NEWS

Government Revenue Up 19 %

Aug 29, 2016 0 56 seconds to read

August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last…

NBL to Introduce New Policy

Aug 29, 2016 0 2 minutes 2 seconds to read

August 29: Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). “NBL was unable to make new policy as CAR was less than 10 percent in previous years,” said Debendra Pratap Shah, CEO of NBL amid a press conference…

Yeti Bank’s Banking Literacy Program for Women

Aug 29, 2016 0 32 seconds to read

August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in…

Global IME’s Auto Loan for Suzuki Vehicles

Aug 29, 2016 0 43 seconds to read

August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj…

Intex 3G Smartphone in the Market

Aug 29, 2016 0 32 seconds to read

August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera…

New BF Dear Hill Shoes in the Market

Aug 29, 2016 0 26 seconds to read

August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival…

Kia Motors' New Showroom in Tinkune

Aug 29, 2016 0 35 seconds to read

August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be…

NMB Opens 3 New Branches

Aug 29, 2016 0 41 seconds to read

August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated…

Decline in Revenue from Service Export

Aug 28, 2016 0 1 minutes 51 seconds to read

August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank…

Major Welfare Funds Willing to Invest on Hydro

Aug 28, 2016 0 1 minutes 8 seconds to read

August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. “We are capable to invest up to Rs 89 billion on the…

Profit of Life Insurance Companies Decline

Aug 28, 2016 0 1 minutes 16 seconds to read

August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous…

Asian Life Upgrades Two Sub-Branches

Aug 28, 2016 0 34 seconds to read

August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd…

Agreement between Siddhartha Insurance and Health Concern

Aug 28, 2016 0 29 seconds to read

August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager…

Contractors' Meet of Siddhartha Cement

Aug 28, 2016 0 19 seconds to read

August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal,…

Non-Performing Loans of Development Banks Shrink

Aug 28, 2016 0 2 minutes 7 seconds to read

August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
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NEPSE

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			'id' => '4287',
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			'title' => 'Government Revenue Up 19 %',
			'sub_title' => '',
			'summary' => 'August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY',
			'content' => '<p style="text-align:justify">August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY which was 19.1 percent in the previous FY.</p>

<p style="text-align:justify">According to the NRB statistics, value added tax that grew by 11.3 percent in the previous FY has grown by 8.6 percent to Rs 122.07 billion in the last FY. However, the contribution of VAT in total revenue has decreased to 25.3 percent in the last FY from 27.7 percent of the previous FY. Meanwhile, the contribution of income tax in the total revenue during the last FY has significantly increased by 32.4 percent to Rs 117.13 billion which is 24.3 percent of the total revenue, slightly less than the VAT.</p>

<p style="text-align:justify">As per the details, the government has collected Rs 82.81 billion revenue through customs charges. In the last FY, the vehicle charge has increased by 13.8 percent which was 52 percent in the previous FY.&nbsp;</p>
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			'id' => '4286',
			'article_category_id' => '1',
			'title' => 'NBL to Introduce New Policy',
			'sub_title' => '',
			'summary' => 'August 29: Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). “NBL was unable to make new policy as CAR was less than 10 percent in previous years,” said Debendra Pratap Shah, CEO of NBL amid a press conference o',
			'content' => '<p style="text-align: justify;">August 29:&nbsp;Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). &ldquo;NBL was unable to make new policy as CAR was less than 10 percent in previous years,&rdquo; said Debendra Pratap Shah, CEO of NBL amid a press conference on August 28. According to him, after reaching CAR to 11.41 percent on mid-July this year, the bank can now open new branches and subsidiary companies along with make investment in the secondary market.</p>

<p style="text-align: justify;">In the FY 2071/2072, NBL earned net profit of Rs 3.1 billion. Out of the net profit, Rs 1.14 billion came from sales of properties and Rs 1.86 billion from other transactions. Apart from significant increase in the operating profit, the reserve fund of the bank that was negative since the last three decades was positive by Rs 380 million by the end of last FY.</p>

<p style="text-align: justify;">Currently, the paid up capital of NBL is Rs 6.46 billion. The bank is planning to meet the paid up capital of Rs 8 billion by issuing 23.73 percent right shares this year, as per Shah. However, the major share holder of the bank, Nepal government has not given any decision about purchasing the right shares, he added. According to him, the bank has an option of selling the right shares through auction bidding if the government decides not to invest in the right shares.</p>

<p style="text-align: justify;">If the right shares are sold through auction bidding, the government ownership in the bank will of 50.28 percent only. Currently, NBL has 62.21 percent government ownership and 37.79 percent of public ownership. &ldquo;If government ownership decreases, it will open door to bring foreign strategic partners,&rdquo; informed Shah. Previously, Nepal government had 38 percent ownership in NBL. However, the ownership reached 62 percent when the support of World Bank to NBL was converted into government ownership.</p>

<p style="text-align: justify;">Recently, NBL has started operation of Pumori-4 banking system. Similarly, it has built required infrastructure to start smart banking system. The bank has obtained NRB approval regarding implementation of the system. &nbsp;Likewise, the bank has finalised an agreement with Sajha Yatatyat to provide E-ticket to the passengers that will be started soon, informed Shah. If the plan gets work out, it will be the first incident in Nepal where passengers can pay bus fair with a smart card.</p>
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			'id' => '4285',
			'article_category_id' => '1',
			'title' => 'Yeti Bank’s Banking Literacy Program for Women',
			'sub_title' => '',
			'summary' => 'August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in ',
			'content' => '<p>August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in Palung branch on Saturday, August 27.</p>

<p>The program was participated by nearly 500 women engaged in agriculture, livestock farming and household business.</p>

<p>Deepanjali Khakurel, Head of Corporate Social Responsibility Department and Him Raj Dawadi gave training on financial literacy along with introduction, importance and benefits of microfinance to the participants during the program. The program also held discussion on women&#39;s access to ATM cards and mobile banking.</p>

<p>&nbsp;</p>
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			'id' => '4284',
			'article_category_id' => '1',
			'title' => 'Global IME’s Auto Loan for Suzuki Vehicles',
			'sub_title' => '',
			'summary' => 'August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj ',
			'content' => '<p style="text-align: justify;">August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj Regmi Chief Manager (SME and retail banking) of the bank and Manish Kumar Jain General Manager of Arun Continental signed on the agreement representing their respective company.</p>

<p style="text-align: justify;">As per the agreement, the bank will provide loans for purchasing Suzuki brand private and commercial vehicle by charging reasonable interest rate. The bank will provide loans up to 80 percent for the maximum period of 7 years.&nbsp; The agreement has been conducted in order to provide easy auto loan to its customers, informed the bank in a press statement. Presently, it is providing its services through 91 branches, 6 extension counters, 102 ATMs and 42 branchless banking services across the country.</p>
',
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			'sortorder' => '4117',
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		'Article' => array(
			'id' => '4283',
			'article_category_id' => '1',
			'title' => 'Intex 3G Smartphone in the Market',
			'sub_title' => '',
			'summary' => 'August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera ha',
			'content' => '<p style="text-align: justify;">August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera has 1 GB RAM and 8 GB ROM.</p>

<p style="text-align: justify;">The new product supporting 3G network service has 1.3 GHz Quadcore processor with android Marshmallow 6.0 version. The smartphone featuring five inches display comes with one year warranty as well. The handset is priced at Rs 8,199 in the Nepali market.&nbsp;</p>
',
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			'sortorder' => '4116',
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			'id' => '4282',
			'article_category_id' => '1',
			'title' => 'New BF Dear Hill Shoes in the Market',
			'sub_title' => '',
			'summary' => 'August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival Dashain-Ti',
			'content' => '<p style="text-align:justify">August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival Dashain-Tihar. According to the company, sports shoes and leather belt are two major attractions product line this year.&nbsp;</p>

<p style="text-align:justify">&ldquo;Youth targeted new models of shoes are very attractive and suitable to individuals of every level,&rdquo; said Homnath Upadhyaya, Managing Director of the company. &nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '4115',
			'image' => '20160829115934_dear hill.jpg',
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			'id' => '4281',
			'article_category_id' => '1',
			'title' => 'Kia Motors' New Showroom in Tinkune',
			'sub_title' => '',
			'summary' => 'August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be handle',
			'content' => '<p style="text-align:justify">August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be handled by Universal Moto Corp, the authorised distributor of Continental Associates.&nbsp;</p>

<p style="text-align:justify"><br />
According to the company, the new showroom occupying 3,000 square feet space will provide comfortable environment to its customers. The company is distributing four-wheelers including Picanto, Rio, Soul, Sportage, Sorento and Grand Carnival in the Nepali market. The company informs that it has been providing 3S facility such as sales, service and spear parts in the major cities of the country.&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '4114',
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		'Article' => array(
			'id' => '4280',
			'article_category_id' => '1',
			'title' => 'NMB Opens 3 New Branches',
			'sub_title' => '',
			'summary' => 'August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated the',
			'content' => '<p style="text-align: justify;">August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated the Palpa and Bhairahawa branches amid separate programs. Speaking on the occasion, Governor Nepal said that the Nepali banks needs to increase investment in agricultural sector of the country. &ldquo;We are dependent on India for a smallest thing. Now the banks need to provide subsidised loans to farmers in order to support them to pursue commercial livestock and agricultural farming,&rdquo; he added.</p>

