March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees…
…
March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees…
Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on…
March 17: It has been more than three months since the ban on vehicle import was lifted.…
Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on…
March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative…
March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless…
March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday.…
March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well.…
March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and…
March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from…
Two consecutive earthquakes struck Baitadi on Thursday…
March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on…
March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup…
March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17305', 'article_category_id' => '1', 'title' => 'Farmers Unable to Sell Paddy to FMTCL due to Lack of Bank Accounts', 'sub_title' => '964 Quintals of Paddy Purchased in 8 Months', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 19: Farmers in the terai region are unable to sell paddy to the government because they need bank account to be eligible to sell their produce.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition to that, they are also required to show land ownership certificate of at least one bigha and 10 kathhas (1 hectare approx.) of land in order to sell paddy to the state-owned Food Management and Trading Company Limited.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ram Pukar Mandal, information officer of Janakpur-based regional office of the Food Management and Trading Company Limited (FMTCL), says that most of the farmers are not able to sell rice to the company because they cultivate rice on other people's land.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The farmers could not complete the process to sell rice,” said Mandal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The regional office of the (FMTCL), Janakpurdham has not been able to purchase paddy as per the target in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the target is to purchase 15,000 quintals of paddy in the current fiscal year, the company has purchased only 964.25 quintals of paddy till mid-March. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information Officer Ram Pukar Mandal said that in the current fiscal year, paddy worth Rs 3,016,174 will be purchased. He also admitted that the FMTCL could not be purchase paddy this year as per the target.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mandal argued that because of the decision of Agriculture Knowledge Center that at least 10 quintals of paddy should be bought per farmer, the paddy produced by lower-class farmers could not be bought. He said that farmers were unable to come to sell rice to the company because of the procedural hurdles.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17043', 'image' => '20230319104530_paddyyy-transformed.jpeg', 'article_date' => '2023-03-19 10:44:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17303', 'article_category_id' => '1', 'title' => 'BFIs Demand Stringent Action against Attackers', 'sub_title' => '', 'summary' => 'March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees lately.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees lately.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the employees of the BFIs were attacked one after another, Nepal Bankers Association, Development Bankers Association Nepal, Nepal Financial Institution Association issued a joint statement today and demanded the authorities to take stringent action against the culprits. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The statement reads, "We strongly condemn the recent incidents of threatening, indecent behaviors and brutal attacks on the employees of the banks and financial institutions."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Furthermore, it says, "We strongly object to the physical attacks, indecent behaviors and brutal assault on the employees in Jajarkot, Mawakanpur, Myagdi, Sunsari, Udayapur, Kapilbastu, Rupandehi, Kaski and other districts. We demand stringent action against the culprits."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">These institutions have jointly called for booking those involved in instigating such types of incidents and making statements that incite anarchy and violence.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The press release states that the banking services cannot be operated until such incidents are stopped and the security of employees is guaranteed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The representatives of BFIs argued that the employees have become terrorized and worried after the attack on the banking sector which falls under the essential service and sensitive sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the organizations, the morale of the entire banking sector would decrease if such incidents go up and it will also jeopardize the economy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"Such activities will not be in the best interest of anyone. They will instead create an unfavorable environment, will disturb the social harmony and will also have a negative impact on economic activities, ultimately leading to the possibility of the economy itself crashing down. So, we urge all sides concerned to be conscious of this fact. We call upon the state bodies concerned to timely check these sorts of anarchic activities of taking the law into one's hand," reads the joint press release.</span></span></span></span> -- RSS</p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17041', 'image' => '20230317084454_20230110012110_Banks.jpg', 'article_date' => '2023-03-17 20:43:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17302', 'article_category_id' => '1', 'title' => 'JSP leader Yadav elected Vice-President', 'sub_title' => '', 'summary' => 'Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">March 17: Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on Friday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">In the voting held on Friday, Yadav won the post of the Vice-president by defeating Astalaxmi Shakya of CPN (UML) and Mamata Jha of the Janamat Party. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The three were in the race for the Vice-Presidential election. Yadav had received support from the Nepali Congress, CPN (Maoist Centre), the CPN (Unified Socialist) including the ruling alliance in the election for the third Vice –President. Yadav has garnered 30,328 weighted votes. He received votes of 184 federal and 329 provincial lawmakers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The voting that had begun at 10:00 am today concluded 3:00 pm and a total of 311 federal lawmakers and 518 Provincial Assembly members took part in the voting. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The number of voters was 332 from the Federal Parliament and 550 from the Province level in the Vice-President's election. The voting weightage of a Federal Parliament member is 79 followed by 48 of a PA member. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The polling centre for the election was set up at the New Baneshwor-based Federal Parliament Building. According to the Constitution, the functions to be performed by the President shall be performed by the Vice-president during the absence of the President and the term of the Vice President is five years from the date which he or she is elected. ---</span>RSS </span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17040', 'image' => '20230317062047_collage (27).jpg', 'article_date' => '2023-03-17 18:18:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17300', 'article_category_id' => '1', 'title' => 'Automobile Dealers Struggling to Import Vehicles and Spare Parts', 'sub_title' => '', 'summary' => 'March 17: It has been more than three months since the ban on vehicle import was lifted. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 17: It has been more than three months since the ban on vehicle import was lifted. However, the auto businessmen have been struggling to import spare parts, forget about vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the policy of Nepal Rastra Bank, even though the import ban has been lifted, the businessmen say that they have not been able to import vehicles as well as spare parts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the monthly report published by the central bank on Sunday, the import of vehicles and spare parts decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the seven months of the current fiscal year compared to the corresponding period of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the seven months of the last fiscal year (FY 2021/22) vehicles and spare parts worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">86.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were imported into the country. In the current fiscal year (FY 2022/23), the import decreased by about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and stood at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.20 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal had banned the import of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">luxury items such as cars, jeeps, vans, motorcycles above </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> cc, alcohol among others during last summer due to the decline in foreign exchange reserves. Although the import, which was closed for eight months, was opened from December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">6, vehicles and their spare parts have not been imported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The general secretary of NADA Automobiles Dealers Association, Surendra Upreti, says that because the banks do not finance the purchase of vehicles and the interest rate has increased, the vehicles have not been imported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We businessmen have now reached a situation where we have to close our dealership. Now, we are not in a position to bring vehicles as well as their spare parts," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Upreti says that the entire auto business has collapsed due to the inability to import vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Dhruba Thapa, president of NADA Automobiles Dealers Association, says that due to the policy adopted by the central bank, they were not able to bring vehicles because banks did not invest in this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa claims that the state has also lost billions of rupees in revenue due to the inability of businessmen to bring vehicles as well as vehicle spare parts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of our vehicles are purchased through the bank," says Thapa, "But due to the central bank's policy of increasing LC margin to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, risk weight from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent down-payment of cash for vehicle purchases, banks have not invested in vehicles at the moment."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa says that if the central bank does not adopt some flexibility in the current policies and revises the policies such as risk load, LC, etc., there will be a big crisis in the automobile business in the near future.