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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
sagar.use@gmail.com
Nepse in free fall as market observes excessive selling pressure
Published On: November 20, 2016 02:51 PM NPT By: Sagar Ghimire
UPDATE: The Nepse benchmark index plunged 58.46 points, or 3.53 percent, to close at 1,599.62 points. The market remained volatile thorough out the trading day as panicked investors, with no apparent reasons, scrambled to offload their shares.
Proposal tabled at Cabinet to scrap KTM-Terai Fast Track deal with Indian consortium
Published On: November 20, 2016 12:19 PM NPT By: Sagar Ghimire
KATHMANDU, Nov 20: The Ministry of Physical Infrastructure and Transport has forwarded a proposal to the Cabinet to scrap the agreement earlier reached with Indian consortium IL &FS and the Detailed Project Report (DPR) it prepared for the development of the Kathmandu-Terai Fast Track.
Uncertainty over fate of demonetized Indian notes fuels illegal exchange
Published On: November 19, 2016 12:30 AM NPT By: Sagar Ghimire
KATHMANDU, Nov 19: When India Prime Minister Narendra Modi withdrew the legal tender of Indian 500 and 1,000 rupee banknotes on November 8, it was meant to curb 'black money' and corruption, but the move itself has ironically created a new black market -- illegal exchange of those notes held in Nepal.
NRB may seek proof of earning for exchange
Published On: November 12, 2016 12:00 AM NPT By: Sagar Ghimire
KATHMANDU, Nov 12: Nepal Rastra Bank (NRB) officials have said that they may ask people having 1,000 and 500 Indian rupee bills to furnish proof of the exchange that they had if it decides to provide exchange facility for people holding Indian currency legally.
NRB making efforts to return demonetized Indian banknotes
Published On: November 10, 2016 12:25 AM NPT By: Sagar Ghimire
KATHMANDU, Nov 9: Nepal Rastra Bank (NRB) has said that it was in touch with the Reserve Bank of India (RBI) for management of 1,000 and 500 Indian rupee bills in circulation in Nepal.
Sebon introducing ASBA from mid-January
Published On: November 9, 2016 12:50 AM NPT By: Sagar Ghimire
KATHMANDU, Nov 9: Securities Board of Nepal (Sebon) is implementing Applications Supported by Blocked Amount (ASBA) system on a voluntary basis from mid-January next year i.e. Magh 1.
Nepal passes 16 of 20 indicators of US MCC Scorecard 2017
Published On: November 5, 2016 01:20 AM NPT By: Sagar Ghimire
KATHMANDU, Nov 5: Nepal has met the requirements for 16 indicators out of 20 in the scorecard of the US Millennium Challenge Corporation (MCC) for fiscal year 2017, bolstering its prospect to be reselected for the funding of a compact program.
Worried of fund crunch, MFIs seek permission to mobilize deposits
Published On: October 24, 2016 02:40 AM NPT By: Sagar Ghimire
KATHMANDU, Oct 24: Microfinance institutions (MFIs) have sought permission to mobilize deposit from public after their traditional source of fund is likely to dry up following the new requirement for commercial banks to extend 2 percent of their total loans to deprived sector.
Nepali Americans celebrate Dashain
Published On: October 12, 2016 11:28 AM NPT By: Sagar Ghimire
NEW YORK, Oct 12: Nepali Americans have also celebrated Bada Dashain by putting tika and jamara on Dashami. Even being seven seas apart, the Internet has played a huge role in connecting families.
Four policy levers recommended to boost S Asia’s competitiveness
Published On: October 8, 2016 09:15 AM NPT By: Sagar Ghimire
WASHINGTON, Oct 7: South Asia can become the next manufacturing and export powerhouse if it increases the competitiveness, according to a new report by the World Bank.
WB report recommends four ‘policy levers’ to boost productivity, competitiveness of South Asia
Published On: October 7, 2016 10:44 AM NPT By: Sagar Ghimire
WASHINGTON DC, Oct 7: South Asia can become the next manufacturing and export powerhouse if it increases the competitiveness, according to a new report by the World Bank.
IMF lowers Nepal’s growth forecast to 4 percent
Published On: October 5, 2016 12:06 PM NPT By: Sagar Ghimire
WASHINGTON, DC, Oct 4: While the government says Nepal will achieve an economic growth of 6.5 percent in the current fiscal year, the International Monetary Fund on Tuesday projected that Nepal’s growth in the current fiscal year would rebound by only 4 percent.
New cooperatives bill tabled in parliament
Published On: October 1, 2016 09:00 AM NPT By: Sagar Ghimire
KATHMANDU, Sept 30: Taking cue from troubled cooperatives that landed into crisis due to weak governance, the government has proposed new measures in the new cooperatives bill to strengthen corporate governance and ensure internal control system in the cooperatives.
25% of migrant workers' earning goes to repay loans: NRB report
Published On: September 27, 2016 05:29 AM NPT By: Sagar Ghimire
KATHMANDU, Sept 27: Nearly 52.1 percent of Nepali migrant workers still rely on informal channel like local landlords and traders for loans to finance their foreign employment trip, requiring them to allocate a major chunk of their earnings for the repayment.
Remittances decline as number of outbound workers falls
Published On: September 23, 2016 03:36 AM NPT By: Sagar Ghimire
KATHMANDU, Sept 23: Remittance inflow has declined 2.5 percent in the first month of the current fiscal year 2016/17 to Rs 51.94 billion, indicating uneasy days ahead for the economy.
Cooperatives growth on a declining trend
Published On: September 21, 2016 02:31 AM NPT By: Sagar Ghimire
KATHMANDU, Sept 21: The growth rate of cooperatives is on a declining trend since 2009/10.
Provision on conversion of promoter shares stirs debate
Published On: September 19, 2016 12:50 AM NPT By: Sagar Ghimire
KATHMANDU, Sept 19: A provision in the bill to amend Bank and Financial Institution (BAFIA) Act, which allows promoters of a bank or financial institution to sell their shares to public after certain period, has stirred a debate between former finance ministers and former central bank governors.
NRB eases process for expats to repatriate their earning
Published On: September 13, 2016 01:30 AM NPT By: Sagar Ghimire
KATHMANDU, Sept 13: Nepal Rastra Bank (NRB) has simplified the process for foreign nationals to get foreign exchange service for repatriating their income to their home country.
Limitation on working areas of co-ops proposed
Published On: September 12, 2016 08:36 AM NPT By: Sagar Ghimire
KATHMANDU, Sept 11: The government has proposed a new measure to limit the working areas of a cooperative within a village development committee (VDC).
With banking crimes on rise, new bill takes tougher tack
Published On: September 10, 2016 07:15 AM NPT By: Sagar Ghimire
KATHMANDU, Sept 9: Parliament has endorsed the bill to amend the Banking Offenses and Punishment Act 2008, outlawing ‘Dhukuti’ schemes as well as provisioning stricter punishment for banking and financial crimes.
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