Stock related news & regulations of Nepal Rastra Bank

Kathmandu, July 24 - Nepal Rastra Bank has barred the local and provincial representatives from joining the board of banks and financial institutions during their tenure.

Issuing a circular today, the central bank stated that presence of elected representatives on the board of the BFIs could weaken the governance of the BFIs, as elected representatives are very likely to indulge in power play. The NRB provision bars even ward members from joining the BFIs’ board.

Earlier, the Banks and Financial Institutions Act had barred lawmakers from representing the board of BFIs. The central bank had lobbied to bring the provision to bar lawmakers from joining BFIs board.

The BAFI Bill submitted to the Parliament after necessary revision in the draft bill was returned to the House panel again after the lawmakers were criticised for removing the provision barring lawmakers from joining the board of BFIs. Subsequently, the finance committee had again submitted the bill incorporating the earlier provision that barred lawmakers from joining the BFIs’ board.

Following the enactment of BAFIA, some parliamentarians, who were on board of BFIs, had resigned from the concerned BFIs.

source: The Himalayan Times

Corporate News

Bank deposits growing at almost half the rate of loan expansion

Kathmandu, January 11 - Bankers seem to have largely ignored the credit crunch situation of the last fiscal, as credit expansion of banks is almost double than deposit collection in the first five months of the current fiscal.

Read more ...

SEBON directs hydel companies to disclose financial details before issuing IPO

Kathmandu, January 1 - Securities Board of Nepal (SEBON) has directed hydropower companies to publish a public notice disclosing their net worth and per share income before issuing initial public offering (IPO).

Read more ...

NRB issues foreign employment bonds

KATHMANDU, Dec 13: Nepal Rastra Bank (NRN) is issuing foreign employment saving bonds of Rs 500 million, targeting Nepalis working and residing abroad or those who have recently returned from foreign employment.

Read more ...

NRB proposes threshold for digital payments

Kathmandu, November 30 - Nepal Rastra Bank (NRB) has proposed the threshold for digital payments under card facilities, electronic wallet and mobile banking, and is seeking inputs from stakeholders before issuing a directive to the service providers.

Read more ...
Symbol % Change Last Price Turnover
SLBS 3.8751 965.0 19,120.0
SDESI 1.9718 362.0 3,982.0
SKBBL 1.8644 1,202.0 63,118.0
RBSPO 1.5259 12,775.0 31,031,210.0
RBCL 1.5132 13,350.0 2,127,390.0
Symbol % Change Last Price Turnover
NIBLPF -10.0000 9.0 14,261.0
UMHL -5.3812 211.0 1,808,979.0
GILB -3.8862 1,385.0 284,218.0
ARUN -3.6810 157.0 278,100.0
MPFL -3.6667 289.0 37,246.0
Symbol % Change Last Price Turnover
ODBL 0.4386 229.0 35,464,504.0
RBSPO 1.5259 12,775.0 31,031,210.0
PLIC -1.0391 1,619.0 16,548,109.0
BOKL -2.1164 370.0 11,816,515.0
CCBL 0.0000 200.0 11,343,876.0