Nepal, May 7 -- Nepal Rastra Bank (NRB) is set to withdraw Rs 35 billion from the market as part of its liquidity management efforts. The NRB is going to raise deposits of Rs 35 billion through a bidding process for 21 days.

The central bank has invited proposals from banks and financial institutions. The bidding will be conducted online at 3 pm on Wednesday.

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The principal and interest amount will be repaid on May 28. Previously, the NRB had mopped Rs 134 billion through deposit collection instruments, which is yet to mature.

Published by HT Digital Content Services with permission from Republica....