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9% Citizens Saving Bond 2083 of Nepal Rastra Bank (NRB)

Nepal Rastra Bank (NRB) Limited has issued the ‘9% Citizens Saving Bond 2083’. The bond opened on 11th Jestha and will close on 1st Ashar, 2078. Nepalese citizens are eligible to apply in the bond. The 9% Citizens Saving Bond 2083 will pay 9% annual interest to bondholders and it is payable semi-annually. The bond is worth Rs. 2 Arba. The bond has a maturity period and will hence mature in the year 2083. The 9% Citizens Saving Bond 2083 will be refunded completely on Ashad 06, 2083. As such, Ashad 06, 2078 will be considered the issue date.

The investor can apply minimum amount Rs. 10,000. While investors can apply for the entirety of the issue, any amount in between should be divisible by 10,000. The bond can be kept as collateral against loans on banks and financial institutions besides the central bank itself.

9% Citizens Saving Bond 2083

Nepal Rastra Bank (NRB), the Central Bank of Nepal, was established in 1956 under the Nepal Rastra Bank Act, 1955, to discharge the central banking responsibilities including guiding the development of the embryonic domestic financial sector. Since establishment, there has been significant growth in both the number and the activities of the domestic financial institutions in the country.

To reflect this dynamic environment, the functions and objectives of the Bank have been re-casted by the new Nepal Rastra Bank Act, 2058 (2002), which lays down the objectives of the Bank as:

To formulate necessary monetary and foreign exchange policies in order to maintain the stability of price and balance of payment for economic stability and sustainable development of economy, and manage it;To increase the access of the financial service and increase the public confidence towards the banking and financial system by maintaining stability of the banking and financial sectors,To develop a secure, healthy and efficient system of payment;

For the achievement of the above objectives in the present dynamic environment, NRB is pursuing sustained progress and continued reform of the financial sector is of utmost importance. In this regard, NRB is pursuing various policies, strategies and actions, all of which are conveyed in the Banks annual monetary policy.

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