Kathmandu. Banks and financial institutions will now have to maintain a minimum of 90 percent of the mandatory cash reserves on a daily basis.
Nepal Rastra Bank (NRB) has issued a consolidated directive asking banks and financial institutions to keep a minimum of 90 per cent of their total deposit liability per day as mandatory cash reserves.
Earlier, there was a provision to keep a minimum of 70 percent of the amount in the Rastra Bank daily for mandatory cash reserves. Similarly, the mandatory deposit will be calculated on the basis of the weekly average deposit.
For the purpose of calculating the mandatory deposit, the total deposit liability should be divided by seven points on a weekly basis from Sunday to Saturday and the daily average should be determined.
Nepal Rastra Bank (NRB) has said that the daily average will be determined by dividing the total number of daily reserves from Sunday to Saturday on the 14th day.
In addition, the risk burden of share mortgage loans has to be kept at 100 percent. Earlier, the risk burden of mortgage loans above Rs 5 million was 125 percent. Nepal Rastra Bank (NRB) has reduced the risk burden of share mortgage loans through the third quarter review of the monetary policy.
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