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17039', 'image' => '20230317025100_nada.jpg', 'article_date' => '2023-03-17 14:50:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17301', 'article_category_id' => '1', 'title' => 'Share Investors Protesting In Front Of NEPSE Office Arrested', 'sub_title' => '', 'summary' => 'Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on Friday. ', 'content' => '<p><br /> <span style="font-size:18px">March 17: Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on Friday. </span></p> <p><span style="font-size:18px">A group of investors had reached the NEPSE building to picket it, demanding implementation of the recommendation report on capital market prepared by the taskforce coordinated by Shivaraj Shrestha, erstwhile Deputy Governor the Nepal Rastra Bank. </span></p> <p><span style="font-size:18px">According to Police Inspector Deependra Shrestha at the Police Circle, Anamnagar, police held three stock investors who staged the sit-in protest in the prohibited area of the NEPSE building. </span></p> <p><span style="font-size:18px">The arrested are Tilak Koirala, Nayan Bastola and Arjun Koirala. Although NEPSE's company secretary Murahari Parajuli urged the protesting investors to attend a discussion meeting with him and other NEPSE authorities, the investors insisted that they will only talk to the NEPSE Chairperson and continued with their sit-in protest in restricted area.</span></p> <p><span style="font-size:18px"> Arrested investor Tilak Koirala informed that they were in the NEPSE building to demand implementation of the 58-point recommendation furnished by the report. “We staged the sit-in to press the concerned authorities for the report's execution," Koirala said. </span></p> <p><span style="font-size:18px">Fifty-eight-point report was prepared some five years ago and it had recommended the government policy reforms and structural reforms needed to end volatility in the capital market and reform financial sector. ----RSS </span><br /> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17038', 'image' => '20230317033649_collage (26).jpg', 'article_date' => '2023-03-17 15:32:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17299', 'article_category_id' => '1', 'title' => 'BRI needs Further Study, say Experts', 'sub_title' => '', 'summary' => 'March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative (BRI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative (BRI).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">They shared that after the concept of BRI was put forward by Chinese President Xi Jinping, there was no in-depth study about it in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bhojraj Paudel, policy reform advisor to South Asia Watch on Trade, Economics and Environment (SAWATEE) said that BRI is focused on security, energy and markets. However, he believes that Nepal can only benefit from the market facilities available by joining it. While choosing a plan for the market, he added, "Now we are talking about the Kathmandu-Kerung railway, but from an economic and practical point of view, it would be beneficial for us to make the Kodari route of four lanes."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to consultant Paudel, China claims that Pokhara International Airport is a plan under the BRI. The government of Nepal has given a slow response to this matter. He said that the government should also be clear about how BRI is progressing within Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Professor of International Relations and Diplomacy of Tribhuvan University, Khadak KC, said that BRI should be promoted by keeping the national interest on top priority. This project is necessary for Nepal. However, geopolitics should be taken into account during implementation, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rajan Sharma, the former chairman of the Transportation and Logistics Committee under the Federation of Nepal Chamber of Commerce and Industry, warned that the situation should not be allowed to lead to the dissatisfaction of the other neighbour when the project carried forward by one neighbour is implemented.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"When we build a structure together with China, there should not be a situation where India imposes a blockade. If that happens, it will be very unfortunate," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the political and administrative leadership expressed concern over the delay in the implementation of BRI and said that it should be implemented as soon as possible.Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha said that the Government of Nepal is committed to advancing BRI. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shrestha said that the government is determined to implement BRI. There has been some delay in the construction of the most important Kathmandu-Kerung railway, but it will go ahead. He said that it is misleading to say that Nepal will fall into a debt trap through BRI.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, former foreign minister and UML leader Pradip Gyawali discussed that the benefits of the current globalization are not shared equally and said that the participatory development concept of BRI is very positive. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Due to our slowness, lack of expertise and geopolitics, development could not happen as expected. We need to increase investment in development. For that, BRI can be a perfect partner," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Former Chief Secretary and Nepal's former Ambassador to China Lilamani Paudel said that BRI came forward based on the principle of Panchsheel. He added that the anti-China camp is spreading widespread propaganda against BRI, saying, "It is wrong to say that it is a debt trap of China."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He also said that the projects carried out by the World Bank and the International Monetary Fund are not in the interest of developing countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China's Ambassador to Nepal Chen Song said that the projects under BRI are being completed successfully in various places. According to the ambassador, Chinese investment is also coming into Nepal along with BRI, and Nepal can benefit more from it.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stakeholders made such remarks during the Nepal Experience programme organized on the occasion of the 10th anniversary of the BRI concept. The program was organized by Friends of Silk Road Club Nepal.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17037', 'image' => '20230317024914_1679016659.Clipboard06.jpg', 'article_date' => '2023-03-17 14:48:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17298', 'article_category_id' => '1', 'title' => 'How to get 'Cardless' Service to Withdraw Money without an ATM Card?', 'sub_title' => '', 'summary' => 'March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless service'.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless service'. This is a service that allows you to withdraw money from an ATM without an ATM card.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bank’s customers can now withdraw money from ATM machine even if they don't carry an ATM card. That means customers can now save Rs 500 annually that the banks charge for ATMs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Customers who have taken mobile banking service can avail the cardless service without paying any additional charges. For that, customers must be smart phone users.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This is an additional facility for customers using mobile banking services to withdraw money without a card or cheque. Before Covid-19, bank customers could withdraw money from their accounts only with ATM or by issuing a cheque.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">How to get cardless service?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To get the cardless service, first of all you need to get the mobile banking service. If you have the facility of mobile banking, you should select 'Cardless Withdraw' in the mobile app of the respective bank. Then you should mention the amount you want to withdraw multiplied by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. After that, if you click on withdraw, an OTP code will be sent to your registered mobile number. Then you have to start the process for cardless service by pressing the cardless withdrawal button on the ATM machine.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After choosing the language at the ATM, you have to enter your mobile number registered in mobile banking system and enter the amount you want to withdraw. This amount and the previous amount entered by the user in mobile banking should be the same.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After entering the previously received OTP on the mobile, the user can withdraw the money from the ATM without an ATM card.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For this transaction, the customer can withdraw a minimum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">at a time. Similarly, one can withdraw up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 in a day and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 in a month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">How many cardless service users are there in Nepal?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the outbreak of Covid-19 infection in Nepal, many people were afraid to withdraw money from ATMs. Niraj Sharma, head of the Retail Transaction Banking of Nabil Bank, said that Nepali banks realized the need for cardless ATMs in the country during the Covid-19 period and took the initiative to start cardless service. He said that the number of customers withdrawing money through this method is increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, money could be withdrawn only with the help of checques and ATMs. Even if someone forgets/loses the ATM or loses the ATM's PIN number, the customer should not have to worry about withdrawing money. Keeping in mind the increasing use of smartphones, the bank has combined the facility of withdrawing money from ATMs with mobile banking," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that cardless withdrawal was started when many people were afraid to go to ATMs due to the fear of Covid-19. He also informed that this service has been implemented in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">271</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ATMs of Nabil Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Advantages and disadvantages of cardless withdrawal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The cardless service helps customers get rid of the hassle of carrying an ATM card and also saves the annual renewal fee of the ATM. However, the cardless service is currently limited only within the channel of a particular bank. The drawback is that you have to reach your bank's ATM even if it is far away.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Not all commercial banks have the service while development banks have also started this service.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Kandel, a bank employee, said that there are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> cardless users of Sangrila Development Bank, which has started cardless ATM service since last April.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no charge for this. He said that this service is provided at the same fee as mobile banking service. Currently, this service can be availed only through the bank's own ATM network. However, bankers say that in the future, cardless service can also be provided through inter-bank ATMs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">History of cardless service in Nepal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunrise Bank started cardless ATM for the first time in Nepal during the Covid-19 period. Most of the banks that are operating now are providing this facility.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Cardless ATM service in Nepal is operated by Nepal Electronic Payment System (NCHL).