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

sagar.use@gmail.com

Government prepares to issue microinsurance license

Published On: July 13, 2018 07:34 AM NPT By: Sagar Ghimire

KATHMANDU, July 13: Similar to microfinance institutions that cater financial needs of low-income and rural individuals or groups, the government is preparing to license microinsurance companies that will bring plans to provide coverage to people of low-income groups and low-valued assets.

NRB moves to lower interest rates

Published On: July 12, 2018 06:05 AM NPT By: Sagar Ghimire

KATHMANDU, July 12: Nepal Rastra Bank (NRB) has brought in monetary policy for the upcoming fiscal year 2018/19 with a number of measures aimed at addressing the skyrocketing lending rates in recent months.

NRB tightens personal overdraft, resources to stock market

Published On: July 12, 2018 05:25 AM NPT By: Sagar Ghimire

KATHMANDU, July 12: Nepal Rastra Bank (NRB) has controlled the flow of investment of bank and financial institutions (BFIs) toward revolving type of credit including overdraft. Unveiling the Monetary Policy for Fiscal Year 2018/19, the central bank reduced the limit of personal overdraft loan to Rs 5 million from existing Rs 7.5 million.

Forceful merger on the cards for insurers that fail to shore up capital

Published On: July 7, 2018 05:35 AM NPT By: Sagar Ghimire

BANEPA, July 7: Beema Samiti -- the insurance sector regulator -- has said that it will direct insurance companies that fail to meet the new paid-up capital requirement within the specified deadline to pursue merger.

NBA again caps interest rates on deposits

Published On: June 22, 2018 08:40 AM NPT By: Sagar Ghimire

KATHMANDU, June 22: With tacit support from the Nepal Rastra Bank (NRB), the Nepal Bankers’ Association (NBA) has once again decided to cap interest rates on deposits.

Shivam to be first cement company to go public

Published On: June 22, 2018 05:45 AM NPT By: Sagar Ghimire

Gets Sebon nod to issue 5.28 million units of shares

Fall in number of workers not linked to 'free-visa-free-ticket': NRB

Published On: June 13, 2018 06:30 AM NPT By: Sagar Ghimire

KATHMANDU, June 13: The falling number of Nepali workers going for foreign employment after the enforcement of the 'free-visa-free-ticket' system is due to not any slowdown in demand but supply side issues, according to a report issued by Nepal Rastra Bank (NRB).

Lower taxes for low- and middle-income earners

Published On: May 30, 2018 10:18 AM NPT By: Sagar Ghimire

People with annual earnings of up to Rs 450,000 will have to pay only 1% social security tax for Rs 350,000 and 10% of the remaining Rs 100,000. Under this taxation, the total income tax on annual income of Rs 450,000 will be Rs 13,500.

Two and half years on, Nepal still await exchange facility

Published On: May 11, 2018 05:29 AM NPT By: Sagar Ghimire

Modi had lifted ban on the circulation of 500, 1,000 rupee banknotes during his Nepal visit in 2014.

Nepal seeks ADB support for urban-rural linkages

Published On: May 5, 2018 07:55 AM NPT By: Sagar Ghimire

MANILA, Philippines, May 5: Nepal has sought investment from the Asian Development Bank (ADB) on major infrastructure projects that can link urban and rural areas, support the implementation of federalism, provide grants for the earthquake reconstruction efforts, and finance programs to achieve Sustainable Development Goals (SDGs).

Post-quake reconstruction top priority of JICA cooperation

Published On: April 26, 2018 07:55 AM NPT By: Sagar Ghimire

Japan International Cooperation Agency (JICA) has been engaged in Nepal as a development partner of Nepal since 1969. The support, which mainly includes grant assistance, concessional loan and technical cooperation, has been on wide range of sectors with twin aim of helping Nepal achieve socio-economic development and promoting friendship between the two countries. JICA has also been on the forefront in helping Nepal for reconstruction after the 2015 earthquakes.

Bank interest, minister statement blamed for new low in Nepse

Published On: March 27, 2018 06:00 AM NPT By: Sagar Ghimire

KATHMANDU, March 27: Nepal Stock Exchange (Nepse), the only stock market of the country, crashed on Monday as the benchmark index plunged 51.89 points, or 4.25 percent, on a single day to close at 1,168.55 points.

Advance interest payment scheme creating 'duplicate' deposits

Published On: March 26, 2018 06:15 AM NPT By: Sagar Ghimire

KATHMANDU, March 26: Commercial banks offering advance interest payment for depositors have prompted concerns among other bankers. They say that such scheme was creating 'artificial deposits'.

Underinvoicing raises tax avoidance, money laundering concerns

Published On: March 21, 2018 05:30 AM NPT By: Sagar Ghimire

KATHMANDU, March 21: Trade and Export Promotion Center (TEPC) has said that Nepali traders are indulging in under-invoicing at customs points while exporting hand-knotted carpet to China, raising suspicion of money laundering and tax evasion by the carpet industry.

'No bank survives by just vanilla banking'

Published On: March 11, 2018 11:45 AM NPT By: Sagar Ghimire

The contract for the appointment was already signed. Nabil Bank's board meeting approved the agreement few days after signing it and sent the notification to the NRB and the stock exchange [company]. It just so happened that on the same day the NRB also passed a directive to implement the six-month cooling off period.

NBA, NIC Asia Bank accuse each other of unfair practices

Published On: March 10, 2018 12:30 PM NPT By: Sagar Ghimire

Nepal Bankers Association (NBA) has decided that its 27 member banks will suspend interbank transactions with NIC Asia Bank for breaching understanding on capping deposit rates.

NBA ostracizes NIC Asia Bank for hiking interest rates on deposits

Published On: March 10, 2018 07:00 AM NPT By: Sagar Ghimire

KATHMANDU, March 10: Nepal Bankers Association (NBA) on Friday told its member banks to suspend their interbank transactions with NIC Asia Bank Ltd for raising interests on deposits “in breach of an informal understanding to cap the interest rates.”

Govt revises down growth forecast to 6 pc

Published On: March 8, 2018 02:54 AM NPT By: Sagar Ghimire

KATHMANDU, March 8: The government has revised down the economic growth forecast to 6 percent for the current fiscal year 2017/18 from the previous economic growth target of 7.2 percent. Releasing the mid-term review report of the budget for the current fiscal year, the Ministry of Finance lowered the growth forecast by 1.2 percentage points to 6 percent for the current fiscal year.

Government announces belt-tightening measures amid budget shortfall

Published On: March 8, 2018 02:50 AM NPT By: Sagar Ghimire

KATHMANDU, March 8: Facing a huge mismatch of financial resources in the implementation of budget for the current fiscal year, the government has announced a raft of belt-tightening measures.

Govt revises economic growth target down to 6 pc

Published On: March 7, 2018 04:54 PM NPT By: Sagar Ghimire

KATHMANDU, March 7: The government on Wednesday revised the economic growth target down to 6 percent for the current fiscal year 2017/18 from the initial target of 7.2 percent.