Bank

Kathmandu — The Asian Development Bank's (ADB) annual lending to Nepal hit a record high in 2018, but disbursement has been lagging. ADB’s total lending in 2018 reached $592 million and technical assistance at $8.01 million (including $5.31 million in cofinancing) for projects in transport, urban development and water supply, energy,…

Kathmandu- The Asian Development Bank (ADB) has set to target to installed off-grid and on-grid solar system in 130 School after reconstruction the 174 school affected by the devastating earthquake of 2015. While ADB has has approved a loan and grant package totaling more than $160 million to improve schools’ resilience…

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…

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…

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 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…

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…

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…

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.…

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…