<p style="text-align: justify;">Meanwhile, Nanda Kishore Rathi, Director of the bank and Ramu Paudyal, NRB&rsquo;s Regional Director inaugurated the Damak branch. With the addition of the three new branches, the bank now has 71 branches, 50 ATMs and seven extension counters.</p>
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			'sortorder' => '4113',
			'image' => '20160829110222_nmb.jpg',
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		'Article' => array(
			'id' => '4279',
			'article_category_id' => '1',
			'title' => 'Decline in Revenue from Service Export ',
			'sub_title' => '',
			'summary' => 'August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank (NRB',
			'content' => '<p style="text-align: justify;">August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank (NRB), during the period the total revenue from export of service had decreased by 7.2 percent while the total service expenditure had increased by 5.7 percent that resulted to high decline rate in income from the export of service.</p>

<p style="text-align: justify;"><br />
In the last FY, income from service export was negatively affected because of the decrease in the income from tourism sector due to the last year&#39;s devastating earthquake, long political instability and undeclared border blockade. &nbsp;Although, the net service revenue declined, the overall BOP surplus has increased by Rs 46 billion to Rs 100.91 billion.&nbsp;</p>

<p style="text-align: justify;"><br />
In the FY 2071/72, the net service income had increased by 19.4 percent to Rs 27.61 billion. However, in the last FY, it declined by around 50 percent to Rs 9.84 billion as per the Overall Economic and Financial Situation report of NRB.&nbsp;</p>

<p style="text-align: justify;"><br />
Although such revenue received from foreigners has decrease, expenses of Nepalis in the foreign tourism have increased by 6.1 percent. It has lead to the negative growth rate in the net revenue. &nbsp;</p>

<p style="text-align: justify;"><br />
The tourism revenue which was increased by 15.2 percent in the previous year has decreased by 21.8 percent in the last year. However, the report mentioned that the tourism expenditure has increased by 6.1 percent. Moreover, the expenditure on foreign education has increased by 18 percent in the last FY which had increased by 12.9 percent in the previous year. According to the NRB, the increased in outflow of service expenditure than the inflow of service revenue has caused the decline in the overall service export revenue of the country.</p>

<p style="text-align: justify;"><br />
Another reason for the decrease in the service income is due to the decline in the remittance growth rate. As per the NRB, the growth rate of remittance has declined by 50 percent in the last FY. During the last FY, the growth rate of remittance was 7.77 percent which was 13.6 percent in the previous FY.&nbsp;</p>

<p>&nbsp;</p>
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			'sortorder' => '4112',
			'image' => '20160828045811_bop[.JPG',
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		'Article' => array(
			'id' => '4278',
			'article_category_id' => '1',
			'title' => 'Major Welfare Funds Willing to Invest on Hydro',
			'sub_title' => '',
			'summary' => 'August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. “We are capable to invest up to Rs 89 billion on the country',
			'content' => '<p style="text-align: justify;">August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. &ldquo;We are capable to invest up to Rs 89 billion on the country&rsquo;s hydropower sector,&rdquo; stated the funds collectively. The funds have committed to invest in the sector given that the government brings any solid policy to back their investment.</p>

<p style="text-align: justify;">The funds including Employees Provident Fund (EPF), Citizens Investment Trust (CIT), Rastriya Bema Sanstha and Nepal Telecom expressed their commitment before Minister of Energy, Dinanath Sharma. In the discussion program held on August 26, EPF committed to investment Rs 32 billion in the hydropower sector.&nbsp;&nbsp; Apart of this, it also mentioned of finalising agreement with various projects in order to invest Rs 35 billion. Similarly, CIT is willing to invest Rs 21 billion whereas NT, Hydropower Investment and Development Company and Nepal Army Welfare Fund are willing to invest Rs 10 billion each. Likewise, Rastriya Beema Sanstha and Nepal Police Welfare Fund are willing to invest Rs 5 billion and 600 million respectively.</p>

<p style="text-align: justify;">The funds expressed their desire to invest in the country&rsquo;s hydropower sector, if the government brings a clear policy. According to the funds, they can invest additional Rs 54 billion annually in the sector.&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
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		'Article' => array(
			'id' => '4277',
			'article_category_id' => '1',
			'title' => 'Profit of Life Insurance Companies Decline',
			'sub_title' => '',
			'summary' => 'August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous FY.',
			'content' => '<p style="text-align: justify;">August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous FY.</p>

<p style="text-align: justify;">The decline in the profit of the life insurance companies is attributed to the major losses caused by the devastating earthquake of last year. According to the published annual financial reports, Nepal Life Insurance has earned the highest profit in the last FY. However, the profit earned by the company has decreased by 54.40 percent to Rs 240.5 million. Similarly, Gurans Life Insurance has logged the highest profit increase in percentage term despite of lower total amount. &nbsp;The profit of Gurans Life has increased by 136.86 percent during the last FY.</p>

<p style="text-align: justify;">According to the numbers of insurance policies issued, Nepal Life Insurance has issued the maximum number of insurance policies. The number of policies has increased to 1.24 million during the last FY. The company has earned the highest amount of insurance premiums as well. It has earned Rs 7.06 billon insurance policies by the end of the last FY.</p>

<p style="text-align: justify;">Likewise, Prime Insurance has the highest reserve fund among the insurance companies. The company has increased its reserve fund by 37 percent to Rs 685 million in the last FY from Rs 496.5 million in the previous FY.&nbsp;</p>
',
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			'id' => '4276',
			'article_category_id' => '1',
			'title' => 'Asian Life Upgrades Two Sub-Branches',
			'sub_title' => '',
			'summary' => 'August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd branch.',
			'content' => '<p>August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd branch.</p>

<p><br />
Dinesh Lal Shrestha, Director of the company inaugurated branch office of Lalitpur and Rajesh Kumar Shrestha, CEO of the company inaugurated the branch at Tikapur.&nbsp;</p>

<p><br />
The company is providing its services through 23 branches and 72 sub-branches across the country. The company informed of opening more branches and sub-branches in near future in order to provide effective customers services.&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '4109',
			'image' => '20160828012321_asian life.jpg',
			'article_date' => '2016-08-28 00:00:00',
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			'id' => '4275',
			'article_category_id' => '1',
			'title' => 'Agreement between Siddhartha Insurance and Health Concern',
			'sub_title' => '',
			'summary' => 'August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager o',
			'content' => '<p style="text-align:justify">August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager of Siddhartha Insurance and Dr Subash Pyakurel, CEO of Health Concern signed the agreement paper on this regard. According to Chhetri, the agreement was carried out in a bid to support the public who are deprived from health facilities by including them in insurance program. CEO of Health Concern, Pyakurel claimed that the health insurance sector will be successful in Nepal as in the developed countries.&nbsp;</p>

<p>&nbsp;</p>
',
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			'modified' => '2016-08-28',
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			'description' => '',
			'sortorder' => '4108',
			'image' => '20160828010326_health concern.jpg',
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			'id' => '4274',
			'article_category_id' => '1',
			'title' => 'Contractors' Meet of Siddhartha Cement',
			'sub_title' => '',
			'summary' => 'August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal, Act',
			'content' => '<p style="text-align:justify">August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal, Acting Director of the company expressed&nbsp;his gratitude to all entrepreneurs for selecting Sidhhartha cement for the constructional works. In the program, Rahul Agrawal, Director of the company clarified about the products.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-08-28',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4107',
			'image' => '20160828125656_siddhartha cement.jpg',
			'article_date' => '2016-08-28 00:00:00',
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			'id' => '4273',
			'article_category_id' => '1',
			'title' => 'Non-Performing Loans of Development Banks Shrink',
			'sub_title' => '',
			'summary' => 'August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the unaudite',
			'content' => '<p style="text-align: justify;">August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the unaudited fourth quarter financial reports of 54 development banks, non-performing loans have limited to 1.05 percent average. Experts opined that reduction in non-performing loans can be attributed to Nepal Rastra Bank&rsquo;s tighten loan management policy and improved performance of the banks.</p>

<p style="text-align: justify;">NRB (the Central Bank of Nepal), as a regulatory financial institution of the country, has classified the loan basically into the pass loan, sub-standard loan, doubtful loan and loss or bad loan. Pass loan is that type of loan whose interest or principal payments are less than three months in arrears. Sub-standard loans whose interest or principal payments are longer than three months in arrears of lending conditions are eased. Doubtful is liquidation of outstanding debts appearing uncertain and the accounts suggest that there will be a loss, the exact amount of which cannot be determined. Loss loans are regarded as not collectable, usually loans to firms which applied for legal resolution and protection under bankruptcy laws. Pass loans are under the category of performing loans whereas sub-standard loan, doubtful loan and loss loan are under the non-performing loans.</p>

<p style="text-align: justify;"><img alt="" src="/userfiles/images/data%201.JPG" style="height:305px; width:340px" /><img alt="" src="/userfiles/images/data%202.JPG" style="height:303px; width:340px" /></p>

<p style="text-align: justify;">Increase in non-performing loans is considered risky in banking sector. Therefore, NRB has directed banks and financial institutions (BFIs) to maintain such loans below 5 percent of total loans. After the NRB directive, Western Development Bank has succeeded to reduce its non-performing loans by 66.84 percent. The bank had 67 percent non-performing loans in the previous FY which has decreased to 0.16 percent during the last FY. Similarly, non-performing loans of Ace Development Bank has decreased to 1.51 percent in the last FY from 3.68 percent in the previous FY. Meanwhile, Sajha Bikash Bank has highest non-performing loans of 2.13 percent. The bank had 0.19 percent non-performing loans in the previous FY that has increased to 3.12 percent in the last FY.</p>

