LATEST POST

Tag Archives: central bank

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

Budget focuses on economic revival, implementation challenging: Mahat

Finance Minister Dr Ram Sharan Mahat asserted that budget for the next fiscal year 2015-16 is focused on economic recovery and reconstruction but also accepted that full implementation is a challenging task. The fiscal policy will help economic recovery and

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

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

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,

Investment Board to approve Rs 25 billion cement factory

Investment Board of Nepal is going to approve Rs 25 billion cement factory. The board meeting after the Tihar festival is going to approve India’s Reliance Industries’ Rs 25 billion cement factory for foreign direct investment, informed external affairs head

Capital market regulator urges financial market regulator for better coordination

The capital market regulator urged the financial market regulator to coordinate before bringing any policy as it could hit the capital market. Securities Board of Nepal (Sebon) today asked central bank to coordinate with it before taking any decision on

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

Stock investors want central bank’s support

Investors asked the central bank today to bring policy to boost the capital market confidence rather than discouraging them. Any decision the central bank takes about the banks and financial institutions will affect stock market, said president of Nepal Investors

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

US court vacates verdict to transfer central bank’s $1 million to US bank

The central bank has won a six-year old case at a US court as the court vacated its earlier verdict of debiting $1 million from central bank’s account to the Standard Chartered Bank’s New York branch. Had the central bank

Finance Minister asks to expedite reform programmes

Finance Minister Dr Ram Sharan Mahat today asked the government officials to expedite the economic reform programmes. Directing department chiefs at the Finance Ministry today, he asked them to complete preparations for the introduction of new economic reforms related laws

Non-performing loans of banks increases

Non-Performing Loans (NPL) commercial banks have increased in the last fiscal year compared to a fiscal year ago. “The average non-performing loans of commercial banks increased to 3.27 per cent to Rs 29.18 billion in the last fiscal year 2013-14,”

Cabinet approves ADB local currency bond

The government today approved Asian Development Bank’s (ADB) Nepali rupee bonds worth up to Rs 50 billion to raise funds from the domestic market to finance various development projects including eight hydropower projects. A Cabinet meeting’s decision today has made

Rastriya Banijya Bank to offload cross holding shares through auction from Sunday

Rastriya Banijya Bank is offloading cross holding shares of Nepal Investment Bank and Nepal Aawas Finance partially to small investors, if they are not fully subscribed. The fully-government owned bank has decided to offload its 6,220,066 units of Nepal Investment

Rising number of cooperatives poses systemic risk to financial sector

The latest Financial Stability Report published by the central bank has warned of systemic risk to the financial sector due to ballooning cooperatives in recent years. The cooperatives, unlike their basic norms, have earned bad name in Nepal due to

Stock market bounces back

The stock market bounced back today as it jumped by 38.57 points to close the market at 960.43 points following the central bank’s clarification that it has not been trying to tighten investment of the banks and financial institutions in