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Nov 27,2014
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27/11/2014
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In a bid to provide single-window service for investors the meeting of the Industrial Promotion Board today decided that companies established with foreign investment can purchas...  [more...]
Non-performing loans (NPL) of commercial banks rose by 0.92 percentage points in the first quarter this fiscal year, thanks to high NPL level in two private sector banks—Gr...  [more...]
Non-performing loans (NPL) of commercial banks rose by 0.92 percentage points in the first quarter this fiscal year, thanks to high NPL level in two private sector banks—Gr...  [more...]
Nepal Investment Bank Limited (NIBL) has received the go-ahead from the Securities Board of Nepal (Sebon) to launch its first mutual fund scheme named NIBL Samriddhi Fund-1. The ...  [more...]
Twenty-seven out of 30 commercial banks earned profits in the first quarter of the fiscal year. The loss-makers include Grand Bank, Prabhu Bank and Civil Bank. The banks eared...  [more...]
The profit of commercial banks increased by 17.57 per cent to Rs 4.98 billion during the first quarter of the current fiscal 2014-15, compared to the corresponding period of the ...  [more...]
Nepal Rastra Bank (NRB) has called back its team from H&B Development Bank, handing over the reins of the class ´B´ bank to a new team of promoters. NRB Spokes...  [more...]
The World Bank (WB) has clarified that former director of Nepal Rastra Bank (NRB) Rajan Singh Bhandari, who was allegedly involved in irregularities in the Second Financial Secto...  [more...]
Citizens Bank International has been focusing on acquisition to increase its capital base in contrast to the current trend among banks and financial institutions (BFIs) to go for...  [more...]
Gold and silver prices continued to tumble this week as their price went down by Rs 700 and Rs 10 per tola over the week. The market opened on Sunday with gold price fixed at ...  [more...]
A total of 914,971 units of physical shares of 35 companies including commercial banks have been brought into 'Demat system' so far since the launching of this system in ...  [more...]
A total of 914,971 units of physical shares of 35 companies including commercial banks have been brought into 'Demat system' so far since the launching of this system in ...  [more...]
To overcome the problem of financing in large scale infrastructure projects, Nepal Rastra Bank (NRB) has proposed to form ´Infrastructure Development Bank´ in the new...  [more...]
RUPAK D SHARMA Nepal Rastra Bank (NRB) has postponed plans for phase-wise roll out of latest international regulatory frameworks aimed at strengthening the shock absorbing capac...  [more...]
Securities Board of Nepal (Sebon), the securities market regulator, has made amendments to Securities Registration and Issue Regulation to pave the way for international financia...  [more...]
India is ready to legalise the use of 500- and 1,000-rupee Indian currency (IC) notes in Nepal, The Hindustan Times reported in its online edition on Friday. Such a move would...  [more...]
SAGAR GHIMIRE Nepal Rastra Bank (NRB) has decided to send two troubled finance companies -- Himalaya Finance and Crystal Finance -- into liquidation. The board meeting of the...  [more...]
The Nepal Rastra Bank (NRB) has allowed banks and financial institutions (BFIs) with institutional and foreign investment to fix the number of their board members in proportion t...  [more...]
The allotment of ‘NMB Sulav Investment Fund-I’ -promoted by the NMB Bank and operated by Bank’s subsidiary NMB Capital Limited has been done.According to the of...  [more...]
Nepal Stock Exchange on Sunday suspended the trading of 59 companies for their failure to pay annual renewal fees, but lifted the suspension on two companies after they paid the ...  [more...]
The allotment of ‘NMB Sulav Investment Fund-I’ -promoted by the NMB Bank and operated by Bank’s subsidiary NMB Capital Limited- took place today. According t...  [more...]
Insurance Board (IB), the insurance sector regulator, has made a last ditch attempt to inject new lease of life into troubled NB Insurance, as it has handed over the management o...  [more...]
Nepal Rastra Bank (NRB) has introduced a new provision, allowing domestic firms to buy software from India and pay in US dollar by opening Letter of Credit (LC) in banks and fina...  [more...]
Nepal Rastra Bank (NRB) has planned to hand over management of H&B Development Bank to its main promoters after its term expires at the end of November. The central bank h...  [more...]
Should the central bank be allowed to continue performing two conflicting roles of setting the inflation target and measuring changes in consumer prices as well? This question...  [more...]
Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to issue good-for-payment cheques only after transferring the cash mentioned in the cheque to a diffe...  [more...]
Proparco Group , a French Development Financial Institution, has shown its interest to make an investment in Nepal, particularly in the agriculture, sustainable tourism, educatio...  [more...]
Police have arrested former chief executive officer and director of H&B Development Bank on charges of fraud. A team deployed from the Metropolitan Police Crime Division a...  [more...]
The turnover on the Nepal Stock Exchange (Nepse) plunged on the first two days of trading after Dashain on Wednesday and Thursday. The turnover which hovered around Rs 400 millio...  [more...]
The Nepal Stock Exchange (Nepse) formally embraced the paperless system of stocks trading on Wednesday, with first transactions of the dematerialised shares of commercial banks. ...  [more...]
The average interbank-lending rate of the banks has gone up 1 percent for the first time in last 18 months. According to the data of Nepal Rastra Bank (NRB), the weighted average...  [more...]
Commercial banks have been investing more funds in the government’s Treasury Bills to maintain their interest rate spread below five per cent as per the Nepal Rastra Bank (...  [more...]
The amount of surplus liquidity in the banking system has come down to Rs 13 billion as the extra cash that the central bank had absorbed from banks and financial institutions (B...  [more...]
At a time when the banking sector is facing liquidity surplus , deposit collections of banks and financial institutions has decreased by 0.6 percent (Rs 7.87 billion) in the firs...  [more...]
NMB Bank, Pathibhara Development Bank and Bhrikuti Development Bank on Monday signed a merger agreement. As per merger bylaws, they are required to complete their union within th...  [more...]
Nepal Stock Exchange (Nepse) jumped 28.81 points to close at 912.32 points last week. The turnover, however, fell 16.53 percent to Rs 1.55 billion. The market opened at 883.51...  [more...]
With private commercial banks highly concentrated in urban areas, non-banking financial institutions such as micro finance financial institutions (MFFIs) along with licensed coop...  [more...]
Banks and financial institutions (BFIs) will now have to divide their shareholders into two groups only, promoters and public, and end the practice of splitting their promoters i...  [more...]
NRB has cancelled the licence of United Development Bank based in Jitpur, Bara after the Appellate Court, Hetauda initiated liquidation proceedings against it by appointing a liq...  [more...]
SAGAR GHIMIRE With liquidity problem showing no sign of subsiding, Nepal Rastra Bank (NRB) is collecting deposit of Rs 10 billion from different banks and financial institutions...  [more...]
Moneygram, a money transfer company, has launched an offer on the festive occasion of Dashain and Tihar. Issuing a statement, the company said every individual will receive a sty...  [more...]
Here’s another good news for the market. The Securities Board of Nepal (Sebon) has given the final approval to  NIBL Capital (Merchant bank of Nepal Investment Bank Li...  [more...]
Though the larger commercial banks have evoked mixed reaction among the share investors when it comes to the dividend they have declared for the last fiscal year, most of the mid...  [more...]
SAGAR GHIMIRE Though share transactions of commercial banks in demat mode is set to start in just sixteen days, very few investors have opened their demat accounts so far. Ne...  [more...]
SAGAR GHIMIRE Though share transactions of commercial banks in demat mode is set to start in just sixteen days, very few investors have opened their demat accounts so far. Ne...  [more...]
Nepal Rastra Bank Governor Yuba Raj Khatiwada has said that the government was drafting strong legislations against financial offences which are expected to enhance governance an...  [more...]
A liquidity-mopping instrument called ‘term deposit’ launched today by Nepal Rastra Bank (NRB) was oversubscribed by almost 200 per cent. This is the second time the ...  [more...]
Bankers have urged the government to end a provision that requires investors, who hold less than 5 percent promoter shares in any banks and financial institutions (BFIs), to seek...  [more...]
The Kathmandu Valley has recorded the most number of scams involving savings, credit and multi-purpose cooperatives over the recent years. Of the total 12, 962 cases of cooper...  [more...]
Prabhu Bank Ltd -- a merged entity of Kist Bank, Prabhu Bikas Bank, Gauri Shankar Development Bank and Zenith Finance -- has started integrated operation five months after the si...  [more...]
Claims pertain to 104 sub judice cases > 63 cases settled in FY 2013/14; claim amount Rs 5.13 billion > Highest claim amount Rs 2.51 billion > Most fraud cases relate...  [more...]
Nepal Rastra Bank (NRB), the banking sector regulator, has barred Grand Bank from collecting fresh deposit and extending new loans, as the class ‘A’ financial institu...  [more...]
Nepal Rastra Bank (NRB), the banking sector regulator, has barred Grand Bank from collecting fresh deposit and extending new loans, as the class ‘A’ financial institu...  [more...]
NMB Bank’s subsidiary NMB Capital has said that its debut mutual fund- ‘NMB Sulav Investment Fund-I’- will be opened from Ashoj 2 to the public for subsricption...  [more...]
Nepal Rastra Bank (NRB) has taken prompt corrective action (PCA) against Grand Bank, barring it from opening additional deposit accounts and providing loans as its capital adequa...  [more...]
Global IME Bank Ltd has announced 25 percent dividend to its shareholders from the net profit that it earned in 2013/14. According to a bank statement, the meeting of the boar...  [more...]
Nepal Rastra Bank (NRB) has been reluctant to issue the “deposit collection” instrument for the second time as its suspects an interest-rate cartel between banks and ...  [more...]
Had banks been apathetic to providing loans to purchase vehicles, the automobile market would not have been as energetic as it is today. The high level of liquidity with banks ha...  [more...]
Citizens Bank International Ltd has announced 18.95 percent dividend to its shareholders. According to a statement from Citizens Bank, a meeting of its board of directors (BoD) h...  [more...]
Nine savings and credit cooperatives and a multipurpose cooperative have merged to become “Hamro Sagarmatha Multipurpose Cooperative Limited”. The new entity started ...  [more...]
Nabil Invest as the fund manager of Nabil Balanced Fund-I (NBF-I) has announced 14 percent cash dividend to the unit holders of NBF-I from the distributable profit post-audit of ...  [more...]
In line with Nepal Rastra Bank (NRB)´s directive, state promoted commercial banks have driven up their efforts to reinstate branches that were displaced during the decade-l...  [more...]
The government has been preparing to send a proposal to the Cabinet to allow the Asian Development Bank (ADB) to issue local currency bonds worth Rs 50 billion. On May 20, the AD...  [more...]
Traders worried about the Nepal Rastra Bank (NRB)’s recent directive continued to offload shares, causing the Nepal Stock Exchange (Nepse) index to take a massive drop of 3...  [more...]
Fewer depositors are parking funds in fixed deposit accounts these days as return on these products has been falling due to excess liquidity in the banking sector. Money parke...  [more...]
Profit growth rate of commercial banks fell massively in the last fiscal year, as two class ‘A’ financial institutions booked a net loss of Rs 1.85 billion, while fou...  [more...]
Profitability of commercial banks took a beating last fiscal year, as capital fund bulged, while earnings grew moderately. Average return on equity (RoE) — a measure to ...  [more...]
Commercial banks saw their profit growth rate fall last fiscal year. Net profit growth rate of 28 commercial banks that have published their unaudited quarterly reports stands...  [more...]
After failing to address the situation of excess liquidity in the banking system with existing monetary instruments, Nepal Rastra Bank (NRB) has introduced “deposit collect...  [more...]
Agriculture Development Bank Limited (ADBL) has been forced to cancel internal examination for the promotion of staffers due to the protest launched by the UCPN (Maoist)-aligned ...  [more...]
Nepal Rastra Bank (NRB) is mopping up Rs 20 billion from the banking sector next week using a new instrument called ‘term deposit’, as the central monetary authority ...  [more...]
Rastriya Beema Company Limited (RBCL), the new life insurance company formed by splitting Rastriya Beema Sansthan (RBS) into life and non-life insurance companies, has finally st...  [more...]
Investors in the stock market are yet to receive a total of Rs 475.6 million for the shares they sold as their brokers have not finished clearing the transactions. As of Monda...  [more...]
Nepal Stock Exchange (Nepse), for the first time in its history, has suspended a company from trading its shares for leaking price sensitive information to the public. Nepse, ...  [more...]
Bars financial institutions defying to raise capital from collecting deposit‚ extending loan Finance companies that have not met the minimum regulatory capital requireme...  [more...]
Banks and financial institutions (BFIs) from now on will not have to seek Nepal Rastra Bank (NRB)’s permission to extend foreign exchange facility of up to $10,000 per year...  [more...]
Nepal Rastra Bank (NRB), the central bank, has reduced the interest rate on general refinancing by a percentage point to four per cent, with effect from today, providing banks an...  [more...]
The Asian Development Bank (ADB), the multilateral donor agency, has proposed to issue local currency bonds worth Rs 50 billion mainly to finance various hydropower projects here...  [more...]
Kriti Capital and Investment Ltd today launched Kriti Portfolio Tracker Software, a programme developed by the company with an aim to help investors keep track of their share tra...  [more...]
Nepal Rastra Bank has directed all A, B, and C class financial institutions to issue machine-readable chequebooks encoded with Magnetic Ink Character Recognition (MICR), a system...  [more...]
One percentage point rise in flow of bank loans can push up country’s economic growth by 0.4 percentage point in the long run, says a latest study, which, according to expe...  [more...]
Nepal Rastra Bank (NRB) has planned to launch a series of instruments to mop up excess liquidity from the market and deposit collection is the first on its list. The move is in l...  [more...]
South Asian nations have agreed to establish a Saarc Development Bank. The bank is expected to finance infrastructure development in the region, which is grappling with poor infr...  [more...]
With the country moving toward federal setup, Mega Bank on Wednesday it was planning to open regional offices in at least four-five places. “We also have a strategy to v...  [more...]
The Ministry of Finance (MoF) is soon initiating the process of bringing in a strategic partner at Nepal Bank Ltd (NBL) by offloading a certain portion of stake owned by the stat...  [more...]
Banking and Financial Institutions (BFIs) have expressed their helplessness in helping the government enforce the National Building Code (NBC) in the country citing poorly functi...  [more...]
Economists have said that the budget for fiscal year 2014/15 failed to allocate resources efficiently. Speaking at a program organized jointly by the Nepal Economic Associatio...  [more...]
Commercial banks’ lending to the agriculture sector has surged, but that to hydropower sector is still on the lower side.As of the 11th month of the last fiscal year, banks...  [more...]
Nepal Rastra Bank (NRB), the central monetary authority, today instructed banks and financial institutions (BFIs) to meet the new regulatory requirement on the portion of deposit...  [more...]
Nepal Rastra Bank (NRB), the central monetary authority, has slightly tightened the Monetary Policy for fiscal year 2014-15, while incorporating provisions to expand credit for t...  [more...]
Finance Minister Dr Ram Sharan Mahat has said that the budget estimates for Fiscal Year 2014/15 comes with the goal of economic growth through reforms in overall economic sector in...  [more...]
Nepal Rastra Bank (NRB), the central monetary authority, today introduced Unified Directives 2014, which, among others, prevents individuals from acquiring loans to purchase promot...  [more...]
 Rise in the number of cases related to banking crimes and money laundering is becoming a serious problem for government agencies. According to the annual progress report of ...  [more...]
People will no longer have to browse the internet or visit the stock broker´s trading floor to get the market information as they would be able to watch live update of the bo...  [more...]
The government has unveiled Rs 618 billion budget for the fiscal year 2014/15 on Sunday evening. Minister for Finance Ram Sharan Mahat is presenting the budget, first full-fledged...  [more...]
BIRATNAGAR/POKHARA/BIRGUNJ/NEPALGUNJ: The budget for the new fiscal year presented by Finance Minister Ram Sharan Mahat at the Legislature Parliament in the Capital today has drawn...  [more...]
Riding on a strong performance of the agriculture and service sectors, the country’s economic growth recorded a six-year high. The country’s economy is estimated to hav...  [more...]
The government said Thursday that liquidity surplus is becoming a major problem for the country, and an improvement in the environment for investment is urgently needed to soak up ...  [more...]
Nepali industries failed to utilize even half of their installed capacity in the first six months of the current fiscal year, according to a study report unveiled recently by the N...  [more...]
Nepal Stock Exchange (Nepse) posted a whopping growth of 29.37 points last week to close at 972.85 points. The benchmark index, which opened at 943.48 on Sunday, posted gains throu...  [more...]
Bankers have urged Nepal Rastra Bank (NRB) to review its method of calculating the spread rate cap of the commercial banks. According to a provision of the Monetary Policy of 2013...  [more...]
PALPA: Despite a proliferation of banks and financial institutions ( BFIs ), farmers are still struggling to get bank loans, and are forced to take credit from traditional money le...  [more...]
Finance Companies are facing increased non-repayment of loans with the Non-Performing Loan (NPL) as of mid-May reaching 16 percent from 9.3 percent as of mid-May 2013, according to...  [more...]
The International Finance Corporation (IFC), a private sector lending arm of the World Bank, will soon issue request for proposals (RfPs) to hire a new fund manager and resume ope...  [more...]
The government is preparing to set up an all-powerful high-level rehabilitation commission , which will recover general people’s deposits stuck in troubled cooperatives. The...  [more...]
