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, 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.
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.
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.
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.
KATMANDU, Dec 26: Minister for Finance Krishna Bahadur Mahara is considering either insurance expert Rabindra Ghimire or Nepal Rastra Bank (NRB) director Chiranjibi Chapagain as the candidates to chair the Beema Samiti, sources at the finance ministry say.
KATHMANDU, Dec 24: Nepal Rastra Bank (NRB) has become optimistic about the economic outlook of the country, citing that the most of the macroeconomic and financial indicators for the country are heading toward an improvement in the current fiscal year.
KATHMANDU, Dec 16: Following a ‘spiralling rise in prices’ in the last fiscal year due to prolonged tarai unrest and unofficial economic blockade in the last fiscal year, the inflation has come down to 4.8 percent in the mid-November this year.
KATHMANDU, Dec 10: People losing on value for the last three years in real terms have now something to cheer as banks and financial institutions (BFIs) are now wooing them with as high as 9 percent interest rates on various fixed deposit schemes.
KATHMANDU, Dec 6: Despite Nepal's repeated requests to India to provide exchange facilities for the demonetized Indian currency notes of 1,000 and 500 denominations that are being legally held in Nepal, there has been no official response from India.
KATHMANDU, Nov 22: The Finance Committee of the parliament has approved a bill to amend the Bank and Financial Institution Act (BAFIA), reducing tenure of board directors and chief executive officers (CEOs) of bank and financial institutions (BFIs) to four years.
KATHMANDU, Nov 21: The Ministry of Physical Infrastructure and Transport has decided to terminate all agreements and contracts that the government has signed with the Indian consortium led by Infrastructure Leasing and Financial Services (IL&FS) regarding the development of Kathmandu-Tarai Fast Track project.
UPDATE: The Nepse benchmark index plunged 58.46 points, or 3.53 percent, to close at 1,599.62 points. The market remained volatile thorough out the trading day as panicked investors, with no apparent reasons, scrambled to offload their shares.
KATHMANDU, Nov 20: The Ministry of Physical Infrastructure and Transport has forwarded a proposal to the Cabinet to scrap the agreement earlier reached with Indian consortium IL &FS and the Detailed Project Report (DPR) it prepared for the development of the Kathmandu-Terai Fast Track.
KATHMANDU, Nov 19: When India Prime Minister Narendra Modi withdrew the legal tender of Indian 500 and 1,000 rupee banknotes on November 8, it was meant to curb 'black money' and corruption, but the move itself has ironically created a new black market -- illegal exchange of those notes held in Nepal.
KATHMANDU, Nov 12: Nepal Rastra Bank (NRB) officials have said that they may ask people having 1,000 and 500 Indian rupee bills to furnish proof of the exchange that they had if it decides to provide exchange facility for people holding Indian currency legally.