Business

NRB to auction T-Bills worth Rs 26.10 billion

By HIMALAYAN NEWS SERVICE

Photo Courtesy: Nepal Rastra Bank/Facebook

KATHMANDU, AUGUST 6

The Nepal Rastra Bank (NRB) is set to issue Treasury Bills (T-Bills) worth over Rs 26.10 billion on Monday.

The central bank will issue Treasury Bills worth five billion rupees with a maturity period of 28 days, T-Bills worth Rs 12.10 billion with a maturity period of 91 days, T-Bills worth seven billion rupees with a maturity of 182 days and T-bills worth two billion rupees with a maturity period of 364 days, respectively.

According to the NRB, the 21-day Treasury Bills will mature on September 5, 2023, 91-day T-Bills on November 7, 2023, 182-day Treasury Bills on February 6, 2024, and 354-day T-Bills on August 6, 2024.

Earlier, the central bank had auctioned Rs 21.10 billion in Treasury on July 31.

The auction for the bonds will start from 3:00pm tomorrow, according to NRB.

The central bank will issue the T-Bills on Tuesday to the highest bidders among the A, B, and C class banks, other financial institutions, non-banks, and financial institutions participating in the bidding process.

The Treasury Bills are normally maturity promissory notes issued by a government as a primary instrument for regulating money supply and raising funds via open market operations.

Bidders are required to bid through online bidding system software (OBSS), while bidders who do not have an account at NRB should submit earnest money deposit vouchers to the Monetary Management Department (MMD) by 3:00pm on August 7.

The allocated amount will be settled through NRB's bank account.

A version of this article appears in the print on August 7, 2023, of The Himalayan Times.