Power Supply

             
  • NEA: 8692 MWh
  • Private Sector: 8704 MWh
  • India: 5777 MWh
  • Tripping: 575 MWh
  • Demand : 23748 MWh
  • Soure : NEA

Bank

World Bank board approves $100 million to help deepen financial sector reforms

The World Bank Group's Board of Executive Directors has approved a fourth Financial Sector Stability Development Policy Credit (DPC4) of $100 million to Nepal to help it continue to deepen its medium-term reform program in the financial sector. Nepal’s quest to secure a stable path to federalism and an inclusive…


Credit demand from SMEs likely to go down

Nepal Rastra Bank’s (NRB) recent instruction to banks and financial institutions (BFIs) to ask for tax clearance certificate from businesses while renewing old and extending new loans is likely to affect credit demand. According to bankers, the credit appetite of majority of their borrowers, especially small and medium sized enterprises…


Monetary policy expected to help meet growth target

Nepal Rastra Bank (NRB) has revised the cash reserve ratio (CRR) for commercial banks from 6 percent to 4 percent and slashed the interest rate spread from 5 percent to 4.5 percent. Unveiling the Monetary Policy for 2018-19, the central bank announced the new provisions to address a shortage of…


India becomes AIIB’s largest borrower

India is the biggest borrower from the Asian Infrastructure Investment Bank (AIIB), getting its projects financed to the extent of 4.4. billion US dollars in the past three years, Subhash Chandra Garg, the country's secretary at the Department of Economic Affairs, said in an official statement. AIIB's third annual meeting…


One million bank workers strike across India

Around one million bank employees went on strike across India Wednesday, a union representative said, demanding better pay and a government crackdown on companies who wilfully default on loan payments. Some 5,000 workers chanted slogans and waved banners at a protest in the financial capital Mumbai, union boss Devidas Tuljapurkar…


Emerging Nepal gets LoI to set up infra bank

Nepal Rastra Bank (NRB) on Sunday issued a Letter of Intent (LoI) to Emerging Nepal to establish Infrastructure Development Bank (IDB) which will focus on financing mega infrastructure projects. The IDB will be Nepal’s first infrastructure bank. It has nearly 40 promoters. NRB gave the go-ahead in principle after the…


Banks still facing tight lending condition

The latest deposit mobilization and loan disbursement figures of commercial banks indicate that banks are still in tight lending condition. Commercial banks added Rs 72 million in deposits and disbursed loans worth Rs 68 billion in the review period which means banks are not yet in a comfortable lending position.…


NRB lets banks borrow from foreign financial institutions

Banks that have been facing crisis of loanable funds have something to cheer about, as Nepal Rastra Bank has allowed them to borrow funds from foreign banks and financial institutions to meet the demand of credit in the country’s economy. NRB has provided borrowing facility to commercial banks based on…


Banks told to open branch in every local body by mid-July

The Nepal Rastra Bank (NRB), the central bank, has directed commercial banks to extend their reach to every local body in the country to raise people’s access to banking services and facilitate transfer of grants to the lowest tier of government. Although the NRB has been pushing Class ‘A’ financial…


IMF warns steel, aluminum tariffs by US to hurt economies

The International Monetary Fund (IMF) said on Friday that the import restrictions announced by the US President Donald Trump would not only hurt the US, but also other economies. "The import restrictions announced by the US President are likely to cause damage not only outside the US, but also to…


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