September 6: The government is preparing to hand over the responsibility of waste management to the Ministry of Urban…
September 6: The government is preparing to hand over the responsibility of waste management to the Ministry of Urban…
September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year?…
September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in…
September 6: Bhutan's first private airliner, Bhutan Airlines, is all set to resume its flights to…
September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China.…
September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the…
India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from…
The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week,…
September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary…
September 5: The use of digital technology has increased in the country's financial system over the last…
September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises.…
September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu…
September 5: There has been a general decline in the short-term interest rates of banks and financial…
September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports…
Of late, attraction towards the mushroom farming is increasing in Nepal. Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom…
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We will take a decision to hand over the waste management responsibility across the country to the Ministry of Urban Development in the next cabinet meeting," said Prime Minister Dahal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prime Minister Dahal emphasized that waste management is a joint responsibility of the federal, provincial and local governments. He also instructed the concerned authorities to do the homework for the long-term management of waste, stating that a legal system and a long-term mechanism will be created for the waste management. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During Tuesday’s meeting, the participants expressed their views on various aspects of the long-term solution to waste management. The issue of waste management at Bancharedanda, demands raised by the local affected by dumping, purchase of land for dumping site and other issues were also discussed during the meeting. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders pointed out the need to form a high-level mechanism for this. In addition, the participants said that legal arrangements are necessary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Minister for Urban Development Sita Gurung, Chief Secretary of the Government of Nepal Dr Baikuntha Aryal, Prime Minister's Office Secretaries Eknarayan Aryal and Maniram Gelal, Urban Development Ministry’s Secretary Rabindraman Shrestha, Investment Board Nepal’s Executive Director Sushil Bhatta, Kathmandu Metropolitan City’s Chief Administrative Officer Basanta Adhikari, Lalitpur Metropolitan City’s Chief Administrative Officer Birendradev Bharti and others were present during the meeting</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18659', 'image' => '20230906015331_20220704024006_Clipboard55.jpg', 'article_date' => '2023-09-06 13:52:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18929', 'article_category_id' => '1', 'title' => 'No Need to Update KYC from One Bank to Another in the Near Future', 'sub_title' => '', 'summary' => 'September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year? ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year? Or because of the lack of KYC update, the account is inactive and you have to suffer? Account holders of banks and financial institutions are current facing such problems.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the Nepal Rastra Bank is preparing to develop a central customer identification system, there is no need to update KYC for each and every bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The proposed central customer identification system can be used by all financial institutions and the customer details will be updated from the system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the monetary policy of the current fiscal year, the central bank announced the establishment of a central customer identification system in order to facilitate the exchange of customer information between banks, financial institutions and other organizations licensed to perform payment-related activities, and to link national identity cards issued by the government to the central customer identification system. As per the announcement, preparations for setting up the central customer identification system have been initiated, said Dilliram Pokharel, joint spokesperson of NRB. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the regulation department of the central bank is currently studying the prospects of the central customer identification system and will coordinate with other agencies later for its implementation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Pokharel said that the customers will get a unique identification number after joining the system. Banks can update the customer's information from that number.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After this system is implemented, the customer only needs to update the information in one place. All the financial institutions will update the KYC from the system, so there will be less hassle for the customers. The central customer identification system (C-KYC) has been used in the securities market since last July. After updating the details in the C-KYC system operated by CDS and Clearing Limited (CDSC), the customer does not need to update the KYC separately at the securities dealers and merchant banks. There is a provision to update KYC by the affiliated company from the number received from CDSC.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of the law related to the prevention of money laundering, financial institutions must keep their customers’ details up to date. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18658', 'image' => '20230906015018_kyc.jpg', 'article_date' => '2023-09-06 13:49:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18928', 'article_category_id' => '1', 'title' => 'Karnali Province Hikes Industry Registration Fees, Offers Discount Facility to Specific Groups ', 'sub_title' => '', 'summary' => 'September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in enterprises. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in enterprises. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest Industry Regulations issued by the provincial government, eligible groups will be entitled to receive discounts of up to 50 percent when registering or renewing their industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the province government has hiked the industry registration and renewal charges based on the size of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Industries are categorized into five groups based on their capital investment, and the registration fees vary accordingly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The industry are categorized as those having the capital up to Rs 500,000, industry with the capital up to Rs 1 million, industries with up to Rs 2 million capital, up to Rs 5 million capital and industries having capital above Rs 5 million. The registration charge for these industries is in the range between Rs 1,000 to Rs 30,000. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18657', 'image' => '20230906012747_Industries.jpg', 'article_date' => '2023-09-06 13:26:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18927', 'article_category_id' => '1', 'title' => 'Bhutan Airlines to Resume Flights to Kathmandu Starting from September 16', 'sub_title' => '', 'summary' => 'September 6: Bhutan's first private airliner, Bhutan Airlines, is all set to resume its flights to Kathmandu.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: Bhutan's first private airliner, Bhutan Airlines,</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is all set to resume its flights to Kathmandu. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Society International Travel Services, the airline company’s general sales agent for Nepal, confirmed that Bhutan Airlines will resume flights to Kathmandu from September 16.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the sales agent, Bhutan Airlines will operate Paro-Kathmandu-Delhi return flights four times a week on every Sunday, Monday, Wednesday and Saturday starting from September 16.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The airline company had stopped flights to Kathmandu due to the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic. It had started flying to Kathmandu from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2013.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18656', 'image' => '20230906122459_Bhutan-Airlines-Business-Class-1.jpeg', 'article_date' => '2023-09-06 12:24:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18926', 'article_category_id' => '1', 'title' => 'CNI President Discusses Investment and Business Promotion with Chinese Ambassador', 'sub_title' => '', 'summary' => 'September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, CNI President Agrawal said that Nepal-China cooperation was vital in the areas of infrastructure development. He added that China is Nepal's one of the key development partner. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Agrawal urged the Chinese Ambassador to accord top priority for investment and cooperation in the areas of technology transfer, skill development and tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI president also urged the Chinese Ambassador to cooperate with the Nepali business community to export Nepali goods in the Chinese market through e-commerce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Chinese Ambassador Song was requested to do something visible in Nepal with the cooperation of CNI and China Council for Promotion of International Trade (CCPIT). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Song suggested that Nepal could develop through the use of national resources including the hydropower generation adding that a long term development strategy was needed. He was of the view that Nepal's imports could be substituted through the increase in usage of clean energy. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18655', 'image' => '20230906112655_20230510013135_cni new.jpg', 'article_date' => '2023-09-06 11:24:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18925', 'article_category_id' => '1', 'title' => 'Shree Krishna Janmashtami being Celebrated across the Country Today ', 'sub_title' => '', 'summary' => 'September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the scriptures, Lord Krishna was born in the midnight of Bhadrakrishna Ashtami or the eighth day of the waning moon in the month of Bhadra as per the Vedic lunar calendar during the Dwapar era more than 5,000 years ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is considered as the eighth incarnation of Lord Vishnu, the protector of the world. He took the form of a human to protect righteousness and to uproot the evil from the world. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Legend has it that Lord Krishna killed the evil king Kansa, who was his maternal uncle, to protect the innocent people and his parents from his cruelty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is better remembered for his philosophical discourse in Bhagvad Gita, where he guides the warrior Arjun towards the right path. The instructions given to Arjun before the great war of Mahabharat are considered relevant even to this day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is also known as "Gopal" for his dedicated service to the cows as a herder. He is also known as "Manmohan" for the melodies he used to play on his flute, charming everyone. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees throng the temples of Lord Krishna including the famous Shree Krishna Temple of Mangal Bazaar in Lalitpur on this day. The renowned and artistic Shree Krishna Temple made up of stones was built by the then King of Patan, Siddhi Narsingh Malla. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various religious organizations and institutions celebrate the birth anniversary of Lord Krishna by organizing colorful processions with the idols of Lord Krishna flanked by decorative portraits. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees, especially women, spend the night chanting prayers and devotional songs, dancing and lighting oil-fed lamps. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides prayers and fasting, the preaching of Lord Krishna are discussed and the message spread among the people on this day. (With inputs from RSS)</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18654', 'image' => '20230906105906_MadhavprasadGhimire_Patan_RSS_20_20230906_063927.jpg', 'article_date' => '2023-09-06 10:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18924', 'article_category_id' => '1', 'title' => 'India Endorses MoU to Purchase 10,000 MW Power from Nepal in Ten Years', 'sub_title' => '', 'summary' => 'India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 5: India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Under this agreement, India has agreed to import 10,000 megawatts (MW) of electricity from Nepal in the next ten years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Nepal's ambassador to India, Dr Shankar Prasad Sharma, the federal Council of Ministers of India formally endorsed the agreement paper on the power trade with</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal and India shared information about this trough social media X (twitter). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He said the decision would contribute to accelerating Nepal's economic development and restructuring efforts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The MoU was initially signed between the two countries during Prime Minister Pushpa Kamal Dahal Prachanda's latest visit to India (May 31-June 3, 2023) and at the time the Prime Minister had termed the agreement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Energy secretaries from both countries signed and exchanged the document. Following India's latest decision to endorse the agreement, the energy secretaries from both neighboring nations will participate in a special ceremony to formally re-sign it.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Joint Secretary at the Ministry of Energy, Hydro Resources and Irrigation and Spokesperson for the Ministry, Madhu Prasad Bhetuwal said they were unofficially informed about the official decision of the Indian government to endorse the agreement and expect to receive an official confirmation regarding the decision.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the decision, door to export the electricity to Indian market in easy and smooth manner has been opened.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Nepal had been urging for power export in Indian market in short-term, mid-term and long-term. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Nepal Electricity Authority (NEA) has been exporting 452 megawatt electricity in Indian Energy market on a daily basis. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal and India had signed power trade agreement in 2014. The Indian Company, Satluj Jal Vidyut Nigam, is constructing 900-megawatt Arun III hydropower project. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although the Indian company, GandhI Mallikarjun Rao, has been saying to construct 900-megawatt Upper Karnali hydropower project, it has not been started yet. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Indian company has forwarded necessary process for the construction of different projects including Lower Arun, West Seti and SR-6.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">An agreement has been reached between Nepal and India to construct some projects with joint investment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal has been making preparation to export 40 megawatt electricity in Bangladesh soon. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The private sector has been demanding the government to grant permission of power trade. The proposed new electricity bill has made this arrangement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Cabinet meeting held on August 29 had given permission to Energy Ministry to table the electricity bill in the Federal Parliament. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18653', 'image' => '20230905055753_collage (16).jpg', 'article_date' => '2023-09-05 17:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18923', 'article_category_id' => '1', 'title' => 'NEPSE’s Downfall Continues to Panic Investors ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week, Tuesday. ', 'content' => '<p>September 5: The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week, Tuesday. </p> <p>Ever since the Nepal Rastra Bank issued the monetary policy for the fiscal year 2023/2024, the benchmark index has been on the downward trend. </p> <p>Stock market experts and seasoned investors attribute the continued downfall of the NEPSE to the NRB’s harsh polices towards the capital market. </p> <p>The investors’ psychology is negative and the market will not pick up the momentum unless the regulators including NRB and the Finance Ministry relax policies related to the stock market, said a veteran investor. </p> <p>During today's trading, a total of 277 scrips exchanged their hands through 25,227 transactions.<br /> A total of 2,480,929 shares were traded, amounting to Rs 79 crores. </p> <p>Himalayan Everest Insurance Limited Promoter (HEIP) recorded the highest turnover of Rs. 7.58 crores and closed at a market price of Rs. 412.10.</p> <p>Similarly, NMB Microfinance Bittiya Sanstha Ltd. (NMBMF) gained the highest 10%, hitting the upper circuit for the day.<br /> Meanwhile, RBB Mutual Fund 2 (RMF2) lost all 10% today.</p> <p>Only two sector indices closed in green zone. "Trading Index" gained the highest 0.46% while "Hotels And Tourism Index" lost the highest 0.79% today.</p> <p>Sensitive Index lost 0.12%, while Float Index and Sensitive Float Index shed 0.37% and 0.22% respectively. </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18652', 'image' => '20230905042422_collage (14).jpg', 'article_date' => '2023-09-05 16:21:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18922', 'article_category_id' => '1', 'title' => 'New Stock Brokers Paying High Fees for TMS due to Developer’s Monopoly', 'sub_title' => '', 'summary' => 'September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary market. By using TMS, brokers and investors can buy and sell securities through the Internet. Through TMS, brokers handle investor account opening, transaction risk management, portfolio management, etc. Investors can do their own work such as ordering shares, transferring funds, etc through TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The TMS of Nepal Stock Exchange (NEPSE) is being run by 50 old stock brokers, citizen stock dealers and new brokers who have been allowed to trade. As the new broker has no choice, they are running the same TMS. TMS of NEPSE was built as well as is maintained by YCO.