KATHMANDU, June 12: Banks have reduced their interest rates on loans by an average of 2.31 percentage points in the past one year, while it is still on a declining trend.

KATHMANDU, May 9: Many cooperatives are found to have fallen in financial problems mainly due to issuing loans rampantly to the near and dear ones of their board members.

KATHMANDU, May 7: Despite positive internal and external economic indicators, the business environment remains stagnant, impacting various sectors including real estate. Despite some policy-related reforms, the anticipated progress in the real estate sector has yet to materialize.

KATHMANDU, April 18: The government has approved the Start-up Enterprises Credit Operation Work Procedure 2023. In line with the provisions outlined in the current fiscal year's budget, the government is set to disburse loans to start-up enterprises at an interest rate of three percent.

KATHMANDU, April 15: The government has not been able to collect revenue as per the target due to slowdown in economic activities, poor capital expenditure, revenue leakage, decrease in foreign trade etc. The inability to achieve the revenue target has set challenges for managing government expenditure, leading to increased reliance on  internal and external loans.

KATHMANDU, March 16: While unemployment is increasing in the country, there is a growing interest in startups among the youth. Young people are drawn to startups as they can avail loans at concessional rates to initiate ventures.

KATHMANDU, Feb 7: The loans extended by banks and financial institutions to the private sector increased by 4.9 percent in the first six months of the current fiscal year, according to the Nepal Rastra Bank (NRB).

Bhaktapur, Nov 23: Finance Minister Dr Prakash Sharan Mahat today said no one is exempted from paying loans.

KATHMANDU, Oct 31: Foreign Minister NP Saud, who is currently on a week-long visit to the US, and US Secretary of State Antony Blinken have held discussions about the United States providing a loan of more than Rs 16.5 billion to support the development of small and medium enterprises (SMEs) in Nepal.

KATHMANDU, Oct 6: Nepal Rastra Bank (NRB) has raised the ceiling on the maximum limit on the loans against shares to Rs 200 million from the existing Rs 120 million.

KATHMANDU, July 19: The government took loans worth Rs 255.99 billion in the last fiscal year that ended on Sunday.

KATHMANDU, July 10: The Department of Cooperatives (DoC) has asked the cooperatives to send the details of the individuals and institutions that have taken loans worth over Rs 10 million from the cooperatives concerned.

KATHMANDU, June 10: The credit flow from banks and financial institutions (BFIs) to the private sector increased 3.3 percent in the first 10 months of the current fiscal year.

KATHMANDU, May 7: Although commercial banks of Nepal have started offering easy loans to their clients due to sufficient amounts of loanable funds, they are unable to raise the demand for loans from the borrowers.

KATHMANDU, May 2: The International Monetary Fund (IMF) will be providing US $52.80 million (equivalent to Rs 6.90 billion) under its Extended Credit Facility (ECF) to Nepal.

KATHMANDU, April 16: Nepal Electricity Authority (NEA), a state-owned utility, has matured loans of 63.7 billion rupees. The NEA has taken loans through the government to build various hydropower projects.

KATHMANDU, April 13: After immense pressure and facing a slowdown in their businesses, Nepali commercial banks have finally shown some indication of reducing the interest rates on loans.

KATHMANDU, April 3: Nepali commercial banks have taken loans of Rs 59.17 billion from foreign companies in the past five years.

KATHMANDU, March 27: The government is set to call for proposals from interested startups businesses to avail  collateral free loans with finalizing the working guideline on the matter.

KATHMANDU, March 2: Banks and financial institutions (BFIs) have drawn the government’s attention toward the menace that they have been sustaining from various sectors at present.

KATHMANDU, Feb 23: Nepal Rastra Bank (NRB) has tightened the lending of loans from microfinance companies. Now borrowers who have taken loans from any bank will not get loans from microfinance companies. In addition, NRB has made such arrangements that no one can take loans from more than one microfinance company.

KATHMANDU, Feb 21: Executive Director of Nepal Rastra Bank (NRB) Revati Prasad Nepal has said that the central bank is going to introduce a provision where one person cannot take loans from multiple microfinance institutions.

KATHMANDU, Jan 21: Nepal Rastra Bank (NRB) has stepped up efforts to bar banks and financial institutions (BFIs) from showing the capitalized interest during the moratorium period of outstanding loans in their profit account.

KATHMANDU, Dec 31: The cooperatives of Nepal have fallen into financial crisis one after another due to their excessive investment in real estate, automobiles and other unproductive businesses.

KATHMANDU, August 28: NMB Bank on Sunday signed an agreement with British International Investment to receive a loan of USD 25 million.

