NRB Set to Auction Development Bonds 2085 Worth Rs 10 Billion:
Nepal Rastra Bank (NRB) is set to auction development bonds worth Rs 10 billion today (Tuesday). According to the central bank, 'Development Bond 2085 will be sold through the bidding process.
Bond interest rates will also be determined through bidding. The arrangement has been made for banks and financial institutions, non-bank financial institutions, insurance companies, organized institutions, and the public to purchase. It is possible to take or give a loan by pledging a bond.
The central bank has stated that the bond will be auctioned on Tuesday at 3 pm. The principal repayment of the bond will be made on 19th Falgun 2085 BS and the interest will be paid semi-annually and interest earned will be charged interest.
As per the details, Rs. 8.5 billion has been allocated to the competitors and Rs. 1.5 billion to the non-competitors.
Rs. 50,000 at the minimum, and Rs. 50,000 at the maximum without exceeding the limit of the total amount withdrawn, will be allowed to purchase at the prohibited number.