<p style="text-align: justify;">At the same time, 5 development banks have zero non-performing loans. The banks having zero non-performing loans are Bagmati, Cosmos, Kakrebihar, Manaslu and Pacific Development Bank. Similarly, 30 development banks have below 1 percent non-performing loans. &nbsp;</p>
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '4287',
			'article_category_id' => '1',
			'title' => 'Government Revenue Up 19 %',
			'sub_title' => '',
			'summary' => 'August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY',
			'content' => '<p style="text-align:justify">August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY which was 19.1 percent in the previous FY.</p>

<p style="text-align:justify">According to the NRB statistics, value added tax that grew by 11.3 percent in the previous FY has grown by 8.6 percent to Rs 122.07 billion in the last FY. However, the contribution of VAT in total revenue has decreased to 25.3 percent in the last FY from 27.7 percent of the previous FY. Meanwhile, the contribution of income tax in the total revenue during the last FY has significantly increased by 32.4 percent to Rs 117.13 billion which is 24.3 percent of the total revenue, slightly less than the VAT.</p>

<p style="text-align:justify">As per the details, the government has collected Rs 82.81 billion revenue through customs charges. In the last FY, the vehicle charge has increased by 13.8 percent which was 52 percent in the previous FY.&nbsp;</p>
',
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			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4120',
			'image' => '20160829051813_government revenue.JPG',
			'article_date' => '2016-08-29 00:00:00',
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			'id' => '4286',
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			'title' => 'NBL to Introduce New Policy',
			'sub_title' => '',
			'summary' => 'August 29: Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). “NBL was unable to make new policy as CAR was less than 10 percent in previous years,” said Debendra Pratap Shah, CEO of NBL amid a press conference o',
			'content' => '<p style="text-align: justify;">August 29:&nbsp;Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). &ldquo;NBL was unable to make new policy as CAR was less than 10 percent in previous years,&rdquo; said Debendra Pratap Shah, CEO of NBL amid a press conference on August 28. According to him, after reaching CAR to 11.41 percent on mid-July this year, the bank can now open new branches and subsidiary companies along with make investment in the secondary market.</p>

<p style="text-align: justify;">In the FY 2071/2072, NBL earned net profit of Rs 3.1 billion. Out of the net profit, Rs 1.14 billion came from sales of properties and Rs 1.86 billion from other transactions. Apart from significant increase in the operating profit, the reserve fund of the bank that was negative since the last three decades was positive by Rs 380 million by the end of last FY.</p>

<p style="text-align: justify;">Currently, the paid up capital of NBL is Rs 6.46 billion. The bank is planning to meet the paid up capital of Rs 8 billion by issuing 23.73 percent right shares this year, as per Shah. However, the major share holder of the bank, Nepal government has not given any decision about purchasing the right shares, he added. According to him, the bank has an option of selling the right shares through auction bidding if the government decides not to invest in the right shares.</p>

<p style="text-align: justify;">If the right shares are sold through auction bidding, the government ownership in the bank will of 50.28 percent only. Currently, NBL has 62.21 percent government ownership and 37.79 percent of public ownership. &ldquo;If government ownership decreases, it will open door to bring foreign strategic partners,&rdquo; informed Shah. Previously, Nepal government had 38 percent ownership in NBL. However, the ownership reached 62 percent when the support of World Bank to NBL was converted into government ownership.</p>

<p style="text-align: justify;">Recently, NBL has started operation of Pumori-4 banking system. Similarly, it has built required infrastructure to start smart banking system. The bank has obtained NRB approval regarding implementation of the system. &nbsp;Likewise, the bank has finalised an agreement with Sajha Yatatyat to provide E-ticket to the passengers that will be started soon, informed Shah. If the plan gets work out, it will be the first incident in Nepal where passengers can pay bus fair with a smart card.</p>
',
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			'sortorder' => '4119',
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			'id' => '4285',
			'article_category_id' => '1',
			'title' => 'Yeti Bank’s Banking Literacy Program for Women',
			'sub_title' => '',
			'summary' => 'August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in ',
			'content' => '<p>August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in Palung branch on Saturday, August 27.</p>

<p>The program was participated by nearly 500 women engaged in agriculture, livestock farming and household business.</p>

<p>Deepanjali Khakurel, Head of Corporate Social Responsibility Department and Him Raj Dawadi gave training on financial literacy along with introduction, importance and benefits of microfinance to the participants during the program. The program also held discussion on women&#39;s access to ATM cards and mobile banking.</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4118',
			'image' => '20160829012503_yeti.jpg',
			'article_date' => '2016-08-29 00:00:00',
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			'id' => '4284',
			'article_category_id' => '1',
			'title' => 'Global IME’s Auto Loan for Suzuki Vehicles',
			'sub_title' => '',
			'summary' => 'August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj ',
			'content' => '<p style="text-align: justify;">August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj Regmi Chief Manager (SME and retail banking) of the bank and Manish Kumar Jain General Manager of Arun Continental signed on the agreement representing their respective company.</p>

<p style="text-align: justify;">As per the agreement, the bank will provide loans for purchasing Suzuki brand private and commercial vehicle by charging reasonable interest rate. The bank will provide loans up to 80 percent for the maximum period of 7 years.&nbsp; The agreement has been conducted in order to provide easy auto loan to its customers, informed the bank in a press statement. Presently, it is providing its services through 91 branches, 6 extension counters, 102 ATMs and 42 branchless banking services across the country.</p>
',
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			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4117',
			'image' => '20160829011221_ime.jpg',
			'article_date' => '2016-08-29 00:00:00',
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			'id' => '4283',
			'article_category_id' => '1',
			'title' => 'Intex 3G Smartphone in the Market',
			'sub_title' => '',
			'summary' => 'August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera ha',
			'content' => '<p style="text-align: justify;">August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera has 1 GB RAM and 8 GB ROM.</p>

<p style="text-align: justify;">The new product supporting 3G network service has 1.3 GHz Quadcore processor with android Marshmallow 6.0 version. The smartphone featuring five inches display comes with one year warranty as well. The handset is priced at Rs 8,199 in the Nepali market.&nbsp;</p>
',
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			'created' => '2016-08-29',
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			'sortorder' => '4116',
			'image' => '20160829121854_intex.JPG',
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			'id' => '4282',
			'article_category_id' => '1',
			'title' => 'New BF Dear Hill Shoes in the Market',
			'sub_title' => '',
			'summary' => 'August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival Dashain-Ti',
			'content' => '<p style="text-align:justify">August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival Dashain-Tihar. According to the company, sports shoes and leather belt are two major attractions product line this year.&nbsp;</p>

<p style="text-align:justify">&ldquo;Youth targeted new models of shoes are very attractive and suitable to individuals of every level,&rdquo; said Homnath Upadhyaya, Managing Director of the company. &nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
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			'sortorder' => '4115',
			'image' => '20160829115934_dear hill.jpg',
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			'id' => '4281',
			'article_category_id' => '1',
			'title' => 'Kia Motors' New Showroom in Tinkune',
			'sub_title' => '',
			'summary' => 'August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be handle',
			'content' => '<p style="text-align:justify">August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be handled by Universal Moto Corp, the authorised distributor of Continental Associates.&nbsp;</p>

<p style="text-align:justify"><br />
According to the company, the new showroom occupying 3,000 square feet space will provide comfortable environment to its customers. The company is distributing four-wheelers including Picanto, Rio, Soul, Sportage, Sorento and Grand Carnival in the Nepali market. The company informs that it has been providing 3S facility such as sales, service and spear parts in the major cities of the country.&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '4280',
			'article_category_id' => '1',
			'title' => 'NMB Opens 3 New Branches',
			'sub_title' => '',
			'summary' => 'August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated the',
			'content' => '<p style="text-align: justify;">August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated the Palpa and Bhairahawa branches amid separate programs. Speaking on the occasion, Governor Nepal said that the Nepali banks needs to increase investment in agricultural sector of the country. &ldquo;We are dependent on India for a smallest thing. Now the banks need to provide subsidised loans to farmers in order to support them to pursue commercial livestock and agricultural farming,&rdquo; he added.</p>

<p style="text-align: justify;">Meanwhile, Nanda Kishore Rathi, Director of the bank and Ramu Paudyal, NRB&rsquo;s Regional Director inaugurated the Damak branch. With the addition of the three new branches, the bank now has 71 branches, 50 ATMs and seven extension counters.</p>
',
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			'sortorder' => '4113',
			'image' => '20160829110222_nmb.jpg',
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		'Article' => array(
			'id' => '4279',
			'article_category_id' => '1',
			'title' => 'Decline in Revenue from Service Export ',
			'sub_title' => '',
			'summary' => 'August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank (NRB',
			'content' => '<p style="text-align: justify;">August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank (NRB), during the period the total revenue from export of service had decreased by 7.2 percent while the total service expenditure had increased by 5.7 percent that resulted to high decline rate in income from the export of service.</p>

<p style="text-align: justify;"><br />
In the last FY, income from service export was negatively affected because of the decrease in the income from tourism sector due to the last year&#39;s devastating earthquake, long political instability and undeclared border blockade. &nbsp;Although, the net service revenue declined, the overall BOP surplus has increased by Rs 46 billion to Rs 100.91 billion.&nbsp;</p>

