As per NRB new circular issued as on 24th may 2019...an "A" class bank can't accept deposit on call account more than 10% of their total deposit liability, like wise B class bank can accept deposit from call account only upto 15% of their total deposit liability. NRB relaxation up to ashad 2077 BS, to maintain the above ratio.
Before this amendment Banks were allowed to accept deposit from call account up to 25% to their total deposit liability.
What is Call Deposit Account ?
Call Account is a flexible interest bearing saving account that requires you to maintain a certain amount of deposit to earn you a pre-negotiated interest. Call Account also gives you the flexibility for unlimited withdraw. Furthermore , Current Account can be linked to call Account so that balance exceeding the agreed amount in current account can be transferred automatically to call account on a daily basis and earn you interest.
Why this cap on Call Deposit?
Through this circular NRB is trying to put cap on call deposit but why our central bank is doing so, doubt may arise in your mind?
Through this circular NRB concern seems to be focusing on liquidity issues in BFI, what is your understanding on today's issued circular?
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