First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank has so far raised Rs 113 billion from treasury bills, citizens bonds, foreign employment bonds and development bonds.
In the third and final quadrimester, the government is yet to collet half of its target of internal loan.
The government had set a target to collect internal loan of Rs 225 billion in the current fiscal year. By the end of the second quadrimester of the current fiscal year, the government has been able to raise 50.22 percent of internal loan out of its total target.
The central bank has started raising internal loan for the government aggressively in the third quadrimester. With just two months left in the current fiscal year, the central bank is yet to collect Rs 112 billion of its target. In order to meet its target, NRB has been issuing bonds almost on a daily basis.
In this context, the central bank has issued foreign employment bond worth Rs 500 million. NRB will float the bonds between May 27 to June 17. The bonds with maturity period of five years will be issued on June 22. The rate of interest of the bond has been fixed at 10 percent and the interest will be paid every six months.
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