Asian Development Bank ( ADB ) has once again expressed interest in issuing Nepali rupee bonds. In a letter to the Finance Ministry, the multilateral lender has asked about prereq...  [more...]
The Financial Action Task Force (FATF) has removed Nepal from its watch-list, indicating that the international body that creates standards for fighting financial crime is satisfie...  [more...]
Banks and financial institutions have been able to expand their lending to the agricultural sector by 23.4 percent in the 10 months of the current year 2013/14. According to a lat...  [more...]
Banks and financial institutions have been able to expand their lending to the agricultural sector by 23.4 percent in the 10 months of the current year 2013/14. According to a lat...  [more...]
The central bank may soon have the authority to expedite the process of liquidating banks and financial institutions (BFIs), lay recommendations to bail out ‘too big to fail&...  [more...]
Despite efforts of the Nepal Rastra Bank (NRB) to expand financial services to remote parts of the country, Kathmandu, the capital city, continues to dominate other parts of the co...  [more...]
Civil Bank Ltd has bagged the ‘Innovation Award’ from MasterCard. According to a statement issued on Monday, the bank received the award under ‘Debit Card’ ...  [more...]
NIC Asia Bank has opened 14 branch offices, including four in Kathmandu, across the country. According to the bank, the newly opened branches outside the Valley are in Chandragadhi...  [more...]
Drawn-out amalgamation talks between the five grameen bikas banks in the country have finally borne fruit, and these financial institutions, which specialize in providing small loa...  [more...]
Bankers have requested the Nepal Rastra Bank (NRB) to adopt flexible policy on loan loss provisioning for certain loans given to government entities. Citing the recent problem ove...  [more...]
Registration of four-wheelers increased by 19 percent in the first ten months of fiscal year 2013/14 compared to figures of the same period of 2012/13. Statistics of the Departmen...  [more...]
Remittance inflow in the first ten months of the current fiscal year has surpassed the total amount of remittances received during last fiscal year. Inflow of remittance grew by 29...  [more...]
Credit expansion of banks and financial institutions contracted by 1.63 per cent in the first 10 months of the current fiscal year, as lack of business opportunities and little gro...  [more...]
Standard Chartered Bank, Nepal organised a knowledge sharing seminar on RMB usage on Tuesday. The seminar was led by Frankie Shu On Au, global head - RMB Products from Standard Cha...  [more...]
Propelled by the optimism of the upcoming budget, the bull run at the share market continued, with the Nepal Stock Exchange (Nepse) index crossing the 900 point mark to rest at 904...  [more...]
Bank of Kathmandu (BoK) Ltd and three financial institutions — International Leasing and Finance Co Ltd, Shree Investment and Finance Co Ltd, and Nepal Express Finance Ltd &m...  [more...]
Deputy Prime Minister and Home Minister Bam Dev Gautam has come down heavily against cooperatives fleecing poor people. “Cooperatives, particularly the credit and saving coop...  [more...]
Prospects of a pro-market budget fuelled investor confidence as the Nepal Stock Exchange (Nepse)’s index recorded an upsurge to rest at 879.33 points for the week — Jun...  [more...]
IFC, a member of the World Bank Group, will provide a $ 5 million trade finance facility to Siddhartha Bank. This will boost Siddhartha Bank’s international trade business an...  [more...]
 A total of 22 new banks and financial institutions have been created after merger of 55 banks and financial institutions as per the call by Nepal Rastra Bank (NRB). They wer...  [more...]
The Department of Cooperatives has for the first time prepared a regulation that paves the way for those living below the national poverty line to establish multi-purpose cooperati...  [more...]
Governor and deputy governors of the Nepal Rastra Bank (NRB) could be barred from joining any banks and financial institutions (BFIs) after their retirement. Officials from the Fi...  [more...]
The first acquisition in the Nepali banking sector is likely to be delayed as Nepal Rastra Bank (NRB) has asked the two concerned financial institutions that had initiated the acqu...  [more...]
The Nepal Rastra Bank (NRB) team that took over the management of troubled H&B Development Bank has said it will forward the claims of those submitting fraudulent good-for-paym...  [more...]
Global IME Bank has said it will issue additional shares to general public as instructed by the central regulatory bank to maintain 30 percent holding of the public at the bank. T...  [more...]
Bankers and financial experts have said that the upcoming budget should create conducive environment for boosting investment to resolve the problem of excessive liquidity seen in t...  [more...]
Automobile imports have started to pick up in the recent days, thanks to a relatively stable political situation and easy availability of auto loans. The growing four-wheeler marke...  [more...]
Nepal Rastra Bank (NRB) took over the management of crisis-ridden H&B Development Bank on Wednesday for failing to comply with its directives reviving memories of the good-for-...  [more...]
Nepal Stock Exchange (Nepse) is soon recommending the securities market regulator to lift a ban put on share transaction of two prominent stock market players, as the row over owne...  [more...]
Against the trend of high deposits and slow lending for the past couple of months, loan expansion of the commercial banks have inched up in last two months while the deposit mobili...  [more...]
The government has requested the Asian Development Bank (ADB) to resume providing grants to Nepal as it is still in transition and though its repayment capacity may have improved, ...  [more...]
With the market mostly bearish throughout the week, the Nepal Stock Exchange (Nepse)’s index took a dip by 1.13 points or 0.13 per cent to rest at 852.06 points from May 18 t...  [more...]
Over 2,000 Nepalis leave the country each day seeking jobs abroad. The growing trend of migration of Nepali workers to different countries has resulted in an acute labour crunch in...  [more...]
Shareholders of Agricultural Development Bank Ltd (ADBL) will receive 31.58 per cent dividend from the bank’s first ever dividend payout. The annual general meeting of the b...  [more...]
Nepal Trust Office (NTO) has made public the list of shares once registered in the names of late King Birendra and his family members of Nabil Bank Limited, Hotel de l’ Annap...  [more...]
Nirmal Pradhan and Shankar Kumar Shrestha — the duo who sold non-transferable shares of Nepal Bangladesh Bank — have claimed to have compensated investors after being d...  [more...]
The board of Grand Bank decides to appoint new Chief Executive Officer (CEO) on Wednesday after three months of the resignation of Sudheer Khatri. The board meeting of the Grand B...  [more...]
Nepal Investment Bank Ltd (NIBL) together with the Nepal Army Welfare Board has initiated Deprived Sector Lending to ex-staff of Nepal Army (NA) through a programme at Itahari Barr...  [more...]
Non-performing loans (NPL) of commercial banks is increasing with their expanding loan portfolio. NPL of commercial banks increased by Rs 7 billion in the first nine month of the ...  [more...]
A high-level probe commission on cooperatives has recommended the government stop issuing new licences in the cooperatives sector across the country. The commission, which submitt...  [more...]
In a first after the central bank introduced the acquisition bylaws, Citizens Bank International Limited is acquiring Nepal Housing and Merchant Finance Limited (NHMFL). The two f...  [more...]
The dividend payout may be less attractive in the coming year, as the profit growth of the biggest dividend paying real sector companies have cooled down in the third quarter. The...  [more...]
After the government’s plan to buy houses and apartment units in Kathmandu for VVIPs, VIPs and other high-ranking officials failed, it has now proposed to rent the property. ...  [more...]
Investors will soon get an opportunity to buy primary shares of Global IME Bank. The bank is planning to issue 352,140 unit shares to the public as Follow-on Public Offering (FPO)...  [more...]
The Nepali rupee rode to an 11-month high against the US dollar on the back of a strong Indian currency following the optimistic Indian election results. Nepal Rastra Bank (NRB) f...  [more...]
Promoters of many troubled cooperatives never invested a penny of their own money but poured billions from public deposits, advance payments and bank loans into dubious housing pro...  [more...]
Net profits of commercial banks grew at a slower pace in the third quarter as interest income took a beating. The banks’ net profits grew 12.32 percent to Rs 14.49 billion, ...  [more...]
The Securities Board of Nepal (Sebon) has directed the Nepal Stock Exchange (Nepse) to reimburse the shares of Nepal Bangladesh Bank (NBB) whose ownership transfer has not taken pl...  [more...]
The growth in profit of commercial banks suffered with the interest income tumbling due to slower expansion of credit, as the third quarter closed in. The banks were able to recor...  [more...]
The Nepal Stock Exchange (NEPSE) listed companies have denied electronic transaction of stocks by affiliating to the Central Deposit System (CDS) and Clearing Ltd. As per the Stoc...  [more...]
 The Securities Board of Nepal (SEBON) has suspended the decision of NABIL Mutual Fund to distribute 5.5 percent cash dividend to the subscribers of NABIL Balance Fund -1. Se...  [more...]
Average spread rate stood at 6.82 percent in the first nine months of the current fiscal year, according to recent statistics published by the Nepal Rastra Bank (NRB). The central...  [more...]
Manual clearance of high-volume customer payment cheques poses a greater systemic risk to the financial system, an assessment of Nepal’s payment conducted by the Nepal Rastra...  [more...]
The number of microfinance development banks has grown three-fold in the last six years, thriving on the wholesale lending provided by the banks’ easy source of funds. At pr...  [more...]
The interoperability between bank accounts might become a reality in the near future as the central bank is mulling a strategy to launch National Payment System (NPS). The system w...  [more...]
The proposed Nepal Rastra Bank (NRB) Act has envisaged increasing the central bank’s paid-up capital . The draft of the proposed Act is currently under discussion at the Fina...  [more...]
ATM or STC cards are used to avert the risk arising from carrying cash. But such cards have also come under the threats in recent days with the rise of fraudsters tracing the data ...  [more...]
Borrowers from financial institutions can be evaluated regarding their repayment capacity and credit worthiness by a rating agency from now on. At present, financial institutions t...  [more...]
Securities Board of Nepal (Sebon) seems to have failed to make the capital market a secure place for minority investors. Delay in resolving the ongoing Nepal Bangladesh (NB) Bank&...  [more...]
Nepal Stock Exchange (Nepse)’s failure to find a suitable consultant to advise it on new automated system for the second time will further delay the trading system upgradatio...  [more...]
Nepal Rastra Bank (NRB) Governor Yubaraj Khatiwada said on Monday that the central bank had adopted a zero tolerance policy against financial crime. Misdeeds in the financial sect...  [more...]
Companies will be able to enlist their shares in the secondary market even without issuing their Initial Public Offering (IPO) if the proposed securities listing bylaws comes into ...  [more...]
Nepal Rastra Bank (NRB) has raised the maximum limit of Indian currency (IC) withdrawal using debit/credit cards in India to IRs 15,000 per day from IRs10,000 earlier. However, the...  [more...]
The pain of excess liquidity might be easing since the pace of lending seems to have sped up as the third quarter approached the end, with the credit growing by whopping Rs 10 bill...  [more...]
Securities Board of Nepal (Sebon) has decided to allow the Citizens Investment Trust (CIT) to work as the issue manager of the Upper Tamakoshi Pvt Ltd (UTKHPL). The apex regulator ...  [more...]
Nepal Rastra Bank (NRB) Governor Yubaraj Khatiwada, today, said that the central bank would not tighten monetary policy to address the problem of liquidity surplus, as it could con...  [more...]
To encourage repayment of old defaulted loans, all three state-run banks have of late announced concession packages targeting small borrowers. Rastriya Banijya Bank (RBB) and Agri...  [more...]
"If the rule poses practical problems‚ NRB will try to accommodate concerns of the banks - Bhaskar Mani Gnawali‚ Spokesperson for NRB " Maintaining interest ...  [more...]
Many banks and financial institutions (BFIs) in the country are supporting cash-strapped borrowers by extending them additional credit line to enable them to repay the old debt, en...  [more...]
NIC Asia Bank is launching debentures worth Rs 400 million at 7.25 per cent interest rate. The bank will issue ‘7.5% NIC Asia bond 2077’ at par value of Rs 1,000. This...  [more...]
The roster of troubled financial institutions has got longer with the central bank declaring Narayani Development (ND) Bank as ‘crisis-ridden’. Chitwan-based Narayani ...  [more...]
Many banks and financial institutions (BFIs) in the country are supporting cash-strapped borrowers by extending them additional credit line to enable them to repay the old debt, en...  [more...]
A high-level government commission formed to launch an inquiry into troubled savings and credit cooperatives today raided the head office of Oriental Cooperative and confiscated tw...  [more...]
Nepal Rastra Bank (NRB) on Sunday introduced ´Banks and Financial Institutions (BFIs) Acquisition Bylaw 2070´, allowing big and robust BFIs to acquire other BFIs with l...  [more...]
Cash-strapped Nepali travellers to India will get much needed respite, as the central bank has hiked the limit on ATM withdrawals from India, along with providing double Indian cur...  [more...]
CDS and Clearing has asked the companies listed on the Nepal Stock Exchange (Nepse) to get the share certificates they have issued to their shareholders digitalized within the next...  [more...]
The Hydroelectricity Investment and Development Company Limited (HIDCL) is preparing to issue ordinary shares worth Rs 2 billion. The second annual general meeting (AGM) of the co...  [more...]
The financial health of Gurkha Bikas Bank seems to have worsened as the troubled financial institution’s portfolio contains 84 per cent bad loans despite central bank’s...  [more...]
Youth and Small Entrepreneurs Self-Employment Fund ( YSESEF ) has failed to disburse loans through banks and financial institutions (BFIS) adequately, while the credit disbursed th...  [more...]
Banks and financial institutions (BFIs) have been investing in treasury bills issued under reverse repo to utilize their excess liquidity, but returns have been declining continuou...  [more...]
The bullish equities have attracted hordes of trading in the stock market, pushing average daily turnover up by more than double in past nine months. The daily turnover at Nepal S...  [more...]
For the first time in the country, electronic share trading began on Tuesday, with two stockbroker companies—Kalika Securities and Trishakti Securities—carrying out tra...  [more...]
Nepal Rastra Bank (NRB) Governor Dr Yuba Raj Khatiwada has warned commercial banks not to siphon off rural money to urban areas. He also said commercial banks were using their bra...  [more...]
The government has ordered Rastriya Banijya Bank, Agricultural Development Bank and Nepal Bank to reopen their branch offices which were displaced during the decade-long conflict. ...  [more...]
The Nepali capital market will be seeing more fund offerings in the near future with five mutual fund managers having filed applications for the approval of their proposed schemes....  [more...]
Despite its small presence, real sector companies have rewarded investors more handsomely than financial institutions (FIs) listed at the stock exchange. Dividend distribution by ...  [more...]
Continuing its upward momentum, Nepal Stock Exchange (Nepse) index last week surged 14.49 to close at 812.11 points. The secondary market, which opened at 798.10 points on Sunday,...  [more...]
 Nepal Stock Exchange (Nepse) planning to raise its capital by issuing public shares. For the purpose, it is planning to seek the government’s approval for demutualizati...  [more...]
Global IME Bank and Commerz and Trust Bank started unified business transactions from Wednesday after their merger. Finance Minister Ram Sharan Mahat inaugurated the transactions ...  [more...]
 Nepal Rastra Bank (NRB) has declared facilities for sick industries , by categorizing them into two groups— industries that can be brought back into operation and those...  [more...]
Deposits of the commercial banks have surged by Rs 26 billion between the end of February till the end of March, while their lending increased only by Rs 5 billion, according to th...  [more...]
Kist Bank and Prabhu Bikas Bank have formally decided to undergo merger. Rameshwor Sapkota, coordinator of the merger committee of Prabhu Bikas Bank, and Bishnu Gopal Shrestha of ...  [more...]
The Insurance Board (IB) has told non-life insurance companies that they have to charge a premium of at least 2.75 percent when insuring the business of banks. The IB said it had...  [more...]
 Nepal Rastra Bank has given the final approval for the merger between Civil Bank Ltd, Axis Development Bank and Civil Merchant Bittiya Sanstha. After the merger, the total p...  [more...]
The subscription rates of the last few public offerings indicate that investors are indifferent towards the credit ratings of the issues. The latest Initial Public Offering (IPO) ...  [more...]
Investors are back in a buying spree, which pushed the stock index above 800 points while pushing market capitalisation up by Rs 17 billion, during the week — March 31 to Apr...  [more...]
The government has paved the way for the International Finance Corporation ( IFC ) to issue local currency bonds in Nepal. The Cabinet on Thursday endorsed the IFC ’s proposa...  [more...]
The capital market regulator has revoked the ban placed on trading of shares belonging to Nirmal Pradhan and party following their commitment to resolve the settlement of the ongoi...  [more...]
Despite initial apprehension, mutual fund managers are gearing up to be rated on their worthiness.The capital market regulator had mandated the mutual fund managers to be rated by ...  [more...]
No trading company has applied for permission to operate a hire-purchase loan company, although it has been more than a month since the central bank introduced the guidelines. Bac...  [more...]
As the deadline for banks and financial institution (BFIs) to sell off their cross-holding approaches, two state-owned BFIs are struggling to find buyers get divest such shares.NID...  [more...]
Deloitte India has identified inadequate staff and lack of appropriate skills with them as common and major problems at the Securities Board of Nepal (Sebon) and the Nepal Stock Ex...  [more...]
NIC Asia Bank has introduced “Home Banking” service, under which customers will be able to open bank account from home. For this, customers have to send an SMS to 4488 ...  [more...]
Share traders will get one-window service — from placing orders to settling the shares traded — provided the central depository system does not hit yet another snag to ...  [more...]
Of late, the rates offered by corporate debentures have shrunk, as evident by the upcoming issue of Nepal SBI Bank, which will provide less than eight per cent for its 10-year bond...  [more...]
