Nepal Rastra Bank has announced plans to place Rs 1.2 billion from the Employees’ Security Fund into banks and financial institutions. Interested institutions are required to apply by December 22, indicating the amount they seek and the interest rate offered on fixed deposits. Of the total amount, Rs 960 million will be deposited with Class A commercial banks, Rs 180 million with Class B development banks, and Rs 60 million with Class C finance companies. Eligible institutions must have been in operation for at least two years, meet minimum capital adequacy standards, maintain a credit-to-deposit ratio within eight percent, and keep net non-performing loans below three percent.
