KATHMANDU, April 22: The International Monetary Fund (IMF) has said that the Nepal Rastra Bank (NRB) should be authorized to directly liquidate or scrap the license of any banks and financial Institutions (BFIs).
An IMF staff mission, led by Alexander Pitt, has recommended that the new central bank act should give NRB the power to scrap the license of any BFIs or liquidate them without entering into court´s proceedings.
KATHMANDU, April 22: The World Bank has made an objection to the Nepal Rastra Banks´ (NRB) policy initiatives in regard to fixing interest spread rate and directed lending, saying that it hurts the competency of Nepali banks.
In its annual publication ´Nepal Economic Update´ unveiled here on Tuesday, the World Bank said the central bank´s policies are distorting the ability of banks.
KATHMANDU, April 22: Prices of food commodities like lentil, rice and sugar, among others, have increased compared to prices recorded a month ago.
Popular rice varieties like Jeera Masino, Mansuli and Indian Basmati have become dearer by as much as Rs 8 per kg. Price of Mansuli rice increased by Rs 8 per kg to Rs 58, while Jeera Masino and Indian Basmati are selling at Rs 60 and Rs 115 per kg respectively, up by Rs 5 per kg each.