Nepal Rastra Bank Governor Yuba Raj Khatiwada said that cooperatives needed to be innovative and design new products as per market demand.Presenting a paper at a programme organise...  [more...]
For the first time since 2007, the World Bank is coming up with a four-year full-fledged country assistance strategy for Nepal. The global lender will launch its Country Assistance...  [more...]
The integrated operation of merged Commerz and Trust Bank Nepal and Global IME Bank is slated to begin from the first week of April. “We have completed almost all the requir...  [more...]
Promoters of troubled cooperatives have not only embezzled billions of rupees depo-sited by common people, but have also cheated customers of their housing projects. Housing proje...  [more...]
The Ministry of Finance (MoF) has forwarded International Finance Corporation (IFC)’s proposal to issue local currency bonds to the Cabinet for approval. If Cabinet endorses...  [more...]
Nepal Ratra Bank (NRB) Governor Yuba Raj Khatiwada has urged foreign investors to put their money in Nepal for better return. Speaking at the Nepal Business Conclave here on Monda...  [more...]
Philippe Le Houérou, the World Bank’s Vice-President for South Asia, is arriving in Kathmandu on Tuesday on a four-day visit. During his stay in Nepal, Le Houé...  [more...]
Nepal Bank Ltd (NBL) has announced ranges of interest rebate to encourage repayment of the old defaulted loans of up to Rs 2.5 million. The borrowers that have borrowed up to Rs 2...  [more...]
As a show of disregard towards regulatory norms, a majority of the listed companies are least bothered about conducting annual general meetings and submitting their quarterly repor...  [more...]
Most of the troubled cooperatives have their chairmen in executive position against the norms, according to the Department of Cooperatives (DEoC). Of the 130 cooperatives against ...  [more...]
The stock exchange has ordered National Hydropower Company (NHPC)’s sparring directors to come to terms regarding the appointment of a share registrar within the next three d...  [more...]
The government is mulling over introducing a new public sector accounting system of international standard in selected ministries from the next fiscal year, to better track spendin...  [more...]
A high-level probe commission formed to investigate troubled cooperatives on Monday confirmed individual depositors’ money worth Rs 9.63 billion put in 130 troubled cooperati...  [more...]
The Nepal Stock Exchange (Nepse) has signed an agreement with international financial analysis company Bloomberg under which it will examine and disseminate information about Nepal...  [more...]
The contracting interest rates coupled with expanding government expenditure seem to be easing the financial institutions’ pain of disposing the surplus funds in the second h...  [more...]
Biratnagar: Life has been harder for Khadga Bahadur Gurung of Biratnagar after he and his family members lost their jobs when the factories they were working in were shut down. Ti...  [more...]
Average base rate and average spread rate of commercial banks have declined moderately in the first seven-month of the current fiscal, a Nepal Rastra Bank report suggests. The l...  [more...]
The Department of Coope-ratives has been thinking of ordering cooperatives to fix a maximum spread rate of 5 percent in line with Nepal Rastra Bank ’s (NRB) directive to comm...  [more...]
Nepal Rastra Bank is launching the second offering of foreign employment bonds for this year despite the scanty subscription of the first batch. The central bank has announced the...  [more...]
Gurkha Bikas Bank is struggling to get back on its feet three years after troubles at the seemingly strong development bank surfaced, despite the central bank’s efforts since...  [more...]
Nepal Rastra Bank’s decision to enforce its regulation allowing only foreign financial institutions to own a stake in Nepali financial institutions is going to force big play...  [more...]
Birgunj: Banks in Birgunj are in shock after a trader fled with his family leaving unpaid loans amounting to Rs 330 million. A number of banks had lent him money without adequate c...  [more...]
A day-long dialogue to settle the issue of non-transfer of ownership of Nepal Bangladesh Bank (NBB) shares sold by prominent investor Nirmal Pradhan ended inconclusively on Sunday....  [more...]
The Nepal Stock Exchange (Nepse) slid marginally by 5.36 points last week.  The market that opened at 811.79 points on Monday fell 11 points on Tuesday. Although the initial ...  [more...]
Ordering stop payment after voluntarily issuing cheques to the bearer will make the account holder liable of getting blacklisted. Any individual or firm that asks a bank or financ...  [more...]
The financial institutions facing problems with disposing excess liquidity have subscribed for the central bank’s latest offering of reverse repo by two times despite the mar...  [more...]
Century Commercial Bank has allotted its ordinary shares to the public. The bank distributed 9.2 million units of ordinary shares to 157,503 subscribers today. Small investors &md...  [more...]
Civil Bank’s special general meeting has given a green signal to its merger with Axis Development Bank and Civil Merchant Finance Company. The special meeting of the bank ye...  [more...]
Nepal Rastra Bank (NRB) has revised inflation target by a marginal 0.5 percent to the average of 8 percent in the mid-term review of Monetary Policy for fiscal year 2013/14. Other...  [more...]
The capital market regulator has asked the stock exchange not to undertake any transaction of the players involved in Nepal Bangladesh Bank share transfer row. Securities Board of...  [more...]
The Nepal Rastra Bank (NRB) is reviewing the monetary policy without major changes to address the issue related to excess liquidity in the banking system. As the central bank prep...  [more...]
The return on investment for shareholders of banks and financial institutions (BFIs) has been on a gradual decline for the last nine months. Shareholders of 27 private commercial b...  [more...]
Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) to appoint information officer at the earliest. The central bank issued the directive after the Nation...  [more...]
The list of troubled cooperatives is on rise. The high-level commission formed by the Ministry of Cooperatives and Poverty Alleviation to probe the operations and possible irregula...  [more...]
The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited will be allotted on March 3 at the office of the commercial bank in Kathmandu, accordi...  [more...]
The amount of margin type loans floated by financial institutions has jumped 23 per cent in the last two fiscal years, as the stock market turns bullish.Although commercial banks s...  [more...]
The number of credit cards issued by commercial banks has risen massively in the past year.According to Nepal Rastra Bank (NRB), 20,278 new credit cards were handed out during the ...  [more...]
The total liabilities of troubled cooperatives under investigation are likely to cross Rs 10 billion. A high-level commission formed by the Ministry of Cooperatives and Poverty All...  [more...]
Global IME Bank and Commerz and Trust Bank have signed the final Memorandum of Understanding (MoU) for merger.Global IME Chairman Chandra Prasad Dhakal and Shovakar Neupane, chairm...  [more...]
After six years, Ram Sharan Mahat is back at the Finance Ministry. And, his appointment as new Finance Minister has cheered the private sector and investors. It’s his pro-ma...  [more...]
Capital market regulator has started a formal investigation into the Nepal Bangladesh Bank (NBB) share ownership transfer scandal from today. The failure of share transfer of some...  [more...]
The amount of reverse repo undertaken to mop up excess money from the financial system in the last seven months is three-and-a-half times higher than the total reverse repos held b...  [more...]
Nepal Bankers´ Association (NBA) has said banks should be left free to decide on whether or not to levy additional service charges, including the charge on Any Branch Banking...  [more...]
Himalayan Bank Limited (HBL) has decided to increase its paid-up capital to Rs 4 billion within the next two years amid rising competition. Its paid-up capital currently stands at ...  [more...]
The Nepal Stock Exchange (Nepse) on Friday directed Nepal Bangladesh Bank (NBB) not to hold its annual general meeting until the problems related to the ownership transfer and clea...  [more...]
The growth rate of deposits held by savings and credit cooperatives took a dive in the first half of the fiscal year. Deposits inched up 1.07 percent compared to a jump of 4.87 per...  [more...]
The Initial Public Offering (IPO) of Ridi Hydropower Development Company has been oversubscribed by 92 times. Bhisma Raj Chalise, CEO of Civil Capital Market - the issue manager f...  [more...]
Banks and financial institutions (BFIs) have been on a merger spree since Nepal Rastra Bank (NRB), the central bank, issued the Merger Bylaws, 2068 (BS), on May 2011. Mergers, NRB...  [more...]
Despite undergoing a prolonged credit demand crunch, commercial banks have been able to register decent growth in net interest income in the first half of the current fiscal year. ...  [more...]
The domestic car market witnessed a significant growth in sales in the first six months of this fiscal year. Automobile dealers say there has been a “steep rise” in dem...  [more...]
Profits of commercial bank s were up 18 percent to Rs 9.38 billion as of the second quarter due to higher interest earnings. Only one out of the 30 commercial bank s in the country...  [more...]
The country’s trade statistics is not that encouraging although the balance of payments (BoP) and foreign exchange reserve are in comfortable position. The overall BoP recor...  [more...]
Ridi Hydropower Development Company Limited’s Initial Public Offering (IPO) of 11.70 lakh units has already drawn 1.15 arba in just two days of its opening. “The IPO h...  [more...]
Representatives of 29 troubled financial cooperatives have reported to the office of the high-level commission formed to launch an inquiry into problematic savings and credit coope...  [more...]
Rastriya Banijya Bank (RBB) has decided to approach multiple institutional investors to offload its stake in Nepal Investment Bank Ltd (NIBL) and Nepal Housing Finance (NHF) after ...  [more...]
All stockbrokers will stop working on behalf of Nirmal Pradhan, a major player at the domestic stock market, from Sunday onwards until ownership of shares of Nepal Bangladesh Bank ...  [more...]
People who have parked at least Rs 1.38 billion in four troubled financial cooperatives may never be able to recover their money, as many borrowers who obtained loans from these in...  [more...]
Nepal Stock Exchange (Nepse) has classified altogether 130 companies as ´A´ class companies at the country´s sole bourse. Nepse has been classifying listed compa...  [more...]
State-owned Hydroelectricity Investment and Development Company Limited (HIDCL) is mulling over launching an ‘equity fund’ to pool money from retail and institutional i...  [more...]
Mega Bank has announced cash reward of Rs 300,000 to anyone giving information that leads to arrest of a fraudster who withdrew Rs 20 million from the account of Tourism Developmen...  [more...]
A proposed act on commodity exchange has envisioned forming a separate exchange market operator for the sector similar to the Nepal Stock Exchange (Nepse).  Apart from empower...  [more...]
To encourage individual and institutional investors to take advantage of the capital market, beed invest has launched an array of schemes. One of the leading portfolio management ...  [more...]
All types of development banks can provide banking services through limited banking outlets from now on. Issuing a circular, Nepal Rastra Bank (NRB) has permitted all types of dev...  [more...]
Nepal Rastra Bank (NRB) has decided to take over the management of Nepal Share Markets and Finance Ltd (NSMF), suspending the existing board, which has failed to rescue the crisis-...  [more...]
Car owners will be seeing a significant drop in their insurance bills from mid-February as the regulator has slashed the insurance premium rates. According to the fresh circular i...  [more...]
The stock market will soon list a sixth hydropower company, as Ridi Hydropower’s public offering has received the green signal from the regulator. Securities Board of Nepal ...  [more...]
Nepal Rastra Bank (NRB) on Tuesday took over the management of Nepal Credit and Commerce Bank (NCC Bank) as the former’s efforts to settle down the tussle between two promote...  [more...]
Average Nepali households are getting to avail cheaper home and auto loans, as the banks struggling with credit demand crunch have slashed the interest rates heavily. Of late, the...  [more...]
Central bank has postponed making electronically readable cheques mandatory for the second time. Issuing a circular, Nepal Rastra Bank (NRB) has directed the financial institution...  [more...]
The government has put state-owned banks and financial institutions (BFIs) out of the jurisdiction of the Public Enterprises Board (PEB) and barred it from appointing their chief e...  [more...]
Kumar Lamsal, the new CEO of Kist Bank, assumed office on Sunday. According to a bank statement, deputy CEO Ashok Sherchan also joined office from Sunday itself. Prior to this, Lam...  [more...]
NIDC Development Bank won’t be able to hand out the promised 133 percent bonus shares as it has not issued public shares yet. As per the Bank and Financial Institution Act (B...  [more...]
Nepal Rastra Bank ( NRB ) has started work on drafting a new version of the Bank and Financial Institution Act (Bafia) prompted by the formation of a new Parliament after the secon...  [more...]
Nepal Stock Exchange (Nepse) slid 2.22 points to close at 781.46 points last week. The secondary market, which opened at 783.68 points on Sunday fell 3.21 points on Monday before g...  [more...]
A year after madding it mandatory for commercial banks (A class) to go through stress testing, the Nepal Rastra Bank (NRB) has extended the compulsory provision to development bank...  [more...]
The textbook theory that weak currency discourages imports seems to have proven true in Nepal’s case, as import growth rate has tapered in the first six months of the current...  [more...]
The primary subscribers of shares of microfinance institutions have seen their initial investment grow by multiple-folds in less than a year, with investors falling for their hands...  [more...]
The government is set to distribute social security allowances through banking system in three more districts from the current fiscal year. The Ministry of Federal Affairs and Loc...  [more...]
The number of troubled financial cooperatives is continuously rising in Kathmandu Valley, raising fears of safety of money parked by various depositors at these loosely regulated f...  [more...]
The government has asked the International Finance Corporation (IFC), which has applied for the issuance of local currency bonds, to specify the size of bonds, interest rate and pr...  [more...]
Almost half of the commercial banks, which announced benefits for their shareholders from the profit generated in fiscal year 2012/13, have preferred to distribute cash dividend ov...  [more...]
Nepal Rastra Bank has started preparing a draft of financial sector development strategy to further promote financial inclusion, modernise payment and settlement system, improve de...  [more...]
Florishing economic activities outside the Kathmandu Valley in the recent years have spurred the growth of lending from banks and financial institutions (BFIs) to the enterprise ou...  [more...]
Development banks and finance companies have started publishing their base rates with some of them reporting a base rate as high as 14 per cent. The base rates of national level d...  [more...]
Financial institutions bid for securities worth Rs 31 billion on the central bank’s new bout of reverse repo.The cash-flushed 20 financial institutions offered Rs 31.4 billio...  [more...]
NIBL Capital Markets Ltd, a subsidiary of Nepal Investment Bank Ltd, has signed agreements with two hydropower companies -- United Modi Hydropower Pvt Ltd and Api Power Company Ltd...  [more...]
Bhuvan Kumar Dahal has been appointed the CEO of Sanima Bank.The meeting of Board of Directors of the bank held on Tuesday appointed Dahal to the post.  He has been handed a ...  [more...]
The current bull market seems to have caught the fancy of investors outside the Capital, as trading outside Kathmandu accounted for one-tenth of the total trading undertaken in the...  [more...]
The Credit Information Bureau (CIB) is soon setting up a separate unit to keep record of various movable assets, like shares and tradable goods, pledged as collateral to obtain loa...  [more...]
Commercial banks ’ credit disbursements have overtaken deposit mobilisation after the Constituent Assembly elections. In the period between November 22 and January 10, banks...  [more...]
The first commercial bank to publish its second quarter financials this season has failed to maintain the spread rate under the regulatory bracket. Citizens Bank International &md...  [more...]
Acting on a decision of the Appellate Court Patan, Nepal Rastra Bank (NRB) has told Himalayan Bank and the Bank of Kathmandu to deposit a sum equivalent to the counter guarantee th...  [more...]
Finance Minister Shankar Prasad Koirala said on Tuesday that the government has adopted a policy aimed at reducing its stake in the state-owned banks to pave the way for efficient ...  [more...]
In line with the international practice, the mutual fund managers and sponsors in the country will now be required to be rated for their credit worthiness by a rating agency. Capi...  [more...]
The central bank will be managing Nepal Bank Ltd (NBL) till the end of the fiscal year. Nepal Rastra Bank (NRB) has decided to stick with the bank till it gets its capital adequac...  [more...]
Nepal Rastra Bank (NRB) has once again postponed letting go of the management of Nepal Bank Limited (NBL) for another six months. The central bank was scheduled to stop looking aft...  [more...]
Most of the Financial Intermediary NGOs (FINGOs) licensed by the Nepal Rastra Bank (NRB) are mulling over the merger option after the central bank came up with a policy to convert ...  [more...]
Half a year has come to pass, yet banks are facing problems disposing the surplus funds profitably due to dwindling demand for credit. The difficulty facing banks in disposing liq...  [more...]
The public oversubscribed the primary issue of Century Commercial Bank by more than 22 times the offered amount. “The final tally of the bank’s Initial Public Offering...  [more...]
While financial institutions are dependent on the capital for deposits, other areas have started to challenge the Valley’s dominance over loan disbursement. Kathmandu area...  [more...]
The high-level commission formed to probe troubled cooperatives on Thursday ordered the promoters of another 25 companies to appear before it and explain their financial status and...  [more...]
Public-oriented debt instruments have failed to tempt general investors as the public possesses less than one-tenth of such bonds issued in the last half decade. In the last five ...  [more...]
 In a move that could cheer customers but annoy banks , the Nepal Rastra Bank (NRB) is planning to prohibit banks and financial institutions from charging service fees to cust...  [more...]
Backed by positive political developments, optimism is back in the capital market. This is what the first half of the current fiscal year has illustrated. With investors on a buyi...  [more...]
Nepal’s economic freedom score fell by 0.3 point to 50.1 this year, as the country failed to curb corruption, make necessary changes to stringent labour laws and ensure inves...  [more...]
Depositors will soon be free from paying any additional service charge or fee to maintain a bank account. Central bank has prepared draft guidelines regarding consumer protection ...  [more...]
In a bid to control exploitation of lower rung employees at banks and financial institutions (BFIs), Nepal Rastra Bank (NRB) is coming up with a guideline on salary of staff member...  [more...]