<p style="text-align: justify;"><br />
In the FY 2071/72, the net service income had increased by 19.4 percent to Rs 27.61 billion. However, in the last FY, it declined by around 50 percent to Rs 9.84 billion as per the Overall Economic and Financial Situation report of NRB.&nbsp;</p>

<p style="text-align: justify;"><br />
Although such revenue received from foreigners has decrease, expenses of Nepalis in the foreign tourism have increased by 6.1 percent. It has lead to the negative growth rate in the net revenue. &nbsp;</p>

<p style="text-align: justify;"><br />
The tourism revenue which was increased by 15.2 percent in the previous year has decreased by 21.8 percent in the last year. However, the report mentioned that the tourism expenditure has increased by 6.1 percent. Moreover, the expenditure on foreign education has increased by 18 percent in the last FY which had increased by 12.9 percent in the previous year. According to the NRB, the increased in outflow of service expenditure than the inflow of service revenue has caused the decline in the overall service export revenue of the country.</p>

<p style="text-align: justify;"><br />
Another reason for the decrease in the service income is due to the decline in the remittance growth rate. As per the NRB, the growth rate of remittance has declined by 50 percent in the last FY. During the last FY, the growth rate of remittance was 7.77 percent which was 13.6 percent in the previous FY.&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4112',
			'image' => '20160828045811_bop[.JPG',
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		'Article' => array(
			'id' => '4278',
			'article_category_id' => '1',
			'title' => 'Major Welfare Funds Willing to Invest on Hydro',
			'sub_title' => '',
			'summary' => 'August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. “We are capable to invest up to Rs 89 billion on the country',
			'content' => '<p style="text-align: justify;">August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. &ldquo;We are capable to invest up to Rs 89 billion on the country&rsquo;s hydropower sector,&rdquo; stated the funds collectively. The funds have committed to invest in the sector given that the government brings any solid policy to back their investment.</p>

<p style="text-align: justify;">The funds including Employees Provident Fund (EPF), Citizens Investment Trust (CIT), Rastriya Bema Sanstha and Nepal Telecom expressed their commitment before Minister of Energy, Dinanath Sharma. In the discussion program held on August 26, EPF committed to investment Rs 32 billion in the hydropower sector.&nbsp;&nbsp; Apart of this, it also mentioned of finalising agreement with various projects in order to invest Rs 35 billion. Similarly, CIT is willing to invest Rs 21 billion whereas NT, Hydropower Investment and Development Company and Nepal Army Welfare Fund are willing to invest Rs 10 billion each. Likewise, Rastriya Beema Sanstha and Nepal Police Welfare Fund are willing to invest Rs 5 billion and 600 million respectively.</p>

<p style="text-align: justify;">The funds expressed their desire to invest in the country&rsquo;s hydropower sector, if the government brings a clear policy. According to the funds, they can invest additional Rs 54 billion annually in the sector.&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4111',
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		'Article' => array(
			'id' => '4277',
			'article_category_id' => '1',
			'title' => 'Profit of Life Insurance Companies Decline',
			'sub_title' => '',
			'summary' => 'August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous FY.',
			'content' => '<p style="text-align: justify;">August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous FY.</p>

<p style="text-align: justify;">The decline in the profit of the life insurance companies is attributed to the major losses caused by the devastating earthquake of last year. According to the published annual financial reports, Nepal Life Insurance has earned the highest profit in the last FY. However, the profit earned by the company has decreased by 54.40 percent to Rs 240.5 million. Similarly, Gurans Life Insurance has logged the highest profit increase in percentage term despite of lower total amount. &nbsp;The profit of Gurans Life has increased by 136.86 percent during the last FY.</p>

<p style="text-align: justify;">According to the numbers of insurance policies issued, Nepal Life Insurance has issued the maximum number of insurance policies. The number of policies has increased to 1.24 million during the last FY. The company has earned the highest amount of insurance premiums as well. It has earned Rs 7.06 billon insurance policies by the end of the last FY.</p>

<p style="text-align: justify;">Likewise, Prime Insurance has the highest reserve fund among the insurance companies. The company has increased its reserve fund by 37 percent to Rs 685 million in the last FY from Rs 496.5 million in the previous FY.&nbsp;</p>
',
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			'id' => '4276',
			'article_category_id' => '1',
			'title' => 'Asian Life Upgrades Two Sub-Branches',
			'sub_title' => '',
			'summary' => 'August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd branch.',
			'content' => '<p>August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd branch.</p>

<p><br />
Dinesh Lal Shrestha, Director of the company inaugurated branch office of Lalitpur and Rajesh Kumar Shrestha, CEO of the company inaugurated the branch at Tikapur.&nbsp;</p>

<p><br />
The company is providing its services through 23 branches and 72 sub-branches across the country. The company informed of opening more branches and sub-branches in near future in order to provide effective customers services.&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '4109',
			'image' => '20160828012321_asian life.jpg',
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		'Article' => array(
			'id' => '4275',
			'article_category_id' => '1',
			'title' => 'Agreement between Siddhartha Insurance and Health Concern',
			'sub_title' => '',
			'summary' => 'August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager o',
			'content' => '<p style="text-align:justify">August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager of Siddhartha Insurance and Dr Subash Pyakurel, CEO of Health Concern signed the agreement paper on this regard. According to Chhetri, the agreement was carried out in a bid to support the public who are deprived from health facilities by including them in insurance program. CEO of Health Concern, Pyakurel claimed that the health insurance sector will be successful in Nepal as in the developed countries.&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '4108',
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		'Article' => array(
			'id' => '4274',
			'article_category_id' => '1',
			'title' => 'Contractors' Meet of Siddhartha Cement',
			'sub_title' => '',
			'summary' => 'August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal, Act',
			'content' => '<p style="text-align:justify">August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal, Acting Director of the company expressed&nbsp;his gratitude to all entrepreneurs for selecting Sidhhartha cement for the constructional works. In the program, Rahul Agrawal, Director of the company clarified about the products.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-08-28',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4107',
			'image' => '20160828125656_siddhartha cement.jpg',
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			'id' => '4273',
			'article_category_id' => '1',
			'title' => 'Non-Performing Loans of Development Banks Shrink',
			'sub_title' => '',
			'summary' => 'August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the unaudite',
			'content' => '<p style="text-align: justify;">August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the unaudited fourth quarter financial reports of 54 development banks, non-performing loans have limited to 1.05 percent average. Experts opined that reduction in non-performing loans can be attributed to Nepal Rastra Bank&rsquo;s tighten loan management policy and improved performance of the banks.</p>

<p style="text-align: justify;">NRB (the Central Bank of Nepal), as a regulatory financial institution of the country, has classified the loan basically into the pass loan, sub-standard loan, doubtful loan and loss or bad loan. Pass loan is that type of loan whose interest or principal payments are less than three months in arrears. Sub-standard loans whose interest or principal payments are longer than three months in arrears of lending conditions are eased. Doubtful is liquidation of outstanding debts appearing uncertain and the accounts suggest that there will be a loss, the exact amount of which cannot be determined. Loss loans are regarded as not collectable, usually loans to firms which applied for legal resolution and protection under bankruptcy laws. Pass loans are under the category of performing loans whereas sub-standard loan, doubtful loan and loss loan are under the non-performing loans.</p>

<p style="text-align: justify;"><img alt="" src="/userfiles/images/data%201.JPG" style="height:305px; width:340px" /><img alt="" src="/userfiles/images/data%202.JPG" style="height:303px; width:340px" /></p>

<p style="text-align: justify;">Increase in non-performing loans is considered risky in banking sector. Therefore, NRB has directed banks and financial institutions (BFIs) to maintain such loans below 5 percent of total loans. After the NRB directive, Western Development Bank has succeeded to reduce its non-performing loans by 66.84 percent. The bank had 67 percent non-performing loans in the previous FY which has decreased to 0.16 percent during the last FY. Similarly, non-performing loans of Ace Development Bank has decreased to 1.51 percent in the last FY from 3.68 percent in the previous FY. Meanwhile, Sajha Bikash Bank has highest non-performing loans of 2.13 percent. The bank had 0.19 percent non-performing loans in the previous FY that has increased to 3.12 percent in the last FY.</p>

<p style="text-align: justify;">At the same time, 5 development banks have zero non-performing loans. The banks having zero non-performing loans are Bagmati, Cosmos, Kakrebihar, Manaslu and Pacific Development Bank. Similarly, 30 development banks have below 1 percent non-performing loans. &nbsp;</p>
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		'Article' => array(
			'id' => '4287',
			'article_category_id' => '1',
			'title' => 'Government Revenue Up 19 %',
			'sub_title' => '',
			'summary' => 'August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY',
			'content' => '<p style="text-align:justify">August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY which was 19.1 percent in the previous FY.</p>

<p style="text-align:justify">According to the NRB statistics, value added tax that grew by 11.3 percent in the previous FY has grown by 8.6 percent to Rs 122.07 billion in the last FY. However, the contribution of VAT in total revenue has decreased to 25.3 percent in the last FY from 27.7 percent of the previous FY. Meanwhile, the contribution of income tax in the total revenue during the last FY has significantly increased by 32.4 percent to Rs 117.13 billion which is 24.3 percent of the total revenue, slightly less than the VAT.</p>