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">SEBON has already given stock broker license to 37 out of 46 companies that applied for new broker license. Some of these brokers have already started trading with permission from NEPSE via TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the market experts, YCO has a monopoly on TMS in Nepal. Therefore, even the old brokers cannot use another TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">With the implementation of the Securities Trading Regulations, 2079 (Third Amendment) by the Board, the way for brokers to operate a separate TMS has been opened. It is said that the old broker has already started the process to bring a separate TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The old 33 brokers are going to use the TMS of Sri Lanka's IronOne Company, Sunny Securities of India's Tata Consultancy Services Limited and NASA Securities of India's Dion Global. The remaining 14 brokers will use NEPSE's TMS which is currently in operation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chairman of Stock Brokers Association of Nepal (SBAN) Dharmaraj Sapkota says that they have been preparing to introduce a new TMS for years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Since we had completed all the preparations one year ago, we announced that we would bring a new TMS from mid-July 2022. For this very purpose, we had set up a separate company.” However, the regulatory body stopped the process of Captech, a company opened by brokers with the aim of introducing a new TMS, by placing several provisions in the Application Program Interface (API) policy. Captech was the appropriate medium for the new TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">After the attempt to bring new a TMS by Captech was stifled, the old stock brokers have started the process of bringing TMS made by Sri Lanka's IronOne Company through the local representative Digihub.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A member of SBAN alleged that NEPSE and YCO together made various excuses and prolonged the process of bringing in a new TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sapkota says, “The new TMS could have been operational by now, which is hindered in the name of data migration and sometimes in the name of policy and audit. Groups with vested interest are prolonging the process.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A senior official of NEPSE said that the work of the new TMS was delayed for a few months due to the testing of “data migration” and “audit”, but now the process is progressing rapidly. The server connection is done. Now, after testing, the new TMS will be operational in a few weeks, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sagar Dhakal, president of New Stock Brokers Association Nepal says, “The intention of most of the new brokers is to use YCO's TMS. There was also talk about the new TMS in our association. However, it is not possible for a new broker to bring a new TMS by investing heavily. Because there is no other option, we are running the TMS of YCO.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">They complain that YCO charges high fees from new brokers because TMS is monopolized by one company. It has been found that YCO charged Rs 500,000 to the new brokers in the name of 'onboarding cost'. Such fee has not been paid by the old stock brokers. Similarly, YCO has charged more than Rs 40,000 per broker from the new brokers list for the 'back office'. It has been found that the old stock brokers Rs 80,000 annually, but new stock brokers are charged Rs 120,000.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dipesh Pradhan, Chief Executive Officer (CEO) of YCO Pvt. Ltd. says that YCO is collaborating with NEPSE as well as the company bringing the new TMS. Pradhan claimed that YCO did not charge more to the new broker companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Earlier, NEPSE worked as a project, so there was no onboarding cost for the broker companies at that time. Now we have only charged the setup and installation fee,” said Pradhan, adding, “We have to charge for hardware, software, manpower etc. Just because we did not charge the old brokers does not mean that the fee will not be charged now.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18651', 'image' => '20230905030017_1693879026.asdasdasd.jpg', 'article_date' => '2023-09-05 14:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18921', 'article_category_id' => '1', 'title' => 'Use of Digital Technology Increasing in Financial System of Nepal', 'sub_title' => '', 'summary' => 'September 5: The use of digital technology has increased in the country's financial system over the last decade.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: The use of digital technology has increased in the country's financial system over the last decade. Financial institutions have automated many services that used to require physical presence and waiting in line. The facilities such as online bill payments, top-ups, online shopping, ticket booking, and digital transactions are now easily accessible with just a click.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, sending remittances was a challenging task, but with the advent of technology in Nepal, the process has become more transparent and efficient. Mobile phones have played a significant role in reshaping the remittance industry, with the introduction of fintech tools like mobile wallets.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">An electronic wallet is an account issued by a payment service provider approved by Nepal Rastra Bank, allowing users to pay for goods and services by depositing money from designated banks and financial institutions. Currently, Nepal has 27 such payment service providers (PSPs), including 10 domestic and other foreign companies operating with permission as Payment System Operators (PSOs).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">PSPs act as intermediaries between receiving payments, making electronic payments, transferring funds, and affiliating with payment system operators. PSOs operate payment switches, automatic clearing, and network of electronic payment cards. Fintech companies bridge the gap between traditional banking services and digital platforms, with PSOs focusing on software development and PSPs providing payment services.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">These companies primarily earn income through transaction commissions and advertisements on their platforms. Many fintech companies in Nepal are in their early stages and prioritize service expansion over profit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Rasmina Ranjit, executive director of Easy Payments, some major companies form syndicates, while others remain less active. She believes that there are many PSPs in Nepal, and the recent mergers of banks and financial institutions have also affected the fintech sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Amit Aggarwal, co-founder and director of Khalti, acknowledges the challenges faced by the fintech sector, including high operating costs and a shortage of IT manpower. He believes that mergers are not feasible in this sector due to different technologies and substantial investments.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Jagdish Khadka, CEO of E-Sewa Wallet, agrees with Agarwal, stating that it's premature to consider mergers at this stage. He emphasizes the need for more companies to work in the sector to increase financial literacy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While digitization has made significant progress in Nepal's financial system, challenges and opportunities coexist in the rapidly evolving fintech sector.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18650', 'image' => '20230905023508_20221023094102_digital payment.jpg', 'article_date' => '2023-09-05 14:34:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18920', 'article_category_id' => '1', 'title' => 'MPs Express Fury over Delay in Handing Prize Money to Cricketers', 'sub_title' => '', 'summary' => 'September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises. At a time when Nepal's national cricket team was contesting against India in the Asia Cup on Monday, the issue of the players not getting the previously announced awards heated up in the House of Representatives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The MPs, during the lower house meeting on Monday, demanded that the award announced to be given to cricket players should be released immediately. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Rastriya Prajatantra Party MP Gyanendra Shahi requested Prime Minister Pushpa Kamal Dahal to release the amount that the government had promised to reward the cricketers with.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government announced that the players of the Nepali national cricket team would be awarded with Rs 300,000 each during the ICC world Cricket League 2 series. In addition to that, the government had also announced Rs 300,000 for playing against the UAE and PNG in the UAE, Rs 300,000 for winning the series against the UAE and PNG, Rs 200,000 announced by the Prime Minister and Rs 600,000 for winning the ACC Premier Cup. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“While Indian captain Rohit Sharma earns Rs 270 million in 1 year, Nepali captain Rohit Poudel's salary is not more than Rs 720,000. Why is the money given to cricket players stopped? Release this money as soon as possible. If not, don't show hollow nationalism," MP Shahi said. He also expressed anger saying who defaulted the declared money. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the lower house meeting, Hari Dhakal, MP of Rastriya Swatantra Party, demanded the government to give the prize money to the cricket players within one week. Speaking at the meeting of the House of Representatives, he questioned the government as to why the money that was supposed to be given to the players was put on hold.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He vented his ire saying, "While we failed to build a stadium in all these decade, look at the palace built that the government for the chief ministers for their visit to Kathmandu.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He commented that if you look at the monthly salary of Nepali cricket players, you will be ashamed.</span></span></span></p> <p> </p> <p> </p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18649', 'image' => '20230905020719_RS-KTM-RSS-_RATL9278.jpg', 'article_date' => '2023-09-05 14:06:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18919', 'article_category_id' => '1', 'title' => 'Minister Instructs Nine Agencies to Coordinate for Road Construction', 'sub_title' => '', 'summary' => 'September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu Valley.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu Valley. Minister Jwala has directed the agencies concerned to improve the roads in the valley immediately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He called the heads of departments and offices of these agencies to the ministry on Sunday and instructed them to start improving the condition of roads in the valley. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The head of Lalitpur metropolis, executive director of Nepal Electricity Authority as well as representatives from the Bagmati Civilization Integrated Development Committee, the Kathmandu Valley Water Supply Limited, Nepal Telecom and other agencies participated in the meeting.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the discussion, the Executive Director of Nepal Electricity Authority, Kulman Ghising, expressed his commitment to improve the road conditions immediately where the works have been completed. He said that the authority is laying underground wires on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers of roads in Kathmandu valley, but he said that although the work has started on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> road sections, it has been completed only in some places.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even where the NEA has completed its works, the condition of roads has not improved. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Kathmandu Valley Water Supply Limited is currently working on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">km stretch of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">roads. Even the water supply utility has not improved the road after laying pipes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18648', 'image' => '20230905084505_1693878525.1691457689.1654072622[1].jpg', 'article_date' => '2023-09-05 08:44:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18918', 'article_category_id' => '1', 'title' => 'Short-Term Interest Rates Fall Moderately, Hinting at Ease in Liquidity Situation', 'sub_title' => '', 'summary' => 'September 5: There has been a general decline in the short-term interest rates of banks and financial institutions.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 5: There has been a general decline in the short-term interest rates of banks and financial institutions. Treasury bills and interbank rates have decreased as credit flow has not increased compared to deposit growth. The interest rate on the renewal of old treasury bills worth Rs 20.4 billion decreased on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank has called for auction bids to renew the treasury bills worth 20.4 billion with a maturity period of 28 days, T-bills worth Rs 5 billion for 91 days, T-bills worth Rs 6.4 billion for 91 days, T-bills worth Rs 7 billion for 182 days and T-bills worth Rs 2 billion for 364 days. Among them, the discount rate of all treasury bills has decreased compared to last week.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The average interest rate has been maintained at 6.1231 percent for T-bills with maturity period of 28 days, 6.1635 percent for 91 days T-bills, 6.4094 percent for 182 days T-bills and 6.4331 percent for 364 days T-bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, the interest rate of 28-day treasury bills issued on August 29 was 6.2084 percent. Similarly, the interest rate of 6.4393 percent was maintained for the 364-day treasury bills issued on August 22. The average interest rate of treasury bills with a maturity period of 128 days issued on August 15 was also maintained at 6.4876 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the inter-bank interest rate charged for transactions between banks has also decreased. According to Nepal Rastra Bank, the interbank interest rate on Sunday stood at 6.31 percent. On the previous day, the interbank interest rate was 6.35 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Treasury bills and interbank interest rates are considered as short-term market interest rates. Increase in interest rates of T-bills and interbank interest rates indicate the liquidity problem in the banking system while the reduction in such interest rates hint at ease in liquidity situation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the first day of this week, deposits worth Rs 4 billion were added to the banking system. Deposits of commercial banks increased by Rs 4 billion to a total of Rs 4961 billion, while deposits of development banks and finance companies remained stable at Rs 673 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, on Sunday, banks' loan disbursements also increased by Rs 2 billion and reached Rs 4882 billion. The loan-to-deposit ratio of banks has decreased to 83.62 percent.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18647', 'image' => '20230905083833_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-05 08:37:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18917', 'article_category_id' => '1', 'title' => 'Putin says Russia 'Open' to Grain Deal Talks as Ukraine Port Hit', 'sub_title' => 'Kyiv Accuses Russia of Undermining Global Food Security', 'summary' => 'September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports overnight.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports overnight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The UN and Turkey-brokered deal, which aimed to ensure safe navigation for civilian ships through the Black Sea, collapsed after Russia pulled out in July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moscow has since repeatedly attacked Ukraine's port infrastructure in what Kyiv says is a cynical attempt to damage its exports and undermine global food security.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Russian drone attack on Monday damaged a grain export hub on the Danube river, officials said, adding that warehouses and agricultural equipment were damaged.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The regional governor Oleg Kiper announced that air defence systems had downed 17 drones.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hours later Putin met his Turkish counterpart Recep Tayyip Erdogan in Sochi, amid hopes the two could restore the deal, with Erdogan promising he would make a "very important" announcement on grain exports after the talks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"I know you intend to raise the issue of the grain deal. We are open to negotiations on this issue," Putin said in televised comments alongside Erdogan. – AFP/RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18646', 'image' => '20230905081742_wheatttttt.jpg', 'article_date' => '2023-09-05 08:15:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18916', 'article_category_id' => '1', 'title' => 'Mushroom Production Surges by 766% in Ten Years', 'sub_title' => '', 'summary' => 'Of late, attraction towards the mushroom farming is increasing in Nepal. Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom farming.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 5: Of late, attraction towards the mushroom farming is increasing in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom farming.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the increasing attraction among farmers in Nepal, modern techniques for mushroom farming have also been introduced. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the introduction of modern technologies, the production of mushroom has also increased, say farmers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Plantation of the mushroom started off some 47 years ago in Nepal. The framing of white mushroom began in 1977.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oyster mushroom farming, on the other hand, started in 1984. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Research and studies on mushroom in Nepal began in 1974. Then, scientists from the Nepal Agricultural Research Council (NARC) had initiated research and studies on mushroom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Initially, mushroom was cultivated in Kathmandu and Bhaktapur alone, but now it has expanded across the country. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last 10 years, mushroom production in Nepal has seen a significant increase. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Ministry of Agriculture and Livestock, mushroom production has increased by 766% in the past 10 years.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the fiscal year 2012/13, there were 1,650 metric tons of fresh mushroom produced, and this number reached 14,300 metric tons in 2021/22.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, mushroom seed production has also increased. In 2012/13, 289,624 bottles of mushroom seeds were produced, whereas in 2021/22, the production reached 1,347,832 bottles.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Santosh Karki, the President of the Mushroom Producers' Association of Nepal, attributes the introduction of new technologies to growth in mushroom production. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Currently, our production meets 80% of the mushroom demand. The rest is imported from countries like India,” Karki said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Karki, there are currently 30,000 to 35,000 farmers involved in mushroom farming in Nepal. Various mushroom species, such as Kanye, Gobre, and Rajalagayat, are being produced in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Karki suggests that the government should provide subsidies based on production to encourage mushroom farming in the country.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“Since Nepal has potential to produce many species of edible mushroom, the government should start research on mushroom farming”, Karki added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">If the government encourages mushroom farming, Nepal can become self-reliant in mushroom and even can export it, Karki opined. </span></span></p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18645', 'image' => '20230905062003_collage (2).jpg', 'article_date' => '2023-09-05 06:17:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $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] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18930', 'article_category_id' => '1', 'title' => ' Ministry of Urban Development to Oversee Waste Management ', 'sub_title' => '', 'summary' => 'September 6: The government is preparing to hand over the responsibility of waste management to the Ministry of Urban Development.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: The government is preparing to hand over the responsibility of waste management to the Ministry of Urban Development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The issue of waste management has become a major challenge, especially in the main cities across the country, including the Kathmandu Valley. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During a meeting held at the Office of the Prime Minister and Council of Ministers (OPMCM) on Tuesday, Prime Minister Pushpa Kamal Dahal said that the responsibility and coordination of waste management will be handed over to the Ministry of Urban Development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The federal government is taking serious measures for waste management across the country, including the Kathmandu Valley. We will take a decision to hand over the waste management responsibility across the country to the Ministry of Urban Development in the next cabinet meeting," said Prime Minister Dahal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prime Minister Dahal emphasized that waste management is a joint responsibility of the federal, provincial and local governments. He also instructed the concerned authorities to do the homework for the long-term management of waste, stating that a legal system and a long-term mechanism will be created for the waste management. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During Tuesday’s meeting, the participants expressed their views on various aspects of the long-term solution to waste management. The issue of waste management at Bancharedanda, demands raised by the local affected by dumping, purchase of land for dumping site and other issues were also discussed during the meeting. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders pointed out the need to form a high-level mechanism for this. In addition, the participants said that legal arrangements are necessary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Minister for Urban Development Sita Gurung, Chief Secretary of the Government of Nepal Dr Baikuntha Aryal, Prime Minister's Office Secretaries Eknarayan Aryal and Maniram Gelal, Urban Development Ministry’s Secretary Rabindraman Shrestha, Investment Board Nepal’s Executive Director Sushil Bhatta, Kathmandu Metropolitan City’s Chief Administrative Officer Basanta Adhikari, Lalitpur Metropolitan City’s Chief Administrative Officer Birendradev Bharti and others were present during the meeting</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18659', 'image' => '20230906015331_20220704024006_Clipboard55.jpg', 'article_date' => '2023-09-06 13:52:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18929', 'article_category_id' => '1', 'title' => 'No Need to Update KYC from One Bank to Another in the Near Future', 'sub_title' => '', 'summary' => 'September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year? ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year? Or because of the lack of KYC update, the account is inactive and you have to suffer? Account holders of banks and financial institutions are current facing such problems.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the Nepal Rastra Bank is preparing to develop a central customer identification system, there is no need to update KYC for each and every bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The proposed central customer identification system can be used by all financial institutions and the customer details will be updated from the system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the monetary policy of the current fiscal year, the central bank announced the establishment of a central customer identification system in order to facilitate the exchange of customer information between banks, financial institutions and other organizations licensed to perform payment-related activities, and to link national identity cards issued by the government to the central customer identification system. As per the announcement, preparations for setting up the central customer identification system have been initiated, said Dilliram Pokharel, joint spokesperson of NRB. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the regulation department of the central bank is currently studying the prospects of the central customer identification system and will coordinate with other agencies later for its implementation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Pokharel said that the customers will get a unique identification number after joining the system. Banks can update the customer's information from that number.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After this system is implemented, the customer only needs to update the information in one place. All the financial institutions will update the KYC from the system, so there will be less hassle for the customers. The central customer identification system (C-KYC) has been used in the securities market since last July. After updating the details in the C-KYC system operated by CDS and Clearing Limited (CDSC), the customer does not need to update the KYC separately at the securities dealers and merchant banks. There is a provision to update KYC by the affiliated company from the number received from CDSC.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of the law related to the prevention of money laundering, financial institutions must keep their customers’ details up to date. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18658', 'image' => '20230906015018_kyc.jpg', 'article_date' => '2023-09-06 13:49:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18928', 'article_category_id' => '1', 'title' => 'Karnali Province Hikes Industry Registration Fees, Offers Discount Facility to Specific Groups ', 'sub_title' => '', 'summary' => 'September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in enterprises. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in enterprises. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest Industry Regulations issued by the provincial government, eligible groups will be entitled to receive discounts of up to 50 percent when registering or renewing their industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the province government has hiked the industry registration and renewal charges based on the size of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Industries are categorized into five groups based on their capital investment, and the registration fees vary accordingly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The industry are categorized as those having the capital up to Rs 500,000, industry with the capital up to Rs 1 million, industries with up to Rs 2 million capital, up to Rs 5 million capital and industries having capital above Rs 5 million. The registration charge for these industries is in the range between Rs 1,000 to Rs 30,000. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18657', 'image' => '20230906012747_Industries.jpg', 'article_date' => '2023-09-06 13:26:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18927', 'article_category_id' => '1', 'title' => 'Bhutan Airlines to Resume Flights to Kathmandu Starting from September 16', 'sub_title' => '', 'summary' => 'September 6: Bhutan's first private airliner, Bhutan Airlines, is all set to resume its flights to Kathmandu.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: Bhutan's first private airliner, Bhutan Airlines,</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is all set to resume its flights to Kathmandu. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Society International Travel Services, the airline company’s general sales agent for Nepal, confirmed that Bhutan Airlines will resume flights to Kathmandu from September 16.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the sales agent, Bhutan Airlines will operate Paro-Kathmandu-Delhi return flights four times a week on every Sunday, Monday, Wednesday and Saturday starting from September 16.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The airline company had stopped flights to Kathmandu due to the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic. It had started flying to Kathmandu from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2013.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18656', 'image' => '20230906122459_Bhutan-Airlines-Business-Class-1.jpeg', 'article_date' => '2023-09-06 12:24:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18926', 'article_category_id' => '1', 'title' => 'CNI President Discusses Investment and Business Promotion with Chinese Ambassador', 'sub_title' => '', 'summary' => 'September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, CNI President Agrawal said that Nepal-China cooperation was vital in the areas of infrastructure development. He added that China is Nepal's one of the key development partner. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Agrawal urged the Chinese Ambassador to accord top priority for investment and cooperation in the areas of technology transfer, skill development and tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI president also urged the Chinese Ambassador to cooperate with the Nepali business community to export Nepali goods in the Chinese market through e-commerce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Chinese Ambassador Song was requested to do something visible in Nepal with the cooperation of CNI and China Council for Promotion of International Trade (CCPIT). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Song suggested that Nepal could develop through the use of national resources including the hydropower generation adding that a long term development strategy was needed. He was of the view that Nepal's imports could be substituted through the increase in usage of clean energy. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18655', 'image' => '20230906112655_20230510013135_cni new.jpg', 'article_date' => '2023-09-06 11:24:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18925', 'article_category_id' => '1', 'title' => 'Shree Krishna Janmashtami being Celebrated across the Country Today ', 'sub_title' => '', 'summary' => 'September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the scriptures, Lord Krishna was born in the midnight of Bhadrakrishna Ashtami or the eighth day of the waning moon in the month of Bhadra as per the Vedic lunar calendar during the Dwapar era more than 5,000 years ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is considered as the eighth incarnation of Lord Vishnu, the protector of the world. He took the form of a human to protect righteousness and to uproot the evil from the world. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Legend has it that Lord Krishna killed the evil king Kansa, who was his maternal uncle, to protect the innocent people and his parents from his cruelty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is better remembered for his philosophical discourse in Bhagvad Gita, where he guides the warrior Arjun towards the right path. The instructions given to Arjun before the great war of Mahabharat are considered relevant even to this day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is also known as "Gopal" for his dedicated service to the cows as a herder. He is also known as "Manmohan" for the melodies he used to play on his flute, charming everyone. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees throng the temples of Lord Krishna including the famous Shree Krishna Temple of Mangal Bazaar in Lalitpur on this day. The renowned and artistic Shree Krishna Temple made up of stones was built by the then King of Patan, Siddhi Narsingh Malla. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various religious organizations and institutions celebrate the birth anniversary of Lord Krishna by organizing colorful processions with the idols of Lord Krishna flanked by decorative portraits. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees, especially women, spend the night chanting prayers and devotional songs, dancing and lighting oil-fed lamps. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides prayers and fasting, the preaching of Lord Krishna are discussed and the message spread among the people on this day. (With inputs from RSS)</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18654', 'image' => '20230906105906_MadhavprasadGhimire_Patan_RSS_20_20230906_063927.jpg', 'article_date' => '2023-09-06 10:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18924', 'article_category_id' => '1', 'title' => 'India Endorses MoU to Purchase 10,000 MW Power from Nepal in Ten Years', 'sub_title' => '', 'summary' => 'India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 5: India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Under this agreement, India has agreed to import 10,000 megawatts (MW) of electricity from Nepal in the next ten years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Nepal's ambassador to India, Dr Shankar Prasad Sharma, the federal Council of Ministers of India formally endorsed the agreement paper on the power trade with</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal and India shared information about this trough social media X (twitter). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He said the decision would contribute to accelerating Nepal's economic development and restructuring efforts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The MoU was initially signed between the two countries during Prime Minister Pushpa Kamal Dahal Prachanda's latest visit to India (May 31-June 3, 2023) and at the time the Prime Minister had termed the agreement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Energy secretaries from both countries signed and exchanged the document. Following India's latest decision to endorse the agreement, the energy secretaries from both neighboring nations will participate in a special ceremony to formally re-sign it.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Joint Secretary at the Ministry of Energy, Hydro Resources and Irrigation and Spokesperson for the Ministry, Madhu Prasad Bhetuwal said they were unofficially informed about the official decision of the Indian government to endorse the agreement and expect to receive an official confirmation regarding the decision.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the decision, door to export the electricity to Indian market in easy and smooth manner has been opened.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Nepal had been urging for power export in Indian market in short-term, mid-term and long-term. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Nepal Electricity Authority (NEA) has been exporting 452 megawatt electricity in Indian Energy market on a daily basis. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal and India had signed power trade agreement in 2014. The Indian Company, Satluj Jal Vidyut Nigam, is constructing 900-megawatt Arun III hydropower project. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although the Indian company, GandhI Mallikarjun Rao, has been saying to construct 900-megawatt Upper Karnali hydropower project, it has not been started yet. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Indian company has forwarded necessary process for the construction of different projects including Lower Arun, West Seti and SR-6.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">An agreement has been reached between Nepal and India to construct some projects with joint investment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal has been making preparation to export 40 megawatt electricity in Bangladesh soon. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The private sector has been demanding the government to grant permission of power trade. The proposed new electricity bill has made this arrangement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Cabinet meeting held on August 29 had given permission to Energy Ministry to table the electricity bill in the Federal Parliament. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18653', 'image' => '20230905055753_collage (16).jpg', 'article_date' => '2023-09-05 17:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18923', 'article_category_id' => '1', 'title' => 'NEPSE’s Downfall Continues to Panic Investors ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week, Tuesday. ', 'content' => '<p>September 5: The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week, Tuesday. </p> <p>Ever since the Nepal Rastra Bank issued the monetary policy for the fiscal year 2023/2024, the benchmark index has been on the downward trend. </p> <p>Stock market experts and seasoned investors attribute the continued downfall of the NEPSE to the NRB’s harsh polices towards the capital market. </p> <p>The investors’ psychology is negative and the market will not pick up the momentum unless the regulators including NRB and the Finance Ministry relax policies related to the stock market, said a veteran investor. </p> <p>During today's trading, a total of 277 scrips exchanged their hands through 25,227 transactions.<br /> A total of 2,480,929 shares were traded, amounting to Rs 79 crores. </p> <p>Himalayan Everest Insurance Limited Promoter (HEIP) recorded the highest turnover of Rs. 7.58 crores and closed at a market price of Rs. 412.10.</p> <p>Similarly, NMB Microfinance Bittiya Sanstha Ltd. (NMBMF) gained the highest 10%, hitting the upper circuit for the day.<br /> Meanwhile, RBB Mutual Fund 2 (RMF2) lost all 10% today.</p> <p>Only two sector indices closed in green zone. "Trading Index" gained the highest 0.46% while "Hotels And Tourism Index" lost the highest 0.79% today.</p> <p>Sensitive Index lost 0.12%, while Float Index and Sensitive Float Index shed 0.37% and 0.22% respectively. </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18652', 'image' => '20230905042422_collage (14).jpg', 'article_date' => '2023-09-05 16:21:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18922', 'article_category_id' => '1', 'title' => 'New Stock Brokers Paying High Fees for TMS due to Developer’s Monopoly', 'sub_title' => '', 'summary' => 'September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary market. By using TMS, brokers and investors can buy and sell securities through the Internet. Through TMS, brokers handle investor account opening, transaction risk management, portfolio management, etc. Investors can do their own work such as ordering shares, transferring funds, etc through TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The TMS of Nepal Stock Exchange (NEPSE) is being run by 50 old stock brokers, citizen stock dealers and new brokers who have been allowed to trade. As the new broker has no choice, they are running the same TMS. TMS of NEPSE was built as well as is maintained by YCO.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">SEBON has already given stock broker license to 37 out of 46 companies that applied for new broker license. Some of these brokers have already started trading with permission from NEPSE via TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the market experts, YCO has a monopoly on TMS in Nepal. Therefore, even the old brokers cannot use another TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">With the implementation of the Securities Trading Regulations, 2079 (Third Amendment) by the Board, the way for brokers to operate a separate TMS has been opened. It is said that the old broker has already started the process to bring a separate TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The old 33 brokers are going to use the TMS of Sri Lanka's IronOne Company, Sunny Securities of India's Tata Consultancy Services Limited and NASA Securities of India's Dion Global. The remaining 14 brokers will use NEPSE's TMS which is currently in operation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chairman of Stock Brokers Association of Nepal (SBAN) Dharmaraj Sapkota says that they have been preparing to introduce a new TMS for years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Since we had completed all the preparations one year ago, we announced that we would bring a new TMS from mid-July 2022. For this very purpose, we had set up a separate company.” However, the regulatory body stopped the process of Captech, a company opened by brokers with the aim of introducing a new TMS, by placing several provisions in the Application Program Interface (API) policy. Captech was the appropriate medium for the new TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">After the attempt to bring new a TMS by Captech was stifled, the old stock brokers have started the process of bringing TMS made by Sri Lanka's IronOne Company through the local representative Digihub.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A member of SBAN alleged that NEPSE and YCO together made various excuses and prolonged the process of bringing in a new TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sapkota says, “The new TMS could have been operational by now, which is hindered in the name of data migration and sometimes in the name of policy and audit. Groups with vested interest are prolonging the process.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A senior official of NEPSE said that the work of the new TMS was delayed for a few months due to the testing of “data migration” and “audit”, but now the process is progressing rapidly. The server connection is done. Now, after testing, the new TMS will be operational in a few weeks, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sagar Dhakal, president of New Stock Brokers Association Nepal says, “The intention of most of the new brokers is to use YCO's TMS. There was also talk about the new TMS in our association. However, it is not possible for a new broker to bring a new TMS by investing heavily. Because there is no other option, we are running the TMS of YCO.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">They complain that YCO charges high fees from new brokers because TMS is monopolized by one company. It has been found that YCO charged Rs 500,000 to the new brokers in the name of 'onboarding cost'. Such fee has not been paid by the old stock brokers. Similarly, YCO has charged more than Rs 40,000 per broker from the new brokers list for the 'back office'. It has been found that the old stock brokers Rs 80,000 annually, but new stock brokers are charged Rs 120,000.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dipesh Pradhan, Chief Executive Officer (CEO) of YCO Pvt. Ltd. says that YCO is collaborating with NEPSE as well as the company bringing the new TMS. Pradhan claimed that YCO did not charge more to the new broker companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Earlier, NEPSE worked as a project, so there was no onboarding cost for the broker companies at that time. Now we have only charged the setup and installation fee,” said Pradhan, adding, “We have to charge for hardware, software, manpower etc. Just because we did not charge the old brokers does not mean that the fee will not be charged now.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18651', 'image' => '20230905030017_1693879026.asdasdasd.jpg', 'article_date' => '2023-09-05 14:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18921', 'article_category_id' => '1', 'title' => 'Use of Digital Technology Increasing in Financial System of Nepal', 'sub_title' => '', 'summary' => 'September 5: The use of digital technology has increased in the country's financial system over the last decade.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: The use of digital technology has increased in the country's financial system over the last decade. Financial institutions have automated many services that used to require physical presence and waiting in line. The facilities such as online bill payments, top-ups, online shopping, ticket booking, and digital transactions are now easily accessible with just a click.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, sending remittances was a challenging task, but with the advent of technology in Nepal, the process has become more transparent and efficient. Mobile phones have played a significant role in reshaping the remittance industry, with the introduction of fintech tools like mobile wallets.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">An electronic wallet is an account issued by a payment service provider approved by Nepal Rastra Bank, allowing users to pay for goods and services by depositing money from designated banks and financial institutions. Currently, Nepal has 27 such payment service providers (PSPs), including 10 domestic and other foreign companies operating with permission as Payment System Operators (PSOs).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">PSPs act as intermediaries between receiving payments, making electronic payments, transferring funds, and affiliating with payment system operators. PSOs operate payment switches, automatic clearing, and network of electronic payment cards. Fintech companies bridge the gap between traditional banking services and digital platforms, with PSOs focusing on software development and PSPs providing payment services.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">These companies primarily earn income through transaction commissions and advertisements on their platforms. Many fintech companies in Nepal are in their early stages and prioritize service expansion over profit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Rasmina Ranjit, executive director of Easy Payments, some major companies form syndicates, while others remain less active. She believes that there are many PSPs in Nepal, and the recent mergers of banks and financial institutions have also affected the fintech sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Amit Aggarwal, co-founder and director of Khalti, acknowledges the challenges faced by the fintech sector, including high operating costs and a shortage of IT manpower. He believes that mergers are not feasible in this sector due to different technologies and substantial investments.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Jagdish Khadka, CEO of E-Sewa Wallet, agrees with Agarwal, stating that it's premature to consider mergers at this stage. He emphasizes the need for more companies to work in the sector to increase financial literacy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While digitization has made significant progress in Nepal's financial system, challenges and opportunities coexist in the rapidly evolving fintech sector.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18650', 'image' => '20230905023508_20221023094102_digital payment.jpg', 'article_date' => '2023-09-05 14:34:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18920', 'article_category_id' => '1', 'title' => 'MPs Express Fury over Delay in Handing Prize Money to Cricketers', 'sub_title' => '', 'summary' => 'September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises. At a time when Nepal's national cricket team was contesting against India in the Asia Cup on Monday, the issue of the players not getting the previously announced awards heated up in the House of Representatives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The MPs, during the lower house meeting on Monday, demanded that the award announced to be given to cricket players should be released immediately. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Rastriya Prajatantra Party MP Gyanendra Shahi requested Prime Minister Pushpa Kamal Dahal to release the amount that the government had promised to reward the cricketers with.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government announced that the players of the Nepali national cricket team would be awarded with Rs 300,000 each during the ICC world Cricket League 2 series. In addition to that, the government had also announced Rs 300,000 for playing against the UAE and PNG in the UAE, Rs 300,000 for winning the series against the UAE and PNG, Rs 200,000 announced by the Prime Minister and Rs 600,000 for winning the ACC Premier Cup. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“While Indian captain Rohit Sharma earns Rs 270 million in 1 year, Nepali captain Rohit Poudel's salary is not more than Rs 720,000. Why is the money given to cricket players stopped? Release this money as soon as possible. If not, don't show hollow nationalism," MP Shahi said. He also expressed anger saying who defaulted the declared money. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the lower house meeting, Hari Dhakal, MP of Rastriya Swatantra Party, demanded the government to give the prize money to the cricket players within one week. Speaking at the meeting of the House of Representatives, he questioned the government as to why the money that was supposed to be given to the players was put on hold.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He vented his ire saying, "While we failed to build a stadium in all these decade, look at the palace built that the government for the chief ministers for their visit to Kathmandu.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He commented that if you look at the monthly salary of Nepali cricket players, you will be ashamed.</span></span></span></p> <p> </p> <p> </p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18649', 'image' => '20230905020719_RS-KTM-RSS-_RATL9278.jpg', 'article_date' => '2023-09-05 14:06:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18919', 'article_category_id' => '1', 'title' => 'Minister Instructs Nine Agencies to Coordinate for Road Construction', 'sub_title' => '', 'summary' => 'September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu Valley.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu Valley. Minister Jwala has directed the agencies concerned to improve the roads in the valley immediately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He called the heads of departments and offices of these agencies to the ministry on Sunday and instructed them to start improving the condition of roads in the valley. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The head of Lalitpur metropolis, executive director of Nepal Electricity Authority as well as representatives from the Bagmati Civilization Integrated Development Committee, the Kathmandu Valley Water Supply Limited, Nepal Telecom and other agencies participated in the meeting.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the discussion, the Executive Director of Nepal Electricity Authority, Kulman Ghising, expressed his commitment to improve the road conditions immediately where the works have been completed. He said that the authority is laying underground wires on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers of roads in Kathmandu valley, but he said that although the work has started on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> road sections, it has been completed only in some places.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even where the NEA has completed its works, the condition of roads has not improved. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Kathmandu Valley Water Supply Limited is currently working on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">km stretch of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">roads. Even the water supply utility has not improved the road after laying pipes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18648', 'image' => '20230905084505_1693878525.1691457689.1654072622[1].jpg', 'article_date' => '2023-09-05 08:44:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18918', 'article_category_id' => '1', 'title' => 'Short-Term Interest Rates Fall Moderately, Hinting at Ease in Liquidity Situation', 'sub_title' => '', 'summary' => 'September 5: There has been a general decline in the short-term interest rates of banks and financial institutions.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 5: There has been a general decline in the short-term interest rates of banks and financial institutions. Treasury bills and interbank rates have decreased as credit flow has not increased compared to deposit growth. The interest rate on the renewal of old treasury bills worth Rs 20.4 billion decreased on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank has called for auction bids to renew the treasury bills worth 20.4 billion with a maturity period of 28 days, T-bills worth Rs 5 billion for 91 days, T-bills worth Rs 6.4 billion for 91 days, T-bills worth Rs 7 billion for 182 days and T-bills worth Rs 2 billion for 364 days. Among them, the discount rate of all treasury bills has decreased compared to last week.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The average interest rate has been maintained at 6.1231 percent for T-bills with maturity period of 28 days, 6.1635 percent for 91 days T-bills, 6.4094 percent for 182 days T-bills and 6.4331 percent for 364 days T-bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, the interest rate of 28-day treasury bills issued on August 29 was 6.2084 percent. Similarly, the interest rate of 6.4393 percent was maintained for the 364-day treasury bills issued on August 22. The average interest rate of treasury bills with a maturity period of 128 days issued on August 15 was also maintained at 6.4876 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the inter-bank interest rate charged for transactions between banks has also decreased. According to Nepal Rastra Bank, the interbank interest rate on Sunday stood at 6.31 percent. On the previous day, the interbank interest rate was 6.35 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Treasury bills and interbank interest rates are considered as short-term market interest rates. Increase in interest rates of T-bills and interbank interest rates indicate the liquidity problem in the banking system while the reduction in such interest rates hint at ease in liquidity situation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the first day of this week, deposits worth Rs 4 billion were added to the banking system. Deposits of commercial banks increased by Rs 4 billion to a total of Rs 4961 billion, while deposits of development banks and finance companies remained stable at Rs 673 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, on Sunday, banks' loan disbursements also increased by Rs 2 billion and reached Rs 4882 billion. The loan-to-deposit ratio of banks has decreased to 83.62 percent.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18647', 'image' => '20230905083833_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-05 08:37:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18917', 'article_category_id' => '1', 'title' => 'Putin says Russia 'Open' to Grain Deal Talks as Ukraine Port Hit', 'sub_title' => 'Kyiv Accuses Russia of Undermining Global Food Security', 'summary' => 'September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports overnight.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports overnight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The UN and Turkey-brokered deal, which aimed to ensure safe navigation for civilian ships through the Black Sea, collapsed after Russia pulled out in July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moscow has since repeatedly attacked Ukraine's port infrastructure in what Kyiv says is a cynical attempt to damage its exports and undermine global food security.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Russian drone attack on Monday damaged a grain export hub on the Danube river, officials said, adding that warehouses and agricultural equipment were damaged.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The regional governor Oleg Kiper announced that air defence systems had downed 17 drones.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hours later Putin met his Turkish counterpart Recep Tayyip Erdogan in Sochi, amid hopes the two could restore the deal, with Erdogan promising he would make a "very important" announcement on grain exports after the talks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"I know you intend to raise the issue of the grain deal. We are open to negotiations on this issue," Putin said in televised comments alongside Erdogan. – AFP/RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18646', 'image' => '20230905081742_wheatttttt.jpg', 'article_date' => '2023-09-05 08:15:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18916', 'article_category_id' => '1', 'title' => 'Mushroom Production Surges by 766% in Ten Years', 'sub_title' => '', 'summary' => 'Of late, attraction towards the mushroom farming is increasing in Nepal. Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom farming.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 5: Of late, attraction towards the mushroom farming is increasing in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom farming.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the increasing attraction among farmers in Nepal, modern techniques for mushroom farming have also been introduced. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the introduction of modern technologies, the production of mushroom has also increased, say farmers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Plantation of the mushroom started off some 47 years ago in Nepal. The framing of white mushroom began in 1977.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oyster mushroom farming, on the other hand, started in 1984. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Research and studies on mushroom in Nepal began in 1974. Then, scientists from the Nepal Agricultural Research Council (NARC) had initiated research and studies on mushroom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Initially, mushroom was cultivated in Kathmandu and Bhaktapur alone, but now it has expanded across the country. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last 10 years, mushroom production in Nepal has seen a significant increase. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Ministry of Agriculture and Livestock, mushroom production has increased by 766% in the past 10 years.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the fiscal year 2012/13, there were 1,650 metric tons of fresh mushroom produced, and this number reached 14,300 metric tons in 2021/22.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, mushroom seed production has also increased. In 2012/13, 289,624 bottles of mushroom seeds were produced, whereas in 2021/22, the production reached 1,347,832 bottles.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Santosh Karki, the President of the Mushroom Producers' Association of Nepal, attributes the introduction of new technologies to growth in mushroom production. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Currently, our production meets 80% of the mushroom demand. The rest is imported from countries like India,” Karki said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Karki, there are currently 30,000 to 35,000 farmers involved in mushroom farming in Nepal. Various mushroom species, such as Kanye, Gobre, and Rajalagayat, are being produced in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Karki suggests that the government should provide subsidies based on production to encourage mushroom farming in the country.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“Since Nepal has potential to produce many species of edible mushroom, the government should start research on mushroom farming”, Karki added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">If the government encourages mushroom farming, Nepal can become self-reliant in mushroom and even can export it, Karki opined. </span></span></p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18645', 'image' => '20230905062003_collage (2).jpg', 'article_date' => '2023-09-05 06:17:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $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
