Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was…
Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was…
April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last…
April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to…
April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit…
March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the…
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Amidst a programme organized on Monday, the final agreement for the merger of the two banks was signed. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 23: Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was signed. </span></p> <p><span style="font-size:18px">Based on the due diligence report, both banks will merge in a 1:1 swap ratio. After the merger, the name of the merged entity will be Laxmi Sunrise Bank Limited.</span></p> <p><span style="font-size:18px">Ajay Bikram Shah, the current Chief Executive Officer of Laxmi Bank, will become the CEO of the merged bank, while the first meeting of the Board of Directors will select the Chairman of the Board of Directors of the merged entity. </span></p> <p><span style="font-size:18px">Once the merger is approved by the General Assemblies of both banks and accepted by the Nepal Rastra Bank and the Office of the Company Registrar, the joint operations will commence. The goal is to start integrated business operations within the month of Asar. </span></p> <p><span style="font-size:18px">Prior to this, the Chairman of Laxmi Bank, Raman Nepal, and the Chairman of Sunrise Bank, Motilal Dugad, had signed the initial agreement for the merger on 25th Poush, 2079. </span></p> <p><span style="font-size:18px">Dr. Manish Thapa and Swati Rungta represent Laxmi Bank, while Sharada Sharma and Deepak Nepal represent Sunrise Bank in the Joint Merger Committee. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17677', 'image' => '20230523061856_collage (8).jpg', 'article_date' => '2023-05-23 06:16:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '15125', 'article_category_id' => '219', 'title' => 'Children attracted to piggy bank saving', 'sub_title' => '', 'summary' => 'April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last Friday.', 'content' => '<p>Dipesh Poudel</p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last Friday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that he bought two piggy banks made of clay, one for himself and the other for his sister. Rajan, who is studying in class 8 at Janajyoti Secondary School, has been saving Rs 10 to Rs 100 daily in the piggy bank. With the money saved, he plans to buy sports equipment. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“I just bought a piggy bank from the market. My sister also saves money in her piggy bank and uses the saved money to buy stationary,” he said. His sister Nandani has been saving the change money given by her parents.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The children save some of the money given by their parents for lunch in their piggy banks. There is a great attraction of young students studying in private and government schools towards the piggy bank savings.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prince Mishra, who is studying in the same school, said that he also saves the money given by his parents for lunch. He said that he uses the money saved to buy stationery and sports equipment. Only a few months ago, he bought a bicycle using savings from his piggy bank.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Parents are also happy with their children’s habit of saving money. Basanti Jaiswal, a parent from Chandranigahapur said that her son deposits money left after having lunch in piggy bank after returning from school. She said, “My son has developed a habit of saving money in a piggy bank. He uses the saved money to buy stationery and sports equipment. It has been financially easier for us since we have to pay the monthly fees only.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aradhya Poudel, who is studying in class 2, says that she also started saving money in a piggy bank after seeing all her friends save money. At present, more than a dozen students of private and government schools in Chandranigahapur save money in piggy bank.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Madhu Poudel, a teacher at the local Janajyoti Secondary School said that the students have developed the habit of saving. He said that parents and teachers should motivate their children to save regularly.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Cooperatives as well as banks have also come up with various schemes to attract children towards piggy bank savings. Bibhu Pokharel, chairman of Sankalpa Savings and Cooperative said that children who save in the piggy bank savings are given gifts on their birthdays. He said that the children's access to the bank will gradually progress from the piggy bank saving scheme and their habit of saving will further develop.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-18', 'modified' => '2022-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '14867', 'image' => '20220418070053_1650260270.खुत्रुके_बचतमा_बालबालिकाको_आकर्षण.jpg', 'article_date' => '2022-04-18 19:00:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15080', 'article_category_id' => '219', 'title' => 'Commercial Banks Agree not to Increase Interest Rates', 'sub_title' => '', 'summary' => 'April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to mid-May).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to mid-May). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The maximum interest on deposits for the review period will be 11.03 percent, as per the understanding reached between the CEOs of all commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of Nepal Bankers’ Association, an umbrella body of commercial banks, on Sunday took a decision to this effect. The banks did not increase interest rates in the month of Chaitra (mid-March to mid-April) as deposit collection did not improve even after increasing the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the provision of Nepal Rastra Bank (NRB), commercial banks need to make public the interest rates every month. Stating that the commercial banks were involved in unhealthy competition of increasing the interest rates, the central bank had made arrangements that allowed the banks to increase the interest rate by only 10 percent compared to the previous month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commercial banks had increased the interest rate in the month of Falgun (mid-February to mid-March) within the same criteria fixed by the NRB.</span></span></p> ', 'published' => true, 'created' => '2022-04-11', 'modified' => '2022-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '14822', 'image' => '20220411104228_Banks - Copy.jpg', 'article_date' => '2022-04-11 10:41:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15059', 'article_category_id' => '219', 'title' => 'Commercial Farmers Start Receiving Loans through Credit Cards', 'sub_title' => '', 'summary' => 'April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit cards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit cards. