My Republica

Sagar Ghimire

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

No takers for interest subsidy, cheaper credit facility

Published On: July 28, 2016 01:40 AM NPT By: Sagar Ghimire

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.

Brokerage fee on share transactions down by nearly half

Published On: July 21, 2016 03:10 AM NPT By: Sagar Ghimire

KATHMANDU, July 21: The government has reduced brokerage commission for trading of share and securities in the stock market.

Bankers fear 2.5% countercyclical buffer will hit lending capacity

Published On: July 19, 2016 01:30 AM NPT By: Sagar Ghimire

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.

Monetary Policy: NRB tightens flow of funds to stock market

Published On: July 14, 2016 01:00 PM NPT By: Sagar Ghimire

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.

Why NRB's inflation projections always fall flat

Published On: July 12, 2016 02:30 AM NPT By: Sagar Ghimire

KATHMANDU, July 12: One of the primary objectives of Nepal Rastra Bank (NRB), the central bank of the country, is to maintain price stability.

Third party premium, minimum coverage raised

Published On: July 9, 2016 02:40 AM NPT By: Sagar Ghimire

KATHMANDU, July 9: The Beema Samiti has introduced a new motor vehicle insurance tariff policy, increasing the premium for third party motor insurance policy premiums as well as the minimum coverage.

Urban-centric BFIs making financial inclusion elusive

Published On: July 8, 2016 01:50 AM NPT By: Sagar Ghimire

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.

Finance Committee approves Nepal Rastra Bank bill

Published On: July 6, 2016 03:10 AM NPT By: Sagar Ghimire

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.

Indian couple controversy exposes flaws in Everest climb certification

Published On: July 5, 2016 03:10 AM NPT By: Sagar Ghimire

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.

Many poor families fail to get listed in poverty list of govt

Published On: July 2, 2016 03:54 PM NPT By: Sagar Ghimire

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.

Nepal slips 19 places in logistic performance index

Published On: June 30, 2016 10:07 AM NPT By: Sagar Ghimire

KATHMANDU, June 29: Nepal has slipped 19 places to 124th out of 160 countries in the Logistic Performance Index (LPI) of 2016 published by the World Bank.

Few takers for subsidized quake loans to rebuild homes

Published On: June 29, 2016 04:30 AM NPT By: Sagar Ghimire

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.

Provision to license micro insurance firms proposed

Published On: June 28, 2016 12:00 PM NPT By: Sagar Ghimire

KATHMANDU, June 28: The government is introducing a provision to license micro insurance companies in a new law that it is drafting to replace the existing Insurance Act, 1992.

Some Oriental Cooperative victims for allowing Basnet to reopen his offices

Published On: June 27, 2016 01:01 PM NPT By: Sagar Ghimire

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.

Govt to meet borrowing target despite poor spending

Published On: June 23, 2016 11:09 AM NPT By: Sagar Ghimire

KATHMANDU, June 22: Despite its poor spending capacity, the government will raise domestic debt as per the target set in Fiscal Year 2015/16.

BAFIA amendment bill back at Finance Committee for review

Published On: June 22, 2016 10:28 AM NPT By: Sagar Ghimire

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.

Lumbini to get clean-energy public transport

Published On: June 21, 2016 09:57 AM NPT By: Sagar Ghimire

BHAIRAHAWA, June 20: The government says it is planning to introduce electricity-based public transport services for tourists and local residents in the Lumbini area.

Construction material shortage to stop Gautam Buddha Int’l Airport upgrade

Published On: June 20, 2016 09:10 AM NPT By: Sagar Ghimire

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.

BAFIA amendment to allow foreign promoters of Nabil Bank, NMB Bank to retain stakes

Published On: June 14, 2016 03:40 PM NPT By: Sagar Ghimire

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.

Nepalis in South Korea, Israel still remitting money thru Hundi

Published On: June 10, 2016 09:47 PM NPT By: Sagar Ghimire

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.