Kathmandu, January 30
Nepal Rastra Bank (NRB), the central monetary authority, is set to issue development bonds worth eight billion rupees.
Issuing a notice today, the central bank has announced it is going to auction development bonds on Tuesday with maturity period of five year and that the bidding will be open online at 2:00pm.
For the purchase of development bonds, any A, B and C class banks, other financial institutions, non-banking and financial institutions and any individual can participate as competitive or non-competitive bidders in the bidding process.
The licensed 'A', 'B' and 'C' category banks and financial institutions will be unable to participate as non-competitive bidders.
For competitor bidders, 85 per cent of amount or Rs 6.80 billion have allocated from issued bonds, whereas only 15 per cent or Rs 1.20 billion has been allotted for the non-competitive bidders.
The central bank will issue the development bonds to the highest bidders among the participants.
The interested companies and individuals can purchase a minimum of bonds worth Rs 50,000 while maximum bonds issued will be the total number of issued bond divided by 50,000.
A version of this article appears in the print on January 31, 2023, of The Himalayan Times.
