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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

NRB to act strict against BFIs leaving merger midway

Published On: September 9, 2016 03:30 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 9: Alarmed by the rising cases of merger and acquisition (M&A) process of bank and financial institutions (BFIs) collapsing midway, Nepal Rastra Bank (NRB) has introduced new measures of taking action against such BFIs or their directors if they do not implement merger or acquisition plan within a stipulated timeframe.

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67 firms seek license for payment-related services

Published On: September 8, 2016 01:30 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 8: Over 67 companies have sought license from Nepal Rastra Bank (NRB) to provide payment-related services.

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NRB officials barred from joining BFIs right after retirement

Published On: September 1, 2016 09:13 PM NPT By: Sagar Ghimire

KATHMANDU, Sept 1: The Parliament on Thursday endorsed the amendment bill on Nepal Rastra Bank Act, 2058, restricting officials of Nepal Rastra Bank (NRB) from joining bank and financial institutions (BFIs) for a certain period.

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Nepse to operate trade guarantee fund, start auction trading

Published On: August 25, 2016 08:19 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 24 : The Nepal Stock Exchange (Nepse) has forwarded its draft on securities-listing bylaws, trade-guarantee fund bylaws and auction-trading working procedure to the Securities Board of Nepal (Sebon) for approval.

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Private banks to fly in US dollars to ease crunch

Published On: August 25, 2016 12:20 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 25: With the shortage of US dollars becoming acute, commercial banks are preparing to bring the greenback from their accounts in foreign banks. The banks are still undecided about the volume of dollar bills they wish to bring in to ease the shotage of the U.S. currency in Nepal.

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BAFIA amendment bill still at Finance Committee

Published On: August 24, 2016 09:19 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 23: The Finance Committee of the parliament, which was pressing the full house to immediately approve a bill to amend and unify the Bank and Financial Institution Act (BAFIA).

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'Comfortable' liquidity situation pushes deposit rates up

Published On: August 20, 2016 01:40 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 20: Here is some good news for people who are fed up with ultra-low interest rates offered by bank and financial institutions (BFIs).

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Beema Samiti fixes two-term limit for board members

Published On: August 18, 2016 01:30 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 18: At a time when a provision to cap the tenure of board directors of bank and financial institutions (BFIs) for a maximum of two terms is facing steep opposition, Beema Samiti has brought corporate governance directive for insurance companies that prohibits a board director from taking the post for more than two terms.

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Interest rates corridor comes into implementation

Published On: August 10, 2016 01:10 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 10: Nepal Rastra Bank (NRB) is introducing interest rates corridor system from Wednesday as part of its effort to control the interest rates volatility that has been grappling the banking and financial system.

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NRB caps penal interest on loans at 2 percent

Published On: August 2, 2016 01:30 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 2: Nepal Rastra Bank (NRB) has set a ceiling of 2 percent on penal interest that bank and financial institutions (BFIs) charge their borrowers if they miss loan payment.

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Change of govt sends BAFIA amendment bill on the backburner

Published On: August 1, 2016 02:10 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 1: Change of the government has delayed discussion and deliberation on the bill to amend and integrate Bank and Financial Institution Act (BAFIA).

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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