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The number of mobile banking users is increasing in Nepal. The banks believe that with the increase in the number of mobile banking users, the number of cardless ATM users will also increase in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, in the last fiscal year (FY 2021/22), the number of mobile banking users in Nepal increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent compared to the previous year and reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17036', 'image' => '20230317022217_1678965744.Cardless.jpg', 'article_date' => '2023-03-17 14:21:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17296', 'article_category_id' => '1', 'title' => 'Value of US Dollar Continues to Rise', 'sub_title' => '', 'summary' => 'March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday. According to the central bank, the buying rate of 1 US dollar is Rs 132.08 and the selling rate is Rs 132.68 on Friday. On Thursday, the buying rate of 1 US dollar was set at Rs 131.86 and the selling rate was Rs 132.46.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The exchange rate set by the commercial banks is lower than the exchange rate set by the NRB. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The commercial banks have fixed the minimum purchase rate of USD 1 between Rs 130.86 to Rs 131.7. Among the 21 commercial banks, Standard Chartered Bank offers the lowest purchase rate of USD at Rs 130.86 while NIC Asia Bank and Kumari Bank have fixed the highest purchase rate at Rs 131.7.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Likewise, the minimum selling rate of USD 1 has been fixed between Rs 132.05 to Rs 132.35. Everest Bank offers the minimum selling rate for US dollars at Rs 132.05 while Nabil Bank, Nepal Investment Mega Bank, Prime Bank and NMB Bank have fixed the highest selling rate at Rs 132.35 per dollar.</span></span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17034', 'image' => '20230317013243_1679030197.jpg', 'article_date' => '2023-03-17 13:32:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17295', 'article_category_id' => '1', 'title' => 'Farmers Likely to Face Shortage of Fertilizer during Paddy Plantation Season', 'sub_title' => '', 'summary' => 'March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well. It is estimated that 90,000 metric tons of chemical fertilizers may be insufficient for the paddy crop during this year’s planting season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As the chemical fertilizers purchased from the budget of the current financal year did not arrive on time, it seems certain that there will be a shortage of fertilizers for the paddy crop.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Agriculture and Livestock Development said that there may be a shortage of fertilizers for major crops. About 100,000 metric tons of urea and 50,000 tons of DAP are needed from the time of planting paddy. After that, 60,000 tons of urea and 30,000 tons of DAP are required separately for top dressing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the spokesperson for the ministry, Prakash Kumar Sanjel, the government allocated Rs 31 billion for the purchase of fertilizer in the current financal year through the budget announcement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Arrangements were made to buy 331,500 tons of fertilizers, including 30,000 tons through the G2G process via Agricultural Inputs Company Limited and Salt Trading Corporation. Out of that, 237,500 tons of fertilizer have been imported and 94,000 tons still remaining. Sanjel said that due to this, there is a sign that there may be a shortage of fertilizer during the rice planting season. Currently, the Agricultural Inputs Company Limited has 52,000 tons of urea, 4,000 tons of DAP and 500 tons of potash. Another 20,000 tons of DAP is in the process of arrival to Nepal with 20,000 tons of urea in the pipeline for import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Salt Trading Corporation has 27,000 tons of urea and 18,000 tons of DAP. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajendra Bahadur Karki, head of the purchasing department of the Agricultural Inputs Company informed that all these fertilizers are enough only for the pre-monsoon paddy and maize crops, so more fertilizers are needed for the annual crops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As per him, if fertilizer is not brought according to last year's demand, it is certain that there will be shortage of fertilizer in May and June. He said, “However, if the stuck fertilizer can be brought on time and if the government can proceed with the purchase process of fertilizer on time even from the allocated budget of Rs 7.5 billion, it will avoid the shortage.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The shortage of</span></span> fertilizer has surfaced <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">because </span></span>the <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Salt Trading Corporation failed to bring 50,000 and 27,000 tons of urea and three t</span></span>enders of 20,000 tons of fertilizer from last year's budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17033', 'image' => '20230317121540_paddyyy-transformed.jpeg', 'article_date' => '2023-03-17 12:14:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17294', 'article_category_id' => '1', 'title' => '‘Not All Cooperatives are Problematic’', 'sub_title' => 'Campaigners of Cooperatives Call for Motivating Good Performers and Booking Wrongdoers ', 'summary' => 'March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and values.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and values.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As the cooperative started landing in trouble one after another in recent months due to the overall economic crisis, the campaigners urged the decision-makers not to consider all cooperatives as problematic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the wake of the recent crisis, the Ministry of Land Management, Cooperatives and Poverty Alleviation has made efforts to resolve the problems surfaced in savings and credit cooperative sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at a discussion organized on Wednesday on the issues related to cooperatives, Secretary Dr Damodar Regmi said that the government has already issued a directive to the Cooperative Solution Committee to make necessary arrangement for the embattled cooperatives to immediately return the savings of the depositors. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He informed that the committee has so far had the cooperatives return Rs 450 million to the depositors and is also investigating records of over 1,000 cooperatives. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Secretary Regmi further said that the Department of Cooperatives has made arrangements for returning the deposits to the clients. In this regard, the department has decided to hold the passports and freeze the bank accounts of the operators of problematic cooperative for working against the established norms and values. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Regmi also urged the office-bearers of the National Cooperatives Federation to help incentivize the cooperatives having good performance and book the wrongdoers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">National Cooperatives Federation Chair Minraj Kandel suggested to the district-based office-bearers not to motivate the cooperatives involved in wrongdoing and encourage the good performers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Cooperatives management committee chair Kashiraj Dahal drew the government's attention resolve the problems of the depositors. He also asked the government to impart a message that there was a mechanism to rescue the depositors in troubled times. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department's Registrar Namaraj Ghimire said that the government is actively engaged in bringing the faulty cooperatives to book. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the occasion, other speakers underlined the need for collective commitment to resolve the problems caused by the wrong actions of some operators. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17032', 'image' => '20230317111009_cooperative-new.jpg', 'article_date' => '2023-03-17 11:09:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17293', 'article_category_id' => '1', 'title' => 'Beni-Jomsom Road to be Closed for Six Hours a Day ', 'sub_title' => '', 'summary' => 'March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from Friday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Administration Office, Myagdi, the decision to halt the traffic was taken to carry out landslide prevention works along the Rupse Falls area in Annapurna Rural Municipality-3. Construction of a Bailey bridge and road widening works are also being carried out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Myagdi’s Assistant Chief District Officer, Dhirendra Raj Pant, said vehicular movement will not be allowed along the Rupse section from 6:00 am to 9:00 am and from 1:00 pm to 3:00 pm from March 17 to 28. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the road won't be closed for three days from March 20-23 in view of the Chaite Dashain festival as a large number of devotees are expected to visit Kagbeni to observe the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The administration is to come up with additional provisions for emergency vehicles and ambulances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17031', 'image' => '20230317104053_DhrubasagarSharma_Galeswor_RSS_07_-himalmunikalopatresadak.jpg', 'article_date' => '2023-03-17 10:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17292', 'article_category_id' => '1', 'title' => 'Two Consecutive Quakes Strike Baitadi', 'sub_title' => '', 'summary' => 'Two consecutive earthquakes struck Baitadi on Thursday night.', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">March 17: Two consecutive earthquakes struck Baitadi on Thursday night. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A quake measuring 3.2 on the Richter scale hit Baitadi at 6:25 pm followed by another tremor of 3.5 Richter scale at 6:26 pm on Thursday night.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to Seismological Center Surkhet’s technical assistant Tirthraj Dahal, the epicenter of both quakes is around Baitadi’s Sikharpur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Lately, the earthquake has been jolting Sudurpaschim Province with epicenters in different districts. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17030', 'image' => '20230317063117_collage (25).jpg', 'article_date' => '2023-03-17 06:30:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17290', 'article_category_id' => '1', 'title' => 'Britain to Grant Nepal 90 Million Pounds for Infrastructure Development', 'sub_title' => '', 'summary' => 'March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Toyam Raya and British Ambassador to Nepal Nicola Pollitt signed the agreement from their respective sides at a function held at the Ministry. The LISP programme is co-designed between the Government of Nepal and British Embassy Kathmandu. Up to 1.7 million Nepali citizens will directly receive more sustainable and inclusive infrastructure services as a result. The UK will provide up to 90 million pounds (Rs 14.4 billion) support for this work, according to a statement issued by the Finance Ministry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Importantly, the programme will support Government of Nepal to improve the delivery and sustainability of wider investments in local infrastructure, worth over 2 billion pounds (Rs 320 billion) over the next six years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking on the occasion, British Ambassador Pollitt said that the UK and Nepal have a long and proud history of collaboration in building, maintaining and reconstructing infrastructure. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“This has delivered significant results for the people of Nepal over the last six decades, for which we and the Government of Nepal are immensely proud. LISP is an important programme for both the Government of Nepal and the British Embassy Kathmandu, and another great example of our historic partnership", she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Finance Secretary Raya acknowledged the contribution and continuous support of the British Government for the social and economic development of Nepal since long. He also highlighted that this programme would support for the local level infrastructure and capacity building of local governments which will enhance the quality of public life in local levels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In addition, the Government of Nepal will also provide up to 40 million pounds (Rs 6.4 billion) co-financing to encourage local governments for sustainable and resilient infrastructure service delivery, according to the Ministry. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17028', 'image' => '20230316092702_KB-KTM-RE3A2854copy.jpg', 'article_date' => '2023-03-16 21:26:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17289', 'article_category_id' => '1', 'title' => 'Nepal Defeats UAE to Book a Place in WC Qualifiers ', 'sub_title' => '', 'summary' => 'March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup qualifiers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup qualifiers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chasing a mammoth target of 311 runs, Nepal scored 269 runs for six wickets in 44 overs, when the umpires stopped the game due to insufficient light following rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the UAE had scored 310 runs at the loss of 6 wickets in the stipulated 50 overs. Aasif Khan scored 101 runs in 42 runs, while Vriitya Aarvind and captain Mohammad Wasim contributed 94 and 67 runs respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">For Nepal, Bhim Karki scored 67 runs, Aarif Sheikh scored 52 runs while Kushal Bhurtel and Gulsan Jha contributed 50 runs each. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17027', 'image' => '20230316092222_NP_KTM_CRICKET.jpg', 'article_date' => '2023-03-16 21:21:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17287', 'article_category_id' => '1', 'title' => 'Unemployment Rising in Nepal, say Job Placement Companies', 'sub_title' => '', 'summary' => 'March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent months. Such companies, which collect the demand for employees from various organizations and companies and provide jobs to the aspirants, informed that the demand for new human resources has decreased significantly due to the economic crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kumari Job, which has been working in this field for a long time, claimed that the demand has decreased by 40 to 60 percent compared to the past. Kumari Job’s Managing Director Sandesh Bhandari said that due to the financial problems faced by the employers, the demand for employees is very low.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Managing Director Bhandari told New Business Age that their regular customers say there is no need to add new employees when their business has slowed down. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">In order to reduce the financial burden, some employers are also reducing their staff.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Bhandari, 500 to 800 people apply every day through Kumari Job's website, but only 15 to 20 people get jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Foxjob, another company which is active in the field of job placement, says that the demand for new employees has reduced. According to Bimal Kandel, managing director of Foxjob, the lowest demand is currently in the automobile sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"The demand for steel, cement and paint industries has also decreased," he said. He says that there was a sudden surge in demand for employees after the coronavirus pandemic but it has been continuously declining now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the job placement companies, although the employers are demanding low-level workers and employees, the demand for middle and high-level employees is negligible.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Contrary to this scenario, companies looking for employees in the information technology (IT) sector say that they are facing shortage of manpower. Jaidev Kalouni, managing director of Neko Job, said that it is difficult to get human resources as per their requirement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">“There is a high demand for manpower in the IT sector in Nepal. After the lockdown aimed at stopping the coronavirus, this demand has increased at a rapid rate. However, we lack skilled manpower," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Kalouni, skilled IT personnel in Nepal either go abroad or stay here and work for foreign companies. He says that even though most of those who apply for employment in Nepal have a university degree, they lack practical knowledge.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to government data, about 500,000 people enter Nepal's labor market every year. However, neither the private sector nor the government agencies have the data on how many jobs the private sector creates annually. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The National Planning Commissions member Ram Kumar Phuyal said that although such data is necessary, the government has not prepared it yet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Some of the people who are looking for employment lack higher education, while some have theoretical knowledge but do not have the ability to work when they enter the field.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Many have lost their jobs after the coronavirus pandemic and the Russia-Ukraine tension. The development of industry in the country is taking place at a snail’s and even those that exist are shutting down due to high interest rates and liquidity problem. In this situation, the aspiring job seekers have to either go to India or abroad for jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The number of people going abroad for employment also indicates that it is difficult to find employment in the country. It is mentioned in the latest report of Nepal Rastra Bank that more than 314,000 youth went abroad with work permit from last July to January in the current fiscal year. This means that around 1,500 labour force is going abroad for the first time with a labor permit. During this period, more than 167,000 Nepalese have renewed their labour permits. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17025', 'image' => '20230316044827_1678930256.13.jpg', 'article_date' => '2023-03-16 16:47:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17305', 'article_category_id' => '1', 'title' => 'Farmers Unable to Sell Paddy to FMTCL due to Lack of Bank Accounts', 'sub_title' => '964 Quintals of Paddy Purchased in 8 Months', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 19: Farmers in the terai region are unable to sell paddy to the government because they need bank account to be eligible to sell their produce.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition to that, they are also required to show land ownership certificate of at least one bigha and 10 kathhas (1 hectare approx.) of land in order to sell paddy to the state-owned Food Management and Trading Company Limited.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ram Pukar Mandal, information officer of Janakpur-based regional office of the Food Management and Trading Company Limited (FMTCL), says that most of the farmers are not able to sell rice to the company because they cultivate rice on other people's land.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The farmers could not complete the process to sell rice,” said Mandal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The regional office of the (FMTCL), Janakpurdham has not been able to purchase paddy as per the target in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the target is to purchase 15,000 quintals of paddy in the current fiscal year, the company has purchased only 964.25 quintals of paddy till mid-March. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information Officer Ram Pukar Mandal said that in the current fiscal year, paddy worth Rs 3,016,174 will be purchased. He also admitted that the FMTCL could not be purchase paddy this year as per the target.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mandal argued that because of the decision of Agriculture Knowledge Center that at least 10 quintals of paddy should be bought per farmer, the paddy produced by lower-class farmers could not be bought. He said that farmers were unable to come to sell rice to the company because of the procedural hurdles.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17043', 'image' => '20230319104530_paddyyy-transformed.jpeg', 'article_date' => '2023-03-19 10:44:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17303', 'article_category_id' => '1', 'title' => 'BFIs Demand Stringent Action against Attackers', 'sub_title' => '', 'summary' => 'March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees lately.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees lately.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the employees of the BFIs were attacked one after another, Nepal Bankers Association, Development Bankers Association Nepal, Nepal Financial Institution Association issued a joint statement today and demanded the authorities to take stringent action against the culprits. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The statement reads, "We strongly condemn the recent incidents of threatening, indecent behaviors and brutal attacks on the employees of the banks and financial institutions."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Furthermore, it says, "We strongly object to the physical attacks, indecent behaviors and brutal assault on the employees in Jajarkot, Mawakanpur, Myagdi, Sunsari, Udayapur, Kapilbastu, Rupandehi, Kaski and other districts. We demand stringent action against the culprits."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">These institutions have jointly called for booking those involved in instigating such types of incidents and making statements that incite anarchy and violence.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The press release states that the banking services cannot be operated until such incidents are stopped and the security of employees is guaranteed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The representatives of BFIs argued that the employees have become terrorized and worried after the attack on the banking sector which falls under the essential service and sensitive sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the organizations, the morale of the entire banking sector would decrease if such incidents go up and it will also jeopardize the economy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"Such activities will not be in the best interest of anyone. They will instead create an unfavorable environment, will disturb the social harmony and will also have a negative impact on economic activities, ultimately leading to the possibility of the economy itself crashing down. So, we urge all sides concerned to be conscious of this fact. We call upon the state bodies concerned to timely check these sorts of anarchic activities of taking the law into one's hand," reads the joint press release.</span></span></span></span> -- RSS</p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17041', 'image' => '20230317084454_20230110012110_Banks.jpg', 'article_date' => '2023-03-17 20:43:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17302', 'article_category_id' => '1', 'title' => 'JSP leader Yadav elected Vice-President', 'sub_title' => '', 'summary' => 'Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">March 17: Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on Friday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">In the voting held on Friday, Yadav won the post of the Vice-president by defeating Astalaxmi Shakya of CPN (UML) and Mamata Jha of the Janamat Party. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The three were in the race for the Vice-Presidential election. Yadav had received support from the Nepali Congress, CPN (Maoist Centre), the CPN (Unified Socialist) including the ruling alliance in the election for the third Vice –President. Yadav has garnered 30,328 weighted votes. He received votes of 184 federal and 329 provincial lawmakers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The voting that had begun at 10:00 am today concluded 3:00 pm and a total of 311 federal lawmakers and 518 Provincial Assembly members took part in the voting. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The number of voters was 332 from the Federal Parliament and 550 from the Province level in the Vice-President's election. The voting weightage of a Federal Parliament member is 79 followed by 48 of a PA member. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The polling centre for the election was set up at the New Baneshwor-based Federal Parliament Building. According to the Constitution, the functions to be performed by the President shall be performed by the Vice-president during the absence of the President and the term of the Vice President is five years from the date which he or she is elected. ---</span>RSS </span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17040', 'image' => '20230317062047_collage (27).jpg', 'article_date' => '2023-03-17 18:18:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17300', 'article_category_id' => '1', 'title' => 'Automobile Dealers Struggling to Import Vehicles and Spare Parts', 'sub_title' => '', 'summary' => 'March 17: It has been more than three months since the ban on vehicle import was lifted. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 17: It has been more than three months since the ban on vehicle import was lifted. However, the auto businessmen have been struggling to import spare parts, forget about vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the policy of Nepal Rastra Bank, even though the import ban has been lifted, the businessmen say that they have not been able to import vehicles as well as spare parts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the monthly report published by the central bank on Sunday, the import of vehicles and spare parts decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the seven months of the current fiscal year compared to the corresponding period of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the seven months of the last fiscal year (FY 2021/22) vehicles and spare parts worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">86.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were imported into the country. In the current fiscal year (FY 2022/23), the import decreased by about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and stood at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.20 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal had banned the import of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">luxury items such as cars, jeeps, vans, motorcycles above </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> cc, alcohol among others during last summer due to the decline in foreign exchange reserves. Although the import, which was closed for eight months, was opened from December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">6, vehicles and their spare parts have not been imported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The general secretary of NADA Automobiles Dealers Association, Surendra Upreti, says that because the banks do not finance the purchase of vehicles and the interest rate has increased, the vehicles have not been imported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We businessmen have now reached a situation where we have to close our dealership. Now, we are not in a position to bring vehicles as well as their spare parts," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Upreti says that the entire auto business has collapsed due to the inability to import vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Dhruba Thapa, president of NADA Automobiles Dealers Association, says that due to the policy adopted by the central bank, they were not able to bring vehicles because banks did not invest in this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa claims that the state has also lost billions of rupees in revenue due to the inability of businessmen to bring vehicles as well as vehicle spare parts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of our vehicles are purchased through the bank," says Thapa, "But due to the central bank's policy of increasing LC margin to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, risk weight from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent down-payment of cash for vehicle purchases, banks have not invested in vehicles at the moment."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa says that if the central bank does not adopt some flexibility in the current policies and revises the policies such as risk load, LC, etc., there will be a big crisis in the automobile business in the near future.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17039', 'image' => '20230317025100_nada.jpg', 'article_date' => '2023-03-17 14:50:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17301', 'article_category_id' => '1', 'title' => 'Share Investors Protesting In Front Of NEPSE Office Arrested', 'sub_title' => '', 'summary' => 'Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on Friday. ', 'content' => '<p><br /> <span style="font-size:18px">March 17: Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on Friday. </span></p> <p><span style="font-size:18px">A group of investors had reached the NEPSE building to picket it, demanding implementation of the recommendation report on capital market prepared by the taskforce coordinated by Shivaraj Shrestha, erstwhile Deputy Governor the Nepal Rastra Bank. </span></p> <p><span style="font-size:18px">According to Police Inspector Deependra Shrestha at the Police Circle, Anamnagar, police held three stock investors who staged the sit-in protest in the prohibited area of the NEPSE building. </span></p> <p><span style="font-size:18px">The arrested are Tilak Koirala, Nayan Bastola and Arjun Koirala. Although NEPSE's company secretary Murahari Parajuli urged the protesting investors to attend a discussion meeting with him and other NEPSE authorities, the investors insisted that they will only talk to the NEPSE Chairperson and continued with their sit-in protest in restricted area.</span></p> <p><span style="font-size:18px"> Arrested investor Tilak Koirala informed that they were in the NEPSE building to demand implementation of the 58-point recommendation furnished by the report. “We staged the sit-in to press the concerned authorities for the report's execution," Koirala said. </span></p> <p><span style="font-size:18px">Fifty-eight-point report was prepared some five years ago and it had recommended the government policy reforms and structural reforms needed to end volatility in the capital market and reform financial sector. ----RSS </span><br /> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17038', 'image' => '20230317033649_collage (26).jpg', 'article_date' => '2023-03-17 15:32:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17299', 'article_category_id' => '1', 'title' => 'BRI needs Further Study, say Experts', 'sub_title' => '', 'summary' => 'March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative (BRI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative (BRI).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">They shared that after the concept of BRI was put forward by Chinese President Xi Jinping, there was no in-depth study about it in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bhojraj Paudel, policy reform advisor to South Asia Watch on Trade, Economics and Environment (SAWATEE) said that BRI is focused on security, energy and markets. However, he believes that Nepal can only benefit from the market facilities available by joining it. While choosing a plan for the market, he added, "Now we are talking about the Kathmandu-Kerung railway, but from an economic and practical point of view, it would be beneficial for us to make the Kodari route of four lanes."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to consultant Paudel, China claims that Pokhara International Airport is a plan under the BRI. The government of Nepal has given a slow response to this matter. He said that the government should also be clear about how BRI is progressing within Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Professor of International Relations and Diplomacy of Tribhuvan University, Khadak KC, said that BRI should be promoted by keeping the national interest on top priority. This project is necessary for Nepal. However, geopolitics should be taken into account during implementation, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rajan Sharma, the former chairman of the Transportation and Logistics Committee under the Federation of Nepal Chamber of Commerce and Industry, warned that the situation should not be allowed to lead to the dissatisfaction of the other neighbour when the project carried forward by one neighbour is implemented.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"When we build a structure together with China, there should not be a situation where India imposes a blockade. If that happens, it will be very unfortunate," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the political and administrative leadership expressed concern over the delay in the implementation of BRI and said that it should be implemented as soon as possible.Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha said that the Government of Nepal is committed to advancing BRI. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shrestha said that the government is determined to implement BRI. There has been some delay in the construction of the most important Kathmandu-Kerung railway, but it will go ahead. He said that it is misleading to say that Nepal will fall into a debt trap through BRI.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, former foreign minister and UML leader Pradip Gyawali discussed that the benefits of the current globalization are not shared equally and said that the participatory development concept of BRI is very positive. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Due to our slowness, lack of expertise and geopolitics, development could not happen as expected. We need to increase investment in development. For that, BRI can be a perfect partner," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Former Chief Secretary and Nepal's former Ambassador to China Lilamani Paudel said that BRI came forward based on the principle of Panchsheel. He added that the anti-China camp is spreading widespread propaganda against BRI, saying, "It is wrong to say that it is a debt trap of China."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He also said that the projects carried out by the World Bank and the International Monetary Fund are not in the interest of developing countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China's Ambassador to Nepal Chen Song said that the projects under BRI are being completed successfully in various places. According to the ambassador, Chinese investment is also coming into Nepal along with BRI, and Nepal can benefit more from it.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stakeholders made such remarks during the Nepal Experience programme organized on the occasion of the 10th anniversary of the BRI concept. The program was organized by Friends of Silk Road Club Nepal.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17037', 'image' => '20230317024914_1679016659.Clipboard06.jpg', 'article_date' => '2023-03-17 14:48:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17298', 'article_category_id' => '1', 'title' => 'How to get 'Cardless' Service to Withdraw Money without an ATM Card?', 'sub_title' => '', 'summary' => 'March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless service'.