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">BFIs have shifted their focus on providing loans to commercial farmers under pressure from the government to expand agriculture loan and to facilitate the farmers’ desire to use modern technology in farming.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Banks such as Agriculture Development Bank, Mega Bank, Civil Bank, Nepal Bangladesh Bank, Global IME Bank among others have already started issuing credit cards for farmers. Those banks have started providing loans to the farmers through credit cards in collaboration with the local units and private companies. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to this scheme, banks make the approved loan available to the farmers through credit cards. Farmers can make payment for fertilizer, seeds, agricultural equipment and tools through their credit cards. To avail this service, the farmers must visit the designated sellers who are also linked with the bank. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Nepal Rastra Bank (NRB) had announced credit card facility for farmers through the monetary policy of the last fiscal year. To back this concept, Agriculture Development Bank had launched credit card for the farmers on the occasion of its anniversary more than a year ago. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Agriculture Development Bank’s CEO Anil Kumar Upadhyay says that the bank does not only provide financial service to the farmers through the cards but also market information.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“Farmers can make purchase with the loan amount that has been approved. The bank has also launched an application to help the farmers use the credit cards. Through this app, we provide the farmers with market information, weather situation and other technical advise,” said Upadhyay. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Private banks have also shown interest in this scheme after the central bank included this concept in the monetary policy. The private banks have started providing loans to the farmers in collaboration with the local units and private companies. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-04-07', 'modified' => '2022-04-07', 'keywords' => '', 'description' => '', 'sortorder' => '14801', 'image' => '20220407112029_Agri.jpg', 'article_date' => '2022-04-07 11:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15008', 'article_category_id' => '219', 'title' => 'Bankers Suggest Government for Policy Intervention to Improve Economy', 'sub_title' => '', 'summary' => 'March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the economists.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the economists.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">They gave such suggestions during a meeting of the Finance Committee of the House of Representatives. The parliamentary panel had called the chief executive officers (CEOs) of commercial banks to take their feedback for the upcoming budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The CEOs who participated in the discussion said that the country's economic situation was deteriorating due to high Balance of Payments (BoP) and trade deficit as well as declining foreign exchange reserves and remittance inflows. They suggested that the government should take policy-level intervention to improve the situation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Anil Keshari Shah, CEO of Nabil Bank, said that the inflow of remittances during lockdown was high but declined after the restrictions were lifted. He said that inflow of remittance and imports were inter-related and urged the government to intervene saying that even in the current complex situation, unnecessary items like betel nuts and cosmetics are being imported.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"When the dollar reserves can sustain imports of less than three months, the country is in a state of bankruptcy. We are in danger of reaching that point," he said. The time has come for you to stop. It is up to you to stop it,” said Shah.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to a report prepared by Nepal Rastra Bank, the current account deficit is Rs 413.86 billion and the Balance of Payments is Rs 247.03 billion as of January. The total foreign exchange reserves, which stood at Rs 1399.03 billion in mid-July last year, have declined by 16.2 percent to Rs 1177.02 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The foreign exchange reserves can sustain imports of goods for 7.4 months and 6.7 months when importing goods and services. The Department of Customs has made public the statistics that the country's trade deficit has exceeded Rs 1100 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, CEO of NMB Bank, said that if remittances were the main source of bank deposits, increasing them would reduce the liquidity crunch in the banking sector. He said that the liquidity crisis can be lessened if the money in the government's reserve fund was mobilized. About Rs 300 billion has remained unused in the fund.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ashoke Rana, CEO of Himalayan Bank, also complained that they had urged the government to provide the interest-free money deposited in state coffers to the banks but their demand was not addressed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"We have repeatedly asked the Financial Comptroller General’s Office to allow the banks to keep the government’s funds as bank deposits," he said, adding, “If that happens, Rs 250 billion to Rs 300 billion will flow to the market.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Rana said that remittances were affected due to the illegal ‘hundi’ system. He said that the traders were protesting against the recent move of NRB to control imports and investment in unproductive sector although it was the right decision. Policy intervention is needed at this time, he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Anupama Khunjeli, CEO of Mega Bank, suggested to effectively regulate the inflow of remittances and to deposit the dollars kept abroad by NRB in Nepali bank. She said that the current problems were also due to volatile interest rates, adding that the provision of monthly interest rate review should be removed and made quarterly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Bankers Association CEO Anil Sharma said that the interest rate was volatile due to institutional deposits and the government's intervention was needed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-28', 'modified' => '2022-04-06', 'keywords' => '', 'description' => '', 'sortorder' => '14750', 'image' => '20220328040124_bankers.jpg', 'article_date' => '2022-03-28 16:00:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17946', 'article_category_id' => '219', 'title' => 'Laxmi Bank and Sunrise Bank Sign Final Merger Agreement ', 'sub_title' => '', 'summary' => 'Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was signed. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 23: Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was signed. </span></p> <p><span style="font-size:18px">Based on the due diligence report, both banks will merge in a 1:1 swap ratio. After the merger, the name of the merged entity will be Laxmi Sunrise Bank Limited.</span></p> <p><span style="font-size:18px">Ajay Bikram Shah, the current Chief Executive Officer of Laxmi Bank, will become the CEO of the merged bank, while the first meeting of the Board of Directors will select the Chairman of the Board of Directors of the merged entity. </span></p> <p><span style="font-size:18px">Once the merger is approved by the General Assemblies of both banks and accepted by the Nepal Rastra Bank and the Office of the Company Registrar, the joint operations will commence. The goal is to start integrated business operations within the month of Asar. </span></p> <p><span style="font-size:18px">Prior to this, the Chairman of Laxmi Bank, Raman Nepal, and the Chairman of Sunrise Bank, Motilal Dugad, had signed the initial agreement for the merger on 25th Poush, 2079. </span></p> <p><span style="font-size:18px">Dr. Manish Thapa and Swati Rungta represent Laxmi Bank, while Sharada Sharma and Deepak Nepal represent Sunrise Bank in the Joint Merger Committee. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17677', 'image' => '20230523061856_collage (8).jpg', 'article_date' => '2023-05-23 06:16:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '15125', 'article_category_id' => '219', 'title' => 'Children attracted to piggy bank saving', 'sub_title' => '', 'summary' => 'April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last Friday.', 'content' => '<p>Dipesh Poudel</p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last Friday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that he bought two piggy banks made of clay, one for himself and the other for his sister. Rajan, who is studying in class 8 at Janajyoti Secondary School, has been saving Rs 10 to Rs 100 daily in the piggy bank. With the money saved, he plans to buy sports equipment. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“I just bought a piggy bank from the market. My sister also saves money in her piggy bank and uses the saved money to buy stationary,” he said. His sister Nandani has been saving the change money given by her parents.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The children save some of the money given by their parents for lunch in their piggy banks. There is a great attraction of young students studying in private and government schools towards the piggy bank savings.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prince Mishra, who is studying in the same school, said that he also saves the money given by his parents for lunch. He said that he uses the money saved to buy stationery and sports equipment. Only a few months ago, he bought a bicycle using savings from his piggy bank.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Parents are also happy with their children’s habit of saving money. Basanti Jaiswal, a parent from Chandranigahapur said that her son deposits money left after having lunch in piggy bank after returning from school. She said, “My son has developed a habit of saving money in a piggy bank. He uses the saved money to buy stationery and sports equipment. It has been financially easier for us since we have to pay the monthly fees only.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aradhya Poudel, who is studying in class 2, says that she also started saving money in a piggy bank after seeing all her friends save money. At present, more than a dozen students of private and government schools in Chandranigahapur save money in piggy bank.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Madhu Poudel, a teacher at the local Janajyoti Secondary School said that the students have developed the habit of saving. He said that parents and teachers should motivate their children to save regularly.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Cooperatives as well as banks have also come up with various schemes to attract children towards piggy bank savings. Bibhu Pokharel, chairman of Sankalpa Savings and Cooperative said that children who save in the piggy bank savings are given gifts on their birthdays. He said that the children's access to the bank will gradually progress from the piggy bank saving scheme and their habit of saving will further develop.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-18', 'modified' => '2022-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '14867', 'image' => '20220418070053_1650260270.खुत्रुके_बचतमा_बालबालिकाको_आकर्षण.jpg', 'article_date' => '2022-04-18 19:00:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15080', 'article_category_id' => '219', 'title' => 'Commercial Banks Agree not to Increase Interest Rates', 'sub_title' => '', 'summary' => 'April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to mid-May).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to mid-May). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The maximum interest on deposits for the review period will be 11.03 percent, as per the understanding reached between the CEOs of all commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of Nepal Bankers’ Association, an umbrella body of commercial banks, on Sunday took a decision to this effect. The banks did not increase interest rates in the month of Chaitra (mid-March to mid-April) as deposit collection did not improve even after increasing the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the provision of Nepal Rastra Bank (NRB), commercial banks need to make public the interest rates every month. Stating that the commercial banks were involved in unhealthy competition of increasing the interest rates, the central bank had made arrangements that allowed the banks to increase the interest rate by only 10 percent compared to the previous month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commercial banks had increased the interest rate in the month of Falgun (mid-February to mid-March) within the same criteria fixed by the NRB.</span></span></p> ', 'published' => true, 'created' => '2022-04-11', 'modified' => '2022-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '14822', 'image' => '20220411104228_Banks - Copy.jpg', 'article_date' => '2022-04-11 10:41:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15059', 'article_category_id' => '219', 'title' => 'Commercial Farmers Start Receiving Loans through Credit Cards', 'sub_title' => '', 'summary' => 'April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit cards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit cards. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">BFIs have shifted their focus on providing loans to commercial farmers under pressure from the government to expand agriculture loan and to facilitate the farmers’ desire to use modern technology in farming.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Banks such as Agriculture Development Bank, Mega Bank, Civil Bank, Nepal Bangladesh Bank, Global IME Bank among others have already started issuing credit cards for farmers. Those banks have started providing loans to the farmers through credit cards in collaboration with the local units and private companies. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to this scheme, banks make the approved loan available to the farmers through credit cards. Farmers can make payment for fertilizer, seeds, agricultural equipment and tools through their credit cards. To avail this service, the farmers must visit the designated sellers who are also linked with the bank. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Nepal Rastra Bank (NRB) had announced credit card facility for farmers through the monetary policy of the last fiscal year. To back this concept, Agriculture Development Bank had launched credit card for the farmers on the occasion of its anniversary more than a year ago. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Agriculture Development Bank’s CEO Anil Kumar Upadhyay says that the bank does not only provide financial service to the farmers through the cards but also market information.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“Farmers can make purchase with the loan amount that has been approved. The bank has also launched an application to help the farmers use the credit cards. Through this app, we provide the farmers with market information, weather situation and other technical advise,” said Upadhyay. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Private banks have also shown interest in this scheme after the central bank included this concept in the monetary policy. The private banks have started providing loans to the farmers in collaboration with the local units and private companies. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-04-07', 'modified' => '2022-04-07', 'keywords' => '', 'description' => '', 'sortorder' => '14801', 'image' => '20220407112029_Agri.jpg', 'article_date' => '2022-04-07 11:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15008', 'article_category_id' => '219', 'title' => 'Bankers Suggest Government for Policy Intervention to Improve Economy', 'sub_title' => '', 'summary' => 'March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the economists.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the economists.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">They gave such suggestions during a meeting of the Finance Committee of the House of Representatives. The parliamentary panel had called the chief executive officers (CEOs) of commercial banks to take their feedback for the upcoming budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The CEOs who participated in the discussion said that the country's economic situation was deteriorating due to high Balance of Payments (BoP) and trade deficit as well as declining foreign exchange reserves and remittance inflows. They suggested that the government should take policy-level intervention to improve the situation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Anil Keshari Shah, CEO of Nabil Bank, said that the inflow of remittances during lockdown was high but declined after the restrictions were lifted. He said that inflow of remittance and imports were inter-related and urged the government to intervene saying that even in the current complex situation, unnecessary items like betel nuts and cosmetics are being imported.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"When the dollar reserves can sustain imports of less than three months, the country is in a state of bankruptcy. We are in danger of reaching that point," he said. The time has come for you to stop. It is up to you to stop it,” said Shah.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to a report prepared by Nepal Rastra Bank, the current account deficit is Rs 413.86 billion and the Balance of Payments is Rs 247.03 billion as of January. The total foreign exchange reserves, which stood at Rs 1399.03 billion in mid-July last year, have declined by 16.2 percent to Rs 1177.02 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The foreign exchange reserves can sustain imports of goods for 7.4 months and 6.7 months when importing goods and services. The Department of Customs has made public the statistics that the country's trade deficit has exceeded Rs 1100 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, CEO of NMB Bank, said that if remittances were the main source of bank deposits, increasing them would reduce the liquidity crunch in the banking sector. He said that the liquidity crisis can be lessened if the money in the government's reserve fund was mobilized. About Rs 300 billion has remained unused in the fund.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ashoke Rana, CEO of Himalayan Bank, also complained that they had urged the government to provide the interest-free money deposited in state coffers to the banks but their demand was not addressed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"We have repeatedly asked the Financial Comptroller General’s Office to allow the banks to keep the government’s funds as bank deposits," he said, adding, “If that happens, Rs 250 billion to Rs 300 billion will flow to the market.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Rana said that remittances were affected due to the illegal ‘hundi’ system. He said that the traders were protesting against the recent move of NRB to control imports and investment in unproductive sector although it was the right decision. Policy intervention is needed at this time, he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Anupama Khunjeli, CEO of Mega Bank, suggested to effectively regulate the inflow of remittances and to deposit the dollars kept abroad by NRB in Nepali bank. She said that the current problems were also due to volatile interest rates, adding that the provision of monthly interest rate review should be removed and made quarterly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Bankers Association CEO Anil Sharma said that the interest rate was volatile due to institutional deposits and the government's intervention was needed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-28', 'modified' => '2022-04-06', 'keywords' => '', 'description' => '', 'sortorder' => '14750', 'image' => '20220328040124_bankers.jpg', 'article_date' => '2022-03-28 16:00:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17946', 'article_category_id' => '219', 'title' => 'Laxmi Bank and Sunrise Bank Sign Final Merger Agreement ', 'sub_title' => '', 'summary' => 'Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was signed. