RBB Seeks Permission From SEBON to Issue RBB Mutual Fund-II Worth Rs. 1.20 Arba

Under RBB Mutual Fund, a new scheme with the name RBB Mutual Fund II is scheduled to be introduced. For this, the scheme manager, RBB Merchant Banking Limited, has sought the Securities Board of Nepal (SEBON) for authorization to issue securities.

Subject to SEBON's permission, RBB Merchant will issue a total of 12 crores units of closed mutual fund scheme to the general public at a minimal price of Rs. 10 each. 

Last year, Rastriya Banijya Bank (RBB) had issued the RBB Mutual Fund-1. RBB Mutual Fund-1 is a closed-end fund and has a maturity period of seven years. With the introduction of RBB Mutual Fund - II, this will be the second mutual fund scheme of Rastriya Banijya Bank.