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless service'. This is a service that allows you to withdraw money from an ATM without an ATM card.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bank’s customers can now withdraw money from ATM machine even if they don't carry an ATM card. That means customers can now save Rs 500 annually that the banks charge for ATMs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Customers who have taken mobile banking service can avail the cardless service without paying any additional charges. For that, customers must be smart phone users.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This is an additional facility for customers using mobile banking services to withdraw money without a card or cheque. Before Covid-19, bank customers could withdraw money from their accounts only with ATM or by issuing a cheque.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">How to get cardless service?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To get the cardless service, first of all you need to get the mobile banking service. If you have the facility of mobile banking, you should select 'Cardless Withdraw' in the mobile app of the respective bank. Then you should mention the amount you want to withdraw multiplied by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. After that, if you click on withdraw, an OTP code will be sent to your registered mobile number. Then you have to start the process for cardless service by pressing the cardless withdrawal button on the ATM machine.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After choosing the language at the ATM, you have to enter your mobile number registered in mobile banking system and enter the amount you want to withdraw. This amount and the previous amount entered by the user in mobile banking should be the same.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After entering the previously received OTP on the mobile, the user can withdraw the money from the ATM without an ATM card.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For this transaction, the customer can withdraw a minimum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">at a time. Similarly, one can withdraw up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 in a day and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 in a month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">How many cardless service users are there in Nepal?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the outbreak of Covid-19 infection in Nepal, many people were afraid to withdraw money from ATMs. Niraj Sharma, head of the Retail Transaction Banking of Nabil Bank, said that Nepali banks realized the need for cardless ATMs in the country during the Covid-19 period and took the initiative to start cardless service. He said that the number of customers withdrawing money through this method is increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, money could be withdrawn only with the help of checques and ATMs. Even if someone forgets/loses the ATM or loses the ATM's PIN number, the customer should not have to worry about withdrawing money. Keeping in mind the increasing use of smartphones, the bank has combined the facility of withdrawing money from ATMs with mobile banking," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that cardless withdrawal was started when many people were afraid to go to ATMs due to the fear of Covid-19. He also informed that this service has been implemented in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">271</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ATMs of Nabil Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Advantages and disadvantages of cardless withdrawal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The cardless service helps customers get rid of the hassle of carrying an ATM card and also saves the annual renewal fee of the ATM. However, the cardless service is currently limited only within the channel of a particular bank. The drawback is that you have to reach your bank's ATM even if it is far away.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Not all commercial banks have the service while development banks have also started this service.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Kandel, a bank employee, said that there are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> cardless users of Sangrila Development Bank, which has started cardless ATM service since last April.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no charge for this. He said that this service is provided at the same fee as mobile banking service. Currently, this service can be availed only through the bank's own ATM network. However, bankers say that in the future, cardless service can also be provided through inter-bank ATMs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">History of cardless service in Nepal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunrise Bank started cardless ATM for the first time in Nepal during the Covid-19 period. Most of the banks that are operating now are providing this facility.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Cardless ATM service in Nepal is operated by Nepal Electronic Payment System (NCHL).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The number of mobile banking users is increasing in Nepal. The banks believe that with the increase in the number of mobile banking users, the number of cardless ATM users will also increase in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, in the last fiscal year (FY 2021/22), the number of mobile banking users in Nepal increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent compared to the previous year and reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17036', 'image' => '20230317022217_1678965744.Cardless.jpg', 'article_date' => '2023-03-17 14:21:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17296', 'article_category_id' => '1', 'title' => 'Value of US Dollar Continues to Rise', 'sub_title' => '', 'summary' => 'March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday. According to the central bank, the buying rate of 1 US dollar is Rs 132.08 and the selling rate is Rs 132.68 on Friday. On Thursday, the buying rate of 1 US dollar was set at Rs 131.86 and the selling rate was Rs 132.46.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The exchange rate set by the commercial banks is lower than the exchange rate set by the NRB. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The commercial banks have fixed the minimum purchase rate of USD 1 between Rs 130.86 to Rs 131.7. Among the 21 commercial banks, Standard Chartered Bank offers the lowest purchase rate of USD at Rs 130.86 while NIC Asia Bank and Kumari Bank have fixed the highest purchase rate at Rs 131.7.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Likewise, the minimum selling rate of USD 1 has been fixed between Rs 132.05 to Rs 132.35. Everest Bank offers the minimum selling rate for US dollars at Rs 132.05 while Nabil Bank, Nepal Investment Mega Bank, Prime Bank and NMB Bank have fixed the highest selling rate at Rs 132.35 per dollar.</span></span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17034', 'image' => '20230317013243_1679030197.jpg', 'article_date' => '2023-03-17 13:32:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17295', 'article_category_id' => '1', 'title' => 'Farmers Likely to Face Shortage of Fertilizer during Paddy Plantation Season', 'sub_title' => '', 'summary' => 'March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well. It is estimated that 90,000 metric tons of chemical fertilizers may be insufficient for the paddy crop during this year’s planting season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As the chemical fertilizers purchased from the budget of the current financal year did not arrive on time, it seems certain that there will be a shortage of fertilizers for the paddy crop.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Agriculture and Livestock Development said that there may be a shortage of fertilizers for major crops. About 100,000 metric tons of urea and 50,000 tons of DAP are needed from the time of planting paddy. After that, 60,000 tons of urea and 30,000 tons of DAP are required separately for top dressing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the spokesperson for the ministry, Prakash Kumar Sanjel, the government allocated Rs 31 billion for the purchase of fertilizer in the current financal year through the budget announcement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Arrangements were made to buy 331,500 tons of fertilizers, including 30,000 tons through the G2G process via Agricultural Inputs Company Limited and Salt Trading Corporation. Out of that, 237,500 tons of fertilizer have been imported and 94,000 tons still remaining. Sanjel said that due to this, there is a sign that there may be a shortage of fertilizer during the rice planting season. Currently, the Agricultural Inputs Company Limited has 52,000 tons of urea, 4,000 tons of DAP and 500 tons of potash. Another 20,000 tons of DAP is in the process of arrival to Nepal with 20,000 tons of urea in the pipeline for import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Salt Trading Corporation has 27,000 tons of urea and 18,000 tons of DAP. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajendra Bahadur Karki, head of the purchasing department of the Agricultural Inputs Company informed that all these fertilizers are enough only for the pre-monsoon paddy and maize crops, so more fertilizers are needed for the annual crops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As per him, if fertilizer is not brought according to last year's demand, it is certain that there will be shortage of fertilizer in May and June. He said, “However, if the stuck fertilizer can be brought on time and if the government can proceed with the purchase process of fertilizer on time even from the allocated budget of Rs 7.5 billion, it will avoid the shortage.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The shortage of</span></span> fertilizer has surfaced <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">because </span></span>the <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Salt Trading Corporation failed to bring 50,000 and 27,000 tons of urea and three t</span></span>enders of 20,000 tons of fertilizer from last year's budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17033', 'image' => '20230317121540_paddyyy-transformed.jpeg', 'article_date' => '2023-03-17 12:14:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17294', 'article_category_id' => '1', 'title' => '‘Not All Cooperatives are Problematic’', 'sub_title' => 'Campaigners of Cooperatives Call for Motivating Good Performers and Booking Wrongdoers ', 'summary' => 'March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and values.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and values.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As the cooperative started landing in trouble one after another in recent months due to the overall economic crisis, the campaigners urged the decision-makers not to consider all cooperatives as problematic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the wake of the recent crisis, the Ministry of Land Management, Cooperatives and Poverty Alleviation has made efforts to resolve the problems surfaced in savings and credit cooperative sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at a discussion organized on Wednesday on the issues related to cooperatives, Secretary Dr Damodar Regmi said that the government has already issued a directive to the Cooperative Solution Committee to make necessary arrangement for the embattled cooperatives to immediately return the savings of the depositors. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He informed that the committee has so far had the cooperatives return Rs 450 million to the depositors and is also investigating records of over 1,000 cooperatives. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Secretary Regmi further said that the Department of Cooperatives has made arrangements for returning the deposits to the clients. In this regard, the department has decided to hold the passports and freeze the bank accounts of the operators of problematic cooperative for working against the established norms and values. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Regmi also urged the office-bearers of the National Cooperatives Federation to help incentivize the cooperatives having good performance and book the wrongdoers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">National Cooperatives Federation Chair Minraj Kandel suggested to the district-based office-bearers not to motivate the cooperatives involved in wrongdoing and encourage the good performers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Cooperatives management committee chair Kashiraj Dahal drew the government's attention resolve the problems of the depositors. He also asked the government to impart a message that there was a mechanism to rescue the depositors in troubled times. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department's Registrar Namaraj Ghimire said that the government is actively engaged in bringing the faulty cooperatives to book. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the occasion, other speakers underlined the need for collective commitment to resolve the problems caused by the wrong actions of some operators. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17032', 'image' => '20230317111009_cooperative-new.jpg', 'article_date' => '2023-03-17 11:09:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17293', 'article_category_id' => '1', 'title' => 'Beni-Jomsom Road to be Closed for Six Hours a Day ', 'sub_title' => '', 'summary' => 'March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from Friday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Administration Office, Myagdi, the decision to halt the traffic was taken to carry out landslide prevention works along the Rupse Falls area in Annapurna Rural Municipality-3. Construction of a Bailey bridge and road widening works are also being carried out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Myagdi’s Assistant Chief District Officer, Dhirendra Raj Pant, said vehicular movement will not be allowed along the Rupse section from 6:00 am to 9:00 am and from 1:00 pm to 3:00 pm from March 17 to 28. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the road won't be closed for three days from March 20-23 in view of the Chaite Dashain festival as a large number of devotees are expected to visit Kagbeni to observe the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The administration is to come up with additional provisions for emergency vehicles and ambulances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17031', 'image' => '20230317104053_DhrubasagarSharma_Galeswor_RSS_07_-himalmunikalopatresadak.jpg', 'article_date' => '2023-03-17 10:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17292', 'article_category_id' => '1', 'title' => 'Two Consecutive Quakes Strike Baitadi', 'sub_title' => '', 'summary' => 'Two consecutive earthquakes struck Baitadi on Thursday night.', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">March 17: Two consecutive earthquakes struck Baitadi on Thursday night. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A quake measuring 3.2 on the Richter scale hit Baitadi at 6:25 pm followed by another tremor of 3.5 Richter scale at 6:26 pm on Thursday night.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to Seismological Center Surkhet’s technical assistant Tirthraj Dahal, the epicenter of both quakes is around Baitadi’s Sikharpur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Lately, the earthquake has been jolting Sudurpaschim Province with epicenters in different districts. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17030', 'image' => '20230317063117_collage (25).jpg', 'article_date' => '2023-03-17 06:30:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17290', 'article_category_id' => '1', 'title' => 'Britain to Grant Nepal 90 Million Pounds for Infrastructure Development', 'sub_title' => '', 'summary' => 'March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Toyam Raya and British Ambassador to Nepal Nicola Pollitt signed the agreement from their respective sides at a function held at the Ministry. The LISP programme is co-designed between the Government of Nepal and British Embassy Kathmandu. Up to 1.7 million Nepali citizens will directly receive more sustainable and inclusive infrastructure services as a result. The UK will provide up to 90 million pounds (Rs 14.4 billion) support for this work, according to a statement issued by the Finance Ministry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Importantly, the programme will support Government of Nepal to improve the delivery and sustainability of wider investments in local infrastructure, worth over 2 billion pounds (Rs 320 billion) over the next six years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking on the occasion, British Ambassador Pollitt said that the UK and Nepal have a long and proud history of collaboration in building, maintaining and reconstructing infrastructure. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“This has delivered significant results for the people of Nepal over the last six decades, for which we and the Government of Nepal are immensely proud. LISP is an important programme for both the Government of Nepal and the British Embassy Kathmandu, and another great example of our historic partnership", she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Finance Secretary Raya acknowledged the contribution and continuous support of the British Government for the social and economic development of Nepal since long. He also highlighted that this programme would support for the local level infrastructure and capacity building of local governments which will enhance the quality of public life in local levels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In addition, the Government of Nepal will also provide up to 40 million pounds (Rs 6.4 billion) co-financing to encourage local governments for sustainable and resilient infrastructure service delivery, according to the Ministry. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17028', 'image' => '20230316092702_KB-KTM-RE3A2854copy.jpg', 'article_date' => '2023-03-16 21:26:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17289', 'article_category_id' => '1', 'title' => 'Nepal Defeats UAE to Book a Place in WC Qualifiers ', 'sub_title' => '', 'summary' => 'March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup qualifiers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup qualifiers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chasing a mammoth target of 311 runs, Nepal scored 269 runs for six wickets in 44 overs, when the umpires stopped the game due to insufficient light following rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the UAE had scored 310 runs at the loss of 6 wickets in the stipulated 50 overs. Aasif Khan scored 101 runs in 42 runs, while Vriitya Aarvind and captain Mohammad Wasim contributed 94 and 67 runs respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">For Nepal, Bhim Karki scored 67 runs, Aarif Sheikh scored 52 runs while Kushal Bhurtel and Gulsan Jha contributed 50 runs each. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17027', 'image' => '20230316092222_NP_KTM_CRICKET.jpg', 'article_date' => '2023-03-16 21:21:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17287', 'article_category_id' => '1', 'title' => 'Unemployment Rising in Nepal, say Job Placement Companies', 'sub_title' => '', 'summary' => 'March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent months. Such companies, which collect the demand for employees from various organizations and companies and provide jobs to the aspirants, informed that the demand for new human resources has decreased significantly due to the economic crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kumari Job, which has been working in this field for a long time, claimed that the demand has decreased by 40 to 60 percent compared to the past. Kumari Job’s Managing Director Sandesh Bhandari said that due to the financial problems faced by the employers, the demand for employees is very low.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Managing Director Bhandari told New Business Age that their regular customers say there is no need to add new employees when their business has slowed down. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">In order to reduce the financial burden, some employers are also reducing their staff.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Bhandari, 500 to 800 people apply every day through Kumari Job's website, but only 15 to 20 people get jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Foxjob, another company which is active in the field of job placement, says that the demand for new employees has reduced. According to Bimal Kandel, managing director of Foxjob, the lowest demand is currently in the automobile sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"The demand for steel, cement and paint industries has also decreased," he said. He says that there was a sudden surge in demand for employees after the coronavirus pandemic but it has been continuously declining now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the job placement companies, although the employers are demanding low-level workers and employees, the demand for middle and high-level employees is negligible.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Contrary to this scenario, companies looking for employees in the information technology (IT) sector say that they are facing shortage of manpower. Jaidev Kalouni, managing director of Neko Job, said that it is difficult to get human resources as per their requirement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">“There is a high demand for manpower in the IT sector in Nepal. After the lockdown aimed at stopping the coronavirus, this demand has increased at a rapid rate. However, we lack skilled manpower," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Kalouni, skilled IT personnel in Nepal either go abroad or stay here and work for foreign companies. He says that even though most of those who apply for employment in Nepal have a university degree, they lack practical knowledge.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to government data, about 500,000 people enter Nepal's labor market every year. However, neither the private sector nor the government agencies have the data on how many jobs the private sector creates annually. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The National Planning Commissions member Ram Kumar Phuyal said that although such data is necessary, the government has not prepared it yet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Some of the people who are looking for employment lack higher education, while some have theoretical knowledge but do not have the ability to work when they enter the field.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Many have lost their jobs after the coronavirus pandemic and the Russia-Ukraine tension. The development of industry in the country is taking place at a snail’s and even those that exist are shutting down due to high interest rates and liquidity problem. In this situation, the aspiring job seekers have to either go to India or abroad for jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The number of people going abroad for employment also indicates that it is difficult to find employment in the country. It is mentioned in the latest report of Nepal Rastra Bank that more than 314,000 youth went abroad with work permit from last July to January in the current fiscal year. This means that around 1,500 labour force is going abroad for the first time with a labor permit. During this period, more than 167,000 Nepalese have renewed their labour permits. