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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
sagar.use@gmail.com

NRB, World Bank differ on impact of fiscal transfers, recent floods

Published On: September 24, 2017 07:15 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 24: While the World Bank has recently revised its economic growth forecast for Nepal down to 4.6 percent for the current Fiscal Year 2017/18, partly due to the impact by recent floods, Nepal Rastra Bank (NRB) has, however, played down such worries.

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World Bank forecasts moderate economic growth of 4.6 percent

Published On: September 18, 2017 07:49 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 18: ‘Severe floods in one-third of the country dampened economic momentum’

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Minister sides with blacklisted Spanish firm in row with CAAN chief

Published On: September 17, 2017 02:00 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 16: Minister of Culture, Tourism and Civil Aviation, Jitendra Narayan Dev, has sought clarifications from  Director General Sanjiv Gautam  of the Civil Aviation Authority of Nepal (CAAN) in an apparent bid to fire him, and in doing so he is taking  sides with a blacklisted Spanish contractor, Constructora Sanjose SA.

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Private sector organizations lobby to protect Durbar Marg traders

Published On: September 10, 2017 07:16 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 10: The two leading umbrella organizations of the private sector are now intensifying their lobbies for the protection of their members of Durbar Marg who have been accused of fleecing consumers by charging exorbitant prices on ‘branded goods’.

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Durbar Marg traders shut down stores to protest govt monitoring

Published On: September 8, 2017 07:08 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 8: Traders have shut down their businesses in Durbar Marg for an ‘indefinite period’ to protest the government’s raid conducted on some of the outlets on Monday and Wednesday.

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Govt fails to channelize Indian assistance to distribute housing grants

Published On: August 31, 2017 09:05 PM NPT By: Sagar Ghimire

KATHMANDU, Aug 31: The government plan to utilize part of the Indian Line of Credit (LoC) of US$ 750 million, or nearly Rs 75 billion, announced in April 2015 faces roadblock as a condition of the LoC requires Nepal to utilize India's content, consultant and contractor services in project funded by such assistance.

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Inflation wedge with India narrows to 1.1 percent

Published On: August 27, 2017 09:24 AM NPT By: Sagar Ghimire

KATHMANDU, August 27: Nepal's inflation wedge with India has narrowed down to 1.1 percent in the last fiscal year 2016/17 as inflation of both countries cooled down.

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NRB says tarai floods may affect growth outlook

Published On: August 22, 2017 08:18 AM NPT By: Sagar Ghimire

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).

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New NRB rule to hit banks’ lending capacity in short-run

Published On: August 17, 2017 10:57 AM NPT By: Sagar Ghimire

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.

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NRB issues licensing policy for infrastructure development banks

Published On: August 12, 2017 09:59 AM NPT By: Sagar Ghimire

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.

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Lending rates less likely to come down until Q2

Published On: August 10, 2017 03:27 AM NPT By: Sagar Ghimire

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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