With this, the NRB has so far withdrawn Rs 175 billion from the market through 8 bonds.
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Nepal Rastra Bank is going to withdraw 25 billion rupees from the market through bonds today. The amount is going to be collected through 'Nepal Rastra Bank Bond-I'.
For this, the National Bank has issued a notice. According to the notice, banks and financial institutions had asked for bidding by 2 pm today.
With this, the National Bank has so far withdrawn Rs 175 billion from the market through 8 bonds. After collecting an additional Rs 25 billion today, the total amount collected through bonds will reach Rs 200 billion. The bond issued today is the ninth.
Earlier, the National Bank has issued bonds worth Rs 25/25 billion five times, Rs 20 billion once and Rs 10 billion once. Since there is no possibility of immediate liquidity reduction in the market, the National Bank has stated that it is withdrawing money for a long period (one year). At this stage, a source in the National Bank has said that it is preparing to withdraw Rs 200 billion from the market through bonds.
The interest rate of the bond will be determined through bidding and interest will be paid every 6 months. The principal of the bond will be paid after one year. Only banks and financial institutions (counterparties) of category 'A', 'B' and 'C' licensed by Nepal Rastra Bank will be allowed to purchase the bond.
Investors will be able to bid on the bond with a minimum of Rs 50 million and a maximum of Rs 50 million, leaving the remainder. This bond can also be used to take loans from banks and other banks and financial institutions by pledging it as collateral.
