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 email@example.com
KATHMANDU, August 22: The recent incessant monsoon rains, which triggered massive floods in tarai and landslides in other parts of the country, have added an element of uncertainty to the growth outlook for Fiscal Year 2017/18, according to Nepal Rastra Bank (NRB).
KATHMANDU, Aug 17: A new rule introduced by Nepal Rastra Bank (NRB) that no longer allows bank and financial institutions (BFIs) to count interbank deposits for their credit to core capital-cum-deposit (CCD) ratio has made the situation worse for some commercial banks that are already facing shortage of lendable funds.
KATHMANDU, Aug 11: Nepal Rastra Bank (NRB) has issued the licensing policy for the establishment of infrastructure development banks, paving way for interested individuals or firms to apply for a letter of interest and get an operational license to set up such bank.
KATHMANDU, August 9: While banks have observed growth in their deposit volume in recent weeks, bankers say that the skyrocketing interest rates are less likely to come down at least before the second quarter of the current fiscal year 2017/18.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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: