$user = $this->Session->read('Auth.User');
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'title' => 'NRB Bans Bill Discounting on Usance',
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'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '6178',
'article_category_id' => '1',
'title' => 'NRB Bans Bill Discounting on Usance',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
',
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'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
',
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include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
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'article' => array(
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'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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include - APP/View/Articles/view.ctp, line 116
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
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
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'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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include - APP/View/Articles/view.ctp, line 241
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
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Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.
The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.
Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.
Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.
NRB has said it introduced the new measures to reduce the risk of forex misappropriation.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
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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'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
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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]
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<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
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<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
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<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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file not found!
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<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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'Article' => array(
'id' => '6178',
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'title' => 'NRB Bans Bill Discounting on Usance',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
',
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'created' => '2017-07-09',
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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/view.ctp, line 391
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]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '6178',
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'title' => 'NRB Bans Bill Discounting on Usance',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
',
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'title' => 'NRB Bans Bill Discounting on Usance',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans.',
'content' => '<p>July 9: Nepal Rastra Bank (NRB) has barred banks in Nepal to exchange Usance letter of credits (LCs), issued for import of goods, for cash and accept such LCs as collateral for loans. The central bank on July 7 issued a circular to this effect. This has effectively ended the practice of bill discounting on Usance.</p>
<p>The central bank issued the new circular after amending the legal provisions related to foreign exchange. Before this, banks were allowed to give discount on the Usance LC upon the mutual understanding of the exporters and the importers. But the concerned companies had to bear the interest and service charge for the discount on the Usance, which remains valid for a maximum of four months (120 days). In the banking practice, buying/exchanging of legally valid financial tools or using them as collateral to provide loans is called bill discounting.</p>
<p>Until now, Nepali importers could make the payment for goods they receive from overseas after a certain time period from the date of delivery. But the new circular bars the importers from enjoying such facilities.</p>
<p>Usance LC is a credit facility provided by the exporter for a certain period (four months) on the basis of a bank’s guarantee for payment.</p>
<p>NRB has said it introduced the new measures to reduce the risk of forex misappropriation.</p>
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simplexml_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/view.ctp, line 391
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