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We will take a decision to hand over the waste management responsibility across the country to the Ministry of Urban Development in the next cabinet meeting," said Prime Minister Dahal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prime Minister Dahal emphasized that waste management is a joint responsibility of the federal, provincial and local governments. He also instructed the concerned authorities to do the homework for the long-term management of waste, stating that a legal system and a long-term mechanism will be created for the waste management. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During Tuesday’s meeting, the participants expressed their views on various aspects of the long-term solution to waste management. The issue of waste management at Bancharedanda, demands raised by the local affected by dumping, purchase of land for dumping site and other issues were also discussed during the meeting. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders pointed out the need to form a high-level mechanism for this. In addition, the participants said that legal arrangements are necessary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Minister for Urban Development Sita Gurung, Chief Secretary of the Government of Nepal Dr Baikuntha Aryal, Prime Minister's Office Secretaries Eknarayan Aryal and Maniram Gelal, Urban Development Ministry’s Secretary Rabindraman Shrestha, Investment Board Nepal’s Executive Director Sushil Bhatta, Kathmandu Metropolitan City’s Chief Administrative Officer Basanta Adhikari, Lalitpur Metropolitan City’s Chief Administrative Officer Birendradev Bharti and others were present during the meeting</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18659', 'image' => '20230906015331_20220704024006_Clipboard55.jpg', 'article_date' => '2023-09-06 13:52:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18929', 'article_category_id' => '1', 'title' => 'No Need to Update KYC from One Bank to Another in the Near Future', 'sub_title' => '', 'summary' => 'September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year? ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year? Or because of the lack of KYC update, the account is inactive and you have to suffer? Account holders of banks and financial institutions are current facing such problems.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the Nepal Rastra Bank is preparing to develop a central customer identification system, there is no need to update KYC for each and every bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The proposed central customer identification system can be used by all financial institutions and the customer details will be updated from the system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the monetary policy of the current fiscal year, the central bank announced the establishment of a central customer identification system in order to facilitate the exchange of customer information between banks, financial institutions and other organizations licensed to perform payment-related activities, and to link national identity cards issued by the government to the central customer identification system. As per the announcement, preparations for setting up the central customer identification system have been initiated, said Dilliram Pokharel, joint spokesperson of NRB. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the regulation department of the central bank is currently studying the prospects of the central customer identification system and will coordinate with other agencies later for its implementation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Pokharel said that the customers will get a unique identification number after joining the system. Banks can update the customer's information from that number.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After this system is implemented, the customer only needs to update the information in one place. All the financial institutions will update the KYC from the system, so there will be less hassle for the customers. The central customer identification system (C-KYC) has been used in the securities market since last July. After updating the details in the C-KYC system operated by CDS and Clearing Limited (CDSC), the customer does not need to update the KYC separately at the securities dealers and merchant banks. There is a provision to update KYC by the affiliated company from the number received from CDSC.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of the law related to the prevention of money laundering, financial institutions must keep their customers’ details up to date. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18658', 'image' => '20230906015018_kyc.jpg', 'article_date' => '2023-09-06 13:49:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18928', 'article_category_id' => '1', 'title' => 'Karnali Province Hikes Industry Registration Fees, Offers Discount Facility to Specific Groups ', 'sub_title' => '', 'summary' => 'September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in enterprises. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in enterprises. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest Industry Regulations issued by the provincial government, eligible groups will be entitled to receive discounts of up to 50 percent when registering or renewing their industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the province government has hiked the industry registration and renewal charges based on the size of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Industries are categorized into five groups based on their capital investment, and the registration fees vary accordingly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The industry are categorized as those having the capital up to Rs 500,000, industry with the capital up to Rs 1 million, industries with up to Rs 2 million capital, up to Rs 5 million capital and industries having capital above Rs 5 million. The registration charge for these industries is in the range between Rs 1,000 to Rs 30,000. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18657', 'image' => '20230906012747_Industries.jpg', 'article_date' => '2023-09-06 13:26:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18927', 'article_category_id' => '1', 'title' => 'Bhutan Airlines to Resume Flights to Kathmandu Starting from September 16', 'sub_title' => '', 'summary' => 'September 6: Bhutan's first private airliner, Bhutan Airlines, is all set to resume its flights to Kathmandu.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: Bhutan's first private airliner, Bhutan Airlines,</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is all set to resume its flights to Kathmandu. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Society International Travel Services, the airline company’s general sales agent for Nepal, confirmed that Bhutan Airlines will resume flights to Kathmandu from September 16.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the sales agent, Bhutan Airlines will operate Paro-Kathmandu-Delhi return flights four times a week on every Sunday, Monday, Wednesday and Saturday starting from September 16.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The airline company had stopped flights to Kathmandu due to the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic. It had started flying to Kathmandu from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2013.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18656', 'image' => '20230906122459_Bhutan-Airlines-Business-Class-1.jpeg', 'article_date' => '2023-09-06 12:24:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18926', 'article_category_id' => '1', 'title' => 'CNI President Discusses Investment and Business Promotion with Chinese Ambassador', 'sub_title' => '', 'summary' => 'September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, CNI President Agrawal said that Nepal-China cooperation was vital in the areas of infrastructure development. He added that China is Nepal's one of the key development partner. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Agrawal urged the Chinese Ambassador to accord top priority for investment and cooperation in the areas of technology transfer, skill development and tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI president also urged the Chinese Ambassador to cooperate with the Nepali business community to export Nepali goods in the Chinese market through e-commerce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Chinese Ambassador Song was requested to do something visible in Nepal with the cooperation of CNI and China Council for Promotion of International Trade (CCPIT). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Song suggested that Nepal could develop through the use of national resources including the hydropower generation adding that a long term development strategy was needed. He was of the view that Nepal's imports could be substituted through the increase in usage of clean energy. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18655', 'image' => '20230906112655_20230510013135_cni new.jpg', 'article_date' => '2023-09-06 11:24:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18925', 'article_category_id' => '1', 'title' => 'Shree Krishna Janmashtami being Celebrated across the Country Today ', 'sub_title' => '', 'summary' => 'September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the scriptures, Lord Krishna was born in the midnight of Bhadrakrishna Ashtami or the eighth day of the waning moon in the month of Bhadra as per the Vedic lunar calendar during the Dwapar era more than 5,000 years ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is considered as the eighth incarnation of Lord Vishnu, the protector of the world. He took the form of a human to protect righteousness and to uproot the evil from the world. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Legend has it that Lord Krishna killed the evil king Kansa, who was his maternal uncle, to protect the innocent people and his parents from his cruelty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is better remembered for his philosophical discourse in Bhagvad Gita, where he guides the warrior Arjun towards the right path. The instructions given to Arjun before the great war of Mahabharat are considered relevant even to this day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is also known as "Gopal" for his dedicated service to the cows as a herder. He is also known as "Manmohan" for the melodies he used to play on his flute, charming everyone. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees throng the temples of Lord Krishna including the famous Shree Krishna Temple of Mangal Bazaar in Lalitpur on this day. The renowned and artistic Shree Krishna Temple made up of stones was built by the then King of Patan, Siddhi Narsingh Malla. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various religious organizations and institutions celebrate the birth anniversary of Lord Krishna by organizing colorful processions with the idols of Lord Krishna flanked by decorative portraits. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees, especially women, spend the night chanting prayers and devotional songs, dancing and lighting oil-fed lamps. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides prayers and fasting, the preaching of Lord Krishna are discussed and the message spread among the people on this day. (With inputs from RSS)</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18654', 'image' => '20230906105906_MadhavprasadGhimire_Patan_RSS_20_20230906_063927.jpg', 'article_date' => '2023-09-06 10:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18924', 'article_category_id' => '1', 'title' => 'India Endorses MoU to Purchase 10,000 MW Power from Nepal in Ten Years', 'sub_title' => '', 'summary' => 'India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 5: India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Under this agreement, India has agreed to import 10,000 megawatts (MW) of electricity from Nepal in the next ten years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Nepal's ambassador to India, Dr Shankar Prasad Sharma, the federal Council of Ministers of India formally endorsed the agreement paper on the power trade with</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal and India shared information about this trough social media X (twitter). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He said the decision would contribute to accelerating Nepal's economic development and restructuring efforts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The MoU was initially signed between the two countries during Prime Minister Pushpa Kamal Dahal Prachanda's latest visit to India (May 31-June 3, 2023) and at the time the Prime Minister had termed the agreement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Energy secretaries from both countries signed and exchanged the document. Following India's latest decision to endorse the agreement, the energy secretaries from both neighboring nations will participate in a special ceremony to formally re-sign it.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Joint Secretary at the Ministry of Energy, Hydro Resources and Irrigation and Spokesperson for the Ministry, Madhu Prasad Bhetuwal said they were unofficially informed about the official decision of the Indian government to endorse the agreement and expect to receive an official confirmation regarding the decision.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the decision, door to export the electricity to Indian market in easy and smooth manner has been opened.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Nepal had been urging for power export in Indian market in short-term, mid-term and long-term. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Nepal Electricity Authority (NEA) has been exporting 452 megawatt electricity in Indian Energy market on a daily basis. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal and India had signed power trade agreement in 2014. The Indian Company, Satluj Jal Vidyut Nigam, is constructing 900-megawatt Arun III hydropower project. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although the Indian company, GandhI Mallikarjun Rao, has been saying to construct 900-megawatt Upper Karnali hydropower project, it has not been started yet. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Indian company has forwarded necessary process for the construction of different projects including Lower Arun, West Seti and SR-6.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">An agreement has been reached between Nepal and India to construct some projects with joint investment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal has been making preparation to export 40 megawatt electricity in Bangladesh soon. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The private sector has been demanding the government to grant permission of power trade. The proposed new electricity bill has made this arrangement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Cabinet meeting held on August 29 had given permission to Energy Ministry to table the electricity bill in the Federal Parliament. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18653', 'image' => '20230905055753_collage (16).jpg', 'article_date' => '2023-09-05 17:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18923', 'article_category_id' => '1', 'title' => 'NEPSE’s Downfall Continues to Panic Investors ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week, Tuesday. ', 'content' => '<p>September 5: The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week, Tuesday. </p> <p>Ever since the Nepal Rastra Bank issued the monetary policy for the fiscal year 2023/2024, the benchmark index has been on the downward trend. </p> <p>Stock market experts and seasoned investors attribute the continued downfall of the NEPSE to the NRB’s harsh polices towards the capital market. </p> <p>The investors’ psychology is negative and the market will not pick up the momentum unless the regulators including NRB and the Finance Ministry relax policies related to the stock market, said a veteran investor. </p> <p>During today's trading, a total of 277 scrips exchanged their hands through 25,227 transactions.<br /> A total of 2,480,929 shares were traded, amounting to Rs 79 crores. </p> <p>Himalayan Everest Insurance Limited Promoter (HEIP) recorded the highest turnover of Rs. 7.58 crores and closed at a market price of Rs. 412.10.</p> <p>Similarly, NMB Microfinance Bittiya Sanstha Ltd. (NMBMF) gained the highest 10%, hitting the upper circuit for the day.<br /> Meanwhile, RBB Mutual Fund 2 (RMF2) lost all 10% today.</p> <p>Only two sector indices closed in green zone. "Trading Index" gained the highest 0.46% while "Hotels And Tourism Index" lost the highest 0.79% today.</p> <p>Sensitive Index lost 0.12%, while Float Index and Sensitive Float Index shed 0.37% and 0.22% respectively. </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18652', 'image' => '20230905042422_collage (14).jpg', 'article_date' => '2023-09-05 16:21:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18922', 'article_category_id' => '1', 'title' => 'New Stock Brokers Paying High Fees for TMS due to Developer’s Monopoly', 'sub_title' => '', 'summary' => 'September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary market. By using TMS, brokers and investors can buy and sell securities through the Internet. Through TMS, brokers handle investor account opening, transaction risk management, portfolio management, etc. Investors can do their own work such as ordering shares, transferring funds, etc through TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The TMS of Nepal Stock Exchange (NEPSE) is being run by 50 old stock brokers, citizen stock dealers and new brokers who have been allowed to trade. As the new broker has no choice, they are running the same TMS. TMS of NEPSE was built as well as is maintained by YCO.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">SEBON has already given stock broker license to 37 out of 46 companies that applied for new broker license. Some of these brokers have already started trading with permission from NEPSE via TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the market experts, YCO has a monopoly on TMS in Nepal. Therefore, even the old brokers cannot use another TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">With the implementation of the Securities Trading Regulations, 2079 (Third Amendment) by the Board, the way for brokers to operate a separate TMS has been opened. It is said that the old broker has already started the process to bring a separate TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The old 33 brokers are going to use the TMS of Sri Lanka's IronOne Company, Sunny Securities of India's Tata Consultancy Services Limited and NASA Securities of India's Dion Global. The remaining 14 brokers will use NEPSE's TMS which is currently in operation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chairman of Stock Brokers Association of Nepal (SBAN) Dharmaraj Sapkota says that they have been preparing to introduce a new TMS for years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Since we had completed all the preparations one year ago, we announced that we would bring a new TMS from mid-July 2022. For this very purpose, we had set up a separate company.” However, the regulatory body stopped the process of Captech, a company opened by brokers with the aim of introducing a new TMS, by placing several provisions in the Application Program Interface (API) policy. Captech was the appropriate medium for the new TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">After the attempt to bring new a TMS by Captech was stifled, the old stock brokers have started the process of bringing TMS made by Sri Lanka's IronOne Company through the local representative Digihub.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A member of SBAN alleged that NEPSE and YCO together made various excuses and prolonged the process of bringing in a new TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sapkota says, “The new TMS could have been operational by now, which is hindered in the name of data migration and sometimes in the name of policy and audit. Groups with vested interest are prolonging the process.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A senior official of NEPSE said that the work of the new TMS was delayed for a few months due to the testing of “data migration” and “audit”, but now the process is progressing rapidly. The server connection is done. Now, after testing, the new TMS will be operational in a few weeks, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sagar Dhakal, president of New Stock Brokers Association Nepal says, “The intention of most of the new brokers is to use YCO's TMS. There was also talk about the new TMS in our association. However, it is not possible for a new broker to bring a new TMS by investing heavily. Because there is no other option, we are running the TMS of YCO.