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Nepal Rastra Bank’s error in debenture application data reduced from Rs 1220 billion to Rs 120 billion

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. KATHMANDU: Nepal Rastra Bank (NRB) has made a mistake in the data of the debenture application on Tuesday. Nepal Rastra Bank (NRB) has opened the application for the issue of ‘Nepal Rastra Bank Debentures’ for the first time.

According to the data released by the Nepal Rastra Bank on Tuesday, the banks and financial institutions (BFIs) had applied for Rs 1,220.55 billion, which is 48.82 times more than the demand.TAG_OPEN_div_16 After the error in the data released by the Nepal Rastra Bank, the central bank on Wednesday corrected the data and made it public.

According to the data released by the Nepal Rastra Bank (NRB) on Wednesday, applications for the debenture amounted to Rs 1.20 billion.TAG_OPEN_div_14 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 (TAG_OPEN_div_12 NRB) has issued debentures worth Rs 25 billion with a 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 payment will be made on December 14, 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.

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