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

'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.

NepWaste to collect Kathmandu's waste

Published On: March 7, 2018 02:39 PM NPT By: Sagar Ghimire

Investment Board finalizes a much-awaited agreement with Finnish joint venture for the management of the municipal solid waste. Each household will have to pay Rs 219 per month as waste collection service fees.

Finance ministry to issue white paper on economic situation

Published On: March 7, 2018 11:15 AM NPT By: Sagar Ghimire

KATHMANDU, Mar 7: Minister for Finance, Yubaraj Khatiwada, is planning to issue white paper to make public the current economic position of the country and the measures that the government plan to take to deal with the ongoing economic and financial challenges.

Technocrat Khatiwada heads finance ministry

Published On: February 27, 2018 06:15 AM NPT By: Sagar Ghimire

KATHMANDU, Feb 27: Prime Minister KP Oli has chosen Yuba Raj Khatiwada, a monetary economist, as the Minister for Finance and Policy, overlooking other senior leaders of his own party to lead a crucial ministry that is responsible for maintaining both micro and macroeconomic stability in the country.

Climate smart approach to benefit both farmers, private sector

Published On: February 17, 2018 09:22 AM NPT By: Sagar Ghimire

KATHMANDU, Feb 17: Engagement of private sector in promoting climate smart agriculture can be beneficial for both farmers and private sector if the results of a pilot program for climate resilient agriculture are something to go by.

Oli for legalizing 'underground money'

Published On: January 30, 2018 06:50 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 30: CPN-UML Chairman KP Sharma Oli has said that  'underground money' should be allowed to come to the surface.

Bankers expecting relaxation on prudential lending limit like last year

Published On: January 24, 2018 05:00 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 24: At a time when bankers are hoping that the Nepal Rastra Bank (NRB) will provide them a relaxation on credit to core-capital-cum-deposit (C-CD) ratio, the central bank has indicated that such prudential lending limit is not going to be tweaked to address the current liquidity problem being faced by bank and financial institutions (BFIs).

IMF sees Nepal an exception to South Asian economic growth

Published On: January 21, 2018 08:42 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 21: The International Monetary Fund (IMF) has said that growth is expected to accelerate or remain broadly stable in South Asia except Nepal.

Banks stop lending amid shortage of funds

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

Bankers are panicked at the possibility of huge withdrawal of deposits from the system over the next few days for income tax payment and repatriation of profit by Ncell.

Sebon slaps record fine against two stock brokers

Published On: January 10, 2018 09:56 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 10: The Securities Board of Nepal (Sebon) has slapped a record fine on two stock brokerage firms for their failure to maintain know-your-customer (KYC) compliance.

NRB sets 6-month cooling period for CEOs to join another bank

Published On: December 30, 2017 10:22 AM NPT By: Sagar Ghimire

Cooling period aimed to regulate unhealthy practices among BFIs

WB recommends Nepal reduce import tariff on raw material

Published On: December 22, 2017 10:48 AM NPT By: Sagar Ghimire

KATHMANDU, Dec 22: The government should move away from import-based taxation by lowering tariff rates if it wants to improve the import-to-export environment in the country, a recent report prepared by the World Bank Group states.

IFC sees $46 billion investment potential in Nepal by 2030

Published On: December 5, 2017 09:10 AM NPT By: Sagar Ghimire

KATHMANDU, Dec 5: Nepal offers $46 billion worth of investment opportunities by 2030 while fully meeting the national climate targets it has set under the Paris Agreement, according to a report by International Finance Corporation (IFC).

A CEO from within: Nepali banks showing signs of succession plan

Published On: November 30, 2017 08:14 AM NPT By: Sagar Ghimire

KATHMANDU, Nov 30: Over half a dozen commercial banks are now led by chief executive officers who have been promoted from within their respective institutions.

Non-performing loans of banks decline despite surge in lending rates

Published On: November 29, 2017 06:00 AM NPT By: Sagar Ghimire

KATHMANDU, Nov 29: Non-performing loans (NPL) of commercial banks slightly increased in the first quarter of the current fiscal year 2017/18 compared to corresponding period of FY 2016/17.