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 23: Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was signed. </span></p> <p><span style="font-size:18px">Based on the due diligence report, both banks will merge in a 1:1 swap ratio. After the merger, the name of the merged entity will be Laxmi Sunrise Bank Limited.</span></p> <p><span style="font-size:18px">Ajay Bikram Shah, the current Chief Executive Officer of Laxmi Bank, will become the CEO of the merged bank, while the first meeting of the Board of Directors will select the Chairman of the Board of Directors of the merged entity. </span></p> <p><span style="font-size:18px">Once the merger is approved by the General Assemblies of both banks and accepted by the Nepal Rastra Bank and the Office of the Company Registrar, the joint operations will commence. The goal is to start integrated business operations within the month of Asar. </span></p> <p><span style="font-size:18px">Prior to this, the Chairman of Laxmi Bank, Raman Nepal, and the Chairman of Sunrise Bank, Motilal Dugad, had signed the initial agreement for the merger on 25th Poush, 2079. </span></p> <p><span style="font-size:18px">Dr. Manish Thapa and Swati Rungta represent Laxmi Bank, while Sharada Sharma and Deepak Nepal represent Sunrise Bank in the Joint Merger Committee. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17677', 'image' => '20230523061856_collage (8).jpg', 'article_date' => '2023-05-23 06:16:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '15125', 'article_category_id' => '219', 'title' => 'Children attracted to piggy bank saving', 'sub_title' => '', 'summary' => 'April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last Friday.', 'content' => '<p>Dipesh Poudel</p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last Friday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that he bought two piggy banks made of clay, one for himself and the other for his sister. Rajan, who is studying in class 8 at Janajyoti Secondary School, has been saving Rs 10 to Rs 100 daily in the piggy bank. With the money saved, he plans to buy sports equipment. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“I just bought a piggy bank from the market. My sister also saves money in her piggy bank and uses the saved money to buy stationary,” he said. His sister Nandani has been saving the change money given by her parents.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The children save some of the money given by their parents for lunch in their piggy banks. There is a great attraction of young students studying in private and government schools towards the piggy bank savings.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prince Mishra, who is studying in the same school, said that he also saves the money given by his parents for lunch. He said that he uses the money saved to buy stationery and sports equipment. Only a few months ago, he bought a bicycle using savings from his piggy bank.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Parents are also happy with their children’s habit of saving money. Basanti Jaiswal, a parent from Chandranigahapur said that her son deposits money left after having lunch in piggy bank after returning from school. She said, “My son has developed a habit of saving money in a piggy bank. He uses the saved money to buy stationery and sports equipment. It has been financially easier for us since we have to pay the monthly fees only.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aradhya Poudel, who is studying in class 2, says that she also started saving money in a piggy bank after seeing all her friends save money. At present, more than a dozen students of private and government schools in Chandranigahapur save money in piggy bank.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Madhu Poudel, a teacher at the local Janajyoti Secondary School said that the students have developed the habit of saving. He said that parents and teachers should motivate their children to save regularly.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Cooperatives as well as banks have also come up with various schemes to attract children towards piggy bank savings. Bibhu Pokharel, chairman of Sankalpa Savings and Cooperative said that children who save in the piggy bank savings are given gifts on their birthdays. He said that the children's access to the bank will gradually progress from the piggy bank saving scheme and their habit of saving will further develop.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-18', 'modified' => '2022-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '14867', 'image' => '20220418070053_1650260270.खुत्रुके_बचतमा_बालबालिकाको_आकर्षण.jpg', 'article_date' => '2022-04-18 19:00:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15080', 'article_category_id' => '219', 'title' => 'Commercial Banks Agree not to Increase Interest Rates', 'sub_title' => '', 'summary' => 'April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to mid-May).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to mid-May). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The maximum interest on deposits for the review period will be 11.03 percent, as per the understanding reached between the CEOs of all commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of Nepal Bankers’ Association, an umbrella body of commercial banks, on Sunday took a decision to this effect. The banks did not increase interest rates in the month of Chaitra (mid-March to mid-April) as deposit collection did not improve even after increasing the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the provision of Nepal Rastra Bank (NRB), commercial banks need to make public the interest rates every month. Stating that the commercial banks were involved in unhealthy competition of increasing the interest rates, the central bank had made arrangements that allowed the banks to increase the interest rate by only 10 percent compared to the previous month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commercial banks had increased the interest rate in the month of Falgun (mid-February to mid-March) within the same criteria fixed by the NRB.</span></span></p> ', 'published' => true, 'created' => '2022-04-11', 'modified' => '2022-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '14822', 'image' => '20220411104228_Banks - Copy.jpg', 'article_date' => '2022-04-11 10:41:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15059', 'article_category_id' => '219', 'title' => 'Commercial Farmers Start Receiving Loans through Credit Cards', 'sub_title' => '', 'summary' => 'April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit cards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit cards. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">BFIs have shifted their focus on providing loans to commercial farmers under pressure from the government to expand agriculture loan and to facilitate the farmers’ desire to use modern technology in farming.