The central bank that issued a notice to this connection on Monday has announced that the NSC 2016 will have a yield of 9 percent per annum, and interest will be paid on half-yearly basis. [break]
Of the total issue, NRB has said Rs 450 million will be issued to general public, while remaining Rs 1.05 billion will be issued to institutions, excluding banks and financial institutions (FBIs) licensed by the central bank.
General public and institutions willing to park their money on this investment avenue can submit their applications from April 4-9. The central bank has appointed 71 banks and financial institutions (BFIs) as market maker, from where interested investors can buy the certificates.
"The market makers have been appointed in such a way that people living not just in the Kathmandu Valley, but any part of the country get fair opportunity to subscribe the NSC," said an NRB official.
In case the quota allocated for general public remained undersubscribed, institutions (other than BFIs) can apply for it on April 10 as well. The issue will be held on April 11.
NRB has clarified that the investors of NSC can receive interest return from any BFIs and they can also acquire loans against it, pledging it as collateral. In case of need, the investors can instantly sell the NSC 2016 through those market markers.
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