MEXICO CITY, Aug 16:Mexico’s central bank on Thursday cut its key lending rate for the first time since June 2014, citing slowing inflation and increasing slack in the economy, and fueling expectations that further monetary policy easing could be on the way.
KATHMANDU, May 17: In what appears to be an indication of banking industry’s gross ignorance to prudential norms, commercial banks have continued their aggressive lending practices in the third quarter of the current fiscal year.
KATHMANDU, May 16: The use of refinance facility provided by the Nepal Rastra Bank (NRB) has increased in the first eight months of the current fiscal year – FY2018/19 as private sector sought more concessional loans under this scheme amid shortage of lendable fund in banking sector and skyrocketing interest rates.
KATHMANDU, March 16: Thirteen persons of erstwhile Apex Development Bank -- promoters and employees -- have been arrested on the charge of banking offence to the tune of Rs 1.6 billion. The bank, which merged with Nepal Credit and Commerce Bank Limited in January last year, had issued loans without informing the latter although it had already entered the merger process. The loans later turned into bad loans.
The contract for the appointment was already signed. Nabil Bank's board meeting approved the agreement few days after signing it and sent the notification to the NRB and the stock exchange [company]. It just so happened that on the same day the NRB also passed a directive to implement the six-month cooling off period.
KATHMANDU, Dec 2: Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal has said that most of the local units in the new federal set up have already got a commercial bank. Speaking at the 20th annual day of Society of Economic Journalists-Nepal (Sejon) in the capital on Friday, governor Nepal said that there are now only 120 local units where commercial banks are yet to open their branch offices.
KATHMANDU, July 21: NIC Asia Bank Ltd, one of the major private-sector commercial banks of Nepal, has turned 20. The bank, initially Nepal Industrial and Commercial Bank Ltd, was registered on July 21, 1998, to operate as a regional bank.
KATHMANDU, May 2: Sunrise Bank Ltd has started providing branchless banking service at three different places of Illam and Sunsari district. Issuing a statement on Tuesday, the bank said that the branchless units have been opened with an aim to expand banking service in rural parts of the country.
KATHMANDU, April 25: A banking expo is being organised at local Bhrikutimandap from April 28 in collaboration with the Nepal Rastra Bank (NRB), Bankers Association, Development Bankers Association and Micro Finance Development Bankers Association.
KATHMANDU, April 19: In its bid to ensure political transparency, the Election Commission has asked business people to make donations to the parties for the upcoming local-level elections only through formal banking channels.
KATHMANDU, Mar 1: The Finance Committee of the parliament has formed a sub-committee to look into the problems in the banking and financial system including the ongoing shortage of lendable funds in bank and financial institutions (BFIs).
KATHMANDU, Jan 27: The Ministry of Finance has issued instructions to the government banks to address the issue of grievances of the people where the banks' branches were displaced during the armed conflict.
KATHMANDU, Dec 17: Nepal Bankers' Association (NBA), in association with Microsoft, on Friday organized a gathering of banking and financial services industry stakeholders, including the Governor of Nepal Rastra Bank Chiranjibi Nepal, to create awareness and discuss the increasing importance of 'Cyber Security and Trust in Technology'.
KATHMANDU, Sept 9: Parliament has endorsed the bill to amend the Banking Offenses and Punishment Act 2008, outlawing ‘Dhukuti’ schemes as well as provisioning stricter punishment for banking and financial crimes.