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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

Bankers reluctant to bring down lending rates

Published On: October 13, 2018 09:00 AM NPT By: Sagar Ghimire

KATHMANDU, Oct 13: Though the Nepal Bankers Association (NBA) has decided to lower the cap for commercial banks on deposit rates, banks have shrugged off any suggestion to reduce their lending rate immediately.

House sub-committee find 'collusion' in fixing sugar price

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

KATHMANDU, Oct 12: A sub-committee formed by the parliament's Public Accounts Committee (PAC) has concluded that various government officials and sugar mills had acted colluded to artificially drive up the price of sugar in the market.

Govt forms committee to sign tax treaty with various countries

Published On: September 23, 2018 04:05 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 23: The government has taken a step toward signing the treaty for the avoidance of double taxation and prevention of fiscal evasion with various countries including the United Kingdom.

DFID-aided project funds profit-making banks to expand business

Published On: September 4, 2018 06:58 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 4: Commercial banks that have been earning billions in annual profits are benefitting from grants from Sakchyam,  a project funded by the UK’s Department for International Development (DfID) to increase  access to finance for the poor.

Govt distributing subsistence allowance to unemployed citizens

Published On: August 29, 2018 10:27 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 29: The government will provide unemployment allowance to jobless people if the bill to ensure people’s right to employment is enacted by the parliament.

Households under risk of food insecurity to get identity cards

Published On: August 24, 2018 07:46 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 24: The government has proposed to distribute Food Support Identity Card to people vulnerable to food insecurity. A new bill registered by the government in parliament last week to ensure food security and food sovereignty includes a provision to issue such identification cards to people who are at the risk of food insecurity.

Inflation falls to 14-year low of 4.2%

Published On: August 22, 2018 09:33 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 22: The annual average inflation dropped to a 14-year low of 4.2 percent in the last fiscal year.

Government mulls social security scheme for migrant Nepali workers

Published On: August 16, 2018 07:28 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 16: The government is mulling over providing social security benefits for Nepali workers going abroad. As the government is moving toward implementing contribution-based pension system for government employees, Nepalis in foreign employment are also likely to be enrolled in social security schemes, including retirement saving plans, according to government officials.

Govt to develop 100 new tourist destinations this FY

Published On: August 4, 2018 07:19 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 4: The Ministry of Culture, Tourism and Civil Aviation (MoCTCA) has plans to identify and develop 100 new tourist destinations across the country in the current Fiscal Year 2018/19.

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.