KATHMANDU, Nov 13: Minister for Finance Dr Yubraj Khatiwada has instructed the Nepal Rastra Bank (NRB) to make necessary arrangements to establish banks at all local levels at the earliest.

Does public banking work?

October 16, 2019 00:30 am

Whether public banks will work is not really the right question to ask. More important is whether they will stay on mission

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.

Banking the unbanked

May 2, 2019 01:30 am

It is necessary to channelize money into formal financial system through banking. Every sector of economy must use banking channel to handle financial transactions

Innovating banking

December 30, 2018 01:30 am

Age of digitization has made available several technologies to make banking efficient. Banks in Nepal should benefit from them

KATHMANDU, May 28: From now onward every industry and or company has to mandatorily pay their staffers through banking system.

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 12: The services of bank and financial institutions (BFIs) are still largely concentrated in and around the capital city though the country has moved toward a federal set-up.

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 30: NMB Bank Ltd has signed an agreement with Singapore-based digital banking service provider Bank Genie Pte Ltd to advance its digitization drive.

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, July 9: Travelers to India except for treatment should use electronic cards or other banking instruments for exchange of currency above Indian Rs 50,000 from the next fiscal year.

KATHMANDU, June 26: Private sector has suggested that the government and the Nepal Rastra Bank (NRB) directly funnel cash lying idle in the government coffer into the banking channel.

KATHMANDU, May 24: Global IME Bank has started providing branchless banking service in Kalikot district.

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.

Banking Expo-2017 begins

April 28, 2017 17:15 pm

KATHMANDU, April 28: Banking Expo-2017 targeted to the financially backward communities has started at Bhrikutimandap from today.

First banking expo from April 28

April 25, 2017 17:58 pm

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.

Bizmen told to use banking channels

April 19, 2017 08:05 am

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.

MYAGDI, April 8: Nepal Rastra Bank (NRB) Deputy Governor, Shiva Raj Shrestha, said all the banks' branches will reach out to every local level on a mandatory basis.

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 30: NMB Bank -- a member of the Global Alliance for Banking on Values (GABV) -- is hosting the 9th GABV Annual Meeting in Nepal from March 7 to 9.

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, Jan 2: As the mid-July deadline to increase paid-up capital is drawing closer, bank and financial institutions (BFIs) are intensifying efforts to meet the new requirements.

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, Dec 10: NIC Asia said Friday that its clients will get to transfer funds to other directly to accounts in other financial institutions using its internet banking services.

CBIL starts branchless banking

November 20, 2016 21:50 pm

KATHMANDU, Nov 20: Citizens Bank International Ltd (CBIL) has started branchless banking service in Jamuni VDC of Bardiya.

KATHMANDU, Nov 21: Citizens Bank International Ltd (CBIL) has started branchless banking service in Jamuni VDC of Bardiya.

KATHMANDU, Sept 18: Citizens Bank International Ltd (CBIL) has started branchless banking service in Najaramandap VDC of Nuwakot.

MYAGDI, Sept 15: Banking industry in Myagdi is confronting the problem of multiple banking, thanks to unhealthy competition among bank and financial institutions (BFIs).

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.

KATHMANDU, Aug 16: Sunrise Bank Ltd has started branchless banking service at Masuriya of Kailali.

Digital banking

August 9, 2016 00:35 am

Though government and the central bank are committed to enhancing financial inclusion through digitization of banking services, its pace is slow in Nepal

KATHMANDU, July 30: Nepal Stock Exchange (Nepse) index gained 79.1 points this week to close at 1,881.45 points on Thursday--the last trading day of the week.

KATHMANDU, July 23: Nepal Stock Exchange (Nepse) index climbed up 53.09 points this week to close at 1,798.83 points on Thursday.

Banking on the poor

July 5, 2016 00:35 am

The author is an Executive Director at Nepal Rastra Bank and oversees its Micro-Finance Promotion & Supervision Department

KATHMANDU,June28: Sunrise Bank Ltd has started its seventh branchless banking service in Nayabazar of Ilam.

Sunrise Bank Ltd has started its seventh branchless banking service in Nayabazar of Ilam.