KATHMANDU: The Nepal Rastra Bank (NRB) today issued bonds worth Rs 15 billion to absorb excess liquidity in the banking system.

The NRB issued the ‘NRB Bonds 2084 Chha‘, with Class ‘A’, ‘B’, and ‘C’ banks and financial institutions eligible to participate. Online bidding concluded at 3 PM on Monday, while the interest rate will be determined through the bidding process.

The bond has a maturity period of one year, with the principal to be repaid on July 13, 2027. Interest will be paid semiannually.

According to the NRB, bids could be submitted for a minimum of Rs 50 million and up to the total issue amount, provided the bid amount was divisible by Rs 50 million.