December 11, 2018 09:11 am

Bill Gates once said, “If you are born poor it’s not your mistake, but if you die poor it’s your mistake.” When I read this remarkable quote, I question myself what is the difference between rich and poor. In fact, if I am not wrong in my opinion, then one thing is clear; everyone wants that financial freedom in his/her life. Sadly, many people are not enjoying it in a decent manner. The reason is that they are fighting just for the sake of bread and butter in their daily lives rather than stepping out of their comfort zones. This narrow mind must be changed, if he/she wants to be financial free in life.

KATHMANDU, Oct 1: Nepal Rastra Bank (NRB) has launched Nepal Financial Inclusion Portal to track progress of financial inclusion across the country.

KATHMANDU, July 31: Prime Minister KP Sharma Oli stressed the need for also the political leadership to abide by financial laws and rules.

KATHMANDU, July 19: The date for opening financial proposal of five firms to award the task of rebuilding Dharahara, which was destroyed in the 2015 earthquake, has been postponed again.

KATHMANDU, June 18: Nepal Telecommunications Authority (NTA) is preparing to sign a Memorandum of Understanding (MoU) with Nepal Rastra Bank (NRB) for expanding digital financial services across the country.

KATHMANDU, May 28: IFC, a member of the World Bank Group, has assisted Nepal Rastra Bank (NRB), the central monetary authority of Nepal, in developing the country’s first Environmental and Social Risk Management (ESRM) guidelines for the financial sector.

Farmers face financial stress

May 27, 2018 03:30 am

RAUTAHAT, May 27: Sugarcane farmers of Rautahat district are having a hard time making for their daily livelihood as Sree Ram Sugar Mills is yet to make payment to 14,000 farmers for the sugarcane they purchased long ago. Mill manager Siya Ram Sah has admitted to the fact that the mill is liable to make Rs 500 million worth of payments to the farmers.

KATHMANDU, May 10: The Institute of Chartered Accountants of Nepal (ICAN), in association with Confederation of Asian and Pacific Accountants (CAPA), is organizing 'International Conference on Public-Sector Financial Management' in Kathmandu on Saturday.

Is financial sector safe?

April 22, 2018 00:30 am

According to the IMF study, most banks could have weathered the crisis effectively if 15 cents of every dollar of funding had come from equity

Financial Bill enacted

April 2, 2018 19:33 pm

BIRATNAGAR, April 2: A meeting of the Province-1 State Assembly unanimously endorsed the Province Financial Work Procedures Bill-2074 BS tabled for amendment today.

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, March 19: Country’s financial condition is getting tighter as all indicators of financial transactions with other countries have posted negative indicators.

KATHMANDU, March 16: Siuri Nyadi Power Limited has reached financial closure to build Super Nyadi Hydropower Project (40.27 MW).

KATHMANDU, March 10:  Banking experts and stakeholders have said that promoting digital finance system will help bring a large number of the country's population into the formal financial system.

KATHMANDU, Feb 28: The number of suspicious transaction reporting (STR) by financial and other reporting institutions has declined significantly in the last fiscal year -- FY2016/17.

BIRGUNJ, Feb 2: The family members of those killed in the massive fire at Super Gas Industry at Sukchaina, Birgunj-18, in December last yer have received financial help from various stakeholders of late.

KATHMANDU, Jan 30: The government has directed the cooperatives and banks to maintain the particulars containing all information about their members.

BEIJING, Jan 11: China’s plan for a modern Silk Road of railways, ports and other facilities linking Asia with Europe hit a $14 billion pothole in Pakistan.

KATHMANDU, Jan 1: The Securities Board of Nepal (SEBON) has directed the sides concerned to provide information about their financial status before issuing their initial public offering (IPO) so that the people can make informed decision.

KANCHANPUR, Dec 23: The Shuklaphanta municipality office has granted a relief amount of Rs 218,000 to 109 victims of tuskers' rampage in and around municipality area.

KATHMANDU, Nov 14: The Investment Board of Nepal (IBN) has once again extended the deadline for the developers of Arun III Hydropower Project and Upper Karnali Hydropower Project to achieve the financial closures of both projects.

KATHMANDU, Nov 13: A meeting of Investment Board Nepal (IBN) has extended the deadline of Arun-III Hydropower Project and Upper Karnali Hydropower Project for financial closure.

KHOTANG, Sept 27: Financial literacy classes are being operated in Rupakot Majhuwagadi municipality of Khotang to help the locals better use the remittance money that enters the district from foreign employment. The classes aim to help the people save and utilize the remittance money by investing it in productive sectors to create a sustainable source of income.

PARBAT, September 12: As many as 10 impoverished households at Bachha in Parbat district have been provided financial assistance to help build houses for them.

KATHMANDU, Sept 6: The Investment Board Nepal (IBN) has received an application from the promoter of Upper Karnali Hydropower Project with the call to extend the project’s construction tenure.

