Review Nepal News

NRB to Issue Development Bond Worth of Rs 20 Billion Tomorrow

www.reviewnepal.com
  Kathmandu, Nepal      November 03 2020

 

Kathmandu, Nepal, November 3, 2020: Nepal Rastra Bank (NRB) is going to issue the ‘Development Bond 2087 Gha’ worth Rs 20 billion on Wednesday (November 4). The central bank of the country is going to issue the bond through a competitive process on behalf of the Government of Nepal.

According to the NRB, Banks, financial institutions, insurance companies, any other organized institutions and Nepali citizens can apply for the development bond. The interest rate of the bond would be determined through competitive bidding process, the NRB has stated in the press release.

Likewise, NRB has directed the Banks and Financial Institutions (BFIs) not to blacklist the debtors and auction their collateral considering to the effects of the coronavirus (COVID-19) pandemic.

Governor Maha Prasad Adhikari made the urge to the BFIs on Sunday during an interaction on the implementation of the Monetary Policy 2020/21 and current economic situation not to blacklist the debtors by selling collaterals of the debtors.