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

Bankers oppose NRB proposal on floating interest rate loans

Published On: March 23, 2017 01:00 AM NPT By: Sagar Ghimire

KATHMANDU, March 23: Bankers have said that it was not possible to follow a new rule proposed by the Nepal Rastra Bank (NRB) that will prohibit them to revise interest rates on floated loans more than twice a year.

OBOR important for connectivity, integration: AIIB chief

Published On: March 3, 2017 12:20 AM NPT By: Sagar Ghimire

The Asian Infrastructure Investment Bank (AIIB) started its operation as a new multilateral financial institution on January 16 last year. Its president Jin Liqun is in Kathmandu to attend Nepal Investment Summit as a keynote speaker. Sagar Ghimire of Republica talked to Liqun on the sidelines of the summit. Excerpts:

Govt okays Rs 30b foreign investment for six joint ventures

Published On: March 2, 2017 12:40 AM NPT By: Sagar Ghimire

KATHMANDU, March 2: The government has approved a total of Rs 29.83 billion in foreign direct investments for six different joint venture projects.

Indian govt okays Rs 91.58b investment for Arun III

Published On: February 23, 2017 01:10 AM NPT By: Sagar Ghimire

KATHMANDU, Feb 23: The Indian government has sanctioned an investment of Rs 91.58 billion (Indian Rs 57.24 billion) by the Satluj Jal Vidyut Nigam Limited (SJVNL) for the development of the 900 MW Arun III Hydropower Project, giving new momentum to the project that was first mooted by Nepal some three decades ago.

NRB offers some relaxations to release funds for BFIs

Published On: February 22, 2017 10:18 AM NPT By: Sagar Ghimire

KATHMANDU, Feb 22: As the banking industry grapples with the mismatch in deposit and credit growth that have causing shortage of lendable fund, the Nepal Rastra Bank has come up with some relaxations to the BFIs which will free up some funds for them to float as loans.

NRB tightens personal auto loans to 50 pc of valuation

Published On: February 22, 2017 12:20 AM NPT By: Sagar Ghimire

KATHMANDU, Feb 22: Nepal Rastra Bank (NRB) has tightened lending toward auto and vehicle purchases, allowing banks and financial institutions (BFIs) to provide loans of up to only 50 percent of the valuation of a private vehicle.

NRB sets 50% loan limit on private vehicle

Published On: February 21, 2017 02:48 PM NPT By: Sagar Ghimire

KATHMANDU, Feb 21: Nepal Rastra Bank (NRB) has said that it won’t allow banks to extend more than 50 percent of the valuation of the private vehicles while lending loans.

NRB tells BFIs to stop interest rate distortion, other anomalies

Published On: February 9, 2017 09:33 AM NPT By: Sagar Ghimire

KATHMANDU, Feb 9: Concluding that the banks and financial institutions (BFIs) are perpetuating anomalies in the financial sector, Nepal Rastra Bank (NRB) has instructed them to abide by self-regulation before the central bank takes stern action against them.

Nepse dives 5 percent on first trading day

Published On: January 31, 2017 07:27 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 31: The tightening of margin lending by banks and financial institutions (BFIs) and rapid rise in interest rates in recent days has sent a jitters among investors, causing a panic sell off in the stock market.

Liquidity-starved banks enforce interest rate cartel

Published On: January 27, 2017 12:18 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 27: In what seems to be an interest rate cartel, bankers have agreed to cap deposit rates at 12 percent.

Halt in lending likely as banks see loan-able funds dry up

Published On: January 25, 2017 01:10 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 25: Commercial banks are literally left without any money to extend new loans, indicating that credit expansion of most of these banks will come to a grinding halt if they do not receive fresh financing facility.

IMF mission sees 'limited impact' of Indian demonetization in Nepal

Published On: January 24, 2017 01:30 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 24: Amid concerns that the decision to scrap high value Indian banknotes by the Indian government is also likely to weigh on economic growth of Nepal, the International Monetary Fund (IMF) has played down such risk.

Why do the economic growth forecasts differ?

Published On: January 24, 2017 12:50 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 24: The International Monetary Fund (IMF) has said that the Nepali economy will grow by 5.5 percent in Fiscal Year 2016/17. The World Bank (WB) has a different estimate: 5 percent. In a more conservative estimate, the Asian Development Bank (ADB) has forecast that Nepal's economy will grow only by 4.88 percent. And, the government has set economic growth target at 6.5 percent.

Shortage of funds prompts bankers to ask NRB to scrap CCD ratio requirement

Published On: January 21, 2017 10:02 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 21: Bankers have urged Nepal Rastra Bank (NRB) to scrap the credit to core-capital-cum-deposit (CCD) ratio requirement that bank and financial institutions (BFIs) have to maintain.

House passes BAFIA, with two four-year term limits for CEOs, chairmen

Published On: January 11, 2017 12:50 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 11: The parliament has endorsed the bill to amend and unify bank and financial institution act (BAFIA), imposing two term limit for the chief executive officer, chairman and managing director of a bank or financial institution. The bill endorsed by a full house of parliament on Tuesday will come into effect once it receives the presidential seal. Among other things, the newly-endorsed act has set a term of upto four years for the board directors and CEOs.

NRB shrugs off liquidity crunch in face of 'aggressive lending' by BFIs

Published On: January 10, 2017 08:05 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 10: As banks and financial institutions (BFIs) up their  'aggressive' lending, Nepal Rastra Bank (NRB) has taken a cautious strategy of tightening liquidity (loan-able funds) to curb any lending binge, particularly in unproductive sectors.

Rs 20b repo meant to ease liquidity crunch gets lukewarm response

Published On: January 7, 2017 09:07 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 7: Bank and financial institutions (BFIs), which have been seeking financing facility from the Nepal Rastra Bank (NRB) to ease 'liquidity crunch' problem, have showed reluctance to receive funds from the central bank under repo having two-week maturity.

Banks seek NRB financing facility as liquidity tightens

Published On: January 5, 2017 12:10 PM NPT By: Sagar Ghimire

KATHMANDU, Jan 5: Running out of funds to extend new loans due to liquidity crunch, banks are now turning up to Nepal Rastra Bank (NRB) for financing facility.

Nepal fails to welcome even a single foreign bank

Published On: January 3, 2017 11:20 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 3: Even though it has already been seven years since the government opened doors for foreign banks in the Nepali financial sector, not a single such bank has opened its branch office in Nepal.

Banking industry faces deadline rush to meet new paid-up capital requirements

Published On: January 2, 2017 09:00 AM NPT By: Sagar Ghimire

KATHMANDU, Jan 2: As the mid-July deadline to increase paid-up capital is drawing closer, bank and financial institutions (BFIs) are intensifying efforts to meet the new requirements.