Average salaries of people employed in public and private sectors went up by 11.7 per cent during mid-November 2012 to mid-December 2013, with employees of banks and financial inst...  [more...]
Pokhara: The 15th Annual General Meeting ( AGM ) of  Machha-puchhre Bank on Monday endorsed a proposal of allowing the bank’s board to merge with any other bank and fina...  [more...]
The Initial Public Offering (IPO) worth Rs 92 crore issued by Century Commercial Bank Limited is likely to oversubscribed by 18 times if the latest information being compiled by th...  [more...]
The launch of new mutual fund schemes worth Rs 1.8 billion has hit a snag as the regulator is planning to impose credit rating of fund managers and sponsors. Siddhartha Capital, N...  [more...]
The government from today started depositing pension funds of retired civil servants throughout the country in their bank accounts. The service was launched by chief secretary Leel...  [more...]
To attract more diverse companies in the capital market, the regulator is ready to allow companies to float shares at a premium price.The proposed amendment of Securities Registrat...  [more...]
Central bank is all set to introduce the eighth round of reverse repo as excess liquidity is still bugging the financial sector.“Nepal Rastra Bank (NRB) will use the instrume...  [more...]
Rastriya Banijya Bank (RBB) has decided to sell to the highest bidder its 5.84 million promoter shares of Nepal Investment Bank Limited (NIBL) and Nepal Housing Finance Company. T...  [more...]
Century Commercial Bank will be launching the last big public offering of a commercial bank from Thursday. The bank will offer 9.2 million units of ordinary shares worth Rs 920 mi...  [more...]
The central bank has opened up exchange facility for the world’s two most expensive currencies — Kuwaiti Dinar and Bahraini Dinar — from now on. Nepal Rastra Ban...  [more...]
Despite more than Rs six billion worth of deposits still stuck at troubled financial institutions, the central bank has yet to take any concrete action to decide on their fate. Th...  [more...]
Kist Bank has appointed a new chief executive, six months after its former CEO resigned following accusations of being involved in insider lending. The bank’s board has appo...  [more...]
Civil Bank has introduced a new product — Mobile Mai Nagad —on the occasion of New Year 2014. This product has a complete range of financial services such as deposit, w...  [more...]
Despite excess liquidity, depreciation of Nepali currency against US dollar, record high trade deficit and continuation of low performance in capital spending, the year 2013, has e...  [more...]
Although commercial banks are battling against the central bank’s decision to contain interest spread at five per cent, their first quarter financials show the net spread to ...  [more...]
Banks and financial institutions (BFIs) have started approaching stock investors for margin lending - loan against share certificates as collateral, thanks to excessive liquidity i...  [more...]
Nabil Bank Limited has decided to offer 40 percent cash dividend and 25 percent stock dividend to its shareholders. The Nepal Rastra Bank has already approved the Nabil board&rsquo...  [more...]
Century Commercial Bank has introduced “Century IPO investment saving deposit account”. The bank said it will provide 6.25 percent interest and the account can be opene...  [more...]
Central Bureau of Investigation ( CIB ) of Nepal Police on Friday arrested Shivaji Ray Yadav, chief executive officer of NIDC Development Bank, on charge of financial crime when he...  [more...]
Shareholders of Nepal Investment Bank Ltd (NIBL) will be receiving 35 per cent dividend from the profit earned by the bank in the last fiscal year. The largest bank in terms of ca...  [more...]
The government has planned to partially implement the International Financial Reporting Standards (IFRS) to strengthen the accounting system in various sectors of the economy. The ...  [more...]
BIRATNAGAR/NEPALGUNJ: Banks and financial institutions across the country have expressed serious concern about security after bank cash was robbed in Kailali and Makawanpur. On De...  [more...]
The number of listed companies that have agreed to dematerialise their shares at CDS and Clearing Ltd (CDSC) has reached 16. Nepal Life Insurance Company has become the latest com...  [more...]
The Nepal Stock Exchange (Nepse) plunged 26.47 points on Monday to close at 768.72 points. The loss for the second day in a row came after the central bank hinted at curbs on mar...  [more...]
Nepal Bankers’ Association ( NBA ) has formally written to the Nepal Rastra Bank (NRB), stating that they are unable to reduce the spread rate of interest to 5 percent.The ce...  [more...]
Nepal Rastra Bank ( NRB ) has allowed branches of commercial banks to deposit cash and make transfers and withdrawals also from banks where it has maintained a note fund, said the ...  [more...]
Nepal Rastra Bank ( NRB ) has expressed concern at the bull run in the Nepal Stock Exchange (Nepse) that it may be headed towards a bubble. The Nepse index soared to a five-year hi...  [more...]
Citizens Bank International will soon launch first corporate debenture issue of the current fiscal year. The bank will issue the seven year corporate bond — Citizens Bank De...  [more...]
The NIC Asia Bank board at its meeting held today has decided to recommend a cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and t...  [more...]
Nepal Rastra Bank (NRB) governor Yuba Raj Khatiwada has said that the central bank was encouraging mergers between banks to minimize the cost and optimize efficiency of the banking...  [more...]
The government has decided to form a taskforce to formulate Financial Sector Development Strategy.A meeting of the High-level Financial Management Committee held on Tuesday at the ...  [more...]
Banks have slashed their fixed deposit rates amidst the rising difficulty in disposing excess funds. The 31 commercial banks are offering 6.2 per cent interest on average for fixed...  [more...]
Banks have slashed their fixed deposit rates amidst the rising difficulty in disposing excess funds. The 31 commercial banks are offering 6.2 per cent interest on average for fixed...  [more...]
Nepal Rastra Bank lit fire to bank notes worth Rs 26.96 billion of various denominations in the last fiscal year, after they were used beyond repair and no longer fit for circulati...  [more...]
The World Bank (WB) and International Monetary Fund (IMF) are all set to start a comprehensive and in-depth analysis of Nepal’s financial sector. At the joint request of the...  [more...]
Lending to the agriculture sector by financial institutions has doubled in the last two years. However, achieving the regulator’s prescribed mark still seems to be far off ta...  [more...]
The merger bandwagon is rolling at full speed in the banking sector with Lumbini Bank and Manjushree Finance being the latest to announce a tie-up. The two companies signed a memor...  [more...]
The Basel III regulatory measures are expected to have less impact on the earnings of Nepali banks compared to their counterparts in the developed world as local institutions are l...  [more...]
Nepal Rastra Bank has made it more difficult for high-ranking officials and their family members to open a bank account and conduct banking transactions, in an attempt to control f...  [more...]
About two and a half dozen financial institutions are scrambling to conduct their annual general meetings (AGM) in the next one month to meet the regulator’s fixed deadline. ...  [more...]
Mega Bank Nepal has extended the term of its existing CEO Anil Keshary Shah. The bank decided to extend his term by another four years till December 9, 2017, during the bank’...  [more...]
As economic activities resumed its normal pace following a stalemate during the election, lending by banks seems to be a bit stimulated. In the week following the election results...  [more...]
To channel inbound remittance through formal financial route, experts have suggested remitters and financial institutions to utilise mobile banking technology. “To promote f...  [more...]
The commercial bench of Patan Appellate Court today sent six defendants in a bank fraud case to jail after they failed to post the bail amount of Rs 8.5 million set for each by the...  [more...]
NIC Asia Bank awarded the prestigious 'Bank of the Year 2013- Nepal' from The Banker-Financial Times, London NIC Asia Bank Ltd. has received the prestigious ‘Bank of the Yea...  [more...]
To avoid any sort of insider trading or price manipulation, the stock exchange has asked listed companies to inform it about any sensitive information that might affect share price...  [more...]
Haunted with excess liquidity, the financial institutions are ready to lend to the government at near zero interest rates. By lending Rs 1.1 billion to the central bank, a bank wi...  [more...]
Nepal Rastra Bank (NRB) has put in place stringent code of conduct for its employees assigned to supervise banks and financial institutions (BFIs). In the “NRB Monitoring an...  [more...]
The central bank is issuing another round of reverse repo as the amount of loanable funds in the banking system remains at surplus. Nepal Rastra Bank will be undertaking the fifth...  [more...]
Sindhuli:The people of Sindhuli district in the inner Tarai region of Janakpur zone are hopeful about possible economic boom as three national highways are all set to intersect in ...  [more...]
The banking sector struggled to lend during the first quarter of the current fiscal year due to sluggish growth in lending during the period, show Nepal Rastra Bank statistics. A,...  [more...]
A large number of cooperatives operating in Kathmandu district have been found not abiding by the standards fixed by the regulator. Major problems seen in these cooperatives includ...  [more...]
The International Monetary Fund (IMF)’s deputy managing director has advised some tightening of liquidity conditions to guard against risks of rising inflation and to reduce ...  [more...]
Twenty-eight commercial banks have reported a 13.99 percent rise in cumulative net profit to Rs 3.37 billion in the first quarter of the current fiscal year. The banks had registe...  [more...]
Nepal Rastra Bank governor Dr Yuba Raj Khatiwada has stressed on the need to raise the contribution of non-tax revenue to the total revenue of the government. “The ongoing p...  [more...]
The Rs 3 billion worth of development bonds issued by the government on Thursday have been massively oversubscribed. The central bank, which acted on behalf of the government, was ...  [more...]
In what turned out to be the second bank to bank merger, Global IME Bank and Commmerz and Trust Bank agreed to become one on Sunday. Global IME Bank Chairman Chandra Prasad Dhakal ...  [more...]
The government plans to issue development bonds worth Rs 3 billion on Nov 14 to raise internal loans despite having a large amount of unspent cash in its coffers. The government w...  [more...]
The government has formed a high-level commission led by former Special Court chairman Gauri Bahadur Karki to assess the financial situation of troubled cooperatives .Other members...  [more...]
Nepal Rastra Bank ( NRB ) has allowed money transfer agencies and money changers to sell their foreign currency to the central bank too. Earlier, they could do so only to commercia...  [more...]
The Federation of Nepalese Chamber of Commerce and Industry (FNCC), in association with Samriddhi Foundation, is preparing to organize Nepal Economic Summit 2014 from February 24 n...  [more...]
The Inland Revenue Department ( IRD ) is scheduled to organise “Tax Fair” in Kathmandu possibly in the last week of December with an aim of bringing additional taxpayer...  [more...]
Nepal has crawled up the Doing Business Index by reducing the hassles involved in registering a company. According to the Doing Business Index (DBI) 2014 released by the World Ban...  [more...]
Nepal Rastra Bank ( NRB ) plans to re-allow auto dealers to lend money to customers to buy their automobiles. Motor sellers had been obtaining wholesale loans from banks and financ...  [more...]
The country’s 43 percent population has access to banking services.This figure is based on the number of deposit accounts in commercial banks, development banks and finance c...  [more...]
Deception committed with the use of technology has emerged as a big threat in the banking sector with the police arresting three people involved in ATM fraud last week alone. The ...  [more...]
"Real estate exposure down to 14.9pc; profits hit record Rs 20.1b" Non-performing loans (NPL) of commercial banks have decreased to a 10-year low, loan exposure to real ...  [more...]
The World Bank (WB) has said that any possible rise in Nepal’s economic growth rate of 4 percent would depend critically on political stability. Releasing Nepal Development...  [more...]
With more people going on a buying spree during Dashain, the autumn season sees a chunk of bank lending flowing towards personal and consumable purposes. Between the beginning of ...  [more...]
The National Cooperative Development Board (NCDB), in coordination with the Ministry of Cooperatives and Poverty Alleviation (MoCPA), has been drafting a new cooperative act in a b...  [more...]
Om Finance Company has earned an operating profit of Rs 10.7 million by mid October. According to a press statement issued by the company, it has collected deposit worth Rs 3.99 b...  [more...]
The Ministry of Finance ( MoF ) has initiated devising the Financial Sector Development Strategy as per the budgetary provision. The budget for the current fiscal year has talked ...  [more...]
Nepal Rastra Bank ( NRB ) has ordered development banks and finance companies to raise the level of their lending to the productive sector to 15 percent and 10 percent respectively...  [more...]
Non-performing loans (NPL) of finance companies have surged by more than six percent points over one year due to crisis facing some of the finance companies and non-recovery of rea...  [more...]
Commercial banks may face problems in meeting the agriculture lending target set by the regulator despite recording 33 per cent growth in flow of credit to various agro-related pro...  [more...]
Biratnagar: Purbanchal Grameen Bikas Bank (PGBB) has made the staff responsible for issuing loans to customers against low-quality collateral repay them out of their own pocket. Th...  [more...]
The government has finally given the go-ahead to international financial institutions to issue local currency bonds in Nepal. The Finance Ministry on Monday decided to allow instit...  [more...]
Civil Bank Ltd has announced its merger with Axis Development Bank and Civil Merchant Finance Company. The three financial institutions have signed a memorandum of understanding to...  [more...]
Citizens Bank International is giving away 15 per cent cash dividend from the profit generated in last fiscal year. The decision was taken by the seventh annual general meeting of ...  [more...]
The Metropolitan Police Crime Division today arrested six people, including Rohit Lal Shrestha, 34, of Thamel, head teller at Thamel-based branch office of KIST Bank, for defraudin...  [more...]
Nepal Investment Bank Limited today opened its sixth branchless banking outlet at Tokha, Chandeshwori village development committee, Kathmandu. Branchless banking service has emerg...  [more...]
The government is extending a loan of Rs 50 million to state-run Sudurpaschimanchal Grameen Bikas Bank to shore up the balance sheet of the troubled microfinance institution. Fina...  [more...]
Nepal SBI Bank has said its net profit increased by 60.69 percent to Rs 771 million in fiscal year 2012/13. Organizing a press meet in the capital, the bank said its Capital Adequa...  [more...]
Each commercial bank is sitting on more than Rs two billion on average of idle loanable funds following speedy deposit growth, while loan disbursement has been crawling at a slow p...  [more...]
A comprehensive analysis and assessment of the Nepali financial sector is on cards as the International Monetary Fund (IMF) and World Bank (WB) will conduct a detailed financial se...  [more...]
"The scale of remittance in Nepal is 25 percent of the GDP: World Bank" Remittance has emerged as one of the biggest factors in poverty reduction. If the individuals tha...  [more...]
In a clear indication that excess liquidity is easing, banks and financial institutions (BFIs) oversubscribed treasury bills (T-bills) by 1.3 times.  Under the mechanism, th...  [more...]
The Ministry of Finance has prepared the final draft of the local currency bond guideline, which, once introduced paves the way for international financial institutions to raise fu...  [more...]
Banknotes get damaged or mutilated soon due to haphazard stitching by banks and financial institutions (BFIs) and lack of proper knowledge among people on note handling, according ...  [more...]
With the number of financial institutions going public waning, primary investors will see more hydropower companies entering stock market. More hydropower firms are seeking to iss...  [more...]
The Nepal Rastra Bank ( NRB ) Governor Yubaraj Khatiwada has been admitted to the Shahid Gangalal National Heart Centre, Maharajgunj, after he suffered a “heart blockage&rdq...  [more...]
Bullion has become a safe collateral for banks to float loans and such loans have jumped by 30 per cent in the last one year. However, the central bank has asked financial institut...  [more...]
Anyone with a dollar account at commercial banks can get issued dollar denominated credit cards with $10,000 expenditure limit. Issuing a circular, Nepal Rastra Bank (NRB) has dou...  [more...]
Throughout the month of February, financial institutions were lending money to each other at more than six per cent interest. Then in March, the interbank lending rate started to s...  [more...]
Financial institutions have oversubscribed the latest round of reverse repo by two times the offered amount. Financial institutions have bid for securities worth Rs 21.85 billion ...  [more...]
Nepal Rastra Bank (NRB) is issuing reverse repo worth Rs 10 billion on Wednesday to mop up excess liquidity in the banking sector. Reverse repo is a monetary instrument, under whi...  [more...]
The central bank has started distributing fresh currency notes to financial institutions to meet the demand for crisp notes during Dashain. Dashain is less than two weeks away and...  [more...]
Himalayan Bank Limited (HBL), as a part of its festive offer, has introduced special interested rates on home and auto loans. According to the scheme, customers will be get Fixed ...  [more...]
Transaction volume at Nepal Stock Exchange (Nepse) in the first month of the current fiscal year jumped by more than 80 per cent due to easy availability of margin financing. Trad...  [more...]
Anyone with traveller’s cheques at home should get them cashed as soon as possible for they will not be accepted by Nepali banks from early November. Nepal Rastra Bank (NRB)...  [more...]
In a sharp departure from the past, the government will raise more than 50 percent of the internal loans through development bonds this fiscal year. Earlier, the government used to...  [more...]
Nepal continued to remain in the league of least economically free countries in the world this year as well, as it failed to make significant improvement in strengthening its legal...  [more...]
National level development banks and finance companies will from now on have to publish their base rates. While announcing the monetary policy, Nepal Rastra Bank (NRB) had mention...  [more...]
The central bank is undertaking outright sale auction tomorrow, following two consecutive weeks of reverse repo, to absorb excess liquidity in the financial system. “Nepal R...  [more...]
At a time when prices of essential commodities have been increasing due to weakening Nepali rupee against US dollar, Nepal Rastra Bank (NRB) has said inflation in the first month o...  [more...]
Eleven months after it introduced base rate for commercial banks , the Nepal Rastra Bank (NRB) has made it mandatory for national-scale development banks and finance companies as w...  [more...]