<p style="text-align:justify">As per the details, the government has collected Rs 82.81 billion revenue through customs charges. In the last FY, the vehicle charge has increased by 13.8 percent which was 52 percent in the previous FY.&nbsp;</p>
',
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			'sortorder' => '4120',
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			'id' => '4286',
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			'title' => 'NBL to Introduce New Policy',
			'sub_title' => '',
			'summary' => 'August 29: Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). “NBL was unable to make new policy as CAR was less than 10 percent in previous years,” said Debendra Pratap Shah, CEO of NBL amid a press conference o',
			'content' => '<p style="text-align: justify;">August 29:&nbsp;Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). &ldquo;NBL was unable to make new policy as CAR was less than 10 percent in previous years,&rdquo; said Debendra Pratap Shah, CEO of NBL amid a press conference on August 28. According to him, after reaching CAR to 11.41 percent on mid-July this year, the bank can now open new branches and subsidiary companies along with make investment in the secondary market.</p>

<p style="text-align: justify;">In the FY 2071/2072, NBL earned net profit of Rs 3.1 billion. Out of the net profit, Rs 1.14 billion came from sales of properties and Rs 1.86 billion from other transactions. Apart from significant increase in the operating profit, the reserve fund of the bank that was negative since the last three decades was positive by Rs 380 million by the end of last FY.</p>

<p style="text-align: justify;">Currently, the paid up capital of NBL is Rs 6.46 billion. The bank is planning to meet the paid up capital of Rs 8 billion by issuing 23.73 percent right shares this year, as per Shah. However, the major share holder of the bank, Nepal government has not given any decision about purchasing the right shares, he added. According to him, the bank has an option of selling the right shares through auction bidding if the government decides not to invest in the right shares.</p>

<p style="text-align: justify;">If the right shares are sold through auction bidding, the government ownership in the bank will of 50.28 percent only. Currently, NBL has 62.21 percent government ownership and 37.79 percent of public ownership. &ldquo;If government ownership decreases, it will open door to bring foreign strategic partners,&rdquo; informed Shah. Previously, Nepal government had 38 percent ownership in NBL. However, the ownership reached 62 percent when the support of World Bank to NBL was converted into government ownership.</p>

<p style="text-align: justify;">Recently, NBL has started operation of Pumori-4 banking system. Similarly, it has built required infrastructure to start smart banking system. The bank has obtained NRB approval regarding implementation of the system. &nbsp;Likewise, the bank has finalised an agreement with Sajha Yatatyat to provide E-ticket to the passengers that will be started soon, informed Shah. If the plan gets work out, it will be the first incident in Nepal where passengers can pay bus fair with a smart card.</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4119',
			'image' => '20160829034103_nbl.JPG',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 2 => array(
		'Article' => array(
			'id' => '4285',
			'article_category_id' => '1',
			'title' => 'Yeti Bank’s Banking Literacy Program for Women',
			'sub_title' => '',
			'summary' => 'August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in ',
			'content' => '<p>August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in Palung branch on Saturday, August 27.</p>

<p>The program was participated by nearly 500 women engaged in agriculture, livestock farming and household business.</p>

<p>Deepanjali Khakurel, Head of Corporate Social Responsibility Department and Him Raj Dawadi gave training on financial literacy along with introduction, importance and benefits of microfinance to the participants during the program. The program also held discussion on women&#39;s access to ATM cards and mobile banking.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4118',
			'image' => '20160829012503_yeti.jpg',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '4284',
			'article_category_id' => '1',
			'title' => 'Global IME’s Auto Loan for Suzuki Vehicles',
			'sub_title' => '',
			'summary' => 'August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj ',
			'content' => '<p style="text-align: justify;">August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj Regmi Chief Manager (SME and retail banking) of the bank and Manish Kumar Jain General Manager of Arun Continental signed on the agreement representing their respective company.</p>

<p style="text-align: justify;">As per the agreement, the bank will provide loans for purchasing Suzuki brand private and commercial vehicle by charging reasonable interest rate. The bank will provide loans up to 80 percent for the maximum period of 7 years.&nbsp; The agreement has been conducted in order to provide easy auto loan to its customers, informed the bank in a press statement. Presently, it is providing its services through 91 branches, 6 extension counters, 102 ATMs and 42 branchless banking services across the country.</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4117',
			'image' => '20160829011221_ime.jpg',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '4283',
			'article_category_id' => '1',
			'title' => 'Intex 3G Smartphone in the Market',
			'sub_title' => '',
			'summary' => 'August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera ha',
			'content' => '<p style="text-align: justify;">August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera has 1 GB RAM and 8 GB ROM.</p>

<p style="text-align: justify;">The new product supporting 3G network service has 1.3 GHz Quadcore processor with android Marshmallow 6.0 version. The smartphone featuring five inches display comes with one year warranty as well. The handset is priced at Rs 8,199 in the Nepali market.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4116',
			'image' => '20160829121854_intex.JPG',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '4282',
			'article_category_id' => '1',
			'title' => 'New BF Dear Hill Shoes in the Market',
			'sub_title' => '',
			'summary' => 'August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival Dashain-Ti',
			'content' => '<p style="text-align:justify">August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival Dashain-Tihar. According to the company, sports shoes and leather belt are two major attractions product line this year.&nbsp;</p>

<p style="text-align:justify">&ldquo;Youth targeted new models of shoes are very attractive and suitable to individuals of every level,&rdquo; said Homnath Upadhyaya, Managing Director of the company. &nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4115',
			'image' => '20160829115934_dear hill.jpg',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '4281',
			'article_category_id' => '1',
			'title' => 'Kia Motors' New Showroom in Tinkune',
			'sub_title' => '',
			'summary' => 'August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be handle',
			'content' => '<p style="text-align:justify">August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be handled by Universal Moto Corp, the authorised distributor of Continental Associates.&nbsp;</p>

<p style="text-align:justify"><br />
According to the company, the new showroom occupying 3,000 square feet space will provide comfortable environment to its customers. The company is distributing four-wheelers including Picanto, Rio, Soul, Sportage, Sorento and Grand Carnival in the Nepali market. The company informs that it has been providing 3S facility such as sales, service and spear parts in the major cities of the country.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4114',
			'image' => '20160829114435_kia.jpg',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '4280',
			'article_category_id' => '1',
			'title' => 'NMB Opens 3 New Branches',
			'sub_title' => '',
			'summary' => 'August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated the',
			'content' => '<p style="text-align: justify;">August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated the Palpa and Bhairahawa branches amid separate programs. Speaking on the occasion, Governor Nepal said that the Nepali banks needs to increase investment in agricultural sector of the country. &ldquo;We are dependent on India for a smallest thing. Now the banks need to provide subsidised loans to farmers in order to support them to pursue commercial livestock and agricultural farming,&rdquo; he added.</p>

<p style="text-align: justify;">Meanwhile, Nanda Kishore Rathi, Director of the bank and Ramu Paudyal, NRB&rsquo;s Regional Director inaugurated the Damak branch. With the addition of the three new branches, the bank now has 71 branches, 50 ATMs and seven extension counters.</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4113',
			'image' => '20160829110222_nmb.jpg',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '4279',
			'article_category_id' => '1',
			'title' => 'Decline in Revenue from Service Export ',
			'sub_title' => '',
			'summary' => 'August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank (NRB',
			'content' => '<p style="text-align: justify;">August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank (NRB), during the period the total revenue from export of service had decreased by 7.2 percent while the total service expenditure had increased by 5.7 percent that resulted to high decline rate in income from the export of service.</p>

<p style="text-align: justify;"><br />
In the last FY, income from service export was negatively affected because of the decrease in the income from tourism sector due to the last year&#39;s devastating earthquake, long political instability and undeclared border blockade. &nbsp;Although, the net service revenue declined, the overall BOP surplus has increased by Rs 46 billion to Rs 100.91 billion.&nbsp;</p>

<p style="text-align: justify;"><br />
In the FY 2071/72, the net service income had increased by 19.4 percent to Rs 27.61 billion. However, in the last FY, it declined by around 50 percent to Rs 9.84 billion as per the Overall Economic and Financial Situation report of NRB.&nbsp;</p>

<p style="text-align: justify;"><br />
Although such revenue received from foreigners has decrease, expenses of Nepalis in the foreign tourism have increased by 6.1 percent. It has lead to the negative growth rate in the net revenue. &nbsp;</p>

<p style="text-align: justify;"><br />
The tourism revenue which was increased by 15.2 percent in the previous year has decreased by 21.8 percent in the last year. However, the report mentioned that the tourism expenditure has increased by 6.1 percent. Moreover, the expenditure on foreign education has increased by 18 percent in the last FY which had increased by 12.9 percent in the previous year. According to the NRB, the increased in outflow of service expenditure than the inflow of service revenue has caused the decline in the overall service export revenue of the country.</p>

<p style="text-align: justify;"><br />
Another reason for the decrease in the service income is due to the decline in the remittance growth rate. As per the NRB, the growth rate of remittance has declined by 50 percent in the last FY. During the last FY, the growth rate of remittance was 7.77 percent which was 13.6 percent in the previous FY.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4112',
			'image' => '20160828045811_bop[.JPG',
			'article_date' => '2016-08-28 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '4278',
			'article_category_id' => '1',
			'title' => 'Major Welfare Funds Willing to Invest on Hydro',
			'sub_title' => '',
			'summary' => 'August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. “We are capable to invest up to Rs 89 billion on the country',
			'content' => '<p style="text-align: justify;">August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. &ldquo;We are capable to invest up to Rs 89 billion on the country&rsquo;s hydropower sector,&rdquo; stated the funds collectively. The funds have committed to invest in the sector given that the government brings any solid policy to back their investment.</p>

