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

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 ...

Sebon unveils policies and programs for FY 2019/20

KATHMANDU, July 16: The Securities Board of Nepal (Sebon) has unveiled a 72-point Policy and Program for Fiscal Year 2019/20 for the development of the securities and commodities exchange market.

Read more ...
Symbol % Change Last Price Turnover
SLICL 9.9644 309.0 13,943,985.0
HGI 9.9265 299.0 8,156,140.0
SIC 9.9156 521.0 4,882,471.0
HURJA 9.8039 112.0 661,680.0
IGI 9.7973 325.0 4,077,004.0
Symbol % Change Last Price Turnover
GURANS -4.7718 459.0 1,209,616.0
STC -4.6095 1,490.0 4,869,310.0
UNL -3.9374 17,542.0 354,420.0
DHPL -3.4483 56.0 62,649.0
GMFIL -3.4483 112.0 2,260.0
Symbol % Change Last Price Turnover
SWBBLP 0.0000 582.0 82,852,031.0
DDBL 3.0928 900.0 41,714,380.0
NMB 0.5063 397.0 38,255,443.0
NLIC 3.3898 915.0 37,063,002.0
NBL 0.0000 314.0 20,823,318.0