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Page last updated at 2014-04-23 07:30:29 RSS
  IMF Mission Bats For A Powerful NRB
    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.

  World Bank Objects To Spread Rate, Directed Lending
    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.

  Rice, Lentil, Sugar Prices Up
    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.

  Subsidy Card For Farmers By Mid-July
    KATHMANDU, April 22: The government is planning to distribute Farmer Subsidy Card (FSC) to farmers by mid-July.

According to the Ministry of Agricultural Development (MoAD), a guideline to regulate the new provision will ready by the second week of May and that cards will be distributed to farmers by July 15.

  Japan Provides 1.475 Billion Grant For Restoration Of Micro
    KATHMANDU, April 22: The Government of Japan ha agreed to provide a grant assistance of Rs. 1.475 billion for the restoration of the micro hydro projects in western region.

The assistance through JICA will help improve living standards of the people of the region by generating electricity after repairing dysfunctional equipment of the projects.

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