$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' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '6291',
'hit' => '1073'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/'
$user = null
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' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '6291',
'hit' => '1073'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/'
$user = null
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'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '6291',
'hit' => '1073'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/'
$user = null
$groupId = null
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
July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.
The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.
NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.
The central bank said it issued the circular effective from July 24.
NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.
“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.
Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.
According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.
“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.
NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058.
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
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '6291',
'hit' => '1073'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
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/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 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '6291',
'hit' => '1073'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_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/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
file not found!
Notice (8): Undefined variable: file [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' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '6291',
'hit' => '1073'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
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' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '6291',
'article_category_id' => '1',
'title' => 'NRB bars Elected Representatives from BFI Board',
'sub_title' => '',
'summary' => 'Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. ',
'content' => '<p>July 25: Nepal Rastra Bank has issued a circular stating that elected representatives cannot operate banks and financial institutions (BFIs) as long as they remain in public office. According to the circular, anyone elected in any of the three tiers of elections, namely local, provincial and federal, cannot remain in the board of BFIs.</p>
<p>The Banks and Financial Institutions Act (BAFIA) passed by the parliament last year has provisions to bar lawmakers from being a member of the board of directors of BFIs. As per the rules, many lawmakers involved with BFIs have already given up their banking roles.</p>
<p>NRB has claimed that it introduced the new regulation fearing that the elected representatives as board members of BFIs could weaken good governance.</p>
<p>The central bank said it issued the circular effective from July 24.</p>
<p>NRB’s spokesperson Narayan Prasad Poudel informed that the central bank took such decision after finding that some of the elected representatives were also members of board of directors of BFIs.</p>
<p>“We found some elected representatives involved in BFIs. Such dual role would weaken good governance so we decided to issue the circular,” said Poudel.</p>
<p>Former governor of NRB Dipendra Bahadur Chhetri backed the move saying that the central bank took the right decision.</p>
<p>According to Chhetri, the elected representatives should not be allowed to hold any major post in BFIs as they are the ones responsible to deliver justice, make political decisions as well as monitor various issues at the local level.</p>
<p>“They have the quasi-judicial powers of the executive, legislative and judicial bodies so they can influence the decisions of BFIs. Therefore they should be excluded from the board of BFIs,” said Chhetri.</p>
<p>NRB informed that the circular was issued as per Clause 79 of the Nepal Rastra Bank Act, 2058. </p>
',
'published' => true,
'created' => '2017-07-25',
'modified' => '2017-07-25',
'keywords' => '',
'description' => '',
'sortorder' => '6074',
'image' => null,
'article_date' => '2017-07-25 00:00:00',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => false,
'user_id' => '16'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '16',
'user_detail_id' => '0',
'group_id' => '1',
'username' => 'anmaharjan@newbusinessage.com',
'name' => '',
'email' => 'anmaharjan@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '0',
'created' => '2016-04-04 17:02:17',
'last_login' => '2018-09-17 11:47:56',
'ip' => '202.63.242.112'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '6291',
'hit' => '1073'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
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
