The Nepal Rastra Bank has given the Bank of Ceylon the green light to sell its stock in the Nepal Bank of Ceylon (NBC). The Sri Lankan bank has been allowed to sell its 35 percent holding to nine of its promoter partners, who will reportedly buy at Rs 196 per unit. The 10 percent rule, which sets a ceiling on the amount of stock a single promoter can own, applies here too. The NBC's paid-up capital was Rs 350 million, and its authorised capital Rs 500 million. A recent Nepal Rastra Bank rule says this figure must be Rs 1 billion in seven years. The bank had planned to raise Rs 150 million from the market but has not yet made a public offer.