NRB to issue development bond worth Rs 20 billion

Published On: November 2, 2020 08:45 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 2: Nepal Rastra Bank (NRB) is issuing ‘Development Bond 2087 Gha’ worth Rs 20 billion on November 4. 

The NRB is working to issue the bond through a competitive process on behalf of the Government of Nepal. Issuing a press statement on Monday, the central bank said that the interest rate would also be determined through a competitive bidding process. 

Banks and financial institutions, insurance companies, organized institutions and Nepali citizens can apply for the development bond. Based on the development bond, its holders can receive and grant loan by keeping it as collateral and the interest imbursement would be made bi-annually. 

The interested firms and individuals can buy a minimum Rs 50,000 while maximum bonds should be up to the total number of the bonds, which is divisible by 50,000.

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