My Republica

Sagar Ghimire

Ghimire is associated with Republica, English National Daily, since November 2013. He reports and writes on banking, financial, cooperatives, labor, foreign employment and Mount Everest expedition issues.     
Twitter: @sagarghi

sagar.use@gmail.com

Bank interest, minister statement blamed for new low in Nepse

March 27, 2018 06:00 AM

KATHMANDU, March 27: Nepal Stock Exchange (Nepse), the only stock market of the country, crashed on Monday as the benchmark index plunged 51.89 points, or 4.25 percent, on a single day to close at 1,168.55 points.

Advance interest payment scheme creating 'duplicate' deposits

March 26, 2018 06:15 AM

KATHMANDU, March 26: Commercial banks offering advance interest payment for depositors have prompted concerns among other bankers. They say that such scheme was creating 'artificial deposits'.

Underinvoicing raises tax avoidance, money laundering concerns

March 21, 2018 05:30 AM

KATHMANDU, March 21: Trade and Export Promotion Center (TEPC) has said that Nepali traders are indulging in under-invoicing at customs points while exporting hand-knotted carpet to China, raising suspicion of money laundering and tax evasion by the carpet industry.

'No bank survives by just vanilla banking'

March 11, 2018 11:45 AM

The contract for the appointment was already signed. Nabil Bank's board meeting approved the agreement few days after signing it and sent the notification to the NRB and the stock exchange [company]. It just so happened that on the same day the NRB also passed a directive to implement the six-month cooling off period.

NBA, NIC Asia Bank accuse each other of unfair practices

March 10, 2018 12:30 PM

Nepal Bankers Association (NBA) has decided that its 27 member banks will suspend interbank transactions with NIC Asia Bank for breaching understanding on capping deposit rates.

NBA ostracizes NIC Asia Bank for hiking interest rates on deposits

March 10, 2018 07:00 AM

KATHMANDU, March 10: Nepal Bankers Association (NBA) on Friday told its member banks to suspend their interbank transactions with NIC Asia Bank Ltd for raising interests on deposits “in breach of an informal understanding to cap the interest rates.”

Govt revises down growth forecast to 6 pc

March 8, 2018 02:54 AM

KATHMANDU, March 8: The government has revised down the economic growth forecast to 6 percent for the current fiscal year 2017/18 from the previous economic growth target of 7.2 percent. Releasing the mid-term review report of the budget for the current fiscal year, the Ministry of Finance lowered the growth forecast by 1.2 percentage points to 6 percent for the current fiscal year.

Government announces belt-tightening measures amid budget shortfall

March 8, 2018 02:50 AM

KATHMANDU, March 8: Facing a huge mismatch of financial resources in the implementation of budget for the current fiscal year, the government has announced a raft of belt-tightening measures.

Govt revises economic growth target down to 6 pc

March 7, 2018 16:54 PM

KATHMANDU, March 7: The government on Wednesday revised the economic growth target down to 6 percent for the current fiscal year 2017/18 from the initial target of 7.2 percent.

NepWaste to collect Kathmandu's waste

March 7, 2018 14:39 PM

Investment Board finalizes a much-awaited agreement with Finnish joint venture for the management of the municipal solid waste. Each household will have to pay Rs 219 per month as waste collection service fees.

Finance ministry to issue white paper on economic situation

March 7, 2018 11:15 AM

KATHMANDU, Mar 7: Minister for Finance, Yubaraj Khatiwada, is planning to issue white paper to make public the current economic position of the country and the measures that the government plan to take to deal with the ongoing economic and financial challenges.

Technocrat Khatiwada heads finance ministry

February 27, 2018 06:15 AM

KATHMANDU, Feb 27: Prime Minister KP Oli has chosen Yuba Raj Khatiwada, a monetary economist, as the Minister for Finance and Policy, overlooking other senior leaders of his own party to lead a crucial ministry that is responsible for maintaining both micro and macroeconomic stability in the country.

Climate smart approach to benefit both farmers, private sector

February 17, 2018 09:22 AM

KATHMANDU, Feb 17: Engagement of private sector in promoting climate smart agriculture can be beneficial for both farmers and private sector if the results of a pilot program for climate resilient agriculture are something to go by.

Oli for legalizing 'underground money'

January 30, 2018 06:50 AM

KATHMANDU, Jan 30: CPN-UML Chairman KP Sharma Oli has said that  'underground money' should be allowed to come to the surface.

Bankers expecting relaxation on prudential lending limit like last year

January 24, 2018 05:00 AM

KATHMANDU, Jan 24: At a time when bankers are hoping that the Nepal Rastra Bank (NRB) will provide them a relaxation on credit to core-capital-cum-deposit (C-CD) ratio, the central bank has indicated that such prudential lending limit is not going to be tweaked to address the current liquidity problem being faced by bank and financial institutions (BFIs).

IMF sees Nepal an exception to South Asian economic growth

January 21, 2018 08:42 AM

KATHMANDU, Jan 21: The International Monetary Fund (IMF) has said that growth is expected to accelerate or remain broadly stable in South Asia except Nepal.

Banks stop lending amid shortage of funds

January 11, 2018 11:45 AM

Bankers are panicked at the possibility of huge withdrawal of deposits from the system over the next few days for income tax payment and repatriation of profit by Ncell.

Sebon slaps record fine against two stock brokers

January 10, 2018 09:56 AM

KATHMANDU, Jan 10: The Securities Board of Nepal (Sebon) has slapped a record fine on two stock brokerage firms for their failure to maintain know-your-customer (KYC) compliance.

Sebon slaps record fine against two stock brokers

January 10, 2018 02:21 AM

KATHMANDU, Jan 10: Securities Board of Nepal (Sebon) has slapped a record fine on two stock brokerage firms for their failure to maintain know-your-customer (KYC) compliance.

NRB sets 6-month cooling period for CEOs to join another bank

December 30, 2017 10:22 AM

Cooling period aimed to regulate unhealthy practices among BFIs