KATHMANDU, August 17: The Department of Cooperatives (DoC) has barred cooperatives from issuing loans in real estate businesses, citing soaring liquidity crisis and increasing number of cooperatives falling into problems due to their excessive exposure on realty investment.

KATHMANDU, May 27: Cooperatives now have to invest at least 51 percent of their issued credit on production businesses, abiding with the unified directives endorsed by the Department of Cooperatives (DoC) on Thursday.

KATHMANDU, April 16: Banks provided interest-subsidized loans worth Rs 215.76 billion in the first eight months of the current fiscal year.

KATHMANDU, March 15: The Asian Development Bank (ADB) is injecting US $ 932 million in 2022 in Nepal - around four-folds of the amount disbursed in 2021.

KATHMANDU, March 14: Commercial banks have collected deposits worth Rs 14 billion in the past three weeks while they provided loans worth Rs 10 billion during the same period.

KATHMANDU, Feb 23: Nepal Rastra Bank (NRB) has extended the deadline for the banks and financial institutions (BFIs) to inject investment in specified sectors by up to two years.

KATHMANDU, Feb 12: Nepal Rastra Bank (NRB) permitted the banks and financial institutions (BFIs) to issue loans of up to Rs 500,000 to their customers via digital platforms.

KATHMANDU, Jan 22: The commercial banks have raised their base interest rate on loans by more than two point percent effective from mid January, citing an increase in their expenses for the interest on deposits.

KATHMANDU, Dec 17: Commercial banks issued additional loans worth Rs 360 billion in the first five months of the current fiscal year, which was more than 16 times their deposit collections over the period.

KATHMANDU, Dec 16: Banks and financial institutions (BFIs) have been barred from altering their interest rates on fixed-rate loans without receiving the consensus of the borrowers.

KATHMANDU, Nov 20: The Employees Provident Fund (EPF) is allowing its depositors to borrow up to Rs 5 million to purchase land.

KATHMANDU, Nov 13: Nepal Rastra Bank (NRB) has started on-site investigations on the land scam in which Kumari Bank has been accused of issuing loans against the counterfeit land ownership certificate.

KATHMANDU, Oct 11: Nepal Rastra Bank (NRB) has asked the bank and financial institutions (BFIs) to take forward into auction the collateral assets of those borrowers only if the loan amount remains overdue for six months and more.

KATHMANDU, Sept 28: The amount of loans provided by the banks and financial institutions (BFIs) has increased compared to the last fiscal year. Most loans have been flown to wholesalers and retailers.

KATHMANDU, July 9: The Insurance Board (IB) has barred buyers of life insurance policies from surrendering before settling the premium payments for three years.

KATHMANDU, June 9: The second wave of COVID pandemic has affected the credit investment of banks. Although during the onset of the second wave of the pandemic it did not seem to have much effect, the problem has started to become visible in recent days.

KATHMANDU, Dec 15: A rising trend in non-performing loans (NPLs) of commercial banks point to some emerging vulnerabilities in the banking sector, concludes a recent report of the World Bank.

KATHMANDU, Sep 1: As many as 300 people from Sarlahi who have taken loans from Shyam Krishna Kalawar Sah, a local loan shark, have arrived in Kathmandu seeking justice from government authorities after Sah “terrorized” them by preparing false documents.

KATHMANDU, July 16: Nepal Rastra Bank (NRB) has extended the deadline for the repayment of principal, interest and installment of loans by an additional 15 days.

KATHMANDU, June 19: Development Bankers Association Nepal (DBAN) has urged the Nepal Rastra Bank (NRB) to allow 'B' class development banks to deduct loans floated to agriculture sector in excess to the regulatory requirement in the credit to core capital plus deposit (CCD) ratio.

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.

World Bank must change course

April 15, 2019 01:05 am

BRUSSELS – Critics have called new World Bank president David Malpass an arsonist in charge of a fire department, because of past comments he made on Bank salaries and loans to China. But it’s far more important to focus on improving progress toward the World Bank’s core mission of ending extreme poverty.

KATHMANDU, Feb 7: Private sector leaders have sought the intervention of Nepal Rastra Bank (NRB) to reduce the skyrocketing lending rates of bank and financial institutions (BFIs) that, they say, is further eroding competitiveness of the country’s manufacturing sector.

KATHMANDU, Feb 1: Nepal Rastra Bank (NRB) has sought details of loans that bank and financial institutions (BFIs) have floated until mid-January under subsidized loan schemes.

KATHMANDU, Jan 20: The government has disbursed  Rs 758.2 million in interest subsidy for loans floated under a concessional credit scheme for certain agricultural and livestock businesses.  It bears five percent of the interest for loans disbursed by banks and financial institutions.