in finance companies.

BFIs interested in depositing the  central bank’s money have been informed to submit proposals within 3 pm on November 29 along with the amount they want to keep as well as the interest rate.