December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.

Banks and financial institutions (BFIs) interested in depositing their money at the central bank were instructed to present their proposals for fixing the interest rate through online medium not later than 2 pm on Wednesday (December 2). NRB said that first preference will be given to the proposals with lower interest rates.

The central bank will make payment of the interest as well as deposited amount on December 30 when the 28-day maturity period ends.