NRB to promise Development Bond worth 10 billion on Aug 27

KATHMANDU, Aug 25: The Nepal Rastra Bank (NRB) will promise a Development Bond worth 10 billion rupees on August 27. The NRB is going to promise the 6-year-long Development Bond 2086 ‘Ja’ which the bank will issue from August 28.

The Central Bank has notified that the Development Bond will be promised at 3 pm on August 27. Interested banks and financial institutions, non-bank financial institutions, insurance companies, organized organizations and Nepali citizens can apply for the bond.

Out of the total 10 billion rupees, 85 percent i.e. 8 billion 500 million rupees will be sold competitively and 15 percent, which is 1 billion 500 million rupees, will be sold through the non-competitive system.

The buyers of the Development bond will get an interest every 6 months.