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">They complain that YCO charges high fees from new brokers because TMS is monopolized by one company. It has been found that YCO charged Rs 500,000 to the new brokers in the name of 'onboarding cost'. Such fee has not been paid by the old stock brokers. Similarly, YCO has charged more than Rs 40,000 per broker from the new brokers list for the 'back office'. It has been found that the old stock brokers Rs 80,000 annually, but new stock brokers are charged Rs 120,000.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dipesh Pradhan, Chief Executive Officer (CEO) of YCO Pvt. Ltd. says that YCO is collaborating with NEPSE as well as the company bringing the new TMS. Pradhan claimed that YCO did not charge more to the new broker companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Earlier, NEPSE worked as a project, so there was no onboarding cost for the broker companies at that time. Now we have only charged the setup and installation fee,” said Pradhan, adding, “We have to charge for hardware, software, manpower etc. Just because we did not charge the old brokers does not mean that the fee will not be charged now.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18651', 'image' => '20230905030017_1693879026.asdasdasd.jpg', 'article_date' => '2023-09-05 14:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18921', 'article_category_id' => '1', 'title' => 'Use of Digital Technology Increasing in Financial System of Nepal', 'sub_title' => '', 'summary' => 'September 5: The use of digital technology has increased in the country's financial system over the last decade.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: The use of digital technology has increased in the country's financial system over the last decade. Financial institutions have automated many services that used to require physical presence and waiting in line. The facilities such as online bill payments, top-ups, online shopping, ticket booking, and digital transactions are now easily accessible with just a click.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, sending remittances was a challenging task, but with the advent of technology in Nepal, the process has become more transparent and efficient. Mobile phones have played a significant role in reshaping the remittance industry, with the introduction of fintech tools like mobile wallets.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">An electronic wallet is an account issued by a payment service provider approved by Nepal Rastra Bank, allowing users to pay for goods and services by depositing money from designated banks and financial institutions. Currently, Nepal has 27 such payment service providers (PSPs), including 10 domestic and other foreign companies operating with permission as Payment System Operators (PSOs).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">PSPs act as intermediaries between receiving payments, making electronic payments, transferring funds, and affiliating with payment system operators. PSOs operate payment switches, automatic clearing, and network of electronic payment cards. Fintech companies bridge the gap between traditional banking services and digital platforms, with PSOs focusing on software development and PSPs providing payment services.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">These companies primarily earn income through transaction commissions and advertisements on their platforms. Many fintech companies in Nepal are in their early stages and prioritize service expansion over profit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Rasmina Ranjit, executive director of Easy Payments, some major companies form syndicates, while others remain less active. She believes that there are many PSPs in Nepal, and the recent mergers of banks and financial institutions have also affected the fintech sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Amit Aggarwal, co-founder and director of Khalti, acknowledges the challenges faced by the fintech sector, including high operating costs and a shortage of IT manpower. He believes that mergers are not feasible in this sector due to different technologies and substantial investments.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Jagdish Khadka, CEO of E-Sewa Wallet, agrees with Agarwal, stating that it's premature to consider mergers at this stage. He emphasizes the need for more companies to work in the sector to increase financial literacy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While digitization has made significant progress in Nepal's financial system, challenges and opportunities coexist in the rapidly evolving fintech sector.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18650', 'image' => '20230905023508_20221023094102_digital payment.jpg', 'article_date' => '2023-09-05 14:34:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18920', 'article_category_id' => '1', 'title' => 'MPs Express Fury over Delay in Handing Prize Money to Cricketers', 'sub_title' => '', 'summary' => 'September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises. At a time when Nepal's national cricket team was contesting against India in the Asia Cup on Monday, the issue of the players not getting the previously announced awards heated up in the House of Representatives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The MPs, during the lower house meeting on Monday, demanded that the award announced to be given to cricket players should be released immediately. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Rastriya Prajatantra Party MP Gyanendra Shahi requested Prime Minister Pushpa Kamal Dahal to release the amount that the government had promised to reward the cricketers with.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government announced that the players of the Nepali national cricket team would be awarded with Rs 300,000 each during the ICC world Cricket League 2 series. In addition to that, the government had also announced Rs 300,000 for playing against the UAE and PNG in the UAE, Rs 300,000 for winning the series against the UAE and PNG, Rs 200,000 announced by the Prime Minister and Rs 600,000 for winning the ACC Premier Cup. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“While Indian captain Rohit Sharma earns Rs 270 million in 1 year, Nepali captain Rohit Poudel's salary is not more than Rs 720,000. Why is the money given to cricket players stopped? Release this money as soon as possible. If not, don't show hollow nationalism," MP Shahi said. He also expressed anger saying who defaulted the declared money. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the lower house meeting, Hari Dhakal, MP of Rastriya Swatantra Party, demanded the government to give the prize money to the cricket players within one week. Speaking at the meeting of the House of Representatives, he questioned the government as to why the money that was supposed to be given to the players was put on hold.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He vented his ire saying, "While we failed to build a stadium in all these decade, look at the palace built that the government for the chief ministers for their visit to Kathmandu.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He commented that if you look at the monthly salary of Nepali cricket players, you will be ashamed.</span></span></span></p> <p> </p> <p> </p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18649', 'image' => '20230905020719_RS-KTM-RSS-_RATL9278.jpg', 'article_date' => '2023-09-05 14:06:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18919', 'article_category_id' => '1', 'title' => 'Minister Instructs Nine Agencies to Coordinate for Road Construction', 'sub_title' => '', 'summary' => 'September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu Valley.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu Valley. Minister Jwala has directed the agencies concerned to improve the roads in the valley immediately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He called the heads of departments and offices of these agencies to the ministry on Sunday and instructed them to start improving the condition of roads in the valley. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The head of Lalitpur metropolis, executive director of Nepal Electricity Authority as well as representatives from the Bagmati Civilization Integrated Development Committee, the Kathmandu Valley Water Supply Limited, Nepal Telecom and other agencies participated in the meeting.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the discussion, the Executive Director of Nepal Electricity Authority, Kulman Ghising, expressed his commitment to improve the road conditions immediately where the works have been completed. He said that the authority is laying underground wires on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers of roads in Kathmandu valley, but he said that although the work has started on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> road sections, it has been completed only in some places.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even where the NEA has completed its works, the condition of roads has not improved. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Kathmandu Valley Water Supply Limited is currently working on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">km stretch of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">roads. Even the water supply utility has not improved the road after laying pipes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18648', 'image' => '20230905084505_1693878525.1691457689.1654072622[1].jpg', 'article_date' => '2023-09-05 08:44:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18918', 'article_category_id' => '1', 'title' => 'Short-Term Interest Rates Fall Moderately, Hinting at Ease in Liquidity Situation', 'sub_title' => '', 'summary' => 'September 5: There has been a general decline in the short-term interest rates of banks and financial institutions.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 5: There has been a general decline in the short-term interest rates of banks and financial institutions. Treasury bills and interbank rates have decreased as credit flow has not increased compared to deposit growth. The interest rate on the renewal of old treasury bills worth Rs 20.4 billion decreased on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank has called for auction bids to renew the treasury bills worth 20.4 billion with a maturity period of 28 days, T-bills worth Rs 5 billion for 91 days, T-bills worth Rs 6.4 billion for 91 days, T-bills worth Rs 7 billion for 182 days and T-bills worth Rs 2 billion for 364 days. Among them, the discount rate of all treasury bills has decreased compared to last week.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The average interest rate has been maintained at 6.1231 percent for T-bills with maturity period of 28 days, 6.1635 percent for 91 days T-bills, 6.4094 percent for 182 days T-bills and 6.4331 percent for 364 days T-bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, the interest rate of 28-day treasury bills issued on August 29 was 6.2084 percent. Similarly, the interest rate of 6.4393 percent was maintained for the 364-day treasury bills issued on August 22. The average interest rate of treasury bills with a maturity period of 128 days issued on August 15 was also maintained at 6.4876 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the inter-bank interest rate charged for transactions between banks has also decreased. According to Nepal Rastra Bank, the interbank interest rate on Sunday stood at 6.31 percent. On the previous day, the interbank interest rate was 6.35 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Treasury bills and interbank interest rates are considered as short-term market interest rates. Increase in interest rates of T-bills and interbank interest rates indicate the liquidity problem in the banking system while the reduction in such interest rates hint at ease in liquidity situation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the first day of this week, deposits worth Rs 4 billion were added to the banking system. Deposits of commercial banks increased by Rs 4 billion to a total of Rs 4961 billion, while deposits of development banks and finance companies remained stable at Rs 673 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, on Sunday, banks' loan disbursements also increased by Rs 2 billion and reached Rs 4882 billion. The loan-to-deposit ratio of banks has decreased to 83.62 percent.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18647', 'image' => '20230905083833_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-05 08:37:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18917', 'article_category_id' => '1', 'title' => 'Putin says Russia 'Open' to Grain Deal Talks as Ukraine Port Hit', 'sub_title' => 'Kyiv Accuses Russia of Undermining Global Food Security', 'summary' => 'September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports overnight.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports overnight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The UN and Turkey-brokered deal, which aimed to ensure safe navigation for civilian ships through the Black Sea, collapsed after Russia pulled out in July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moscow has since repeatedly attacked Ukraine's port infrastructure in what Kyiv says is a cynical attempt to damage its exports and undermine global food security.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Russian drone attack on Monday damaged a grain export hub on the Danube river, officials said, adding that warehouses and agricultural equipment were damaged.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The regional governor Oleg Kiper announced that air defence systems had downed 17 drones.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hours later Putin met his Turkish counterpart Recep Tayyip Erdogan in Sochi, amid hopes the two could restore the deal, with Erdogan promising he would make a "very important" announcement on grain exports after the talks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"I know you intend to raise the issue of the grain deal. We are open to negotiations on this issue," Putin said in televised comments alongside Erdogan. – AFP/RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18646', 'image' => '20230905081742_wheatttttt.jpg', 'article_date' => '2023-09-05 08:15:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18916', 'article_category_id' => '1', 'title' => 'Mushroom Production Surges by 766% in Ten Years', 'sub_title' => '', 'summary' => 'Of late, attraction towards the mushroom farming is increasing in Nepal. Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom farming.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 5: Of late, attraction towards the mushroom farming is increasing in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom farming.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the increasing attraction among farmers in Nepal, modern techniques for mushroom farming have also been introduced. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the introduction of modern technologies, the production of mushroom has also increased, say farmers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Plantation of the mushroom started off some 47 years ago in Nepal. The framing of white mushroom began in 1977.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oyster mushroom farming, on the other hand, started in 1984. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Research and studies on mushroom in Nepal began in 1974. Then, scientists from the Nepal Agricultural Research Council (NARC) had initiated research and studies on mushroom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Initially, mushroom was cultivated in Kathmandu and Bhaktapur alone, but now it has expanded across the country. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last 10 years, mushroom production in Nepal has seen a significant increase. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Ministry of Agriculture and Livestock, mushroom production has increased by 766% in the past 10 years.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the fiscal year 2012/13, there were 1,650 metric tons of fresh mushroom produced, and this number reached 14,300 metric tons in 2021/22.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, mushroom seed production has also increased. In 2012/13, 289,624 bottles of mushroom seeds were produced, whereas in 2021/22, the production reached 1,347,832 bottles.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Santosh Karki, the President of the Mushroom Producers' Association of Nepal, attributes the introduction of new technologies to growth in mushroom production. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Currently, our production meets 80% of the mushroom demand. The rest is imported from countries like India,” Karki said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Karki, there are currently 30,000 to 35,000 farmers involved in mushroom farming in Nepal. Various mushroom species, such as Kanye, Gobre, and Rajalagayat, are being produced in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Karki suggests that the government should provide subsidies based on production to encourage mushroom farming in the country.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“Since Nepal has potential to produce many species of edible mushroom, the government should start research on mushroom farming”, Karki added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">If the government encourages mushroom farming, Nepal can become self-reliant in mushroom and even can export it, Karki opined. </span></span></p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18645', 'image' => '20230905062003_collage (2).jpg', 'article_date' => '2023-09-05 06:17:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $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] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18930', 'article_category_id' => '1', 'title' => ' Ministry of Urban Development to Oversee Waste Management ', 'sub_title' => '', 'summary' => 'September 6: The government is preparing to hand over the responsibility of waste management to the Ministry of Urban Development.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: The government is preparing to hand over the responsibility of waste management to the Ministry of Urban Development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The issue of waste management has become a major challenge, especially in the main cities across the country, including the Kathmandu Valley. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During a meeting held at the Office of the Prime Minister and Council of Ministers (OPMCM) on Tuesday, Prime Minister Pushpa Kamal Dahal said that the responsibility and coordination of waste management will be handed over to the Ministry of Urban Development.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The federal government is taking serious measures for waste management across the country, including the Kathmandu Valley. We will take a decision to hand over the waste management responsibility across the country to the Ministry of Urban Development in the next cabinet meeting," said Prime Minister Dahal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prime Minister Dahal emphasized that waste management is a joint responsibility of the federal, provincial and local governments. He also instructed the concerned authorities to do the homework for the long-term management of waste, stating that a legal system and a long-term mechanism will be created for the waste management. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During Tuesday’s meeting, the participants expressed their views on various aspects of the long-term solution to waste management. The issue of waste management at Bancharedanda, demands raised by the local affected by dumping, purchase of land for dumping site and other issues were also discussed during the meeting. