Give credit where due

August 20, 2019 01:30 am

Present day political leaders and self-declared intellectuals revel in demonizing King Mahendra as a dictator. Let’s not be so thankless to the King who created a foundation for us to stand on

KATHMANDU, April 23: The government has set standards on registration of new savings and credit cooperatives amid concerns about their growing concentration in urban areas.

KATHMANDU, Sept 28: The World Bank on Wednesday approved US$ 133 million credit to Nepal to help the country build and maintain safe, resilient and cost-effective bridges on its Strategic Roads Network.

KATHMANDU, July 21: The banking industry continued to grapple with the mismatch of assets and liabilities in the last fiscal year as lending by commercial banks expanded 20.46 percent while their total deposits grew only 16.77 percent.

KATHMANDU, July 12: The Nepal Rastra Bank (NRB) has introduced a provision in the Monetary Policy for Fiscal Year 2018/19 which allows banks to count loans against academic certificates, and higher education loans for students of marginalized and Dalit community, among others, as deprived sector lending.

KATHMANDU, June 19: Bankers have demanded the removal of credit to core capital and deposit (CCD) ratio, stating that the prudential lending limit set by the Nepal Rastra Bank (NRB) is the main culprit behind the ‘credit crunch’.

KATHMANDU, May 8: The “people’s war” was a significant political event born out of historical necessity and any effort to undermine its contribution in social and political changes could put left unity in jeopardy, CPN (Maoist Center) Chairman Pushpa Kamal Dahal has said.

KATHMANDU, April 29: Lending of bank and financial institutions (BFIs) to service industries jumped by 14 percent in the first eight months of the current Fiscal Year 2017/18.

KATHMANDU, April 18: Nepali traders will have to start using banking channel for making or receiving payments from traders in China and India very soon.

Kathmandu, Mar 30: Nepal Telecom has started credit service to its prepaid subscribers.

KATHMANDU, March 24: The World Bank’s credit of US$ 200 million (Rs 20.6 billion) to Nepal for financing federalism in the country has landed into controversy.

KATHMANDU, March 21: The World Bank Group has approved a US$ 200 million (equivalent to Rs 20.6 billion) credit to the government to improve public financial management.

KATHMANDU, Feb 21: Credit growth of the BFIs toward agriculture sector nearly doubled in the first half of FY2017/18, a recent data of Nepal Rastra Bank shows.

Credit flow to non-productive on the rise

February 15, 2018 03:00 am

KATHMANDU, Feb 15: Credit flow of bank and financial institutions (BFIs) to non-productive sectors accounted for 41.6 percent of their total outstanding loans in the first six months of FY 2017/18.

KATHMANDU, Feb 7: Nine commercial banks have earned net profits of over Rs 1 billion in the first half of the current Fiscal Year 2017/18. Not only half-dozen new commercial banks have joined the one-billion profit earners' league, the net profits of most of the commercial banks have also gone up in the review period.

SEOUL Jan 10: South Korean President Moon Jae-in credited U.S. President Donald Trump on Wednesday for helping to spark the first inter-Korean talks in more than two years, and warned that Pyongyang would face stronger sanctions if provocations continued.

KATHMANDU, Jan 3: The government has taken initiatives toward resolving the problem of 'credit crunch' that has again grappled the banking sector due to mismatch between in deposit and loan growths.

KATHMANDU, Dec 29: Due to lack of farsightedness and aggressive lending practices among banks and financial institutions (BFIs), credit is getting very expensive for borrowers.

KATHMANDU, Nov 27: NMB Bank has launched Visa Platinum Credit Cards. Issuing a statement on Sunday, the commercial bank said that it has become the second bank in Nepal to introduce Visa Platinum  Credit Card.

KATHMANDU, May 1: Siddhartha Bank Ltd (SBL), in collaboration with Uno Internet Ventures, has launched Siddhartha Uno Credit Card.

KATHMANDU, April 24: Small Farmer Development Bank (SFDB), in partnership with 636 affiliated cooperatives, has provided loans worth Rs 35 billion to 650,000 earthquake-affected people and small farmers.

KATHMANDU, Mar 29: The World Bank has approved a US$ 185 million credit to support Nepal's efforts at improving equity, quality, efficiency, governance and management of basic and secondary education.

Credit due

March 28, 2017 00:15 am

Although Nepali commercial banks have 1,250 branches, they disburse less than 2.5 percent of total agriculture loan

KATHMANDU, March 15: In what appears to be an indication of the revival of service sector, credits from bank and financial institutions (BFIs) to this sector in the first half of Fiscal Year 2016/17 jumped by 11.9 percent.

KATHMANDU, March 6: Nepal Rastra Bank (NRB) has made it mandatory for bank and financial institutions (BFIs) and payment service providers (PSPs) to put photo of cardholder on debit, credit, prepaid and other electronic payment cards.

KATHMANDU, Feb 10: Commercial banks have decided not to issue new loans to finance unproductive sectors including automobiles and real estate.

KATHMANDU, Feb 11: Bankers have lamented the inaction of Nepal Rastra Bank (NRB) toward addressing the existing problem of credit crunch.

Bank credit growth rises, deposits fall

December 19, 2016 03:50 am

KATMANDU, Dec 19: Deposit mobilization by commercial banks is falling in recent weeks, while loan disbursement is increasing.

KATHMANDU, Dec 12: Securities Board of Nepal (Sebon) has provided Letter of Intent (LoI) to Credit Analysis and Research Limited (CARL) to work as a credit rating agency in Nepal, paving the way for the Mumbai-based company to enter the Nepali capital market which has seen monopoly one rating company.

KATHMANDU, Nov 24: At the same time last year, people were compelled to live in dark up to 7-8 hours. But, things are different now. There is no load-shedding in the Kathmandu Valley since more than a month.

KATHMANDU, Sept 15: Nepal has failed to fully utilize the Indian line of credit (LoC) of US$ 1,000 that the southern neighbor announced in 2014.

Kumari Bank launches credit cards

September 13, 2016 00:55 am

KATHMANDU, Sept 13: Kumari Bank Ltd (KBL) has launched Kumari Credit Card.

MBL launches Visa credit card

September 1, 2016 21:00 pm

KATHMANDU, Sept 1: Machhapuchchhre Bank Ltd (MBL) has introduced Visa credit card.

Fakhri duped in credit card scam

August 18, 2016 18:44 pm

MUMBAI, Aug 18: Bollywood actress Nargis Fakhri has allegedly been cheated of around Rs 600,000 through fraudulent use of her credit card in the United States, police said today. The actress filed a complaint in this connection at Juhu Police Station earlier this week.

KATHMANDU, June 30: Small Farmers Development Bank (SFDB) has started disbursement of first livelihood restoration credit.

KATHMANDU, July 28: While the government has already set up an economic rehabilitation fund to provide interest subsidy and cheaper credit to businesses and industries battered by the recent Tarai turmoil and last year's earthquakes, there has not been a single demand from private sector for such facility.

KATHMANDU, July 20: Prabhu Bank Ltd has launched 'InstaPay' and 'RewardPoints' schemes for its credit card holders.

KATHMANDU, June 29: Small Farmers Development Bank (SFDB) has started disbursement of first livelihood restoration credit.