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.
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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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.
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.