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Stakeholders pointed out the need to form a high-level mechanism for this. In addition, the participants said that legal arrangements are necessary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Minister for Urban Development Sita Gurung, Chief Secretary of the Government of Nepal Dr Baikuntha Aryal, Prime Minister's Office Secretaries Eknarayan Aryal and Maniram Gelal, Urban Development Ministry’s Secretary Rabindraman Shrestha, Investment Board Nepal’s Executive Director Sushil Bhatta, Kathmandu Metropolitan City’s Chief Administrative Officer Basanta Adhikari, Lalitpur Metropolitan City’s Chief Administrative Officer Birendradev Bharti and others were present during the meeting</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18659', 'image' => '20230906015331_20220704024006_Clipboard55.jpg', 'article_date' => '2023-09-06 13:52:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18929', 'article_category_id' => '1', 'title' => 'No Need to Update KYC from One Bank to Another in the Near Future', 'sub_title' => '', 'summary' => 'September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year? ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: Do you have multiple bank accounts and are required to fill a customer identification from (KYC) every year? Or because of the lack of KYC update, the account is inactive and you have to suffer? Account holders of banks and financial institutions are current facing such problems.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the Nepal Rastra Bank is preparing to develop a central customer identification system, there is no need to update KYC for each and every bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The proposed central customer identification system can be used by all financial institutions and the customer details will be updated from the system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the monetary policy of the current fiscal year, the central bank announced the establishment of a central customer identification system in order to facilitate the exchange of customer information between banks, financial institutions and other organizations licensed to perform payment-related activities, and to link national identity cards issued by the government to the central customer identification system. As per the announcement, preparations for setting up the central customer identification system have been initiated, said Dilliram Pokharel, joint spokesperson of NRB. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that the regulation department of the central bank is currently studying the prospects of the central customer identification system and will coordinate with other agencies later for its implementation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Pokharel said that the customers will get a unique identification number after joining the system. Banks can update the customer's information from that number.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After this system is implemented, the customer only needs to update the information in one place. All the financial institutions will update the KYC from the system, so there will be less hassle for the customers. The central customer identification system (C-KYC) has been used in the securities market since last July. After updating the details in the C-KYC system operated by CDS and Clearing Limited (CDSC), the customer does not need to update the KYC separately at the securities dealers and merchant banks. There is a provision to update KYC by the affiliated company from the number received from CDSC.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of the law related to the prevention of money laundering, financial institutions must keep their customers’ details up to date. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18658', 'image' => '20230906015018_kyc.jpg', 'article_date' => '2023-09-06 13:49:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18928', 'article_category_id' => '1', 'title' => 'Karnali Province Hikes Industry Registration Fees, Offers Discount Facility to Specific Groups ', 'sub_title' => '', 'summary' => 'September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in enterprises. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: The Karnali Province government has adopted a policy of industrial tax discount for women, Dalits, people with disabilities and backward communities so as to promote their participations in enterprises. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest Industry Regulations issued by the provincial government, eligible groups will be entitled to receive discounts of up to 50 percent when registering or renewing their industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the province government has hiked the industry registration and renewal charges based on the size of investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Industries are categorized into five groups based on their capital investment, and the registration fees vary accordingly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The industry are categorized as those having the capital up to Rs 500,000, industry with the capital up to Rs 1 million, industries with up to Rs 2 million capital, up to Rs 5 million capital and industries having capital above Rs 5 million. The registration charge for these industries is in the range between Rs 1,000 to Rs 30,000. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18657', 'image' => '20230906012747_Industries.jpg', 'article_date' => '2023-09-06 13:26:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18927', 'article_category_id' => '1', 'title' => 'Bhutan Airlines to Resume Flights to Kathmandu Starting from September 16', 'sub_title' => '', 'summary' => 'September 6: Bhutan's first private airliner, Bhutan Airlines, is all set to resume its flights to Kathmandu.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 6: Bhutan's first private airliner, Bhutan Airlines,</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">is all set to resume its flights to Kathmandu. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Society International Travel Services, the airline company’s general sales agent for Nepal, confirmed that Bhutan Airlines will resume flights to Kathmandu from September 16.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the sales agent, Bhutan Airlines will operate Paro-Kathmandu-Delhi return flights four times a week on every Sunday, Monday, Wednesday and Saturday starting from September 16.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The airline company had stopped flights to Kathmandu due to the Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">pandemic. It had started flying to Kathmandu from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2013.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18656', 'image' => '20230906122459_Bhutan-Airlines-Business-Class-1.jpeg', 'article_date' => '2023-09-06 12:24:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18926', 'article_category_id' => '1', 'title' => 'CNI President Discusses Investment and Business Promotion with Chinese Ambassador', 'sub_title' => '', 'summary' => 'September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">September 6: President of the Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal held a meeting with Chinese Ambassador to Nepal Chen Song on Tuesday to discuss the issue of promoting bilateral investment and business relations between Nepal and China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, CNI President Agrawal said that Nepal-China cooperation was vital in the areas of infrastructure development. He added that China is Nepal's one of the key development partner. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Agrawal urged the Chinese Ambassador to accord top priority for investment and cooperation in the areas of technology transfer, skill development and tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The CNI president also urged the Chinese Ambassador to cooperate with the Nepali business community to export Nepali goods in the Chinese market through e-commerce. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Chinese Ambassador Song was requested to do something visible in Nepal with the cooperation of CNI and China Council for Promotion of International Trade (CCPIT). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Song suggested that Nepal could develop through the use of national resources including the hydropower generation adding that a long term development strategy was needed. He was of the view that Nepal's imports could be substituted through the increase in usage of clean energy. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18655', 'image' => '20230906112655_20230510013135_cni new.jpg', 'article_date' => '2023-09-06 11:24:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '18925', 'article_category_id' => '1', 'title' => 'Shree Krishna Janmashtami being Celebrated across the Country Today ', 'sub_title' => '', 'summary' => 'September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 6: Shree Krishna Janmashtami, the birthday of Lord Krishna, is being celebrated by the Hindu devotees with devotion and fanfare across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the scriptures, Lord Krishna was born in the midnight of Bhadrakrishna Ashtami or the eighth day of the waning moon in the month of Bhadra as per the Vedic lunar calendar during the Dwapar era more than 5,000 years ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is considered as the eighth incarnation of Lord Vishnu, the protector of the world. He took the form of a human to protect righteousness and to uproot the evil from the world. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Legend has it that Lord Krishna killed the evil king Kansa, who was his maternal uncle, to protect the innocent people and his parents from his cruelty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is better remembered for his philosophical discourse in Bhagvad Gita, where he guides the warrior Arjun towards the right path. The instructions given to Arjun before the great war of Mahabharat are considered relevant even to this day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lord Krishna is also known as "Gopal" for his dedicated service to the cows as a herder. He is also known as "Manmohan" for the melodies he used to play on his flute, charming everyone. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees throng the temples of Lord Krishna including the famous Shree Krishna Temple of Mangal Bazaar in Lalitpur on this day. The renowned and artistic Shree Krishna Temple made up of stones was built by the then King of Patan, Siddhi Narsingh Malla. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Various religious organizations and institutions celebrate the birth anniversary of Lord Krishna by organizing colorful processions with the idols of Lord Krishna flanked by decorative portraits. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Devotees, especially women, spend the night chanting prayers and devotional songs, dancing and lighting oil-fed lamps. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides prayers and fasting, the preaching of Lord Krishna are discussed and the message spread among the people on this day. (With inputs from RSS)</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-06', 'modified' => '2023-09-06', 'keywords' => '', 'description' => '', 'sortorder' => '18654', 'image' => '20230906105906_MadhavprasadGhimire_Patan_RSS_20_20230906_063927.jpg', 'article_date' => '2023-09-06 10:58:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18924', 'article_category_id' => '1', 'title' => 'India Endorses MoU to Purchase 10,000 MW Power from Nepal in Ten Years', 'sub_title' => '', 'summary' => 'India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from Nepal.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 5: India has officially given its approval to a memorandum of understanding (MoU) concerning the purchase of electricity from Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Under this agreement, India has agreed to import 10,000 megawatts (MW) of electricity from Nepal in the next ten years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Nepal's ambassador to India, Dr Shankar Prasad Sharma, the federal Council of Ministers of India formally endorsed the agreement paper on the power trade with</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal and India shared information about this trough social media X (twitter). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">He said the decision would contribute to accelerating Nepal's economic development and restructuring efforts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The MoU was initially signed between the two countries during Prime Minister Pushpa Kamal Dahal Prachanda's latest visit to India (May 31-June 3, 2023) and at the time the Prime Minister had termed the agreement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Energy secretaries from both countries signed and exchanged the document. Following India's latest decision to endorse the agreement, the energy secretaries from both neighboring nations will participate in a special ceremony to formally re-sign it.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Joint Secretary at the Ministry of Energy, Hydro Resources and Irrigation and Spokesperson for the Ministry, Madhu Prasad Bhetuwal said they were unofficially informed about the official decision of the Indian government to endorse the agreement and expect to receive an official confirmation regarding the decision.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the decision, door to export the electricity to Indian market in easy and smooth manner has been opened.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Nepal had been urging for power export in Indian market in short-term, mid-term and long-term. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Nepal Electricity Authority (NEA) has been exporting 452 megawatt electricity in Indian Energy market on a daily basis. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal and India had signed power trade agreement in 2014. The Indian Company, Satluj Jal Vidyut Nigam, is constructing 900-megawatt Arun III hydropower project. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Although the Indian company, GandhI Mallikarjun Rao, has been saying to construct 900-megawatt Upper Karnali hydropower project, it has not been started yet. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, Indian company has forwarded necessary process for the construction of different projects including Lower Arun, West Seti and SR-6.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">An agreement has been reached between Nepal and India to construct some projects with joint investment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal has been making preparation to export 40 megawatt electricity in Bangladesh soon. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The private sector has been demanding the government to grant permission of power trade. The proposed new electricity bill has made this arrangement. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Cabinet meeting held on August 29 had given permission to Energy Ministry to table the electricity bill in the Federal Parliament. (RSS)</span></span></p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18653', 'image' => '20230905055753_collage (16).jpg', 'article_date' => '2023-09-05 17:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18923', 'article_category_id' => '1', 'title' => 'NEPSE’s Downfall Continues to Panic Investors ', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week, Tuesday. ', 'content' => '<p>September 5: The Nepal Stock Exchange(NEPSE) Index lost 6.45 points or 0.32% and closed at 1961.37 points on the third trading day of the week, Tuesday. </p> <p>Ever since the Nepal Rastra Bank issued the monetary policy for the fiscal year 2023/2024, the benchmark index has been on the downward trend. </p> <p>Stock market experts and seasoned investors attribute the continued downfall of the NEPSE to the NRB’s harsh polices towards the capital market. </p> <p>The investors’ psychology is negative and the market will not pick up the momentum unless the regulators including NRB and the Finance Ministry relax policies related to the stock market, said a veteran investor. </p> <p>During today's trading, a total of 277 scrips exchanged their hands through 25,227 transactions.<br /> A total of 2,480,929 shares were traded, amounting to Rs 79 crores. </p> <p>Himalayan Everest Insurance Limited Promoter (HEIP) recorded the highest turnover of Rs. 7.58 crores and closed at a market price of Rs. 412.10.</p> <p>Similarly, NMB Microfinance Bittiya Sanstha Ltd. (NMBMF) gained the highest 10%, hitting the upper circuit for the day.<br /> Meanwhile, RBB Mutual Fund 2 (RMF2) lost all 10% today.</p> <p>Only two sector indices closed in green zone. "Trading Index" gained the highest 0.46% while "Hotels And Tourism Index" lost the highest 0.79% today.</p> <p>Sensitive Index lost 0.12%, while Float Index and Sensitive Float Index shed 0.37% and 0.22% respectively. </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18652', 'image' => '20230905042422_collage (14).jpg', 'article_date' => '2023-09-05 16:21:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18922', 'article_category_id' => '1', 'title' => 'New Stock Brokers Paying High Fees for TMS due to Developer’s Monopoly', 'sub_title' => '', 'summary' => 'September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary market.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: Both new and old securities broker companies complain that there is only one company in the 'Trade Management System (TMS)' for buying and selling securities in the secondary market. By using TMS, brokers and investors can buy and sell securities through the Internet. Through TMS, brokers handle investor account opening, transaction risk management, portfolio management, etc. Investors can do their own work such as ordering shares, transferring funds, etc through TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The TMS of Nepal Stock Exchange (NEPSE) is being run by 50 old stock brokers, citizen stock dealers and new brokers who have been allowed to trade. As the new broker has no choice, they are running the same TMS. TMS of NEPSE was built as well as is maintained by YCO.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">SEBON has already given stock broker license to 37 out of 46 companies that applied for new broker license. Some of these brokers have already started trading with permission from NEPSE via TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the market experts, YCO has a monopoly on TMS in Nepal. Therefore, even the old brokers cannot use another TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">With the implementation of the Securities Trading Regulations, 2079 (Third Amendment) by the Board, the way for brokers to operate a separate TMS has been opened. It is said that the old broker has already started the process to bring a separate TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The old 33 brokers are going to use the TMS of Sri Lanka's IronOne Company, Sunny Securities of India's Tata Consultancy Services Limited and NASA Securities of India's Dion Global. The remaining 14 brokers will use NEPSE's TMS which is currently in operation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chairman of Stock Brokers Association of Nepal (SBAN) Dharmaraj Sapkota says that they have been preparing to introduce a new TMS for years. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Since we had completed all the preparations one year ago, we announced that we would bring a new TMS from mid-July 2022. For this very purpose, we had set up a separate company.” However, the regulatory body stopped the process of Captech, a company opened by brokers with the aim of introducing a new TMS, by placing several provisions in the Application Program Interface (API) policy. Captech was the appropriate medium for the new TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">After the attempt to bring new a TMS by Captech was stifled, the old stock brokers have started the process of bringing TMS made by Sri Lanka's IronOne Company through the local representative Digihub.