Everest Bank has launched a new scheme, ‘Utsab Awasar Yojana’, to commemorate the festive season of Dashain and Tihar. Under the scheme, introduced with a tagline &lsq...  [more...]
Financial institutions will not accept bearer cheques issued for payments of amounts higher than Rs five million and issued to any firm, company or organisation after November 15, ...  [more...]
Nepal Bank Ltd (NBL) will auction its 2.49 million units of unsubscribed rights shares to the public as ordinary shares. It has asked for sealed quotations from interested investo...  [more...]
Bird-flu embattled poultry farmers will get much needed relief as financial institutions have planned to go soft on poultry loans. “Though giving financial relief or subsidi...  [more...]
For most Nepali households‚ owning a home and a car has become achievable thanks to banks offering home and auto loans at a relatively cheaper rate. Commercial banks have st...  [more...]
Sanima Mai Hydropower will be offering shares to the public in two weeks, to become the fifth hydropower company in the Nepali capital market. The hydropower company will conduct ...  [more...]
The automobile market has been energised in recent days with banks and financial institutions (BFIs) reducing interest rates on auto loans. In addition, BFIs have been offering a n...  [more...]
Nepali banks grappling with excess liquidity have oversubscribed the central bank’s latest bout of reverse repo by four times. Financial institutions have bid for securities...  [more...]
Though Himalayan Bank (HBL) and Bank of Kathmandu (BOK) have moved the court to withhold making payments to Melamchi Water Supply Development Board (MWSDB), there is a high chance ...  [more...]
With the banking system flush with excess liquidity in recent days, the Nepal Rastra Bank (NRB) is once again absorbing liquidity by issuing reverse repo worth Rs 10 billion. The ...  [more...]
A government body established to assist banking institutions in recovery of loans defaulted by borrowers has failed to claw back much of the bad debt despite being successful in pr...  [more...]
Banks are issuing fewer Letters of Credit (LC) for imports as the strong dollar has compelled importers into postponing import orders. Since importers have become nervous about th...  [more...]
The Asian Development Bank (ADB) has forecast consumer prices to go up by an average of 10.5 per cent this fiscal year, as against the government’s estimate of eight per cent...  [more...]
Nepal Rastra Bank (NRB) has circulated a new banknote of Rs 100 denomination that features Lumbini — birthplace of Lord Buddha. The Cabinet decision made in September last y...  [more...]
The Nepal Rastra Bank (NRB) has directed banks against engaging in hedging of the US dollar through non-deliverable forward (NDF) contracts with international banks. The NRB invit...  [more...]
The government has commenced research reviewing the current restrictions on cooperatives investing in industries. So far, no industrial act in the country permits cooperatives to s...  [more...]
Biratnagar: Employees of the Purbanchal Grameen Bank (PGB) padlocked the bank ’s central office on Sunday. The PGB’s employees have blamed the bank ’s board for f...  [more...]
Financial institutions will have to issue bonus shares this fiscal year, if they want to increase their paid up capital to the central bank’s mandated amount, according to th...  [more...]
Everest Bank Limited (EBL) has launched Mobile ATM service across the country. According to the bank, the recently launched Mobile ATM service will allow EBL customers to avail ban...  [more...]
Nepal Rastra Bank (NRB) will be conducting a reverse repo worth Rs 5 billion on Wednesday to mop up excess liquidity in the market. This is the first reverse repo in three years. ...  [more...]
One of the leaders in global payment services, Western Union announced on Tuesday the launch of a mobile money transfer service in association with Nabil Bank and FonePay. FonePa...  [more...]
Bangladesh-based IFIC Bank purchased 2.91 million unit shares of Nepal Bangladesh Bank Ltd (NBBL) from the promoter’s group at Nepal Stock Exchange (Nepse) today. The promot...  [more...]
Biratnagar: The Debt Recovery Tribunal (DRT) has said that inadequate collateral and missing assets of the guarantor has made it more difficult to recover defaulted loans. Accor...  [more...]
Chief Executive Officer (CEO) of International Development Bank Rajaram Khadka has been found to have taken loans from the institution where he is working at an interest rate lower...  [more...]
Nepal Rastra Bank ( NRB ) Governor Yuba Raj Khatiwada on Thursday warned the micro-finance institutions (MFIs) that political parties could use them as scapegoat to influence the v...  [more...]
The Nepali currency continued to slide on Thursday too, hitting an all-time low of over Rs 108 against the US dollar in the market. Nepal Rastra Bank (NRB), in a rare exercise, fix...  [more...]
Unilever Nepal Limited, Quest Pharmaceuticals and Get Paper Industries bagged one of the most prestigious business awards given away annually by the Federation of Nepalese Chambers...  [more...]
The Department of Agriculture has said that lending by the state-owned Agricultural Development Bank Limited (ADBL) to the farm sector jumped 111 percent to Rs 8.37 billion in the ...  [more...]
The International Finance Investment and Commerce (IFIC) Bank, which aims to acquire a majority stake in Nepal Bangladesh Bank (NB Bank) by purchasing the shares owned by the NB Gr...  [more...]
The Securities Board of Nepal (Sebon) is making preparations to regulate the commodity market through a new act after finding no way to do so by means of a regulation. The stock m...  [more...]
Everest Bank has bagged the ´Best Managed Commercial Bank´ award in the Asian Paints Newbiz Award. According to a press statement, the award was announced and handed ov...  [more...]
Amid complaints from traders that the quota imposed by the central bank on the daily supply of gold from banks is inadequate, Nepal Rastra Bank ( NRB ) Governor Yuba Raj Khatiwada ...  [more...]
Embassy of the United States in Kathmandu has stated that many American companies have expressed interest to invest in Nepal´s hydropower sector. Although challenges remain,...  [more...]
Loans against shares floated by financial institutions recorded a single digit growth in the last fiscal, despite the bullish share market throughout the year. Total loans floated...  [more...]
Biratnagar: Around Rs 150 million investment of Purbanchal Grameen Bikash Bank (PGBB) is at risk. After the Maoist-led government five years ago decided to waive off loans worth...  [more...]
Commercial banks seem to have recovered from shadows of bad loans made in the past, as they registered a whopping rise in net profit last fiscal year. The net profit of class &lsq...  [more...]
Foreign direct investment (FDI) commitments reached an all-time high of Rs 19.39 billion in the last fiscal year. Despite protracted political transition, a total of 300 projects ...  [more...]
Civil Bank Ltd on Monday launched a new scheme ´Khata ma Chhata´, a scheme to gift an umbrella to anyone who opens a new account for the upcoming Teej festival. Women ...  [more...]
Despite the growing interest spread, most commercial banks have managed to bring the net interest spread down to below five per cent. The average net interest spread of commercial...  [more...]
The government is planning to impose ceiling on both deposit mobilisation and credit disbursement of cooperatives amid fears that huge deposits in the relatively unregulated sector...  [more...]
Foreign direct investment (FDI) in tourism swelled more than four-fold in 2012-13, reflecting rising investor interest in the industry due to higher arrivals following the end of t...  [more...]
Civil Bank on Thursday announced a discount in the interest rate for the bird flu-stricken poultry sector. According to the bank, the interest rates across its entire poultry port...  [more...]
Making a commitment is far easier than implementing it -- a phenomenon which is being experienced in the context of Foreign Direct Investment (FDI) in Nepal. Statistics show a hug...  [more...]
Nepal ’s trade deficit rose by 23.9 percent to reach Rs 479.82 billion in last fiscal year, thanks to a surge in imports compared to exports. Imports surged by 20.6 percent ...  [more...]
International Finance Corporation (IFC), the private sector arm of the World Bank Group, has asked the government to introduce a guideline guiding the issuance of Nepali rupee bond...  [more...]
On Jan 1 last year, the UCPN (Maoist)-led government declared 2012-13 as Nepal Investment Year (NIY) with much fanfare to highlight its ambitious aim to thrust Nepal’s econom...  [more...]
 Micro finance institutions (MFIs) have been required to obtain the credit history of potential borrowers from the local branch offices of commercial banks, development banks ...  [more...]
"BFIs failing to meet 100 percent paid-up capital will have to issue rights or bonus shares or go for merger"  Banks and financial institutions (BFIs) have to fulfi...  [more...]
A renowned international consulting agency has suggested that Nepal Rastra Bank (NRB), central monetary authority, allow financial intermediaries like commercial banks to sell gove...  [more...]
Financial institutions have to maintain a hawk-eye scrutiny on short-term borrowers of working capital type loans from now on to manage multiple banking transactions. Issuing a ci...  [more...]
The CMO Council of NDEP Bank Singapore has awarded Asia’s Best Employer Brand Award 2013 to NDEP Development Bank. The award was extended citing its contribution in jobs crea...  [more...]
Commercial banks recorded handsome profits last fiscal year. As of now, 11 banks have published their fourth-quarter reports of 2012-13, and net profits of all the banks have incre...  [more...]
Chairman of Interim Election Council Khil Raj Regmi on Wednesday said timely issuance of budget, finalization of the concept paper of the 13th plan and the monetary policy have gen...  [more...]
With interbank rates and the yields on treasury bills heading south, banks are grappling with ways to dispose surplus funds profitably. In the past one month, deposits at commerci...  [more...]
Nepali citizens working in international organisations and maintaining foreign currency accounts in Nepali banks can withdraw up to $10,000 at a time and up to $20,000 in a year to...  [more...]
Everest Bank Limited (EBL) has launched a new deposit product called ‘Asha 2070 Fixed Deposit’. “The scheme has been launched with the objective of inculcating a ...  [more...]
Nepal Rastra Bank Governor Yuba Raj Khatiwada said on Sunday the malpractice of balance sheet manipulation at banks and financial institutes (BFIs) could take down the banking sect...  [more...]
The Nepali capital market is gearing up to receive new fund offers worth Rs 1.4 billion soon. Two mutual fund managers have already submitted their prospectus for approval at the ...  [more...]
 The operating profit earned by Everest Bank Ltd (EBL) increased by 34.14 percent during Fiscal Year 2013/14 ended mid-July compared to the amount recorded the previous year. ...  [more...]
Himalayan Bank Ltd (HBL), in association with American Express, has launched a premium credit card targeted towards the affluent class. The Himalayan Bank American Express Gold cr...  [more...]
The merger policy introduced by the central bank two years back has been successful as almost one-fourth of the financial institutions have opted for mergers since then. Since Apr...  [more...]
Banks and financial institutions (BFIs) will be able to maintain an increased level of compulsory lending to deprived sectors in two instalments. The central bank has told them tha...  [more...]
Deposits at commercial banks fell by Rs 16 billion over the first fortnight of the fiscal year 2013/14.Commercial banks had reported total deposits of Rs 1000.17 billion at the end...  [more...]
Clean Energy Development Bank (CEDB) has won the ´National Best Presented Annual Report Award 2012´ conferred by Institute of Chartered Accountants of Nepal (ICAN). Ac...  [more...]
Banks and financial institutions in the country now have more funds to invest or extend as credit, as the changes in Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)...  [more...]
The Nepal Rastra Bank (NRB) has decided to increase the number of goods in the list that are imported from India by paying convertible currency. The central bank, through the Mone...  [more...]
Along with northbound share prices, transaction volume in the stock exchange surged by 84 per cent as the investors are betting for the better days to come, this week –July 2...  [more...]
One-fifth of the total deposits in financial institutions belonging to individual savers are safe for being covered deposit insurance. Deposit and Credit Guarantee Corporation (DC...  [more...]
With the Nepal Rastra Bank (NRB) directing commercial banks to maintain institutional deposits at less than 60 percent of their total deposits, newer banks will be in a difficult p...  [more...]
The US Federal Reserve is currently under scrutiny. Reason: inflation is running below targeted two per cent rate. Although many US central bank officials seem confident about me...  [more...]
Unilever Nepal, whose shares are being traded at close to Rs 10,000 a unit, topped the list of dividend payers among the publicly listed companies last fiscal, giving away Rs 680 o...  [more...]
Nepali financial sector will be flooded with additional 33 more ‘D’ class banks within next two years. The monetary policy for fiscal year 2013-14 has announced that al...  [more...]
The gold price that was increased for a week suddenly came down Thursday as compared to Wednesday, according to Nepal Gold and Silver Dealers' Association (NEGOSIDA). The hallmark...  [more...]
Governor of the Nepal Rastra Bank ( NRB), Dr. Yubaraj Khatiwada has said that banks and financial institutions should not increase loan interest rates every month. At a discussion...  [more...]
Nepal Rastra Bank (NRB) is planning to issue a directive ordering bank s and financial institutions (BFIs) to keep difference of interest rates on a particular category of loans wi...  [more...]
Nepal Rastra Bank (NRB) has banned micro-finance institutions (MFIs) from lending to multiple loanees against single collateral. The central bank has directed MFIs to take cred...  [more...]
Nepal Rastra Bank (NRB) has lifted the spirits of bankers by introducing a loose monetary policy that aims at mobilising banks and financial institutions to expand lending by 18 pe...  [more...]
- Spread rate fixed at 5 percent - Institutional deposits to be reduced to 60 percent of total deposits - Micro finance companies to get up to Rs 2 million at zero interest to open...  [more...]
- Spread rate 5 percent for commercial bank, 4.5 percent for development banks and 4 percent for finance companies. - Refinancing rate 5 percent - Special refinancing rate 1.5 perc...  [more...]
The Nepal Rastra Bank (NRB) is unveiling the new monetary policy on Sunday with provisions related to raising paid-up capital requirement for bank s and financial institutions (BFI...  [more...]
With the target to attain of 5.5 per cent economic growth rate and restrict the inflation to 8 per cent, the Nepal Rastra Bank (NRB) on Sunday made public the monetary policy for t...  [more...]
Development banks in Pokhara have reported hefty rise in profit in 2012/13 compared to figures of 2011/12. A development bank in the lake city earned profit of more than Rs 90 mil...  [more...]
Mutual fund unit holders can expect to receive two to four per cent hike in dividend payouts by fund managers following tax exemptions announced in the financial ordinance. From t...  [more...]
The government’s decision to transform the NIDC Development Bank into an infrastructure development bank has not gone down well with the Nepal Rastra Bank (NRB). The central ...  [more...]
c (CDSC) has stepped into its second year of operation without undertaking even a single settlement of a dematerialised share as it failed to get listed firms to register their s...  [more...]
The total deposit amount handled by 31 commercial banks in the country has crossed Rs one trillion as of this week. With the closing of the last fiscal year, class ‘A’...  [more...]
Yeti Development Bank Ltd started its integrated transaction from Ashad 31, 2070 after the merger process among the then Manakamana Development Bank, Yeti and Valley Finance comple...  [more...]
Nepal Rastra Bank — the banking sector regulator — today introduced Unified Directives 2013, which, among others, has extended the deadline to limit personal loans to R...  [more...]
The Investment Board of Nepal (IBN) has lost its teeth after the government failed to propose any concrete plans in the budget for fiscal year 2013/14 to improve the institutiona...  [more...]
Mega Bank Nepal Limited has completed the allotment procedure of its shares, thereby distributing it amongst One Lakh Forty Four Thousand Four Hundred and Fifty Six (1,44,456) gene...  [more...]
Financial institutions should not jump into mergers without testing their compatibility and without knowing about the transactions of each other, according to the central bank gove...  [more...]
The government in the new budget has announced a financial sector development strategy to maintain financial stability, expand financial inclusion, and strengthen the capital marke...  [more...]
The special general meeting (SGM) of Rastriya Banijya Bank (RBB) on Sunday approved the conversion of 8,735,700 units of preference shares worth Rs 873.57 million into ordinary sha...  [more...]
Nepal Rastra Bank (NRB), that prevented the country’s economy from taking a freefall during the recent real estate crisis, has fallen prey to the growing mob culture in the c...  [more...]
 Inflation moderated to 8.2 percent in the 11th month of the fiscal year, according to a Nepal Rastra Bank (NRB) report. Prices have been falling for the last three months. In...  [more...]
Three more merged financial institutions will start operations before the end of the current fiscal year. Nepal Rastra Bank has given the final go-ahead to the three sets of merger...  [more...]
AK Ahluwalia has been appointed the CEO of Everest Bank. According to a press statement, Ahluwalia assumed office on July 1. "Ahluwalia has more than 32 years of banking exper...  [more...]
Around 300 depositors of crisis-ridden Oriental Cooperatives on Wednesday picketed the Nepal Rastra Bank ’s central office in Baluwatar, Kathmandu, to pressure deputy governo...  [more...]
Amid growing concerns over high premiums, Nepal Rastra Bank (NRB) has started homework on revising the premium rate on the deposit insurance by the banks and financial institutions...  [more...]
The newly appointed executive head of Nepal Stock Exchange (Nepse) has emphasised on making stock exchange trading online in the near future. “Making internet based share tr...  [more...]
Nepal Credit and Commerce (NCC) Bank has introduced NCC Visa Debit Card service. According to a press statement issued on Monday, the bank extended its network of debit cards after...  [more...]
To revive sick industries, financial institutions might be able to obtain refinancing facility from the central bank at a minimal interest rate. Financial institutions can finance...  [more...]
Despite the growing popularity of plastic money, general Nepali people have still not warmed up to the use of credit cards to make purchases. The number of credit cards issued by ...  [more...]
Rural Microfinance Development Centre (RMDC) — a wholesale micro credit lender — will launch the initial public offering (IPO) of its premium added shares from July 11....  [more...]
The central bank governor has expressed that monetary policy measures are not sufficient to control inflation in the Nepali economy due to its structural nature. “Since infl...  [more...]