<p style="text-align: justify;">The funds including Employees Provident Fund (EPF), Citizens Investment Trust (CIT), Rastriya Bema Sanstha and Nepal Telecom expressed their commitment before Minister of Energy, Dinanath Sharma. In the discussion program held on August 26, EPF committed to investment Rs 32 billion in the hydropower sector.&nbsp;&nbsp; Apart of this, it also mentioned of finalising agreement with various projects in order to invest Rs 35 billion. Similarly, CIT is willing to invest Rs 21 billion whereas NT, Hydropower Investment and Development Company and Nepal Army Welfare Fund are willing to invest Rs 10 billion each. Likewise, Rastriya Beema Sanstha and Nepal Police Welfare Fund are willing to invest Rs 5 billion and 600 million respectively.</p>

<p style="text-align: justify;">The funds expressed their desire to invest in the country&rsquo;s hydropower sector, if the government brings a clear policy. According to the funds, they can invest additional Rs 54 billion annually in the sector.&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4111',
			'image' => '20160828035646_hydro.JPG',
			'article_date' => '2016-08-28 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '4277',
			'article_category_id' => '1',
			'title' => 'Profit of Life Insurance Companies Decline',
			'sub_title' => '',
			'summary' => 'August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous FY.',
			'content' => '<p style="text-align: justify;">August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous FY.</p>

<p style="text-align: justify;">The decline in the profit of the life insurance companies is attributed to the major losses caused by the devastating earthquake of last year. According to the published annual financial reports, Nepal Life Insurance has earned the highest profit in the last FY. However, the profit earned by the company has decreased by 54.40 percent to Rs 240.5 million. Similarly, Gurans Life Insurance has logged the highest profit increase in percentage term despite of lower total amount. &nbsp;The profit of Gurans Life has increased by 136.86 percent during the last FY.</p>

<p style="text-align: justify;">According to the numbers of insurance policies issued, Nepal Life Insurance has issued the maximum number of insurance policies. The number of policies has increased to 1.24 million during the last FY. The company has earned the highest amount of insurance premiums as well. It has earned Rs 7.06 billon insurance policies by the end of the last FY.</p>

<p style="text-align: justify;">Likewise, Prime Insurance has the highest reserve fund among the insurance companies. The company has increased its reserve fund by 37 percent to Rs 685 million in the last FY from Rs 496.5 million in the previous FY.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4110',
			'image' => '20160828021324_insurance companies.JPG',
			'article_date' => '2016-08-28 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '4276',
			'article_category_id' => '1',
			'title' => 'Asian Life Upgrades Two Sub-Branches',
			'sub_title' => '',
			'summary' => 'August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd branch.',
			'content' => '<p>August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd branch.</p>

<p><br />
Dinesh Lal Shrestha, Director of the company inaugurated branch office of Lalitpur and Rajesh Kumar Shrestha, CEO of the company inaugurated the branch at Tikapur.&nbsp;</p>

<p><br />
The company is providing its services through 23 branches and 72 sub-branches across the country. The company informed of opening more branches and sub-branches in near future in order to provide effective customers services.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4109',
			'image' => '20160828012321_asian life.jpg',
			'article_date' => '2016-08-28 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 12 => array(
		'Article' => array(
			'id' => '4275',
			'article_category_id' => '1',
			'title' => 'Agreement between Siddhartha Insurance and Health Concern',
			'sub_title' => '',
			'summary' => 'August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager o',
			'content' => '<p style="text-align:justify">August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager of Siddhartha Insurance and Dr Subash Pyakurel, CEO of Health Concern signed the agreement paper on this regard. According to Chhetri, the agreement was carried out in a bid to support the public who are deprived from health facilities by including them in insurance program. CEO of Health Concern, Pyakurel claimed that the health insurance sector will be successful in Nepal as in the developed countries.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4108',
			'image' => '20160828010326_health concern.jpg',
			'article_date' => '2016-08-28 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 13 => array(
		'Article' => array(
			'id' => '4274',
			'article_category_id' => '1',
			'title' => 'Contractors' Meet of Siddhartha Cement',
			'sub_title' => '',
			'summary' => 'August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal, Act',
			'content' => '<p style="text-align:justify">August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal, Acting Director of the company expressed&nbsp;his gratitude to all entrepreneurs for selecting Sidhhartha cement for the constructional works. In the program, Rahul Agrawal, Director of the company clarified about the products.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4107',
			'image' => '20160828125656_siddhartha cement.jpg',
			'article_date' => '2016-08-28 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 14 => array(
		'Article' => array(
			'id' => '4273',
			'article_category_id' => '1',
			'title' => 'Non-Performing Loans of Development Banks Shrink',
			'sub_title' => '',
			'summary' => 'August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the unaudite',
			'content' => '<p style="text-align: justify;">August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the unaudited fourth quarter financial reports of 54 development banks, non-performing loans have limited to 1.05 percent average. Experts opined that reduction in non-performing loans can be attributed to Nepal Rastra Bank&rsquo;s tighten loan management policy and improved performance of the banks.</p>

<p style="text-align: justify;">NRB (the Central Bank of Nepal), as a regulatory financial institution of the country, has classified the loan basically into the pass loan, sub-standard loan, doubtful loan and loss or bad loan. Pass loan is that type of loan whose interest or principal payments are less than three months in arrears. Sub-standard loans whose interest or principal payments are longer than three months in arrears of lending conditions are eased. Doubtful is liquidation of outstanding debts appearing uncertain and the accounts suggest that there will be a loss, the exact amount of which cannot be determined. Loss loans are regarded as not collectable, usually loans to firms which applied for legal resolution and protection under bankruptcy laws. Pass loans are under the category of performing loans whereas sub-standard loan, doubtful loan and loss loan are under the non-performing loans.</p>

<p style="text-align: justify;"><img alt="" src="/userfiles/images/data%201.JPG" style="height:305px; width:340px" /><img alt="" src="/userfiles/images/data%202.JPG" style="height:303px; width:340px" /></p>

<p style="text-align: justify;">Increase in non-performing loans is considered risky in banking sector. Therefore, NRB has directed banks and financial institutions (BFIs) to maintain such loans below 5 percent of total loans. After the NRB directive, Western Development Bank has succeeded to reduce its non-performing loans by 66.84 percent. The bank had 67 percent non-performing loans in the previous FY which has decreased to 0.16 percent during the last FY. Similarly, non-performing loans of Ace Development Bank has decreased to 1.51 percent in the last FY from 3.68 percent in the previous FY. Meanwhile, Sajha Bikash Bank has highest non-performing loans of 2.13 percent. The bank had 0.19 percent non-performing loans in the previous FY that has increased to 3.12 percent in the last FY.</p>

<p style="text-align: justify;">At the same time, 5 development banks have zero non-performing loans. The banks having zero non-performing loans are Bagmati, Cosmos, Kakrebihar, Manaslu and Pacific Development Bank. Similarly, 30 development banks have below 1 percent non-performing loans. &nbsp;</p>
',
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			'created' => '2016-08-28',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4106',
			'image' => '20160828123821_non-pef.jpg',
			'article_date' => '2016-08-28 00:00:00',
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	)
)
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

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		'Article' => array(
			'id' => '4287',
			'article_category_id' => '1',
			'title' => 'Government Revenue Up 19 %',
			'sub_title' => '',
			'summary' => 'August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY',
			'content' => '<p style="text-align:justify">August 29: Revenue Collection of the government has risen by 18.9 percent to Rs 482.75 billion in the last FY 2072/73. The government had collected Rs 405 billion revenue in the previous FY 2071/72 which was 13.7 percent more than the earlier previous FY. Similarly, the revenue/ gross production ratio has reached 21.5 percent in the last FY which was 19.1 percent in the previous FY.</p>

<p style="text-align:justify">According to the NRB statistics, value added tax that grew by 11.3 percent in the previous FY has grown by 8.6 percent to Rs 122.07 billion in the last FY. However, the contribution of VAT in total revenue has decreased to 25.3 percent in the last FY from 27.7 percent of the previous FY. Meanwhile, the contribution of income tax in the total revenue during the last FY has significantly increased by 32.4 percent to Rs 117.13 billion which is 24.3 percent of the total revenue, slightly less than the VAT.</p>

<p style="text-align:justify">As per the details, the government has collected Rs 82.81 billion revenue through customs charges. In the last FY, the vehicle charge has increased by 13.8 percent which was 52 percent in the previous FY.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4120',
			'image' => '20160829051813_government revenue.JPG',
			'article_date' => '2016-08-29 00:00:00',
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			'id' => '4286',
			'article_category_id' => '1',
			'title' => 'NBL to Introduce New Policy',
			'sub_title' => '',
			'summary' => 'August 29: Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). “NBL was unable to make new policy as CAR was less than 10 percent in previous years,” said Debendra Pratap Shah, CEO of NBL amid a press conference o',
			'content' => '<p style="text-align: justify;">August 29:&nbsp;Nepal Bank Limited (NBL) is preparing to move forward with new policies after meeting the capital adequacy ratio (CAR) set by Nepal Rastra Bank (NRB). &ldquo;NBL was unable to make new policy as CAR was less than 10 percent in previous years,&rdquo; said Debendra Pratap Shah, CEO of NBL amid a press conference on August 28. According to him, after reaching CAR to 11.41 percent on mid-July this year, the bank can now open new branches and subsidiary companies along with make investment in the secondary market.</p>

<p style="text-align: justify;">In the FY 2071/2072, NBL earned net profit of Rs 3.1 billion. Out of the net profit, Rs 1.14 billion came from sales of properties and Rs 1.86 billion from other transactions. Apart from significant increase in the operating profit, the reserve fund of the bank that was negative since the last three decades was positive by Rs 380 million by the end of last FY.</p>

<p style="text-align: justify;">Currently, the paid up capital of NBL is Rs 6.46 billion. The bank is planning to meet the paid up capital of Rs 8 billion by issuing 23.73 percent right shares this year, as per Shah. However, the major share holder of the bank, Nepal government has not given any decision about purchasing the right shares, he added. According to him, the bank has an option of selling the right shares through auction bidding if the government decides not to invest in the right shares.</p>

<p style="text-align: justify;">If the right shares are sold through auction bidding, the government ownership in the bank will of 50.28 percent only. Currently, NBL has 62.21 percent government ownership and 37.79 percent of public ownership. &ldquo;If government ownership decreases, it will open door to bring foreign strategic partners,&rdquo; informed Shah. Previously, Nepal government had 38 percent ownership in NBL. However, the ownership reached 62 percent when the support of World Bank to NBL was converted into government ownership.</p>

<p style="text-align: justify;">Recently, NBL has started operation of Pumori-4 banking system. Similarly, it has built required infrastructure to start smart banking system. The bank has obtained NRB approval regarding implementation of the system. &nbsp;Likewise, the bank has finalised an agreement with Sajha Yatatyat to provide E-ticket to the passengers that will be started soon, informed Shah. If the plan gets work out, it will be the first incident in Nepal where passengers can pay bus fair with a smart card.</p>
',
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			'created' => '2016-08-29',
			'modified' => '2016-08-29',
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			'description' => '',
			'sortorder' => '4119',
			'image' => '20160829034103_nbl.JPG',
			'article_date' => '2016-08-29 00:00:00',
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		'Article' => array(
			'id' => '4285',
			'article_category_id' => '1',
			'title' => 'Yeti Bank’s Banking Literacy Program for Women',
			'sub_title' => '',
			'summary' => 'August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in ',
			'content' => '<p>August 29: Yeti Development Bank has organised a banking literacy program targeting women on the occasion of the Teej Program. The bank organizes a workshop on microfinance and financial security in Palung branch on Saturday, August 27.</p>

<p>The program was participated by nearly 500 women engaged in agriculture, livestock farming and household business.</p>

<p>Deepanjali Khakurel, Head of Corporate Social Responsibility Department and Him Raj Dawadi gave training on financial literacy along with introduction, importance and benefits of microfinance to the participants during the program. The program also held discussion on women&#39;s access to ATM cards and mobile banking.</p>

<p>&nbsp;</p>
',
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			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4118',
			'image' => '20160829012503_yeti.jpg',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '4284',
			'article_category_id' => '1',
			'title' => 'Global IME’s Auto Loan for Suzuki Vehicles',
			'sub_title' => '',
			'summary' => 'August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj ',
			'content' => '<p style="text-align: justify;">August 29: Global IME Bank has signed an agreement to provide auto loan with Arun Continental Traders in a program organized on August 28. During the program, Surendra Raj Regmi Chief Manager (SME and retail banking) of the bank and Manish Kumar Jain General Manager of Arun Continental signed on the agreement representing their respective company.</p>

<p style="text-align: justify;">As per the agreement, the bank will provide loans for purchasing Suzuki brand private and commercial vehicle by charging reasonable interest rate. The bank will provide loans up to 80 percent for the maximum period of 7 years.&nbsp; The agreement has been conducted in order to provide easy auto loan to its customers, informed the bank in a press statement. Presently, it is providing its services through 91 branches, 6 extension counters, 102 ATMs and 42 branchless banking services across the country.</p>
',
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			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4117',
			'image' => '20160829011221_ime.jpg',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '4283',
			'article_category_id' => '1',
			'title' => 'Intex 3G Smartphone in the Market',
			'sub_title' => '',
			'summary' => 'August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera ha',
			'content' => '<p style="text-align: justify;">August 29: Intex Technologies, the Indian smart phone company has launched its new smart phone in the Nepali market. According to the company, the new smartphone has long battery life and backup with a light sensor. The new smartphone which comes with five megapixels rear camera and two megapixels front camera has 1 GB RAM and 8 GB ROM.</p>

<p style="text-align: justify;">The new product supporting 3G network service has 1.3 GHz Quadcore processor with android Marshmallow 6.0 version. The smartphone featuring five inches display comes with one year warranty as well. The handset is priced at Rs 8,199 in the Nepali market.&nbsp;</p>
',
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			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4116',
			'image' => '20160829121854_intex.JPG',
			'article_date' => '2016-08-29 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '4282',
			'article_category_id' => '1',
			'title' => 'New BF Dear Hill Shoes in the Market',
			'sub_title' => '',
			'summary' => 'August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival Dashain-Ti',
			'content' => '<p style="text-align:justify">August 29: BF Dear Hill, the manufacturer and seller of Nepali leather shoes has launched more than 50 new and attractive models of shoes in the market aiming the upcoming festival Dashain-Tihar. According to the company, sports shoes and leather belt are two major attractions product line this year.&nbsp;</p>

<p style="text-align:justify">&ldquo;Youth targeted new models of shoes are very attractive and suitable to individuals of every level,&rdquo; said Homnath Upadhyaya, Managing Director of the company. &nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4115',
			'image' => '20160829115934_dear hill.jpg',
			'article_date' => '2016-08-29 00:00:00',
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		'Article' => array(
			'id' => '4281',
			'article_category_id' => '1',
			'title' => 'Kia Motors' New Showroom in Tinkune',
			'sub_title' => '',
			'summary' => 'August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be handle',
			'content' => '<p style="text-align:justify">August 29: Kia Motors has opened its new showroom in Tinkune, Kathmandu. The new showroom is inaugurated by Suhrid Ghimire, Chairman of Continental Group. The management of the showroom will be handled by Universal Moto Corp, the authorised distributor of Continental Associates.&nbsp;</p>

<p style="text-align:justify"><br />
According to the company, the new showroom occupying 3,000 square feet space will provide comfortable environment to its customers. The company is distributing four-wheelers including Picanto, Rio, Soul, Sportage, Sorento and Grand Carnival in the Nepali market. The company informs that it has been providing 3S facility such as sales, service and spear parts in the major cities of the country.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4114',
			'image' => '20160829114435_kia.jpg',
			'article_date' => '2016-08-29 00:00:00',
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		'Article' => array(
			'id' => '4280',
			'article_category_id' => '1',
			'title' => 'NMB Opens 3 New Branches',
			'sub_title' => '',
			'summary' => 'August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated the',
			'content' => '<p style="text-align: justify;">August 29: NMB Bank has started operation of three new branches in Palpa, Bhairahawa and Damak. Chiranjibi Nepal, Governor of Nepal Rastra Bank (NRB) inaugurated the Palpa and Bhairahawa branches amid separate programs. Speaking on the occasion, Governor Nepal said that the Nepali banks needs to increase investment in agricultural sector of the country. &ldquo;We are dependent on India for a smallest thing. Now the banks need to provide subsidised loans to farmers in order to support them to pursue commercial livestock and agricultural farming,&rdquo; he added.</p>

<p style="text-align: justify;">Meanwhile, Nanda Kishore Rathi, Director of the bank and Ramu Paudyal, NRB&rsquo;s Regional Director inaugurated the Damak branch. With the addition of the three new branches, the bank now has 71 branches, 50 ATMs and seven extension counters.</p>
',
			'published' => true,
			'created' => '2016-08-29',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4113',
			'image' => '20160829110222_nmb.jpg',
			'article_date' => '2016-08-29 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '4279',
			'article_category_id' => '1',
			'title' => 'Decline in Revenue from Service Export ',
			'sub_title' => '',
			'summary' => 'August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank (NRB',
			'content' => '<p style="text-align: justify;">August 28: In the fiscal year (FY) 2072/73, the net revenue from the export of services has dropped by 3.65 percent. As per the report published by Nepal Rastra Bank (NRB), during the period the total revenue from export of service had decreased by 7.2 percent while the total service expenditure had increased by 5.7 percent that resulted to high decline rate in income from the export of service.</p>

<p style="text-align: justify;"><br />
In the last FY, income from service export was negatively affected because of the decrease in the income from tourism sector due to the last year&#39;s devastating earthquake, long political instability and undeclared border blockade. &nbsp;Although, the net service revenue declined, the overall BOP surplus has increased by Rs 46 billion to Rs 100.91 billion.&nbsp;</p>

<p style="text-align: justify;"><br />
In the FY 2071/72, the net service income had increased by 19.4 percent to Rs 27.61 billion. However, in the last FY, it declined by around 50 percent to Rs 9.84 billion as per the Overall Economic and Financial Situation report of NRB.&nbsp;</p>

<p style="text-align: justify;"><br />
Although such revenue received from foreigners has decrease, expenses of Nepalis in the foreign tourism have increased by 6.1 percent. It has lead to the negative growth rate in the net revenue. &nbsp;</p>