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A member of SBAN alleged that NEPSE and YCO together made various excuses and prolonged the process of bringing in a new TMS.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sapkota says, “The new TMS could have been operational by now, which is hindered in the name of data migration and sometimes in the name of policy and audit. Groups with vested interest are prolonging the process.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A senior official of NEPSE said that the work of the new TMS was delayed for a few months due to the testing of “data migration” and “audit”, but now the process is progressing rapidly. The server connection is done. Now, after testing, the new TMS will be operational in a few weeks, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Sagar Dhakal, president of New Stock Brokers Association Nepal says, “The intention of most of the new brokers is to use YCO's TMS. There was also talk about the new TMS in our association. However, it is not possible for a new broker to bring a new TMS by investing heavily. Because there is no other option, we are running the TMS of YCO.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">They complain that YCO charges high fees from new brokers because TMS is monopolized by one company. It has been found that YCO charged Rs 500,000 to the new brokers in the name of 'onboarding cost'. Such fee has not been paid by the old stock brokers. Similarly, YCO has charged more than Rs 40,000 per broker from the new brokers list for the 'back office'. It has been found that the old stock brokers Rs 80,000 annually, but new stock brokers are charged Rs 120,000.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Dipesh Pradhan, Chief Executive Officer (CEO) of YCO Pvt. Ltd. says that YCO is collaborating with NEPSE as well as the company bringing the new TMS. Pradhan claimed that YCO did not charge more to the new broker companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“Earlier, NEPSE worked as a project, so there was no onboarding cost for the broker companies at that time. Now we have only charged the setup and installation fee,” said Pradhan, adding, “We have to charge for hardware, software, manpower etc. Just because we did not charge the old brokers does not mean that the fee will not be charged now.”</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18651', 'image' => '20230905030017_1693879026.asdasdasd.jpg', 'article_date' => '2023-09-05 14:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18921', 'article_category_id' => '1', 'title' => 'Use of Digital Technology Increasing in Financial System of Nepal', 'sub_title' => '', 'summary' => 'September 5: The use of digital technology has increased in the country's financial system over the last decade.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: The use of digital technology has increased in the country's financial system over the last decade. Financial institutions have automated many services that used to require physical presence and waiting in line. The facilities such as online bill payments, top-ups, online shopping, ticket booking, and digital transactions are now easily accessible with just a click.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">In the past, sending remittances was a challenging task, but with the advent of technology in Nepal, the process has become more transparent and efficient. Mobile phones have played a significant role in reshaping the remittance industry, with the introduction of fintech tools like mobile wallets.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">An electronic wallet is an account issued by a payment service provider approved by Nepal Rastra Bank, allowing users to pay for goods and services by depositing money from designated banks and financial institutions. Currently, Nepal has 27 such payment service providers (PSPs), including 10 domestic and other foreign companies operating with permission as Payment System Operators (PSOs).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">PSPs act as intermediaries between receiving payments, making electronic payments, transferring funds, and affiliating with payment system operators. PSOs operate payment switches, automatic clearing, and network of electronic payment cards. Fintech companies bridge the gap between traditional banking services and digital platforms, with PSOs focusing on software development and PSPs providing payment services.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">These companies primarily earn income through transaction commissions and advertisements on their platforms. Many fintech companies in Nepal are in their early stages and prioritize service expansion over profit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to Rasmina Ranjit, executive director of Easy Payments, some major companies form syndicates, while others remain less active. She believes that there are many PSPs in Nepal, and the recent mergers of banks and financial institutions have also affected the fintech sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Amit Aggarwal, co-founder and director of Khalti, acknowledges the challenges faced by the fintech sector, including high operating costs and a shortage of IT manpower. He believes that mergers are not feasible in this sector due to different technologies and substantial investments.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Jagdish Khadka, CEO of E-Sewa Wallet, agrees with Agarwal, stating that it's premature to consider mergers at this stage. He emphasizes the need for more companies to work in the sector to increase financial literacy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While digitization has made significant progress in Nepal's financial system, challenges and opportunities coexist in the rapidly evolving fintech sector.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18650', 'image' => '20230905023508_20221023094102_digital payment.jpg', 'article_date' => '2023-09-05 14:34:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18920', 'article_category_id' => '1', 'title' => 'MPs Express Fury over Delay in Handing Prize Money to Cricketers', 'sub_title' => '', 'summary' => 'September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">September 5: The government has time and again pledged to award cricketers with prize money but is yet to keep its promises. At a time when Nepal's national cricket team was contesting against India in the Asia Cup on Monday, the issue of the players not getting the previously announced awards heated up in the House of Representatives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The MPs, during the lower house meeting on Monday, demanded that the award announced to be given to cricket players should be released immediately. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Rastriya Prajatantra Party MP Gyanendra Shahi requested Prime Minister Pushpa Kamal Dahal to release the amount that the government had promised to reward the cricketers with.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The government announced that the players of the Nepali national cricket team would be awarded with Rs 300,000 each during the ICC world Cricket League 2 series. In addition to that, the government had also announced Rs 300,000 for playing against the UAE and PNG in the UAE, Rs 300,000 for winning the series against the UAE and PNG, Rs 200,000 announced by the Prime Minister and Rs 600,000 for winning the ACC Premier Cup. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">“While Indian captain Rohit Sharma earns Rs 270 million in 1 year, Nepali captain Rohit Poudel's salary is not more than Rs 720,000. Why is the money given to cricket players stopped? Release this money as soon as possible. If not, don't show hollow nationalism," MP Shahi said. He also expressed anger saying who defaulted the declared money. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During the lower house meeting, Hari Dhakal, MP of Rastriya Swatantra Party, demanded the government to give the prize money to the cricket players within one week. Speaking at the meeting of the House of Representatives, he questioned the government as to why the money that was supposed to be given to the players was put on hold.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He vented his ire saying, "While we failed to build a stadium in all these decade, look at the palace built that the government for the chief ministers for their visit to Kathmandu.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He commented that if you look at the monthly salary of Nepali cricket players, you will be ashamed.</span></span></span></p> <p> </p> <p> </p> <p><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18649', 'image' => '20230905020719_RS-KTM-RSS-_RATL9278.jpg', 'article_date' => '2023-09-05 14:06:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18919', 'article_category_id' => '1', 'title' => 'Minister Instructs Nine Agencies to Coordinate for Road Construction', 'sub_title' => '', 'summary' => 'September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu Valley.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 5: Physical Infrastructure and Transport Minister Prakash Jwala has acknowledged that citizens are suffering due to lack of coordination between nine related agencies in road construction in Kathmandu Valley. Minister Jwala has directed the agencies concerned to improve the roads in the valley immediately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He called the heads of departments and offices of these agencies to the ministry on Sunday and instructed them to start improving the condition of roads in the valley. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The head of Lalitpur metropolis, executive director of Nepal Electricity Authority as well as representatives from the Bagmati Civilization Integrated Development Committee, the Kathmandu Valley Water Supply Limited, Nepal Telecom and other agencies participated in the meeting.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the discussion, the Executive Director of Nepal Electricity Authority, Kulman Ghising, expressed his commitment to improve the road conditions immediately where the works have been completed. He said that the authority is laying underground wires on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kilometers of roads in Kathmandu valley, but he said that although the work has started on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> road sections, it has been completed only in some places.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Even where the NEA has completed its works, the condition of roads has not improved. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Kathmandu Valley Water Supply Limited is currently working on </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">km stretch of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">roads. Even the water supply utility has not improved the road after laying pipes.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18648', 'image' => '20230905084505_1693878525.1691457689.1654072622[1].jpg', 'article_date' => '2023-09-05 08:44:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18918', 'article_category_id' => '1', 'title' => 'Short-Term Interest Rates Fall Moderately, Hinting at Ease in Liquidity Situation', 'sub_title' => '', 'summary' => 'September 5: There has been a general decline in the short-term interest rates of banks and financial institutions.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">September 5: There has been a general decline in the short-term interest rates of banks and financial institutions. Treasury bills and interbank rates have decreased as credit flow has not increased compared to deposit growth. The interest rate on the renewal of old treasury bills worth Rs 20.4 billion decreased on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Rastra Bank has called for auction bids to renew the treasury bills worth 20.4 billion with a maturity period of 28 days, T-bills worth Rs 5 billion for 91 days, T-bills worth Rs 6.4 billion for 91 days, T-bills worth Rs 7 billion for 182 days and T-bills worth Rs 2 billion for 364 days. Among them, the discount rate of all treasury bills has decreased compared to last week.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The average interest rate has been maintained at 6.1231 percent for T-bills with maturity period of 28 days, 6.1635 percent for 91 days T-bills, 6.4094 percent for 182 days T-bills and 6.4331 percent for 364 days T-bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, the interest rate of 28-day treasury bills issued on August 29 was 6.2084 percent. Similarly, the interest rate of 6.4393 percent was maintained for the 364-day treasury bills issued on August 22. The average interest rate of treasury bills with a maturity period of 128 days issued on August 15 was also maintained at 6.4876 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the inter-bank interest rate charged for transactions between banks has also decreased. According to Nepal Rastra Bank, the interbank interest rate on Sunday stood at 6.31 percent. On the previous day, the interbank interest rate was 6.35 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Treasury bills and interbank interest rates are considered as short-term market interest rates. Increase in interest rates of T-bills and interbank interest rates indicate the liquidity problem in the banking system while the reduction in such interest rates hint at ease in liquidity situation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the first day of this week, deposits worth Rs 4 billion were added to the banking system. Deposits of commercial banks increased by Rs 4 billion to a total of Rs 4961 billion, while deposits of development banks and finance companies remained stable at Rs 673 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, on Sunday, banks' loan disbursements also increased by Rs 2 billion and reached Rs 4882 billion. The loan-to-deposit ratio of banks has decreased to 83.62 percent.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18647', 'image' => '20230905083833_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-09-05 08:37:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18917', 'article_category_id' => '1', 'title' => 'Putin says Russia 'Open' to Grain Deal Talks as Ukraine Port Hit', 'sub_title' => 'Kyiv Accuses Russia of Undermining Global Food Security', 'summary' => 'September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports overnight.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">September 5: Russian President Vladimir Putin said Monday that Russia was "open" to talks on restoring the landmark Black Sea grain export deal, hours after Moscow pounded one of Ukraine's key grain-exporting ports overnight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The UN and Turkey-brokered deal, which aimed to ensure safe navigation for civilian ships through the Black Sea, collapsed after Russia pulled out in July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moscow has since repeatedly attacked Ukraine's port infrastructure in what Kyiv says is a cynical attempt to damage its exports and undermine global food security.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Russian drone attack on Monday damaged a grain export hub on the Danube river, officials said, adding that warehouses and agricultural equipment were damaged.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The regional governor Oleg Kiper announced that air defence systems had downed 17 drones.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hours later Putin met his Turkish counterpart Recep Tayyip Erdogan in Sochi, amid hopes the two could restore the deal, with Erdogan promising he would make a "very important" announcement on grain exports after the talks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"I know you intend to raise the issue of the grain deal. We are open to negotiations on this issue," Putin said in televised comments alongside Erdogan. – AFP/RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18646', 'image' => '20230905081742_wheatttttt.jpg', 'article_date' => '2023-09-05 08:15:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18916', 'article_category_id' => '1', 'title' => 'Mushroom Production Surges by 766% in Ten Years', 'sub_title' => '', 'summary' => 'Of late, attraction towards the mushroom farming is increasing in Nepal. Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom farming.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">September 5: Of late, attraction towards the mushroom farming is increasing in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Since mushroom cultivation can be done with low investment and it can generate good profits in a short period, farmers have been attracted to the mushroom farming.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the increasing attraction among farmers in Nepal, modern techniques for mushroom farming have also been introduced. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the introduction of modern technologies, the production of mushroom has also increased, say farmers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Plantation of the mushroom started off some 47 years ago in Nepal. The framing of white mushroom began in 1977.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oyster mushroom farming, on the other hand, started in 1984. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Research and studies on mushroom in Nepal began in 1974. Then, scientists from the Nepal Agricultural Research Council (NARC) had initiated research and studies on mushroom. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Initially, mushroom was cultivated in Kathmandu and Bhaktapur alone, but now it has expanded across the country. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last 10 years, mushroom production in Nepal has seen a significant increase. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Ministry of Agriculture and Livestock, mushroom production has increased by 766% in the past 10 years.</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the fiscal year 2012/13, there were 1,650 metric tons of fresh mushroom produced, and this number reached 14,300 metric tons in 2021/22.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, mushroom seed production has also increased. In 2012/13, 289,624 bottles of mushroom seeds were produced, whereas in 2021/22, the production reached 1,347,832 bottles.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Santosh Karki, the President of the Mushroom Producers' Association of Nepal, attributes the introduction of new technologies to growth in mushroom production. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Currently, our production meets 80% of the mushroom demand. The rest is imported from countries like India,” Karki said. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Karki, there are currently 30,000 to 35,000 farmers involved in mushroom farming in Nepal. Various mushroom species, such as Kanye, Gobre, and Rajalagayat, are being produced in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Karki suggests that the government should provide subsidies based on production to encourage mushroom farming in the country.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">“Since Nepal has potential to produce many species of edible mushroom, the government should start research on mushroom farming”, Karki added. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">If the government encourages mushroom farming, Nepal can become self-reliant in mushroom and even can export it, Karki opined. </span></span></p> ', 'published' => true, 'created' => '2023-09-05', 'modified' => '2023-09-05', 'keywords' => '', 'description' => '', 'sortorder' => '18645', 'image' => '20230905062003_collage (2).jpg', 'article_date' => '2023-09-05 06:17:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $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