The need for investors to hold on to share certificates might soon be over, as CDS and Clearing Ltd (CDSC) has decided to become flexible regarding stock brokers’ demand to i...  [more...]
Qatar — the second most preferred job destination for Nepali foreign job seekers — has been listed at the top in the citizen-migrant ratio. About 87 per cent residents ...  [more...]
Police today said they have registered 14 cases against suspects under the Banking Offence and Punishment Act, 2008, so far this fiscal. Of the 64 defendants, 30 people have been a...  [more...]
Despite the lukewarm response in previous years, the central bank has not yet given up on foreign employment bonds as it has tenaciously come up with the latest offering. Nepal Ra...  [more...]
Deposits of commercial banks surged by around Rs 40 billion in the last one month, due to improvement in government spending.Deposits of banks stood at around Rs 973 billion as of ...  [more...]
Government has promised to open all doors to attract cooperative investment in the energy sector. The country has huge potential in hydropower sector and cooperative investment wil...  [more...]
Nepal Investment Bank Ltd (NIBL) is the latest bank that has planned to launch corporate debentures in the capital market. NIBL will issue seven-year corporate bonds — Nepal...  [more...]
NIC Bank and the Bank of Asia Nepal (BoAN) have combined to become NIC Asia Bank in the first ever case of a merge r between commercial banks. Nepal Rastra Bank (NRB) governor Yuba...  [more...]
The Police on Saturday arrested Siddhartha Development Bank Chairman Shekhar Aryal for insider lending and over-valuating the collateral put by Jamko Publications. Central Investi...  [more...]
Around 3,000 completed and under-construction apartments worth billions of rupees remain unsold after the government and the Nepal Ratsra Bank (NRB) put a ceiling on loans for real...  [more...]
The central bank has stressed that banks need to comply with the anti money laundering regulation by using only formal channels for transactions and fulfilling their responsibility...  [more...]
 Increasing their capital has become imperative for banks to expand their loan portfolio and to appease shareholders with cash dividends. As the average capital adequacy rati...  [more...]
Sitaram Thapaliya was appointed as the new general manager of Nepal Stock Exchange (Nepse) by the Cabinet meeting held today. Thapaliya is a seasoned investor in the capital marke...  [more...]
More than half a million new bank accounts were opened after the central bank introduced stringent ‘Know-Your-Customers’ (KYC) routine, dispelling fears that the provis...  [more...]
The Nepal Rastra Bank (NRB) is preparing to further increase the minimum paid-up capital requirement for banks and financial institutions (BFIs). Central bank sources said such a ...  [more...]
The Nepal Stock Exchange (Nepse) on Tuesday rose 4.96 points to settle at 493.89 points. This is Nepse’s highest single-day gain in the last one month. The rise in the bench...  [more...]
The rights issue closing of Nepal Bank Ltd (NBL) has been extended by two more weeks as its subscription fell short by nearly half a million rupees. Nepal Bank, that had launched ...  [more...]
Shareholders of Manakamana Development Bank have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank, Yeti Finance and Valley Fi...  [more...]
NIC Bank and Bank of Asia will complete their merger process and commence operation as NIC Asia Bank from Sunday. This is the first ever merger between two commercial bank s in the...  [more...]
After two banks issued public notices for auctioning realty trader Sudhir Basnet’s land and property, depositors of Oriental Saving and Credit Cooperatives, which is also pro...  [more...]
Citizen Bank International has launched ´Dollar Debit Card Service´ for the benefit of those travelling abroad. A press release issued by the bank on Sunday said custom...  [more...]
As the Nepal Rastra Bank (NRB) prepares the new monetary policy, the Nepal Bankers’ Association (NBA) has asked the NRB to allow bank s to open branches in foreign countries ...  [more...]
Despite constant prodding by the central bank, financial institutions still remain sceptical about financing the agriculture sector. In the last few months, the amount of loans fl...  [more...]
As the Nepal Rasta Bank (NRB) gears up for the merger of five rural development banks, readjusting their staff has remained as a big challenge. The central bank has already given ...  [more...]
Nepal Rastra Bank ( NRB ) and People’s Bank of China will be signing a memorandum of understanding (MoU) on Friday, paving the way for the NRB to invest in Chinese securities...  [more...]
Deposits at commercial banks fell by Rs 6 billion in a weeklong period between June 7 and 14 after the amount raised by Mega Bank through initial public offering (IPO) was transf...  [more...]
Despite the numerous inaugurations, the full automated operation of CDS and Clearing (CDSC) still seems like a Herculean task with less than a month remaining for the given deadlin...  [more...]
Officials of seven development banks faced the Nepal Rastra Bank’s (NRB) action for insider lending. These seven are among the 12 development banks that faced the central ban...  [more...]
Banks and financial institutions expanded lending by 17 percent in the first 10 months of the current fiscal year to mid-May propelled by higher credit demand from trading, product...  [more...]
The Finance Ministry is preparing guidelines to issue local currency bonds. “The guidelines will be prepared within a month,” informed joint secretary at the ministry B...  [more...]
Commercial banks ’ spread rate has reached 7.01 percent.Average interest rate on deposits was 5.36 percent as of mid-May, while that on lending was 12.37 percent, according t...  [more...]
State-owned NIDC Development Bank has introduced a host of plans, including bringing down the level of non-performing loan to below 10 percent of the total loan portfolio from exis...  [more...]
Bankers have expressed the need to remove mandatory directed lending imposed by the central bank. “Nepal Rastra Bank (NRB) has made deprived sector lending of up to four per...  [more...]
Account holders of Gurkha Development Bank can finally withdraw their deposits starting from June 15. The class ‘B’ bank had only allowed a minimum deposit withdrawal ...  [more...]
Nepal Bankers ’ Association (NBA) on Thursday demanded the government lower the corporate income tax on banks and financial institutions (BFI) from the existing 30 percent to...  [more...]
Nepal has signed the Cebu Declaration on Inclusive Insurance, expressing solidarity to a movement launched by some Asian countries to promote the task of providing risk protectio...  [more...]
Stock investors might be freed from paying high capital gain tax from the coming fiscal year.Securities Board of Nepal (Sebon) has strongly suggested the Finance Ministry to replac...  [more...]
Manakamana Development Bank, Yeti Finance, Infrastructure Development Bank and Valley Finance have decided on the share-swap ratio for their upcoming merger. The Due Diligence Aud...  [more...]
Locals of Rasuwa have added assets worth Rs 4,439 per head, apart from cash dividends in the last three fiscal years thanks to Chilime Hydropower that floated shares to the locals ...  [more...]
Nepal Rastra Bank (NRB) is preparing to give a way out to crisis-ridden Gurkha Development Bank following its improved loan recovery and reduced liability. The central bank, which ...  [more...]
Nepal Rastra Bank (NRB) has rejected Agriculture Development Bank Ltd (ADBL)’s proposal to distribute dividends. Back in May, ADBL had announced it would distribute 5.6 per c...  [more...]
Prabhu Finance Company has launched the biggest merger process in domestic banking industry, with the target of roping in over 10 financial institutions to create a national leve...  [more...]
The Nepal Rastra Bank (NRB) on Sunday froze bank accounts of Gauri Khanal, wife of former Kist Bank Managing director Kamal Gyawali, and Jamko Publication proprietor Kishor Dhakal ...  [more...]
Nepal Bankers’ Association (NBA) on Sunday warned that they would not work with Melamchi Water Supply Development Board (MWSDB). According to NBA sources, there has been an ...  [more...]
Home buying is becoming attainable for more Nepalis as financial institutions are eager to expand the portion of home loans in their lending portfolio. The total loans floated by ...  [more...]
Kist Bank’s board on Saturday approved the resignation of Managing Director Kamal Prasad Gyawali after he landed in controversy over his wife’s alleged involvement in b...  [more...]
Melamchi Water Supply Development Board (MWSDB) has decided to seek help of Nepal Rastra Bank (NRB) to secure bank guarantee amount that former tunnel work contractor China Railway...  [more...]
Microfinance institutions are raking in profits amidst the growing concern over the massive lending rate being charged on borrowers. Microfinance development banks have earned 21 ...  [more...]
The police have arrested proprietor of Jamko Publications Private Limited Kishor Dhakal and Gauri Khanal for embezzling loans taken from Siddhartha Development Bank. Khanal is the ...  [more...]
International Finance Corporation (IFC) — a member of the World Bank Group — is working to ensure banks understand sound risk management practices so that they can asse...  [more...]
Chinese traders have initiated consultation with concerned officials to open the branch office of Chinese bank in Nepal.They have already met high-ranking government officials, off...  [more...]
Rastriya Banijya Bank (RBB) and Nepal Bank Limited (NBL) have started a recovery drive for loans defaulted before 2002 when the Financial Reform Programme was implemented at these ...  [more...]
Siddhartha Insurance and Nepal SBI Bank have become members of CDS and Clearing (CDSC) to get their shares and bonds dematerialised.Including these two companies, number of CDSC me...  [more...]
The number of small finance companies and development banks incurring losses increased in the past quarter, while larger financial institutions were able to earn enviable profits...  [more...]
Rajbiraj: Thousands of locals have been affected for the past four months after the Rastriya Banijya Bank (RBB) branch office in Rajbiraj stopped issuing loans against gold as coll...  [more...]
Nepal Investment Bank Limited (NIBL) has launched its 3rd branchless banking outlet in Bandipur-1of Tanahun. According to a press statement issued by the bank, the service aims to ...  [more...]
Three relatively weaker finance companies have formally initiated merger process, as the deadline for raising minimum regulatory capital requirement is approaching. Arun Finance, ...  [more...]
The Department of Cooperatives (DoC) has introduced “Working Procedure on Merger”, offering certain facilities for cooperatives going for merger. The working procedure...  [more...]
In order to make mutual funds more appealing to investors, the capital market regulator — Securities Board of Nepal (Sebon) — is willing to provide some respite to mutu...  [more...]
National level development banks in the country can from now on issue Letter of Credit (LC) for imports.Issuing a circular, Nepal Rastra Bank (NRB)’s Foreign Exchange Managem...  [more...]
Public deposits worth more than Rs eight billion are stuck at troubled financial institutions (FIs).With the central bank’s decision to include General Finance too in the gro...  [more...]
Global IME Bank has geared up for another merger — this time with Gulmi Bikas Bank. The class ‘A’ bank signed a memorandum of understanding (MoU) with Gulmi Bika...  [more...]
Security Board of Nepal (Sebon) has initiated a feasibility study on allowing  companies to go into free pricing system for their initial public offering ( IPO ). The system, ...  [more...]
Interest rates on institutional deposits are continuing to go up as liquidity shortage triggered by government´s lower capital spending has compelled some commercial banks to...  [more...]
The Nepal Rastra Bank (NRB) has declared General Finance Limited crisis-ridden as its financial health deteriorated due to the failure to abide by the NRB directives issued eight m...  [more...]
Mega Bank will be making its initial public offering (IPO) worth Rs 699 million on June 2. It will issue 6.99 million shares to the public at par value of Rs 100 per share. The ba...  [more...]
Money remains piled up in the government’s treasury as it has not been able to expedite capital expenditure. As of mid-May, the government’s cash reserves stood at Rs 5...  [more...]
Global IME Bank on Friday received permission from the Securities Board of Nepal (Sebon) to operate a mutual fund. The bank said in a statement that the mutual fund would be named ...  [more...]
Prabhu Finance Company, Bhaivab Finance Company and Sambriddhi Development Bank have agreed to merge. After the three institutions are combined, it will be named Prabhu Bikas Bank....  [more...]
Depositors have recently started preferring to park funds in development banks and finance companies that offer higher interest rates than in commercial banks that are stingy in te...  [more...]
ICRA Nepal , the only credit rating agency in the country, has given the debentures of Himalayan Bank Limited (HBL) an LA rating. HBL is preparing to issue debentures worth Rs 750 ...  [more...]
Deviation of cooperatives from its core principle coupled with increasing financial indiscipline have become a major problem recently, according to a high government official. The...  [more...]
So far, the amount of corporate debentures issued in the capital market is almost double the initial public offerings (IPOs) held, this fiscal year. Even though debentures are nev...  [more...]
Clean Energy Development Bank (CEDB) has been recognised as one of the 25 most progressive banks of the world and becomes the only bank from Nepal and third from Asia to join the G...  [more...]
Mega Bank Nepal Limited has published an offer letter to issue 69,90,000 units IPO Share to the general public from (19th to 22nd Jestha, 2070). Details: Issue Open Date: &nb...  [more...]
A recent study done by Nepal Rastra Bank (NRB) has revealed that factories struggled to utilise their full capacity in the first half of this fiscal year in a reflection of the poo...  [more...]
Mega Bank is all set to make its initial public offering (IPO) in the first week of June. It received the go-ahead from the Securities Board of Nepal (Sebon) on Thursday, and plans...  [more...]
Global IME Bank and Himalayan Bank have received the letter of intent from the Nepal Rastra Bank (NRB) to open representative offices abroad, while NMB Bank is awaiting such an a...  [more...]
Profits of commercial banks have almost increased by half as they have enjoyed fewer bad loans in the third quarter. Class ‘A’ financial institutions have recorded pro...  [more...]
The due diligence for the merger of five regional development banks has revealed that their per unit share value varies from Rs 1.02 to Rs 140. Pashchimanchal Grameen Bikas Bank's...  [more...]
Deposit mobilisation of banks and financial institutions has slowed down.Deposit mobilisation of banks and financial institutions increased by 8.4 per cent (Rs 85.44 billion) in th...  [more...]
Real sector companies listed at the stock exchange have registered a substantial profit growth in the third quarter, signalling chances of them distributing attractive dividends to...  [more...]
Global IME Bank and Social Development Bank on Tuesday signed memorandum of understanding (MoU) for their merger . The move comes a year after Global Bank, IME Financial Instituti...  [more...]
The World Bank (WB) has appointed Johannes Zutt as its new country director for Nepal and Bangladesh. Zutt joined the WB office in Kathmandu on Tuesday. Zutt, a Dutch national, ha...  [more...]
The inflation rate has dropped to single digit for the second time in nine months of the current fiscal year, thanks to moderation in the price of non-food items. The 9.5 percent ...  [more...]
The Federation of Nepal Gold and Silver Traders Association has asked government to hike the import quota of gold to control black marketing of the precious metal. A delegation fr...  [more...]
The commodity market is unlikely to be regulated anytime soon as the Law Ministry has rejected the idea of controlling it by issuing a regulation. Speculative trading in commodity ...  [more...]
Cooperatives have been biting the dust due to their shenanigans in a trend that has rocked the country’s financial sector. In the latest incident, Oracle Savings and Credit C...  [more...]
Amid tightening liquidity situation in the banking system, institutional depositors are making it hard for banks and financial institutions (BFIs) to get deposits at cheaper rates....  [more...]
The police have arrested two staff of the Bharatpur branch of Himalayan Bank Ltd (HBL) on charges of embezzling clients’ deposits. Branch Supervisor Sher Bahadur Thapa and ju...  [more...]
The central bank has allowed academicians involved with government owned universities to hold a position on board of any financial institution (FI). Issuing a circular, Nepal Rast...  [more...]
The International Monetary Fund (IMF) and the World Bank (WB) are expected to soon inform Nepal about the country´s enrolment in the Financial Sector Assessment Program, unde...  [more...]
The exposure of financial institutions to deprived sector lending has declined in the month following the second quarter, states central bank. The portfolios of financial institut...  [more...]
Noted industrialist Binod Chaudhary is attending the Forbes 400 Media Summit to be held at the United Nations on June 5. Chaudhary was recently declared as billionaire by Forbes ma...  [more...]
Although the banking system usually sees higher liquidity during the last quarter of the fiscal year, commercial banks are facing liquidity tightness in recent days. Generally, ba...  [more...]
Lalitpur: In a bid to generate interest of retail investors in the alternative investment instrument, the Securities Board of Nepal (Sebon) -- the securities market regulator -- ha...  [more...]
Mountaineers Horacio Galanti and Horacio Cunietti have commenced a unique Himalayan expedition to summit Everest to mark the 60th anniversary of its first ascent. The expedition wi...  [more...]
Hydroelectric Investment and Development Company (HIDC) has been conducting studies to possibly finance three more hydropower projects after funding the 42 MW Mistri Khola project....  [more...]
´BoK Bond 2076´ has been oversubscribed, Bank of Kathmandu (BoK) said in a statement. The bank had floated 400,000 units of bonds worth Rs 1,000 each to raise Rs 400 mi...  [more...]
Despite being touted as a miracle cure for all ailments troubling financial institutions, mergers have failed to improve the performance of almost a dozen financial institutions. ...  [more...]
Deposits at commercial banks have fallen to near one-month low, as cash locked up in the government´s treasury due to slow capital spending tightened money supply for categor...  [more...]
Banks can counter high shocks-CAR of class A,B and C institutions satisfactory The central bank has claimed that banks have sound financial health.“The stress test results o...  [more...]
The draft of a guideline that will pave the way for international financial institutions to raise money from the domestic market for long-term development financing is being fina...  [more...]
Finance Minister Shankar Koirala has asked the development partners to increase their aid in hydropower development, apart from focusing on grant rather than loan. During a meetin...  [more...]
The Nepal Rastra Bank (NRB) took action against 11 finance companies in the last 19 months for their failure to comply with the existing laws and the central bank’s directive...  [more...]
Maintaining the regulatory credit to deposit ratio (CD Ratio) seems to have got banks into restraining their lending in the third quarter of the current fiscal year. The credit to...  [more...]
