Nepal’s rapidly expanding digital payment ecosystem has come under increased scrutiny after the Nepal Rastra Bank (NRB) identified serious weaknesses […]
Mobile wallet users across Nepal will now be required to update their National Identity Card (NID) number as the Nepal Rastra Bank (NRB) has introduced a new regulatory provision aimed at strengthening customer identification and enhancing the security of the country's digital payment ecosystem. Through an amendment to its Unified…
Kathmandu: Nepal's Supreme Court has refused to grant legal recognition to the transfer of an 80 percent stake in Ncell, ruling that the transaction was carried out in violation of Nepalese law because it was completed without prior approval from the Nepal Telecommunications Authority (NTA). The Court has directed the…
The Government of Nepal has stepped up efforts to reform the country's foreign employment sector, aiming to end the financial exploitation of migrant workers who are often forced to take high-interest loans, sell property, or mortgage family assets in order to secure jobs abroad. Minister for Youth and Sports and…
Machhapuchchhre Bank Limited has reported a net profit of NPR 1.01 billion for the second quarter of the current fiscal year. This marks a significant 25.25% increase compared to the NPR 807.3 million earned during the same period in the previous fiscal year. This growth is underpinned by a rise…
In a significant move to regulate the country's financial landscape, Nepal Rastra Bank (NRB), the central bank of Nepal, has announced the issuance of a one-year bond worth Rs 25 billion. The security, officially titled "Nepal Rastra Bank Bond 2083 'Chha'," is designed as a strategic tool for open market…
Nepal Rastra Bank (NRB), the country’s central bank, has expressed "serious concern" over the increasing frequency of organized attacks and unprofessional behavior targeting banks and financial institutions (BFIs) and their employees. The statement follows a recent incident in Bardibas where staff members of Jyoti Bikash Bank were reportedly mistreated, sparking…
Kamal Gyanwali, the former Chief Executive Officer (CEO) of Kist Bank, is set to be released from prison after completing approximately seven years of his jail term, following an order from the Supreme Court. The division bench of Justices Hari Phuyal and Abdulaziz Musalman issued the order for Gyanwali's release.…
The Nepal Stock Exchange (NEPSE) index climbed by 34.42 points, marking a 1.29 percent increase and closing at 2,694.82 points. A total of 317 companies saw active trading, with over 30.1 million shares changing hands in 89,468 transactions, amounting to a total turnover of Rs 9.74 billion. All sectoral indices…
The Nepal Economic journalist Society (Sej) has decided not to arranging Rs 10 million administrated by communications and information technology for the coming Fiscal Year 2082. A meeting of the section of the Sej Saying Committee, the Sej Saying Committee, has decided to reject the grant allocated at the annual…
After a number of liquidity in banks and financial institutions, the Nepal Rastra Bank has also covered Rs 30 billion from banking system. Central Bank is drawing the amount for 21 days for a short-term appointment of liquidity management. NRB has been dropping money from the market regularly and on…
The Honorary Consul Corps Nepal (HCCN) celebrated its Charter Day and convened the 17th Annual General Meeting at Hotel Marriott Kathmandu on Tuesday.The highlight of the event was the election of Chandra Prasad Dhakal, Honorary Consul of Indonesia to Nepal, as the new Dean of HCCN. Outgoing Dean Vishnu Agarwal…
Yashoda Ayer The dramatic shift towards virtual employment in Nepal is having far-reaching effects on the country's labor market and economy, mirroring the global trend of remote work. The COVID-19 pandemic accelerated the adoption of remote work practices in Nepal as businesses adapted to the evolving work landscape. Initially driven…