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

Real deposit rates in positive territory after years

Published On: August 8, 2017 03:15 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 7: With the rise in nominal interest rates in recent months amid shortage of lendable fund in the banking system, depositors are getting real interest rates on their saving.

Govt plans to make Nepal self-sufficient in milk, meat in 2 years

Published On: July 27, 2017 02:30 AM NPT By: Sagar Ghimire

KATHMANDU, July 26: After achieving self-sufficiency in eggs in Fiscal Year 2016/17, the government is now ramping up efforts to become self sufficient in milk and meat in the coming two years.

MCC grant agreement expected to be signed by September

Published On: July 22, 2017 12:07 PM NPT By: Sagar Ghimire

KATHMANDU, July 21:The Millennium Challenge Corporation (MCC), an independent foreign aid agency of the US government, has said that it is finalizing the projects under its US$ 500 million grant to Nepal. The Corporation expects that an agreement will be signed with Nepal for the five-year-long compact program, by September this year.

ID cards made mandatory to deposit money in others' accounts

Published On: July 20, 2017 02:45 AM NPT By: Sagar Ghimire

KATHMANDU, July 19: Depositors will now have to show their identification card if they are depositing cash in others' bank account. Bank and financial institutions (BFIs) may not accept cash if depositors fail to show identification documents.

Slowdown in remittances growth worries lawmakers

Published On: July 14, 2017 01:30 AM NPT By: Sagar Ghimire

KATHMANDU, July 13: Lawmakers have urged the government to take carrot and stick approach for bringing remittances into the country through formal channel and discouraging informal remitting channels like hundi.

Interest rates unlikely to fall anytime soon

Published On: July 12, 2017 03:30 AM NPT By: Sagar Ghimire

KATHMANDU, July 11: It seems that interest rates are not going to fall anytime soon as bank and financial institutions (BFIs) grappling with the shortage of lendable fund are raising their saving rates to lure depositors.

NRB raises productive sector lending requirement to 25%

Published On: July 10, 2017 05:00 AM NPT By: Sagar Ghimire

KATHMANDU, July 10: Nepal Rastra Bank (NRB) has raised the lending requirement for commercial banks toward productive sectors by 5 percentage points to 25 percent of their total lending.

Failure to execute budget results to Rs 221b cash surplus

Published On: July 5, 2017 01:20 AM NPT By: Sagar Ghimire

KATHMANDU, July 5: The government's treasury surplus has hit Rs 221 billion mainly due to its failure to spend.

Bankers, business leaders divide over new consortium loans rule

Published On: June 21, 2017 01:20 AM NPT By: Sagar Ghimire

KATHMANDU, June 21: Business leaders have urged the central bank to put a rule that requires bank and financial institutions (BFIs) to bring multi-bank borrowing above Rs 1 billion into consortium financing by mid-July on hold for the time being.

Does the country need another stock exchange company?

Published On: June 19, 2017 05:00 AM NPT By: Sagar Ghimire

KATHMANDU, June 19: The preparation of the Securities Board of Nepal (Sebon) to license a new stock exchange company has divided investors, analysts, experts and other stakeholders over the need and rationale of another bourse.

Naya Shakti flays decision to award Budhi Gandaki to Gezhouba (with video)

Published On: June 8, 2017 05:15 PM NPT By: Sagar Ghimire

KATHMANDU, June 8: Dr Baburam Bhattarai-led Naya Shakti Party-Nepal (NSPN) has flayed the government decision to handover Budhi Gandaki Hydro Project to China Gezhouba Group Corporation (CGGC), China’s government-owned Company.

Banks' new threat: Their own employees

Published On: June 6, 2017 05:00 AM NPT By: Sagar Ghimire

KATHMANDU, June 6: Ravi Chandra Khanal, a branch manager of a development bank collected deposits from various cooperatives and individuals, promising high interests. He never deposited the allured funds in the bank. The bank he worked with - Kailash Development Bank - understood the heist of nearly Rs 20 million only after the former manager of its Lamachaur, Kaski branch, bade adieu to the bank, and had disappeared in the USA.

Etihad suspends Doha flights until further notice

Published On: June 5, 2017 02:30 PM NPT By: Sagar Ghimire

KATHMANDU, June 5: All flights of Etihad Airways from Kathmandu bound to Doha of Qatar have been suspended from Monday.

Banks to enjoy business monopoly in local units for 3 years

Published On: June 5, 2017 12:00 AM NPT By: Sagar Ghimire

KATHMANDU, June 5: A commercial bank, which becomes the first financial institution to open its branch office in rural municipality, will now enjoy business monopoly in that local unit for three years.

New budget more an aspiration than a framework that can be implemented

Published On: June 2, 2017 11:00 PM NPT By: Sagar Ghimire

The government has tabled the budget for the upcoming fiscal year 2017/18 amid positive economic outlook of the country with growth rate in the current fiscal year projected at 6.94 percent -- the highest since 1993/94.  The International Monetary Fund has also made a projection of 5.5 percent of GDP growth for Nepal. Sagar Ghimire of Republica caught up with Andreas Bauer, the Senior Resident Representative of the International Monetary Fund (IMF) for India, Nepal and Bhutan, to talk about a broad range of economic issues of Nepal. Excerpts:

Bank accounts must in Nepal for people heading abroad to work

Published On: May 30, 2017 01:30 PM NPT By: Sagar Ghimire

KATHMANDU, May 29: Those leaving for foreign employment will now be required to open bank accounts before flying abroad.

CBS predicts economy to grow 6.94 pc, highest since 1993/94

Published On: April 26, 2017 01:00 AM NPT By: Sagar Ghimire

KATHMANDU, April 26: The Central Bureau of Statistics (CBS) has projected the national economy to grow by 6.94 percent for the current fiscal year 2016/17, up from the 6 percent target set by the government.

Suspicious transactions: Reporting entities more vigilant

Published On: April 19, 2017 08:18 AM NPT By: Sagar Ghimire

KATHMANDU, April 19: The number of suspicious transaction reports (STRs) by various bank and financial institutions, insurance companies and securities companies, among other entities that deals with cash transactions, more than tripled in the last fiscal year.

Banks see deposits move from saving to FD accounts

Published On: April 15, 2017 12:40 AM NPT By: Sagar Ghimire

KATHMANDU, April 15: Bank and financial institutions (BFIs) are seeing the exodus of depositors from saving and call deposit accounts to fixed deposits following the rise in interest rates of fixed deposits.

Paid-up capital requirement for insurance cos hiked by 4 times

Published On: April 1, 2017 10:25 AM NPT By: Sagar Ghimire

KATHMANDU, March 31: As the banking industry rushes to meet its new paid-up capital requirement by the mid-July 2017 deadline, insurance companies too were told Friday to raise their own paid-up capitals and given about 15 months to do so.