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Banks such as Agriculture Development Bank, Mega Bank, Civil Bank, Nepal Bangladesh Bank, Global IME Bank among others have already started issuing credit cards for farmers. Those banks have started providing loans to the farmers through credit cards in collaboration with the local units and private companies. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to this scheme, banks make the approved loan available to the farmers through credit cards. Farmers can make payment for fertilizer, seeds, agricultural equipment and tools through their credit cards. To avail this service, the farmers must visit the designated sellers who are also linked with the bank. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Nepal Rastra Bank (NRB) had announced credit card facility for farmers through the monetary policy of the last fiscal year. To back this concept, Agriculture Development Bank had launched credit card for the farmers on the occasion of its anniversary more than a year ago. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Agriculture Development Bank’s CEO Anil Kumar Upadhyay says that the bank does not only provide financial service to the farmers through the cards but also market information.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“Farmers can make purchase with the loan amount that has been approved. The bank has also launched an application to help the farmers use the credit cards. Through this app, we provide the farmers with market information, weather situation and other technical advise,” said Upadhyay. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Private banks have also shown interest in this scheme after the central bank included this concept in the monetary policy. The private banks have started providing loans to the farmers in collaboration with the local units and private companies. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-04-07', 'modified' => '2022-04-07', 'keywords' => '', 'description' => '', 'sortorder' => '14801', 'image' => '20220407112029_Agri.jpg', 'article_date' => '2022-04-07 11:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15008', 'article_category_id' => '219', 'title' => 'Bankers Suggest Government for Policy Intervention to Improve Economy', 'sub_title' => '', 'summary' => 'March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the economists.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the economists.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">They gave such suggestions during a meeting of the Finance Committee of the House of Representatives. The parliamentary panel had called the chief executive officers (CEOs) of commercial banks to take their feedback for the upcoming budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The CEOs who participated in the discussion said that the country's economic situation was deteriorating due to high Balance of Payments (BoP) and trade deficit as well as declining foreign exchange reserves and remittance inflows. They suggested that the government should take policy-level intervention to improve the situation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Anil Keshari Shah, CEO of Nabil Bank, said that the inflow of remittances during lockdown was high but declined after the restrictions were lifted. He said that inflow of remittance and imports were inter-related and urged the government to intervene saying that even in the current complex situation, unnecessary items like betel nuts and cosmetics are being imported.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"When the dollar reserves can sustain imports of less than three months, the country is in a state of bankruptcy. We are in danger of reaching that point," he said. The time has come for you to stop. It is up to you to stop it,” said Shah.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to a report prepared by Nepal Rastra Bank, the current account deficit is Rs 413.86 billion and the Balance of Payments is Rs 247.03 billion as of January. The total foreign exchange reserves, which stood at Rs 1399.03 billion in mid-July last year, have declined by 16.2 percent to Rs 1177.02 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The foreign exchange reserves can sustain imports of goods for 7.4 months and 6.7 months when importing goods and services. The Department of Customs has made public the statistics that the country's trade deficit has exceeded Rs 1100 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, CEO of NMB Bank, said that if remittances were the main source of bank deposits, increasing them would reduce the liquidity crunch in the banking sector. He said that the liquidity crisis can be lessened if the money in the government's reserve fund was mobilized. About Rs 300 billion has remained unused in the fund.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ashoke Rana, CEO of Himalayan Bank, also complained that they had urged the government to provide the interest-free money deposited in state coffers to the banks but their demand was not addressed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"We have repeatedly asked the Financial Comptroller General’s Office to allow the banks to keep the government’s funds as bank deposits," he said, adding, “If that happens, Rs 250 billion to Rs 300 billion will flow to the market.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Rana said that remittances were affected due to the illegal ‘hundi’ system. He said that the traders were protesting against the recent move of NRB to control imports and investment in unproductive sector although it was the right decision. Policy intervention is needed at this time, he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Anupama Khunjeli, CEO of Mega Bank, suggested to effectively regulate the inflow of remittances and to deposit the dollars kept abroad by NRB in Nepali bank. She said that the current problems were also due to volatile interest rates, adding that the provision of monthly interest rate review should be removed and made quarterly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Bankers Association CEO Anil Sharma said that the interest rate was volatile due to institutional deposits and the government's intervention was needed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-28', 'modified' => '2022-04-06', 'keywords' => '', 'description' => '', 'sortorder' => '14750', 'image' => '20220328040124_bankers.jpg', 'article_date' => '2022-03-28 16:00:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17946', 'article_category_id' => '219', 'title' => 'Laxmi Bank and Sunrise Bank Sign Final Merger Agreement ', 'sub_title' => '', 'summary' => 'Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was signed. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 23: Two commercial banks-Laxmi Bank and Sunrise Bank limited- have reached a final agreement for a merger. Amidst a programme organized on Monday, the final agreement for the merger of the two banks was signed. </span></p> <p><span style="font-size:18px">Based on the due diligence report, both banks will merge in a 1:1 swap ratio. After the merger, the name of the merged entity will be Laxmi Sunrise Bank Limited.</span></p> <p><span style="font-size:18px">Ajay Bikram Shah, the current Chief Executive Officer of Laxmi Bank, will become the CEO of the merged bank, while the first meeting of the Board of Directors will select the Chairman of the Board of Directors of the merged entity. </span></p> <p><span style="font-size:18px">Once the merger is approved by the General Assemblies of both banks and accepted by the Nepal Rastra Bank and the Office of the Company Registrar, the joint operations will commence. The goal is to start integrated business operations within the month of Asar. </span></p> <p><span style="font-size:18px">Prior to this, the Chairman of Laxmi Bank, Raman Nepal, and the Chairman of Sunrise Bank, Motilal Dugad, had signed the initial agreement for the merger on 25th Poush, 2079. </span></p> <p><span style="font-size:18px">Dr. Manish Thapa and Swati Rungta represent Laxmi Bank, while Sharada Sharma and Deepak Nepal represent Sunrise Bank in the Joint Merger Committee. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17677', 'image' => '20230523061856_collage (8).jpg', 'article_date' => '2023-05-23 06:16:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '15125', 'article_category_id' => '219', 'title' => 'Children attracted to piggy bank saving', 'sub_title' => '', 'summary' => 'April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last Friday.', 'content' => '<p>Dipesh Poudel</p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">April 18: Rajan Jaiswal bought two piggy banks from Chandranigahapur market last Friday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that he bought two piggy banks made of clay, one for himself and the other for his sister. Rajan, who is studying in class 8 at Janajyoti Secondary School, has been saving Rs 10 to Rs 100 daily in the piggy bank. With the money saved, he plans to buy sports equipment. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“I just bought a piggy bank from the market. My sister also saves money in her piggy bank and uses the saved money to buy stationary,” he said. His sister Nandani has been saving the change money given by her parents.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The children save some of the money given by their parents for lunch in their piggy banks. There is a great attraction of young students studying in private and government schools towards the piggy bank savings.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prince Mishra, who is studying in the same school, said that he also saves the money given by his parents for lunch. He said that he uses the money saved to buy stationery and sports equipment. Only a few months ago, he bought a bicycle using savings from his piggy bank.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Parents are also happy with their children’s habit of saving money. Basanti Jaiswal, a parent from Chandranigahapur said that her son deposits money left after having lunch in piggy bank after returning from school. She said, “My son has developed a habit of saving money in a piggy bank. He uses the saved money to buy stationery and sports equipment. It has been financially easier for us since we have to pay the monthly fees only.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Aradhya Poudel, who is studying in class 2, says that she also started saving money in a piggy bank after seeing all her friends save money. At present, more than a dozen students of private and government schools in Chandranigahapur save money in piggy bank.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Madhu Poudel, a teacher at the local Janajyoti Secondary School said that the students have developed the habit of saving. He said that parents and teachers should motivate their children to save regularly.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Cooperatives as well as banks have also come up with various schemes to attract children towards piggy bank savings. Bibhu Pokharel, chairman of Sankalpa Savings and Cooperative said that children who save in the piggy bank savings are given gifts on their birthdays. He said that the children's access to the bank will gradually progress from the piggy bank saving scheme and their habit of saving will further develop.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-18', 'modified' => '2022-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '14867', 'image' => '20220418070053_1650260270.खुत्रुके_बचतमा_बालबालिकाको_आकर्षण.jpg', 'article_date' => '2022-04-18 19:00:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15080', 'article_category_id' => '219', 'title' => 'Commercial Banks Agree not to Increase Interest Rates', 'sub_title' => '', 'summary' => 'April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to mid-May).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">April 11: Commercial banks have reached an understanding for a gentleman’s agreement not to increase the interest rates for the month of Baishakh (mid-April to mid-May). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The maximum interest on deposits for the review period will be 11.03 percent, as per the understanding reached between the CEOs of all commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of Nepal Bankers’ Association, an umbrella body of commercial banks, on Sunday took a decision to this effect. The banks did not increase interest rates in the month of Chaitra (mid-March to mid-April) as deposit collection did not improve even after increasing the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the provision of Nepal Rastra Bank (NRB), commercial banks need to make public the interest rates every month. Stating that the commercial banks were involved in unhealthy competition of increasing the interest rates, the central bank had made arrangements that allowed the banks to increase the interest rate by only 10 percent compared to the previous month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commercial banks had increased the interest rate in the month of Falgun (mid-February to mid-March) within the same criteria fixed by the NRB.</span></span></p> ', 'published' => true, 'created' => '2022-04-11', 'modified' => '2022-04-11', 'keywords' => '', 'description' => '', 'sortorder' => '14822', 'image' => '20220411104228_Banks - Copy.jpg', 'article_date' => '2022-04-11 10:41:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15059', 'article_category_id' => '219', 'title' => 'Commercial Farmers Start Receiving Loans through Credit Cards', 'sub_title' => '', 'summary' => 'April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit cards.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">April 7: Banks and Financial Institutions (BFIs) have started attracting commercial farmers into their loan schemes through credit cards. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">BFIs have shifted their focus on providing loans to commercial farmers under pressure from the government to expand agriculture loan and to facilitate the farmers’ desire to use modern technology in farming.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Banks such as Agriculture Development Bank, Mega Bank, Civil Bank, Nepal Bangladesh Bank, Global IME Bank among others have already started issuing credit cards for farmers. Those banks have started providing loans to the farmers through credit cards in collaboration with the local units and private companies. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to this scheme, banks make the approved loan available to the farmers through credit cards. Farmers can make payment for fertilizer, seeds, agricultural equipment and tools through their credit cards. To avail this service, the farmers must visit the designated sellers who are also linked with the bank. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Nepal Rastra Bank (NRB) had announced credit card facility for farmers through the monetary policy of the last fiscal year. To back this concept, Agriculture Development Bank had launched credit card for the farmers on the occasion of its anniversary more than a year ago. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Agriculture Development Bank’s CEO Anil Kumar Upadhyay says that the bank does not only provide financial service to the farmers through the cards but also market information.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“Farmers can make purchase with the loan amount that has been approved. The bank has also launched an application to help the farmers use the credit cards. Through this app, we provide the farmers with market information, weather situation and other technical advise,” said Upadhyay. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Private banks have also shown interest in this scheme after the central bank included this concept in the monetary policy. The private banks have started providing loans to the farmers in collaboration with the local units and private companies. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-04-07', 'modified' => '2022-04-07', 'keywords' => '', 'description' => '', 'sortorder' => '14801', 'image' => '20220407112029_Agri.jpg', 'article_date' => '2022-04-07 11:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15008', 'article_category_id' => '219', 'title' => 'Bankers Suggest Government for Policy Intervention to Improve Economy', 'sub_title' => '', 'summary' => 'March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the economists.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">March 28: Bankers have urged the government for policy intervention to improve the economic indicators that have been worrying the economists.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">They gave such suggestions during a meeting of the Finance Committee of the House of Representatives. The parliamentary panel had called the chief executive officers (CEOs) of commercial banks to take their feedback for the upcoming budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The CEOs who participated in the discussion said that the country's economic situation was deteriorating due to high Balance of Payments (BoP) and trade deficit as well as declining foreign exchange reserves and remittance inflows. They suggested that the government should take policy-level intervention to improve the situation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Anil Keshari Shah, CEO of Nabil Bank, said that the inflow of remittances during lockdown was high but declined after the restrictions were lifted. He said that inflow of remittance and imports were inter-related and urged the government to intervene saying that even in the current complex situation, unnecessary items like betel nuts and cosmetics are being imported.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"When the dollar reserves can sustain imports of less than three months, the country is in a state of bankruptcy. We are in danger of reaching that point," he said. The time has come for you to stop. It is up to you to stop it,” said Shah.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to a report prepared by Nepal Rastra Bank, the current account deficit is Rs 413.86 billion and the Balance of Payments is Rs 247.03 billion as of January. The total foreign exchange reserves, which stood at Rs 1399.03 billion in mid-July last year, have declined by 16.2 percent to Rs 1177.02 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The foreign exchange reserves can sustain imports of goods for 7.4 months and 6.7 months when importing goods and services. The Department of Customs has made public the statistics that the country's trade deficit has exceeded Rs 1100 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, CEO of NMB Bank, said that if remittances were the main source of bank deposits, increasing them would reduce the liquidity crunch in the banking sector. He said that the liquidity crisis can be lessened if the money in the government's reserve fund was mobilized. About Rs 300 billion has remained unused in the fund.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Ashoke Rana, CEO of Himalayan Bank, also complained that they had urged the government to provide the interest-free money deposited in state coffers to the banks but their demand was not addressed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"We have repeatedly asked the Financial Comptroller General’s Office to allow the banks to keep the government’s funds as bank deposits," he said, adding, “If that happens, Rs 250 billion to Rs 300 billion will flow to the market.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Rana said that remittances were affected due to the illegal ‘hundi’ system. He said that the traders were protesting against the recent move of NRB to control imports and investment in unproductive sector although it was the right decision. Policy intervention is needed at this time, he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Anupama Khunjeli, CEO of Mega Bank, suggested to effectively regulate the inflow of remittances and to deposit the dollars kept abroad by NRB in Nepali bank. She said that the current problems were also due to volatile interest rates, adding that the provision of monthly interest rate review should be removed and made quarterly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Bankers Association CEO Anil Sharma said that the interest rate was volatile due to institutional deposits and the government's intervention was needed.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-28', 'modified' => '2022-04-06', 'keywords' => '', 'description' => '', 'sortorder' => '14750', 'image' => '20220328040124_bankers.jpg', 'article_date' => '2022-03-28 16:00:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
