KATHMANDU, Dec 28: The Supreme Court (SC) has ordered the government and Nepal Rastra Bank (NRB) not to bar businessman Ajeya Raj Sumargi from withdrawing the USD 7 million that he had brought from foreign banks and has been blocked at the central bank for lack of clear sources for the money.
KATHMANDU, Dec 27: Nepal Rastra Bank (NRB) has revised the base rate calculation formula for bank and financial institutions (BFIs) that will lower interest rates on loans by at least 0.75 percentage point.
KATHMANDU, Dec 19: Interest rate war is escalating in the banking sector as bigger commercial banks have also joined the race by raising their fixed deposit rates. They have argued that such a move was necessary to prevent their deposits from flowing toward smaller banks which are offering higher interest rates.
KATHMANDU, Dec 12: Concerned by soaring interest rates on bank loans, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has asked Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal to address the effects of soaring interest rates on deposits on lending rates.
KATHMANDU, Nov 7: Banks and financial institutions (BFIs) will now be allowed to provide only 50 percent loans for the purchase of automobiles for personal use. Issuing a new circular on Tuesday, Nepal Rastra Bank lowered the limit of the loan-to-value ratio in the purchase of autos to 50 percent from the existing 65 percent.
KATHMANDU, Oct 6: Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal has warned that the loosely-regulated cooperatives that mobilize deposits are the biggest threats to the financial sector stability of the country.
KATHMANDU, Sept 28: Nepal Rastra Bank (NRB) has unveiled unified working procedure related to interest subsidy for concessional loans, paving the way for unemployed educated youths, returnee migrant workers, women entrepreneurs, Dalits and earthquake victims, among other targeted groups, to borrow money from bank and financial institutions at cheaper interest rates.
JANAKPUR, Sept 2: The Minister for Internal Affairs and Law for Province 2, Gyanendra Kumar Yadav protested in front of Nepal Rastra Bank's Janakpur branch office after the state owned bank declined to abide by the provincial government's decision.
KATHMANDU, Sep 1: Nepal Rastra Bank (NRB) has paved the way for hospitals, which make earnings also in foreign currency, to acquire loans in foreign currency from banking institutions. Issuing a circular on Friday, the central bank told commercial banks that they can now extend loans in foreign currency to hospitals for the purpose of import.
KATHMANDU, Aug 31: The value of Nepali rupee against the US dollar has plunged to a new low. The rupee fell to 113.49 against the US dollar, according to the exchange rate fixed by Nepal Rastra Bank (NRB) for Friday. The rate was Rs 113.25 on Thursday.