Central Bank to Issue Development Bond Today

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Central Bank to Issue Development Bond Today

July 6: Nepal Rastra Bank is all set to auction development bonds worth Rs 15 billion today (July 6). The central bank is issuing the bonds to manage internal loan for the government as per its schedule to collect such loans for the fourth quarter of the current fiscal  year.

The government has already collected internal loans of Rs 115 billion as of second quarter of the current fiscal year.

The National Loan Management Department of Nepal Rastra Bank on behalf of the Government of Nepal has issued a five-year Development Bond 2083 ‘E’. Interested banks and financial institutions, non-banking institutions, insurance companies as well as eligible Nepali citizens can apply for the bond within 3 pm today. The interest rate of the bond will be fixed through bidding process.

The development bond will be issued on July 7.

Prior to this, the central bank has issued development bonds of Rs 10 billion on June 22 with a maturity period of six years.

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