<p style="text-align: justify;"><br />
The tourism revenue which was increased by 15.2 percent in the previous year has decreased by 21.8 percent in the last year. However, the report mentioned that the tourism expenditure has increased by 6.1 percent. Moreover, the expenditure on foreign education has increased by 18 percent in the last FY which had increased by 12.9 percent in the previous year. According to the NRB, the increased in outflow of service expenditure than the inflow of service revenue has caused the decline in the overall service export revenue of the country.</p>

<p style="text-align: justify;"><br />
Another reason for the decrease in the service income is due to the decline in the remittance growth rate. As per the NRB, the growth rate of remittance has declined by 50 percent in the last FY. During the last FY, the growth rate of remittance was 7.77 percent which was 13.6 percent in the previous FY.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4112',
			'image' => '20160828045811_bop[.JPG',
			'article_date' => '2016-08-28 00:00:00',
			'homepage' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '4278',
			'article_category_id' => '1',
			'title' => 'Major Welfare Funds Willing to Invest on Hydro',
			'sub_title' => '',
			'summary' => 'August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. “We are capable to invest up to Rs 89 billion on the country',
			'content' => '<p style="text-align: justify;">August 28: Major funds operating in the country have shown their desire to invest on hydro power sector of the nation. &ldquo;We are capable to invest up to Rs 89 billion on the country&rsquo;s hydropower sector,&rdquo; stated the funds collectively. The funds have committed to invest in the sector given that the government brings any solid policy to back their investment.</p>

<p style="text-align: justify;">The funds including Employees Provident Fund (EPF), Citizens Investment Trust (CIT), Rastriya Bema Sanstha and Nepal Telecom expressed their commitment before Minister of Energy, Dinanath Sharma. In the discussion program held on August 26, EPF committed to investment Rs 32 billion in the hydropower sector.&nbsp;&nbsp; Apart of this, it also mentioned of finalising agreement with various projects in order to invest Rs 35 billion. Similarly, CIT is willing to invest Rs 21 billion whereas NT, Hydropower Investment and Development Company and Nepal Army Welfare Fund are willing to invest Rs 10 billion each. Likewise, Rastriya Beema Sanstha and Nepal Police Welfare Fund are willing to invest Rs 5 billion and 600 million respectively.</p>

<p style="text-align: justify;">The funds expressed their desire to invest in the country&rsquo;s hydropower sector, if the government brings a clear policy. According to the funds, they can invest additional Rs 54 billion annually in the sector.&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4111',
			'image' => '20160828035646_hydro.JPG',
			'article_date' => '2016-08-28 00:00:00',
			'homepage' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '4277',
			'article_category_id' => '1',
			'title' => 'Profit of Life Insurance Companies Decline',
			'sub_title' => '',
			'summary' => 'August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous FY.',
			'content' => '<p style="text-align: justify;">August 28: Profit of life insurance companies has declined in the last FY compared to the previous FY as per the annual financial reports published by the companies. The profit of life insurance companies has declined by 33.45 percent to Rs 727.8 million in the last FY which was Rs 1.09 billion in the previous FY.</p>

<p style="text-align: justify;">The decline in the profit of the life insurance companies is attributed to the major losses caused by the devastating earthquake of last year. According to the published annual financial reports, Nepal Life Insurance has earned the highest profit in the last FY. However, the profit earned by the company has decreased by 54.40 percent to Rs 240.5 million. Similarly, Gurans Life Insurance has logged the highest profit increase in percentage term despite of lower total amount. &nbsp;The profit of Gurans Life has increased by 136.86 percent during the last FY.</p>

<p style="text-align: justify;">According to the numbers of insurance policies issued, Nepal Life Insurance has issued the maximum number of insurance policies. The number of policies has increased to 1.24 million during the last FY. The company has earned the highest amount of insurance premiums as well. It has earned Rs 7.06 billon insurance policies by the end of the last FY.</p>

<p style="text-align: justify;">Likewise, Prime Insurance has the highest reserve fund among the insurance companies. The company has increased its reserve fund by 37 percent to Rs 685 million in the last FY from Rs 496.5 million in the previous FY.&nbsp;</p>
',
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			'created' => '2016-08-28',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4110',
			'image' => '20160828021324_insurance companies.JPG',
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	(int) 11 => array(
		'Article' => array(
			'id' => '4276',
			'article_category_id' => '1',
			'title' => 'Asian Life Upgrades Two Sub-Branches',
			'sub_title' => '',
			'summary' => 'August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd branch.',
			'content' => '<p>August 28: Asian Life Insurance Company has upgraded its two sub-branches to branches aiming to provide convenient services to the customers. The company has upgraded its sub-branch located in Lalitpur as 23rd branch and sub-branch of Tikapur, Kailali as its 22nd branch.</p>

<p><br />
Dinesh Lal Shrestha, Director of the company inaugurated branch office of Lalitpur and Rajesh Kumar Shrestha, CEO of the company inaugurated the branch at Tikapur.&nbsp;</p>

<p><br />
The company is providing its services through 23 branches and 72 sub-branches across the country. The company informed of opening more branches and sub-branches in near future in order to provide effective customers services.&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 12 => array(
		'Article' => array(
			'id' => '4275',
			'article_category_id' => '1',
			'title' => 'Agreement between Siddhartha Insurance and Health Concern',
			'sub_title' => '',
			'summary' => 'August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager o',
			'content' => '<p style="text-align:justify">August 28: Siddhartha Insurance has entered to an agreement with Health Concern for the promotion of health insurance. Birendra Baidawar Chhetri, Acting General Manager of Siddhartha Insurance and Dr Subash Pyakurel, CEO of Health Concern signed the agreement paper on this regard. According to Chhetri, the agreement was carried out in a bid to support the public who are deprived from health facilities by including them in insurance program. CEO of Health Concern, Pyakurel claimed that the health insurance sector will be successful in Nepal as in the developed countries.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-08-28',
			'modified' => '2016-08-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4108',
			'image' => '20160828010326_health concern.jpg',
			'article_date' => '2016-08-28 00:00:00',
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			'id' => '4274',
			'article_category_id' => '1',
			'title' => 'Contractors' Meet of Siddhartha Cement',
			'sub_title' => '',
			'summary' => 'August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal, Act',
			'content' => '<p style="text-align:justify">August 28: Siddhartha Cement Industries has organised a meeting program with contractors in Soaltee Crowne Plaza on August 24. In the program, Jagadish Agrawal, Acting Director of the company expressed&nbsp;his gratitude to all entrepreneurs for selecting Sidhhartha cement for the constructional works. In the program, Rahul Agrawal, Director of the company clarified about the products.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-08-28',
			'modified' => '2016-08-29',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4107',
			'image' => '20160828125656_siddhartha cement.jpg',
			'article_date' => '2016-08-28 00:00:00',
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		'Article' => array(
			'id' => '4273',
			'article_category_id' => '1',
			'title' => 'Non-Performing Loans of Development Banks Shrink',
			'sub_title' => '',
			'summary' => 'August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the unaudite',
			'content' => '<p style="text-align: justify;">August 28: Non-performing loans of development Banks are apparently decreasing in recent times. It is indicated by the annual financial reports of 54 operating development banks in the last FY. During the last FY, non-performing loans of development banks have decreased by 1.82 percent average. According to the unaudited fourth quarter financial reports of 54 development banks, non-performing loans have limited to 1.05 percent average. Experts opined that reduction in non-performing loans can be attributed to Nepal Rastra Bank&rsquo;s tighten loan management policy and improved performance of the banks.</p>

<p style="text-align: justify;">NRB (the Central Bank of Nepal), as a regulatory financial institution of the country, has classified the loan basically into the pass loan, sub-standard loan, doubtful loan and loss or bad loan. Pass loan is that type of loan whose interest or principal payments are less than three months in arrears. Sub-standard loans whose interest or principal payments are longer than three months in arrears of lending conditions are eased. Doubtful is liquidation of outstanding debts appearing uncertain and the accounts suggest that there will be a loss, the exact amount of which cannot be determined. Loss loans are regarded as not collectable, usually loans to firms which applied for legal resolution and protection under bankruptcy laws. Pass loans are under the category of performing loans whereas sub-standard loan, doubtful loan and loss loan are under the non-performing loans.</p>

<p style="text-align: justify;"><img alt="" src="/userfiles/images/data%201.JPG" style="height:305px; width:340px" /><img alt="" src="/userfiles/images/data%202.JPG" style="height:303px; width:340px" /></p>

<p style="text-align: justify;">Increase in non-performing loans is considered risky in banking sector. Therefore, NRB has directed banks and financial institutions (BFIs) to maintain such loans below 5 percent of total loans. After the NRB directive, Western Development Bank has succeeded to reduce its non-performing loans by 66.84 percent. The bank had 67 percent non-performing loans in the previous FY which has decreased to 0.16 percent during the last FY. Similarly, non-performing loans of Ace Development Bank has decreased to 1.51 percent in the last FY from 3.68 percent in the previous FY. Meanwhile, Sajha Bikash Bank has highest non-performing loans of 2.13 percent. The bank had 0.19 percent non-performing loans in the previous FY that has increased to 3.12 percent in the last FY.</p>

<p style="text-align: justify;">At the same time, 5 development banks have zero non-performing loans. The banks having zero non-performing loans are Bagmati, Cosmos, Kakrebihar, Manaslu and Pacific Development Bank. Similarly, 30 development banks have below 1 percent non-performing loans. &nbsp;</p>
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00