Finance

Cases of ‘Cheque Bounce’ Fraud are on the rise.

Cheque bounce fraud has been on the rise in Nepal recently. As a result, total banking misconduct has increased. In the last five fiscal years, a total of 9,721 banking infractions have been reported. In the meantime, police have...

Nirdhan Utthan Laghubitta Reports 223 Percent Surge In Profit [Q4 Report]

In the fiscal year 2077/78, Nirdhan Utthan Laghubitta Bittiya Sanstha Limited (NUBL), one of Nepal's largest microfinance institutions, recorded a net profit increase of more than 223 percent. The microfinance earned Rs 91.91 crores in fiscal year 2076/77, up...

7 new branches of Global IME Bank have opened

Since Wednesday, Global IME Bank Limited has launched seven new branches. In Kathmandu District, Sitapaila, Balaju Chowk, and Asan of Kathmandu Metropolitan City, Dhobighat and Bhaisepati of Lalitpur Metropolitan City, Gatthaghar of Bhaktapur District Thimi Municipality, and Bichbazar of Dhading...

Banks’ CSR activities are centralised in Bagmati Province, according to an NRB study.

to a study undertaken by Nepal Rastra Bank (NRB), bank CSR operations are centralised in Bagmati Province and not evenly disseminated around the country. In Bagmati Province, commercial banks have been found to spend more over two-thirds of their...

Minister of Finance for decreasing the interest rate on low-income people’s loans

Janardan Sharma, the Finance Minister, has encouraged banks and financial institutions (BFIs) to lower the interest rates on loans to the poor. Finance Minister Sharma said that exorbitant interest rates charged on loans provided by cooperative banks, primary cooperatives, and...

The Supreme Court issued an interim ruling directing the government not to compel bankers to join the social security system

The Supreme Court has given an interim order in favour of bankers against the Security Fund. The full bench issued an interim order in favour of the employees after four days of continuous proceedings. Employees urged that participation...

Cooperative banks would be able to clear checks, according to the Finance Minister

Finance Minister Janardan Sharma has committed to include a measure that ensures cooperative banks have access to check clearing services. The Finance Minister said that discussions were ongoing to provide social security allowance through cooperative banks or microfinance companies based...

Monetary Policy will be out by the end of this week, NRB not to wait budget revision

By the of this week, the Nepal Rastra Bank (NRB) plans to release the Monetary Policy for the current fiscal year. The monetary policy has been delayed, particularly since the formation of Prime Minister Sher Bahadur Deuba's new...

Jyoti Bikash Bank has launched a new account called “Jyoti Smart Savings”

Jyoti Bikash Bank has established the Jyoti Smart Savings Scheme, which is aimed at first-time stock market investors. Customers can open a Jyoti Smart Savings with the goal of making it fast and straightforward to invest using a...

Insurance companies have temporarily halted the payout of Covid-19 claims.

The payment of Covid-19 insurance claims has been blocked by non-life insurance firms, blaming the government's delay in releasing the budget. Since July 29, 20 non-life insurance companies have formally stopped coronavirus insurance, as mandated by the Nepal Insurers...
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