Ghimire is associated with Republica, English National Daily, since November 2013. He reports and writes on banking, financial, cooperatives, labor, foreign employment and Mount Everest expedition issues. Twitter:@sagarghi firstname.lastname@example.org
KATHMANDU, July 28: While the government has already set up an economic rehabilitation fund to provide interest subsidy and cheaper credit to businesses and industries battered by the recent Tarai turmoil and last year's earthquakes, there has not been a single demand from private sector for such facility.
KATHMANDU, July 19: The central bank's announcement to set countercyclical buffer requirement for commercial banks, as part of implementing the Basel III standard, at a maximum of 2.5 percent has left the bankers worried.
KATHMANDU, July 14 In a bid to tighten the flow of finance from the banking sector to the stock market, Nepal Rastra Bank (NRB) has revised the policy to float loans of banks and financial institutions (BFIs) against the shares pledge. Issuing the monetary policy for the fiscal year 2016/17 today, NRB Governor Chiranjibi Nepal announced the revision on the valuation of the shares which banks accept as collateral to float their loans.
KATHMANDU, July 8: Growing concentration of branch offices of bank and financial institutions (BFIs) in urban and semi-urban areas is making the government's objective of financial inclusiveness and access to finance for all unachievable.
KATHMANDU, July 6: The Finance Committee of the parliament has endorsed the bill to amend Nepal Rastra Bank (NRB) Act, 2002, restricting NRB deputy governors and executive directors from working in any bank and financial institutions (BFIs) after leaving the central bank.
KATHMANDU, July 5: The controversy over an Indian couple allegedly doctoring photos to get a certificate for successfully scaling Mt Everest has exposed real flaws in the process of issuing such certificates to climbers.
SINDHULI, July 2: Although Rama Lama of Dobhan in Kamalamai Municipality at Sindhuli has annual income of less than Rs 20,000, his name has not been included in list of people living under poverty line. Similar is the situation of Kancha Tamang, another local. Both of them have to struggle to feed their family.
KATHMANDU, June 29: Though the devastating earthquakes last year damaged nearly 800,000 houses, only 18 individuals have taken advantage of a subsidized loan scheme under which only 2 percent interest is charged.
KATHMANDU, June 26: A group of depositors, who have lost their money in the troubled Oriental Cooperative Ltd, is now lobbying actively to allow Oriental and other firms owned by its disgraced promoter Sudheer Basnet to resume operation.
KATHMANDU, June 21: Following widespread criticisms of some of the provisions in a bill to amendment the Bank and Financial Institution Act (BAFIA), a full house meeting of the parliament on Tuesday sent the bill back to the parliament’s Finance Committee for further discussion and revision.
BHAIRAHAWA, June 20: The government’s apathy toward arranging construction material for the Gautam Buddha International Airport (GBIA) is likely to bring construction work on the national pride project to a complete halt.
KATHMANDU, June 13: A bill at the parliament to amend the Banks and Financial Institutions Act (BAFIA) could pave the way for existing foreign investors who are non-banking and non-financial institutions to retain their stakes in the bank and financial institutions (BFIs) in Nepal.
Difficulty for operation of remittance companies there blamed
KATHMANDU, June 11: With remittance companies finding it difficult to expand their operation, Nepali living in the countries like Hong Kong, South Korea, Australia and Israel are using Hundi system to send their hard-earned money back home.
According to stakeholders, the difficult process for remittance companies to expand presence in these countries where a large number of Nepali are currently living and working to start their operation is helping to flourish informal remitting system like Hundi.
Lack of domestic companies in the destination countries, particularly South Korea and Israel, leaves Nepalis there with no option but to use Hundi system.