Central Bank to promise development bond of 9 billion 640 million today

KATHMANDU, Sep 19: The Nepal Rastra Bank is going to promise a development bond of 9 Billion 640 million rupees on Tuesday. The Bank is going to promise a 6-year “Development Bond 2068 ‘Tha’” to be issued from September 21.

Interested Banks and Financial institutions, non-bank financial institutions, Insurance companies, organizations as well as Nepali citizens can apply for the Bond. The application, however, must be submitted by 3 pm today.

According to the notice, 85 percent of the total amount, which is, 8 billion 194 million rupees, will be divided as per the mutual competitive system, whereas the remaining 15 percent i.e. 1 billion 446 million rupees will be distributed without any competition.

According to the bank, the applicants can apply up to a minimum of 50,000 rupees and a maximum of the amount that leaves no balance when divided by 50,000 without increasing the limit of the total issued amount.

The bank has informed that the interest of the development bond will be paid semi-annually i.e. every 6 months.