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Category Archives: Bank and Finance

Central bank directs banks to hike paid-up capital

Central bank today directed the banks and financial institutions to hike paid up capital within next two years – to strengthen their balancesheet size – encouraging their further consolidation. The commercial banks need to increase their paid-up capital by four

Himalayan Bank, Habib Bank each donate Rs 10 million

Himalayan Bank has provided Rs 10 million to Prime Minister’s Relief fund as a contribution of the bank to the victims of devastating earthquake of April 25. Likewise, the bank’s joint venture partner Habib Bank, Pakistan has also provided Rs

Nepal signs framework agreement of China-led AIIB

Nepal has become the founding member of Asian Infrastructure Investment Bank. Nepal, alongwith 50 countries across Asia, Australia, Europe and South America, signed article of agreement of the Asian Infrastructure Investment Bank in Beijing today. Though, some 57 governments have expressed

Asian Infrastructure Investment Bank to born tomorrow

One of China’s biggest ever foreign policy successes will take concrete shape tomorrow when delegates from 57 countries including Nepal sign an agreement on Asian Infrastructure Investment Bank (AIIB) in Beijing. It will create a legal framework for the existence

IMF refuses debt relief for Nepal

International Monetary Fund (IMF) has refused debt relief for Nepal as it has not met all the criterion for the debt relief. IMF spokesperson Gerry Rice today said that Nepal will not receive debt relief from a special IMF trust

ADB releases immediate assistance of $200 million

Asian Development Bank (ADB) today announced an immediate assistance of $200 million for helping Nepal’s reconstruction process. It is a part of $600 million fund pledged by the development partner in the International Conference on Nepal’s Reconstruction-2015 (ICNR 2015). “ADB’s

Villagers will not be able to get subsidised loan

Under the current terms of the central bank, the needy villagers will find it difficult to get the subsidised loan at two per cent. Even the valleyites, without collateral will find it difficult to get the loan to reconstruct their

Japan, UNDP seal $1 million emergency grant deal to help Nepal

The government of Japan and the United Nations Development Programme (UNDP) today signed an agreement for $1 million emergency grant in the aftermath of the two devastating earthquakes to manage debris and create emergency employment through a cash-for-work programme. The

ADB creates emergency trade finance facility for Nepal by expanding its Trade Finance Programme

Asian Development Bank (ADB) is expanding its Trade Finance Programme (TFP) in Nepal by an additional $40 million to help banks finance import of much needed goods to support reconstruction and immediate needs in response to the recent earthquake. “The

Earthquake victims to get loans at two per cent

Earthquake victims will be able to get bank loans at just two per cent to reconstruct or repair their damaged houses by the devastating earthquake on April 25, according to the central bank. The borrowers, however, must have collateral to

ADB pledges $200 million for reconstruction

Asian Development Bank (ADB) today pledged $200 million (nearly Rs 20 billion) for the reconstruction of Nepal ravaged by the 7.8-magnitude devastating earthquake on April 25. Finance Minister Dr Ram Sharan Mahat informed that the ADB has – during the

ADB hosts Partnership Forum for Nepal, Mahat presents bleak economic picture

The Asian Development Bank (ADB) hosted a Partnership Forum for Nepal today during its 48th annual meeting to affirm international support for the country, following the devastating April 25 earthquake. At the meeting – jointly chaired by ADB president Takehiko

Government, ADB sign $3 million grant for earthquake relief

The government and Asian Development Bank (ADB) today signed a $3 million grant agreement to finance relief efforts in the country following Saturday’s 7.8 magnitude earthquake. Finance secretary Suman Sharma and ADB country director Kenichi Yokoyama signed the agreement on

Nepal joins ‘Better Than Cash Alliance’

Nepal joined Better Than Cash Alliance, according to Finance Ministry. The Alliance is an organisation partnering with governments, development community and private sector to empower people by shifting from cash to electronic payments. The Bill & Melinda Gates Foundation, Citi,

Nepalis allowed to make online purchases using cards

Nepalis can now make online purchase using debit and credit cards from home. “The new provision will ease purchasing goods from abroad online to consume within the country,” according to the central bank directive. The central bank has for the

Banking fraud claims touch Rs 9.71 billion

Increasing financial institutions has also given rise to banking frauds lately. The government’s claims in banking fraud cases under the court touched Rs 9.71 billion, according to the commercial bench of Patan Appellate Court. There are 104 cases involving banking

Central bank takes prompt corrective action against Grand Bank

The central bank – last week – took prompt corrective action (PCA) against Grand Bank Nepal after its capital adequacy ratio (CAR) dropped to 4.07 per cent, much below the mandatory 10 per cent, due to massive loss. The prompt

Corporate Governance seminar on card

National Banking Institute (NBI) – earlier National Banking Training Institute (NBTI) – in association with IFC of World Bank Group and with support from Asian Development Bank (ADB) is conducting annual conference ‘Corporate Governance:  Where have we failed’ on September