KATHMANDU: Nepal Rastra Bank has set an age bar for board of directors and chief executive officers of banks and financial institutions (BFIS).

Issuing a circular recently, NRB has barred BFIs from appointing or reappointing CEOs who are above 65 years of age. Similarly, NRB has also set an age limit of 70 years for board of directors at BFIs.

Likewise, it has also directed commercial banks to lower interest rate spread to below 4.4 per cent by mid-July next year as stated in Monetary Policy for fiscal 2019-20.

As per Monetary Policy, NRB has also directed commercial banks to issue debentures/corporate bonds amounting to 25 per cent of their paid-up capital by end of the fiscal.

NRB has also barred banks from charging more than two percentage points in premium on their base rate as interest rates on loans of up to Rs 1.5 million on agricultural, entrepreneurial and business promotion.

Source: The Himalayan Times- August 07, 2019

Corporate News

India makes exemption for Nepal, allows some refined palmolein imports

February 12, 2020- India, which restricted imports of refined palm oil and palmolein in January, has exempted Nepal and has started issuing licences to import some refined palmolein from the Himalayan nation, two government officials told Reuters.

Read more ...

HIDCL, Power China to build 762MW Tamor reservoir project

Kathmandu, September 16- The Hydroelectricity Investment and Development Company Ltd (HIDCL) and state-owned Power China Corporation have jointly submitted a project development proposal at the Investment Board Nepal (IBN) to build the 762-megawatt Tamor reservoir project, which will cover Panchthar, Taplejung, Terhathum and Sankhuwasabha districts.

Read more ...

Security audit of BFIs compulsory

Kathmandu, September 10- Nepal Rastra Bank (NRB) has made it mandatory for banks and financial institutions (BFIs) to conduct an audit of their information and technology (IT) system.

Read more ...

Age limit set for CEOs, directors at BFIs

KATHMANDU: Nepal Rastra Bank has set an age bar for board of directors and chief executive officers of banks and financial institutions (BFIS).

Read more ...
Symbol % Change Last Price Turnover
NMBMF 10.0000 1,089.0 8,061,514.0
PPCL 9.9548 243.0 15,186,772.0
HURJA 9.7938 213.0 8,404,030.0
AKJCL 9.5890 160.0 2,925,010.0
NABIL 8.8632 1,130.0 383,441,401.0
Symbol % Change Last Price Turnover
SAEF -8.3333 11.0 1,535,420.0
STC -6.1750 7,506.0 16,408,960.0
NGPL -5.8824 256.0 30,367,017.0
BNT -5.6746 9,990.0 8,460,960.0
SADBL -5.3398 195.0 19,175,092.0
Symbol % Change Last Price Turnover
NRIC 5.1020 1,339.0 581,317,178.0
NABIL 8.8632 1,130.0 383,441,401.0
SHIVM 3.3395 1,114.0 289,195,532.0
NTC -0.2747 1,089.0 282,738,130.0
NBL 0.0000 393.0 255,168,030.0