Nepal Rastra Bank (NRB) Governor Yubaraj Khatiwada said on Saturday the central bank will take measures to ensure the separation of bankers and businessmen within the next three ye...  [more...]
The central bank has hiked the capital charge of banks and financial institutions to mitigate growing operational risks. As most banks and financial institutions have been exposed...  [more...]
Loan mobilization of commercial banks has increased greatly after the second trimester of the current fiscal year with deposits rising by Rs 20 billion and loans by Rs 46 billion i...  [more...]
Nepal Rastra Bank (NRB) has decided to invest in various debt instruments of the People’s Bank of China in a reflection of the rising trade relations between the two countrie...  [more...]
The Siddhartha Mutual Fund is set to bring a second scheme named ‘Siddhartha Equity Oriented Scheme’ worth Rs 800 million. Siddhartha has applied to the Securities Boa...  [more...]
When Nepal Rastra Bank (NRB) introduced merger guidelines for banks and financial institutions (BFIs) one and a half years ago, there was apprehension whether they would be willing...  [more...]
Nepal Rastra Bank (NRB) has said that banks and financial institutions should stay away from donating funds to political parties as the cost of making such contributions would ulti...  [more...]
KIST Bank and Vibor Bikas Bank have sought letter of intent (LoI) from Nepal Rastra Bank (NRB), the banking sector regulator, to take the merger process between the two institution...  [more...]
Due to the absence of clearing members, and only a few registered companies and dematerialised account holders, the full automated operation of CDS and Clearing Ltd (CDSC) will not...  [more...]
Nepal Rastra Bank´s overseas investment in gold shot up by close to 100 percent in the one-year period to mid-March, as the country´s central bank diversified its inves...  [more...]
The Ministry of Agriculture Development is preparing to introduce the ‘Interest Subvention Scheme’ under which it will provide three percent discount to farmers on inte...  [more...]
The central bank, today, approved the proposed merger of two commercial banks — NIC Bank and Bank of Asia Nepal — to become NIC Asia Bank. The board meeting of Nepal R...  [more...]
Nepal Rastra Bank ( NRB ) Governor Yuva Raj Khatiwada on Thursday advised bank directors “either to become a banker or a businessman”, saying their dual role has been &...  [more...]
KRITI BHUJU Is there any trader who will not be pleased to see a crowd of potential customers in their shop? A unique phenomenon was seen this week in gold and jewelry markets in N...  [more...]
Loan disbursements by banks and financial institutions (BFIs) jumped 14.1 percent in the first eight months of the current fiscal year to mid-March buoyed by higher credit demand i...  [more...]
Credit to the agriculture sector has doubled, and to the industrial production sector has also surged lately. “Of the total lending of banks and financial institutions, cred...  [more...]
One and half years after the signing of an agreement with Nepal, EXIM Bank of India has finally confirmed that it will soon release a Line of Credit worth $250 million to Nepal t...  [more...]
The general public continue to suffer through a continuous price rise as inflation remained at a double digit at 10.2 per cent by mid-March. The year-on-year consumer price index ...  [more...]
The CDS and Clearing Ltd has formally started electronic trading, clearing and settlement of securities. Minister for Finance Shankar Prasad Koirala inaugurated the service known ...  [more...]
Incident 1 On March 18, the Metropolitan Police Range, Hanuman Dhoka arrested Naresh Lamgade of Anarmani, Jhapa for allegedly hacking into the accounts of Nabil Bank’s custom...  [more...]
After introducing the National Cooperative Policy 2013 that has given priority to merger between cooperatives, the Department of Cooperatives (DoC) is all set to introduce a merger...  [more...]
Eight companies have applied to the Securities Board of Nepal (Sebon) for its approval to do their initial public offering (IPO). The IPOs have a combined worth of Rs 1.45 billion....  [more...]
Bardia: Krishna Prasad Bhattarai, a farmer in Thakurdwara, Bardia district, calls his daughter in Kathmandu on his cell phone and tells her that he has transferred Rs 15,000 to her...  [more...]
Despite a significant growth in the number of debit/credit cardholders, Nepali customers still prefer to pay by cash . Both bankers and merchants say the number of people making me...  [more...]
Nabil Investment Banking — fund manager of Nabil Balanced Fund I and a merchant banking subsidiary of Nabil Bank — has allotted its mutual fund units in less than 15 wo...  [more...]
National Banking Training Institute (NBTI), jointly with International Finance Corporation of World Bank Group, will host first ever Directors’ Conference on April 18. The c...  [more...]
The lusterless full budget did not bring any expected changes for the capital market due to the absence of major policies and programmes. The capital market was expecting the full...  [more...]
International Finance Corporation (IFC), a member of the World Bank Group, has launched a training initiative for banks in Nepal, helping them address the financing needs of small ...  [more...]
The government has announced a full budget of Rs 404.82 billion for the current fiscal year, allaying fears of fiscal strains that absence of a complete fiscal policy could have le...  [more...]
The full budget that Finance Minister Shankar Prasad Koirala on Tuesday has received mixed reactions. While the private sector representatives have welcomed the budget, economists ...  [more...]
Though the crimes related to ATM fraud are on the rise, including the misuse of the visa and master cards, the banks refuse to acknowledge the problem fearing loss of reputation. ...  [more...]
Nepal Bank Ltd (NBL) is planning to float right shares soon.“Nepal bank will issue right share soon after mid-April,” informed the coordinator of Nepal Bank Maheshwor L...  [more...]
The Nepali banking sector seems to be going through a déjà vu as the central bank is moving forward with guidelines for employee management of financial institutions ...  [more...]
RUPAK D SHARMA On January 7, a group of unidentified men vandalized an SUV that Rajan Singh Bhandari, the CEO of Citizens Bank International, was traveling on in Kathmandu. On Mar...  [more...]
Staffers of banks and financial institutions will not take home salaries less than that of government employees in the same position, if the Nepal Rastra Bank’s ( NRB ) new g...  [more...]
The primary market is gearing up for more than 15 initial public offerings (IPOs), while investors are eager for bigger IPOs but giving a cold shoulder to small offerings of region...  [more...]
Transfer of dematerialised shares has become less expensive for investors due to the recently amended bylaws of CDS and Clearing Ltd (CDSC) as it is ready to start electronic settl...  [more...]
Rural Microfinance Development Centre (RMDC) is going to be the third company — after Chilime Hydro and Nepal Telecom — and the first financial institution to issue pri...  [more...]
Nepal Rastra Bank (NRB), the central monetary authority, has decided to take the management of Nepal Bank Limited (NBL) for one more year, stating that the process of raising paid-...  [more...]
NIC Bank has signed a ‘Bond Issue Management Agreement’ with Nabil Investment on Monday for the issuance of NIC Bond 2076 worth Rs 500 million with a coupon rate of eig...  [more...]
Nepal Rastra Bank Governor Yubaraj Khatiwada has stressed on the need for setting up a specialised body to regulate and supervise cooperatives amid increasing fraudulent activities...  [more...]
New Delhi: The recent decision of nine commercial banks to reduce debit card transaction limits has affected their customers in India. The worst affected are students, patients and...  [more...]
Companies managing mutual funds have found brokerage fees to be exorbitant.According to the prospectus of Nabil Balanced Fund I, the mutual fund is expected to pay Rs 17.2 million ...  [more...]
Following illegal cash withdrawals from Nepal Investment Bank Limited (NIBL) using fake debit cards, nine commercial banks, including NIBL, have lowered the debit card transaction ...  [more...]
Laxmi Cares -- an NGO associated with Laxmi Bank -- is organizing a mountain bike rally on April 6. "The Laxmi Cares Mountain Bike Rally is a part of the "Ujyaalo Abhiyaa...  [more...]
Similar interest rates being offered for savings and fixed deposit accounts by financial institutions have sped up the growth rate of savings deposits, while fixed deposits have re...  [more...]
Nepal Rastra Bank (NRB) will not slap commission and SWIFT charges on trade-related payments made by banks and financial institutions here to parties in member countries of the Asi...  [more...]
Nepali capital market is not yet ready for open-ended mutual funds despite emergence of a couple of close-ended mutual funds. “Close-ended mutual fund schemes have worked we...  [more...]
Commerz and Trust Bank Nepal has allotted six million units of its ordinary shares to the public today.Some 70,850 applicants have applied for over 68.24 million units of shares. ...  [more...]
A mutual fund product launched by Nabil Invest, the investment arm of Nabil Bank, has been oversubscribed by 3.92 times, indicating growing interest for investment vehicles other t...  [more...]
Hong Kong: At a time when businesspeople are saying political instability and insecurity is hindering fresh investment in Nepal, non-resident Nepalis have launched a campaign to tu...  [more...]
Nabil Bank’s Nabil Balanced Fund I has been well received by the public.The new fund offer for Nepal’s second mutual fund — Nabil Balanced Fund I worth Rs 600 mil...  [more...]
The government is planning to ban people who have been blacklisted by the banks and financial institutions from leading cooperatives. An advisory committee led by joint secretary...  [more...]
The Investment Board of Nepal (IBN) is devising phase-wise programs to attract foreign investment in the country. “We are holding discussions with top level officials from c...  [more...]
Kist Bank and Vibor Bikas Bank have agreed to merge, in a move that will support Jyoti Group’s bid to acquire the largest stake in Kist. Kist Managing Director Kamal Gyawali...  [more...]
In an indication of foreign investors’ renewed interest in Nepal, foreign direct investment ( FDI ) commitments in the first-six month of current fiscal year have already sur...  [more...]
Two leading private sector bodies — Federation of Nepalese Chambers of Commerce and Industry ( FNCCI ) and Confederation of Nepalese Industries (CNI) — on Thursday urge...  [more...]
Government is preparing to set a deposit limit for savings and credit cooperatives. An advisory committee led by joint secretary of the Ministry of Finance Baikuntha Aryal has pro...  [more...]
In the first seven months of the current fiscal year, the growth rate of loans floated by the financial sector to the hotel sector decreased by half as compared to the previous yea...  [more...]
Despite the constant push from the central bank, financial institutions have not been able to fulfil deprived sector lending obligation. The designated deprived sector loans compr...  [more...]
Civil Bank, to aid financial requirements of small and medium-sized businesses, has launched ‘Civil SME Loan, 6 Days to Cash’ scheme. “The new scheme enables smal...  [more...]
Nabil Invest, the investment arm of Nabil Bank, is launching a mutual fund called ´Nabil Balanced Fund I´ on Wednesday. The scheme worth Rs 600 million will expire afte...  [more...]
The 15th annual general meeting of NIC Bank held in Biratnagar on Tuesday approved the proposal to merge with Bank of Asia with a share swap ratio of 2:1. This means two shares of ...  [more...]
Recently, when Nabil Bank tied with up International Marketing Services to offer Samsung Galaxy Grand Duos at a zero-interest loan to the bank´s credit card holders, around 4...  [more...]
Lending of banks and financial institutions went up by 12.6 percent over the first seven months of the current fiscal year, as slight reduction in credit rates raised demand for lo...  [more...]
The proposed NIC Asia Bank is expected to come into operations within this fiscal year. The first merger of two commercial banks — NIC Bank and Bank of Asia Nepal — ha...  [more...]
H&B Development Bank has planned to increase its paid-up capital in anticipation of huge payouts due to large-scale fraud committed by former employee Niraj Nepal. He engaged i...  [more...]
Birgunj: The land put up as collateral by the accused in the Indian Currency (IC) misappropriation scam for their release on bail has been overvalued, it has been found. The Depar...  [more...]
Depositors can expect interest rates to go up as signalled by rising interbank lending rate among financial institutions brought on by tighter liquidity. The rate has shot up to n...  [more...]
Though mutual funds are safer investment tools, people still have to be well informed of the background of sponsors and fund managers before investing in any scheme, according to P...  [more...]
The country’s balance of payments (BoP) surplus declined by Rs 4.51 billion in the seventh month (mid-January to mid-February) of the current fiscal year. The BoP surplus fe...  [more...]
With commercial banks offering lower interest rate on deposits, development banks and finance companies are expriencing healthy growth in their deposits due to relatively higher in...  [more...]
Mega Bank has launched Mega IPO Savings Account as a prelude to its initial public offering (IPO) to make it convenient for potential subscribers to deposit their application money...  [more...]
The Bank of Kathmandu ( BoK ) on Thursday relaunched its mobile banking service M-PAISA in association with Hello Paisa Network of Finaccess with added features and services. Accor...  [more...]
Lotus Investment Finance has requested the Securities Board of Nepal (Sebon), the secondary market regulator, to allow it to return back the money raised from the public through ...  [more...]
Nearly half the listed companies have not held their annual general meetings (AGM) on time as industry regulations clash with the ones spelt out by the capital market regulator. A...  [more...]
How actively are the country´s commercial banks earning from activities other than sales of loans and investment in government bills? And what contribution are these incomes ...  [more...]
A year after merging its Bhajuratna Finance with Vibor Bikas Bank, Jyoti Group is all set to enter the banking sector in a big way. The group is preparing to acquire a major stak...  [more...]
NIBL Capital Markets Limited, a subsidiary of Nepal Investment Bank Limited, has signed a joint cooperation agreement (JCA) with Finnacle Capital Advisors, India (Finnacle). NIBL C...  [more...]
In order to protect investors from transaction and settlement losses, the capital market regulator is pushing for a settlement guarantee fund instead of insurance coverage. &ldquo...  [more...]
The flow of new account openers at banks is still slow even though Nepal Rastra Bank (NRB) has relaxed the know your customer (KYC) requirements. Extra paperwork imposed by the cen...  [more...]
The newly introduced National Cooperative Policy-2013 aims to promote non-profit cooperatives, particularly related to the agriculture sector, while controlling profit-oriented one...  [more...]
The Nepali capital market will receive another mutual fund within the next couple of weeks. Nabil Investment — a merchant banking subsidiary of Nabil Bank — will launc...  [more...]
Commercial banks will find it hard to lend in the coming days unless their deposit collection improves. As of last week, the credit-to-deposit (CD) ratio of the banks’ reache...  [more...]
Kathmandu Finance and Civil Merchant Bittiya Sanstha have given up their plan to merge over differences regarding the value of their shares. The prospective merger candidates decid...  [more...]
Laxmi Bank has expanded its ´low cost housing´ service to Pokhara encouraged by its implementation in Tansen municipality. Issuing a statement on Thursday, the bank sa...  [more...]
Banking and financial crimes have suddenly jumped up over the past few years, leading to an increase in the numbers of court cases. A whopping 178 cases have been filed at the Com...  [more...]
The agriculture sector seems to have caught the fancy of financial institutions of late as the amount of loans extended to the sector has gone up by almost 30 per cent in the first...  [more...]
The Central Investigation Bureau (CIB) on Tuesday arrested Keshab Narsingh Rajbhandari, former managing director of Baibhab Finance Limited, on charges of extending Rs 60 million t...  [more...]
Standard Chartered PLC announced a 10th consecutive year of income, profit and dividend growth. With operations in many of the world’s most dynamic economies, the company now...  [more...]
The tiny Himalayan nation of Nepal (population:30 million) , among the poorest countries in the world,  has produced its first billionaire in Binod Chaudhary, chairman of the ...  [more...]
Deputy governor of Nepal Rastra Bank Maha Prasad Adhikari has said that executive members of cooperatives absconding with deposits has emerged as a major problem in the country. Th...  [more...]
Industrialist Binod Chaudhary has made it to the 2013 Forbes billionaires list, becoming the first Nepali to be listed by the American magazine, with his net worth said to be $1 ...  [more...]
Staff expenses at state-run commercial banks have gone through the roof due to overstaffing, hitting their profitability. Staff expenses of Nepal Bank Limited, Rastriya Banijya Ba...  [more...]
A little more than two dozen finance companies and development banks registered losses in the second quarter as they strained under provisioning for bad loans. Among the licensed ...  [more...]
Most cooperatives have not been distributing dividends from their preserved fund which is the sum remaining after deducting profits. As per the Cooperative Act 1992, the money rema...  [more...]
The government will soon reach a conclusion on allowing Nepal´s development partners to issue local currency bonds, finance secretary Santa Raj Subedi has said. He made the ...  [more...]
Nepal Stock Exchange (Nepse), the sole stock market operator in the country, has listed 1.4 million units of shares of Bright Development Bank. The bank floated the shares in the p...  [more...]
Nepal Investment Bank Limited (NIBL) on Thursday launched NIBL branchless banking service from Marchawar, Majhgawa, Rupandehi. The bank aims to establish a well secured countrywide...  [more...]
On November 12 last year, Nepal Rastra Bank (NRB), the central monetary authority, made a groundbreaking move by directing commercial banks to reveal base rates when they publish...  [more...]
Four financial institutions (FIs), namely, Manakamana Development Bank, Infrastructure Development Bank, Yeti Finance and Valley Finance signed a memorandum of understanding to mer...  [more...]
Prudential Finance Co and Gorkha Finance have entered into an agreement to merge and start business with a new identity from March 21. After the merger is completed, the total paid...  [more...]
Nabil Investment Banking, a subsidiary of Nabil Bank , is at the final stages of issuing mutual funds worth Rs 600 million. This will be the second issuance of mutual funds after S...  [more...]
The bullish stock market has prompted financial institutions to increase loans floated against shares in the first half of the fiscal year. Even without the participation of comme...  [more...]
