Kathmandu. Nepal Rastra Bank (NRB) has received more applications than the demand for the debentures brought by Nepal Rastra Bank (NRB). Nepal Rastra Bank (NRB) has issued debentures worth Rs 25 billion. The banks and financial institutions have applied for the debenture worth Rs 1,220.55 billion, which is 48.82 times more than the demand.

A total of 129 bids have been received from 32 banks and financial institutions, according to NRB. The average coupon rate of the issue is 2.64 percent.

Nepal Rastra Bank (NRB) has issued debentures worth Rs 25 billion with a maturity period of one year. The interest on the debentures will be paid semi-annually. The interest rate of the debentures will be determined through bidding. The minimum amount of the debentures can be applied for by a minimum of Rs 5 crore and a maximum of Rs 5 crore.

The principal will be paid on December 28, 2083. Commercial banks, development banks and finance companies can apply for the debentures. The banks and financial institutions investing in the debentures can use it as collateral with the Nepal Rastra Bank and other banks and financial institutions.