Kathmandu: Nepal Rastra Bank (NRB) is set to sell Rs 10 billion worth of development bonds on Thursday. The central bank is going to issue this bond on May 20. The bidding will be held till 3 pm on May 20. Development Bond 2081 Named ‘E’, the bond has a maturity of 2 years.
Accordingly, this bond, which is scheduled to be issued on June 20, 2079, will mature on June 20, 2081. Bonds can be purchased by ordinary citizens, banks and financial institutions, non-bank financial institutions, insurance companies and organized institutions.
It will also be possible to take loans from banks and finance companies by pledging bonds. Its interest rate will be paid semi-annually. The central bank has stated that the interest rate will be determined through bidding and interest will be charged on the interest earned. The bonds are being sold within a competitive and non-competitive group.
Competitive bidders have been allotted 85% of the issued amount i.e. Rs. 8.5 billion and non-competitive bidders have been allotted 15% of the issued amount i.e. Rs. 1.5 billion. Bonds can also be traded in the secondary market through the Nepal Stock Exchange.
NRB is collecting a little more than Rs 100 billion in internal loans this June and July. Similarly, NRB has started selling development bonds worth Rs 10 billion since Thursday. You can apply for a bond online. It is mentioned in the notice that the debentures should be Rs. 50,000 in the minimum and Rs.