Nepal Rastra Bank, the banking sector regulator, has introduced an operation directive for the Rural Self-Reliance Fund (RSRF) -- a state-owned wholesale lender -- that, among othe...  [more...]
Credit floated by financial institutions to the private sector has jumped notably as a significant rise in imports has fuelled the demand for trade financing. The first half of th...  [more...]
Banepa: The Division Cooperatives Office, Kavre, has dissolved six cooperatives in Kavre, to be effective from today. According to Chief at the Division Cooperatives Office, Kavre...  [more...]
A tight liquidity situation in the banking sector has prompted a number of bank s to obtain standing liquidity facility (SLF) from the central bank for the first time in a year. Th...  [more...]
Investors will now find it easier to make decisions while buying shares of upcoming public issues as credit rating has been made mandatory. The capital market regulator — Se...  [more...]
Mega Bank Nepal Ltd will from now on provide micro, SME and retail loans to medical entrepreneurs of Bagmati zone. It has been designated as the partner bank of Nepal Chemists and...  [more...]
The government is planning to ban advertisements of cooperatives in the backdrop of increasing number of frauds in the sector. The Department of Cooperatives has drafted a directiv...  [more...]
Employees on the government payroll will not be allowed to hold a position at the board of any financial institution (FI) from now on. Issuing a circular today, Nepal Rastra Bank ...  [more...]
Nepal Rastra Bank (NRB) has revised targets for economic growth, inflation, deposit growth and internal credit growth rate set by the monetary policy. The revision comes through a ...  [more...]
With banks and financial institutions (BFI) grappling with operations risks of late, Nepal Rastra Bank has directed them to arrange extra capital as a precautionary measure. Latel...  [more...]
Nepal Rastra Bank (NRB) is set to wait some more when it comes to issuing repo to comfort banks that are facing stress in liquidity of late. The Nepal Bankers’ Association (N...  [more...]
The government has slashed the economic growth forecast by one percentage point for this fiscal year amid disappointing government expenditure and slowdown in economic activities.T...  [more...]
Commerical Banks's Q2 Report Card includes 1. Deposit, 2. Lending, 3. Net Profit, 4. NPA, 5. CD Ratio, 6. Provisioning source: The Kathmandu Post,17 Feb 2013...  [more...]
Commercial banks have yet again surprised the financial sector, as they together posted a whopping 44.68 percent hike in net profits in the first half of the current fiscal year. ...  [more...]
The number of firms and individuals blacklisted by the Credit Information Bureau (CIB) has surged following the downsizing of default limit to Rs one million. Since Nepal Rastra B...  [more...]
With tightening liquidity in the banking system, the Nepal Rastra Bank (NRB) has sought plans from a few banks (those having less than 20 percent net liquidity ratio) to restore a ...  [more...]
Commerz and Trust Bank is issuing an initial public offering (IPO) worth Rs 600 million on Sunday. The bank will issue six million general shares. Of the total shares allocated fo...  [more...]
Nepal Rastra Bank ( NRB ) has started homework to revise the Negotiable Instrument Act 1977 to address frauds perpetrated by using cheque, draft and other negotiable instruments. ...  [more...]
The liquidity strain felt by the banking sector has worsened as excess money held by banks and financial institutions fell to Rs 7.5 billion on Tuesday from around Rs 10 billion a ...  [more...]
Nepal with its unique resources and location is an attractive investment destination for the foreign investors, according to the private sector players. Some of the key sectors li...  [more...]
Nepal Bank Limited (NBL) is all set to issue a notice to sell its fixed assets in different parts of the country to increase paid-up capital. Besides collecting capital through rig...  [more...]
Chitwan: Nepal Rastra Bank (NRB) Governor Dr Yuba Raj Khatiwada on Sunday said micro finance institutions (MFIs) themselves are to be blamed for growing anomalies in the micro fina...  [more...]
With an increasing number of saving and credit cooperatives landing in trouble, the government is mulling moratorium on registration of such cooperatives in urban areas. The gover...  [more...]
The Nepal Rastra Bank (NRB) has simplified the Know Your Customer (KYC) provision for banks and financial institutions (BFIs). The move follows complaints that the stringent rules,...  [more...]
Everest Bank will be the cheapest bank to get loans from, whereas Century Commercial Bank will be the most expensive, according to the base rate of some 20 banks. Everest Bank&rsq...  [more...]
The ability of banks and financial institutions to provide loans is gradually eroding, as a huge chunk of excess liquidity that they earlier held is now locked up in the central ba...  [more...]
Though a global report has claimed that clients of microcredit is declining, the number of domestic microcredit borrowers has increased. In 2011, some 13 million fewer of the worl...  [more...]
NB Group’s exit from Nepal Bangladesh Bank (NB Bank) seems imminent, with key promoter International Finance Investment and Commerce (IFIC), a Bangladesh-based commercial ban...  [more...]
The Ministry of Cooperatives and Poverty Alleviation (MoCPA) has been working to formulate a working guideline for a deposit security fund, credit security fund and credit informat...  [more...]
Nepal Rastra Bank has declared Battisputali-based Capital Merchant Banking and Finance as a troubled entity. The banking sector regulator in August 2011 had taken prompt correctiv...  [more...]
Six months after signing a memorandum of understanding (MoU), NIC Bank and Bank of Asia Nepal (BoAN) signed a merger agreement on Thursday. NIC chairman Jagadish Prasad Agrawal an...  [more...]
Of the five government-owned financial entities from which the Ministry of Finance had sought business plans and investment strategies, two have submitted their plans. Three others...  [more...]
Nepalis can now legally acquire zero-interest loans of up to US$ 200,000 (about Rs 17.29 million) from individuals, relatives, organizations and institutions based abroad. Nepal R...  [more...]
The Nepal Rastra Bank (NRB) has fixed certain criteria for commercial banks to open liaison or representative offices abroad, making it clear that only the financially sound banks ...  [more...]
A total of 38 percent of the country’s population now has bank accounts, up from 26 percent in 2006, the latest Nepal Rastra Bank (NRB) statistics have shown. The figure, ho...  [more...]
Global IME Bank has listed 10 per cent of issued debentures totalling 40,00,000 units with a face value of Rs 1,000 per unit at Nepse. The debentures attract 10 per cent interest...  [more...]
Despite its share of problems, Nepal is offering good returns to the investors, according to the president of FNCCI. Inviting the potential investors to invest in Nepal during CII...  [more...]
Nepali capital market will be witnessing another major public offering within next two weeks. Commerz and Trust Bank Nepal (CTBN) will launch its Initial Public Offering (IPO) befo...  [more...]
The government has decided to form a high-level committee to investigate Oriental Cooperative after receiving daily complaints against it. Depositors have been asking the governmen...  [more...]
The government is preparing to authorize the Nepal Investment Board (NIB) to independently handle 14 mega projects after the latter faced implementation hurdles due to lack of coop...  [more...]
Nepal has dropped down the global budget transparency index as the government continues to make it harder for citizens to understand and influence budget decisions affecting their ...  [more...]
The police will on Friday file a case against 14 persons found involved in banking fraud worth Rs 1.09 billion in H&B Development Bank, including chief accused Niraj Nepal, imm...  [more...]
The finance minister has expressed that merger between financial institutions cannot be forced. “A merger between two financial institutions cannot be undertaken with force ...  [more...]
The Rastriya Banijya Bank (RBB) has good news for its clients using its ATM services on the occasion of its 48th anniversary. With the start of this service from Wednesday, the RB...  [more...]
Parsa: Parsa-based traders have complained that the Nepal Rastra Bank’s ( NRB ) ban on 13 branches of nine commercial bank s from carrying out Indian currency (IC) transactio...  [more...]
The Department of Cooperatives ( DoC ) has begun taking up the matter of cash-strapped cooperatives falling behind in repaying their depositors with the operators after a number of...  [more...]
The deposit interest rate, that is already painfully low, is expected to further decline as banks now are under pressure to maintain lower base rate. At present, only a few banks ...  [more...]
The 6th Human Resources (HR) Meet is being organized in Kathmandu on February 7. Growth Sellers - the organizer of the event - is expecting more than 200 participants representing...  [more...]
Rastriya Banijya Bank (RBB) has launched a new product ‘Rastriya Sewak Karja’ targeting government officials. The loan service is aimed at officials of government agen...  [more...]
Agricultural Development Bank Limited (ADBL) has improved its financial health by reducing its non-performing loans (NPL) to 6 percent as of mid-December from 9 percent at the end ...  [more...]
Even though commercial banks have yet to enter margin financing for share purchase, the amount of loans floated against shares has gone up. The amount of loans floated by financia...  [more...]
The Nepal Rastra Bank (NRB) has initiated homework to amend the Banking Offence and Punishment Act 2008 to update it as per the changed context. Over the last five years, there ha...  [more...]
The International Finance Corporation (IFC) has started pushing the government to incorporate reform programmes in coordination with the private sector. “Nepal Business Fo...  [more...]
Nepal Rastra Bank ( NRB ) plans to simplify the know-your-customer (KYC) format after banks and financial institutions  complained that its cumbersome provisions were discoura...  [more...]
Ratnagar: Two persons were robbed at Chitwan-based branch office of the Himalayan Bank on Thursday. Bhushan Kumar Gupta of Bharatpur, Chitwan and Keshav Prasad Mainali of Gaindako...  [more...]
Gold price, which remained almost stagnant for over a week, jumped by Rs 600 per tola (11.664 grams) in the domestic market on Wednesday to reach Rs 59,000. The precious yellow met...  [more...]
Nepal Rastra Bank (NRB) Governor Dr Yubaraj Khatiwada said the central bank was making efforts to encourage commercial banks to extend credit to the agriculture sector. Khatiwada a...  [more...]
The government is developing a guideline to support the merger of cooperatives as their number has crossed 25,000 across the country. The Department of Cooperatives is developing ...  [more...]
To finance small and medium enterprises (SMEs), Bank of Kathmandu (BoK) and beed have established a venture fund — Business Oxygen (BO2). The venture fund will finance busin...  [more...]
Lahan: Nepal Rastra Bank ( NRB ) Governor Yubaraj  Khatiwada said on Tuesday that many policies related to micro-finance have remained stranded as proposed Micro-Finance Act c...  [more...]
Pramila Shah would have never realised that her household help had used her ATM card to withdraw money from her account, had she not received an SMS alert from her bank. The 58 ye...  [more...]
The Department of Cooperatives, in a desperate attempt to check anomalies in the cooperative sector, is set to introduce a stringent policy that will bar persons blacklisted by the...  [more...]
Nepal Rastra Bank (NRB) has sought a convincing long-term business plan from Rastriya Banijya Bank (RBB), warning that the failure to do so would invite similar treatment to the st...  [more...]
It looks like depositors, who had started withdrawing money from commercial banks following interest rate cuts, have started acclimatizing themselves to the low-yield climate. This...  [more...]
Fonepay, a subsidiary of software developer F1 International, has unveiled ´mobile wallet´, a service that allows customers to deposit and withdraw money, and make paym...  [more...]
Bhaktapur: A group of unidentified men looted Rs 523,000 from the Rastriya Banijya Bank at Sano Thimi in Bhaktapur on Saturday night.  DSP Binod Kharel said that the initial...  [more...]
Civil Bank Ltd has allotted its ordinary shares to the public. It has distributed eight million units of ordinary shares to 57,588 subscribers based on Proportionate Securities All...  [more...]
The initiative taken by the Securities Board of Nepal (Sebon) to introduce a law to regulate commodities and derivatives markets has fizzled out for now, as the Ministry of Law and...  [more...]
Investors will have to hold on to share certificates for some more time as dematerialised share transfer will not be possible in the immediate future. Nepal’s only central d...  [more...]
The 26th AGM of Nepal Investment Bank Ltd (NIBL) has approved five per cent cash dividend (Rs 150.64 million) and 25 per cent stock dividend (Rs 753.23 million) from the profits of...  [more...]
Mega Bank Nepal held its second annual general meeting (AGM) on Wednesday under its chairman Prof Dr Madan Kumar Dahal. The AGM approved the issuance of 6.99 million shares worth R...  [more...]
Members of Nepal Bankers´ Association (NBA) on Wednesday met with Prime Minister Dr Baburam Bhattarai and briefed him about the recent attack on their president, Rajan Singh ...  [more...]
The Nepal Rastra Bank (NRB) has declared two finance companies — Himalaya Finance and Kuber Merchant Finance — as crisis-ridden after their financial status deteriorate...  [more...]
Private sector umbrella organizations have condemned the attack on Rajan Singh Bhandari, president of Nepal Bankers´ Association (NBA) and CEO of Citizens Bank International,...  [more...]
Stockbrokers and merchant bankers will now have to scrutinise their clients for any instances of money laundering. Securities Board of Nepal (Sebon) — the capital market reg...  [more...]
The latest stress tests of commercial banks carried out by the Nepal Rastra Bank (NRB) have shown some improvement compared to previous year’s results, especially due to the ...  [more...]
Credit Information Bureau (CIB) held its eighth annual general meeting that decided to give 10 per cent cash and 20 per cent stock dividend to its promoter shareholders from the pr...  [more...]
Incidences of increased banking frauds have increased the number of white collar criminals in prisons. The number of culprits nabbed by Central Investigation Bureau (CIB) involved ...  [more...]
One-third of the existing bank branches are serving only the population of the valley while far flung districts are devoid of the service. There are 659 branches of financial inst...  [more...]
The Insurance Board (IB) has summoned board of directors of NB Insurance to seek clarification over the latter´s failure to restore misappropriated sum of Rs 35.3 million in ...  [more...]
Millions of rupees have been stolen from the accounts of depositors at Himalayan Bank Limited (HBL) through fraudulent use of debit cards . The bank has blocked all operations of i...  [more...]
Nepal Rastra Bank has barred at least 13 branch offices of nine commercial banks from conducting Indian Currency (IC) transaction for indefinite period of time for maintaining lax ...  [more...]
At least nine finance companies have exhausted their reserves, where profits made over the years are parked, in a sign they may eventually land up in trouble if corrective measures...  [more...]
Though late, the central bank has decided to take over the management of Gurkha Development Bank to save the ailing class ‘B’ financial institution from liquidation. &...  [more...]
Manakamana Development Bank (MDB) on the auspicious occasion of New Year 2013, has launched new deposit products ‘Manakamana Ujjwal Bhabisya Muddati’ and ‘Manakam...  [more...]
The new leadership of the Confederation of Nepal-ese Industries (CNI) has vowed to continue lobbying with the government to allow Nepalis to invest abroad. CNI president Narendra ...  [more...]
Banepa: Three-day long Cooperative Festival kicked off in Banepa on Saturday with the aim of promoting farmers and cooperatives by facilitating sales of goods and services they pro...  [more...]
Kavre: The government plans to unveil a new cooperative policy within a week. This was revealed by Finance Minister Barsha Man Pun while inaugurating the Cooperative Festival in Ba...  [more...]
Although Nepal has been categorised among the countries that are making progress in addressing deficiencies in their Anti-Money Laundering/Combating the Financing of Terrorism (AML...  [more...]
As the Nepali capital market is getting ready to receive more mutual funds, the central bank has recognised mutual funds as an investment instrument for financial institutions. Ne...  [more...]
The Central Investigation Bureau of Nepal Police today cracked the mystery surrounding the December 21 robbery drama in Bank of Kathmandu, Tulsipur, Dang, leading to arrest of four...  [more...]
Everest Bank Limited (EBL) on Wednesday appointed former Miss Nepal Sadichha Shrestha as its brand ambassador to promote its products and services. On the occasion, the bank launc...  [more...]
An accommodative monetary policy in fiscal year 2011-12 had allowed banks additional space to rebuild profitability, but inflation and exchange risks are on rise, suggesting the ...  [more...]
The six-month dispute between Lotus Investment Finance and Civil Capital Market over underwriting of shares that remained unsubscribed in an initial public offering (IPO) is likely...  [more...]
It will soon be easy for prospective borrowers to choose bank from which to borrow as commercial banks are readying the base rate to be published from mid-January. “Banks ha...  [more...]
Nepal Rastra Bank (NRB) is mulling over the ultimate decision on the fate of troubled Gurkha Development Bank. “We at the central bank are ready to decide on the right step f...  [more...]
H&B Development Bank has identified one Manoj Chaurasia as the main culprit in good for payment check scam at its Kuleshwar branch. Although the category ´B´ finan...  [more...]
Pokhara: Api Finance of Kaski, Royal Merchant Banking and Finance of Kathmandu and Rara Development Bank of Surkhet have ramped up merger process to create a national-level develop...  [more...]
Dang:Bank employees are found to have been involved in the Friday’s robbery at the Tulsipur branch of Bank of Kathamandu, police said. Police also recovered Rs 8.68 million ...  [more...]
The introduction of a commodities market regulation is getting delayed as authorities are in a dilemma on whether to regulate the exchanges through a regulation or wait for an amen...  [more...]
Although cooperatives are primarily supposed to operate in rural areas, they are heavily concentrated in the Kathmandu valley. The country’s 19 percent of the cooperatives (5...  [more...]
Himalayan Bank Ltd (HBL) and Bhatbhateni Supermarket (BBSM) have introduced HBL BBSM Co-Brand Visa debit card service for customers visiting BBSM outlets. The new card — that...  [more...]
Exporters are now hopeful about receiving cash incentives from their respective banks on the basis of export documents. “We are pleased to know that the working committee fo...  [more...]
Nepal Rastra Bank ( NRB ) issued strict directives on the issuance of good for payment cheques on Friday even as the