Kathmandu, April 11:

Only seven commercial banks showed interest in purchasing the 364-day Treasury Bills issued by the government worth over Rs 1.96 billion, according to a press statement issued by the Nepal Rastra Bank (NRB).

The demand from the seven commercial banks for purchasing TBs is found to be less than the targeted amount of the government, says NRB. Commercial banks have demanded TBs worth only Rs 1.75 billion by April 11 from 32 tenders out of total TBs issued worth Rs 1.96 billion.

NRB has said that it would buy TBs worth over Rs 610 million from the secondary market. Similarly, only one commercial bank has applied to purchase 91-day TBs by submitting three tenders amounting to Rs 30 million out of a total demand of Rs 590 million asked by the government, says NRB.

As per the report, commercial banks are not showing interest in purchasing TBs issued by the government. NRB has decided to purchase a 91-day TB from the secondary market as there is very negligible response from commercial banks.

Similarly, for the 182-day TBs issued by the government worth Rs 300 million, no tender has been submitted by any commercial banks and the NRB has decided to purchase the same from the secondary market. In the coming days also, the government would issue 91-day and 364-day TBs worth Rs 660 million.