JACKSON HOLE,  August 27: Janet Yellen delivered a message to President Donald Trump on Friday, making it clear that if he re-nominates her as Federal Reserve chair she will not turn her back on the raft of US financial reforms that Republicans want to roll back.

Financial aid for flood victims

August 19, 2017 12:32 pm

BARDIYA, August 19:  Heifer International Nepal (HIN) has started to provide relief materials to the victim families affected by the recent flooding in the Babai river.

KATHMANDU, August 19: Fiscal federalism experts have raised concerns over the two bills related to formation of a national natural resources and fiscal commission and distribution of sources of revenues to the central, state and local levels, stating that they have taken a centralized approach that may lead to concentration of resources at the central level.

KATHMANDU, July 28 : The Nepal Stock Exchange (Nepse) index jumped up by 10.97 points to close at 1,646.53 points on Thursday -- the last trading day of the week.  The benchmark index has been logging gains since the beginning of the Fiscal Year 2017/18. Last week, Nepse had gone up by 52.18 points.

LAHAN, July 27: The tendency of government agencies and local units leaving the development budget unused till the 11th month of the fiscal year and spending it all in the final month has been found in targeted programs including women empowerment programs.

KATHMANDU, July 18: The Finance Committee of the Legislature-Parliament has formed a probe panel to investigate into the alleged financial irregularities in purchasing the land of the Nepal Oil Corporation (NOC).

KATHMANDU, July 12 : The Office of the Auditor General (OAG) has said that it will name the head of a public office, who has financial arrears and is involved in other financial indiscipline, in its next annual report. It will audit all public spending of the current fiscal year and make public the report by mid-April.

KATHMANDU, July 8: Nepal Rastra Bank (NRB) is introducing the monetary policy for fiscal year 2017/18 on Sunday with a focus on addressing the current 'financial friction', support the 'ambitious' economic growth target set by the government and bringing down inflation.

KATHMANDU, June 16: An expert on federal fiscal system has called for adequate financial resources to the local level to abet the zeal of the people's representatives and the people for development at local level.

KATHMANDU, June 5: A five-day financial literacy program was organized for quake survivors of Nuwakot from May 29 to June 2.

BEIJING, May 15: China has agreed in principle to provide financial support to Nepal for the construction of a cross-border railway link that would link Kerung with Kathmandu, Pokhara and Lumbini, according to Minister for Information, Surendra Kumar Karki.

RATNAGAR, April 23: More than Rs 250,000 financial aid has been collected for the treatment of a boy injured in a crocodile attack in western Chitwan.

Global economic leaders on Friday continued downplaying possible friction with the Trump administration over currencies, trade and other potentially contentious issues, even while acknowledging that much about the U.S. president's plans remains unclear.

KATHMANDU, April 11: World Bank has agreed to provide a US$ 100-million (approximately Rs 10.70 billion)-loan assistance for the financial sector stability development policy credit III.

KATHMANDU, March 22: Yeti Development Bank has said that it organized financial literacy program under its CSR activities in Kathmandu as well as different parts of the country.

KATHMANDU, March 7: Prime Minister Pushpa Kamal Dahal has said the banks and financial institutions should play a pivotal role in raising the living standard of the people through mobilization of the financial resources.

KATHMANDU, Mar 4: The World Bank has approved a US$ 100 million credit to help Nepal accelerate its medium-term reform program for the financial sector, and to reduce the vulnerability of the banking sector and increase its transparency.

KATHMANDU, March 3: The Government of Japan has pledged Rs 8,587,000 in financial assistance for Nepal Social Development and People Empowerment Center (NESPEC) under the Grant Assistance for Grassroots Human Security Projects (GGP) scheme of the Fiscal Year 2016 of Japan government.

KATHMANDU, Feb 7: Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal has said that the present mismatch between deposit collection and loan mobilization was because of the lack of financial discipline in bank and financial institutions (BFIs).

SINDHULI, Jan 29: The vulnerable children exposed to high risk situation received financial assistance from the District Child Welfare Committee here.

KATHMANDU, Jan 10: The meeting of the Legislature-Parliament on Tuesday, by a majority has endorsed the bill related to bank and financial institution-2073 BS.

KATHMANDU, Jan 9: Investment Board Nepal (IBN) on Sunday extended the deadline to the developers of Upper Karnali and Arun III projects to complete financial closure by a year.

KATHMANDU, Dec 25: Nepali Congress leader, Prakashman Singh, today said the Congress District Treasurers' First National Conference has contributed significantly in bringing about financial transparency in the party.

KATHMANDU, Dec 20: National Banking Institute (NBI) and NIC Asia Bank have signed a Memorandum of Understanding (MOU) to jointly launch 'Financial Literacy' campaign as part of the bank's CSR initiative.

KATHMANDU, Nov 23: Anika Tamang, 20, of Mulkharka-1 of Okhaldhunga District, on Wednesday received financial support for cancer treatment from Nepali migrant workers in Kabul of Afghanistan.