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17025', 'image' => '20230316044827_1678930256.13.jpg', 'article_date' => '2023-03-16 16:47:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17305', 'article_category_id' => '1', 'title' => 'Farmers Unable to Sell Paddy to FMTCL due to Lack of Bank Accounts', 'sub_title' => '964 Quintals of Paddy Purchased in 8 Months', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 19: Farmers in the terai region are unable to sell paddy to the government because they need bank account to be eligible to sell their produce.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition to that, they are also required to show land ownership certificate of at least one bigha and 10 kathhas (1 hectare approx.) of land in order to sell paddy to the state-owned Food Management and Trading Company Limited.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ram Pukar Mandal, information officer of Janakpur-based regional office of the Food Management and Trading Company Limited (FMTCL), says that most of the farmers are not able to sell rice to the company because they cultivate rice on other people's land.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The farmers could not complete the process to sell rice,” said Mandal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The regional office of the (FMTCL), Janakpurdham has not been able to purchase paddy as per the target in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the target is to purchase 15,000 quintals of paddy in the current fiscal year, the company has purchased only 964.25 quintals of paddy till mid-March. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information Officer Ram Pukar Mandal said that in the current fiscal year, paddy worth Rs 3,016,174 will be purchased. He also admitted that the FMTCL could not be purchase paddy this year as per the target.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mandal argued that because of the decision of Agriculture Knowledge Center that at least 10 quintals of paddy should be bought per farmer, the paddy produced by lower-class farmers could not be bought. He said that farmers were unable to come to sell rice to the company because of the procedural hurdles.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17043', 'image' => '20230319104530_paddyyy-transformed.jpeg', 'article_date' => '2023-03-19 10:44:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17303', 'article_category_id' => '1', 'title' => 'BFIs Demand Stringent Action against Attackers', 'sub_title' => '', 'summary' => 'March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees lately.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees lately.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the employees of the BFIs were attacked one after another, Nepal Bankers Association, Development Bankers Association Nepal, Nepal Financial Institution Association issued a joint statement today and demanded the authorities to take stringent action against the culprits. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The statement reads, "We strongly condemn the recent incidents of threatening, indecent behaviors and brutal attacks on the employees of the banks and financial institutions."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Furthermore, it says, "We strongly object to the physical attacks, indecent behaviors and brutal assault on the employees in Jajarkot, Mawakanpur, Myagdi, Sunsari, Udayapur, Kapilbastu, Rupandehi, Kaski and other districts. We demand stringent action against the culprits."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">These institutions have jointly called for booking those involved in instigating such types of incidents and making statements that incite anarchy and violence.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The press release states that the banking services cannot be operated until such incidents are stopped and the security of employees is guaranteed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The representatives of BFIs argued that the employees have become terrorized and worried after the attack on the banking sector which falls under the essential service and sensitive sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the organizations, the morale of the entire banking sector would decrease if such incidents go up and it will also jeopardize the economy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"Such activities will not be in the best interest of anyone. They will instead create an unfavorable environment, will disturb the social harmony and will also have a negative impact on economic activities, ultimately leading to the possibility of the economy itself crashing down. So, we urge all sides concerned to be conscious of this fact. We call upon the state bodies concerned to timely check these sorts of anarchic activities of taking the law into one's hand," reads the joint press release.</span></span></span></span> -- RSS</p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17041', 'image' => '20230317084454_20230110012110_Banks.jpg', 'article_date' => '2023-03-17 20:43:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17302', 'article_category_id' => '1', 'title' => 'JSP leader Yadav elected Vice-President', 'sub_title' => '', 'summary' => 'Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">March 17: Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on Friday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">In the voting held on Friday, Yadav won the post of the Vice-president by defeating Astalaxmi Shakya of CPN (UML) and Mamata Jha of the Janamat Party. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The three were in the race for the Vice-Presidential election. Yadav had received support from the Nepali Congress, CPN (Maoist Centre), the CPN (Unified Socialist) including the ruling alliance in the election for the third Vice –President. Yadav has garnered 30,328 weighted votes. He received votes of 184 federal and 329 provincial lawmakers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The voting that had begun at 10:00 am today concluded 3:00 pm and a total of 311 federal lawmakers and 518 Provincial Assembly members took part in the voting. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The number of voters was 332 from the Federal Parliament and 550 from the Province level in the Vice-President's election. The voting weightage of a Federal Parliament member is 79 followed by 48 of a PA member. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The polling centre for the election was set up at the New Baneshwor-based Federal Parliament Building. According to the Constitution, the functions to be performed by the President shall be performed by the Vice-president during the absence of the President and the term of the Vice President is five years from the date which he or she is elected. ---</span>RSS </span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17040', 'image' => '20230317062047_collage (27).jpg', 'article_date' => '2023-03-17 18:18:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17300', 'article_category_id' => '1', 'title' => 'Automobile Dealers Struggling to Import Vehicles and Spare Parts', 'sub_title' => '', 'summary' => 'March 17: It has been more than three months since the ban on vehicle import was lifted. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 17: It has been more than three months since the ban on vehicle import was lifted. However, the auto businessmen have been struggling to import spare parts, forget about vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the policy of Nepal Rastra Bank, even though the import ban has been lifted, the businessmen say that they have not been able to import vehicles as well as spare parts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the monthly report published by the central bank on Sunday, the import of vehicles and spare parts decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the seven months of the current fiscal year compared to the corresponding period of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the seven months of the last fiscal year (FY 2021/22) vehicles and spare parts worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">86.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were imported into the country. In the current fiscal year (FY 2022/23), the import decreased by about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and stood at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.20 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal had banned the import of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">luxury items such as cars, jeeps, vans, motorcycles above </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> cc, alcohol among others during last summer due to the decline in foreign exchange reserves. Although the import, which was closed for eight months, was opened from December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">6, vehicles and their spare parts have not been imported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The general secretary of NADA Automobiles Dealers Association, Surendra Upreti, says that because the banks do not finance the purchase of vehicles and the interest rate has increased, the vehicles have not been imported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We businessmen have now reached a situation where we have to close our dealership. Now, we are not in a position to bring vehicles as well as their spare parts," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Upreti says that the entire auto business has collapsed due to the inability to import vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Dhruba Thapa, president of NADA Automobiles Dealers Association, says that due to the policy adopted by the central bank, they were not able to bring vehicles because banks did not invest in this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa claims that the state has also lost billions of rupees in revenue due to the inability of businessmen to bring vehicles as well as vehicle spare parts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of our vehicles are purchased through the bank," says Thapa, "But due to the central bank's policy of increasing LC margin to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, risk weight from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent down-payment of cash for vehicle purchases, banks have not invested in vehicles at the moment."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa says that if the central bank does not adopt some flexibility in the current policies and revises the policies such as risk load, LC, etc., there will be a big crisis in the automobile business in the near future.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17039', 'image' => '20230317025100_nada.jpg', 'article_date' => '2023-03-17 14:50:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17301', 'article_category_id' => '1', 'title' => 'Share Investors Protesting In Front Of NEPSE Office Arrested', 'sub_title' => '', 'summary' => 'Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on Friday. ', 'content' => '<p><br /> <span style="font-size:18px">March 17: Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on Friday. </span></p> <p><span style="font-size:18px">A group of investors had reached the NEPSE building to picket it, demanding implementation of the recommendation report on capital market prepared by the taskforce coordinated by Shivaraj Shrestha, erstwhile Deputy Governor the Nepal Rastra Bank. </span></p> <p><span style="font-size:18px">According to Police Inspector Deependra Shrestha at the Police Circle, Anamnagar, police held three stock investors who staged the sit-in protest in the prohibited area of the NEPSE building. </span></p> <p><span style="font-size:18px">The arrested are Tilak Koirala, Nayan Bastola and Arjun Koirala. Although NEPSE's company secretary Murahari Parajuli urged the protesting investors to attend a discussion meeting with him and other NEPSE authorities, the investors insisted that they will only talk to the NEPSE Chairperson and continued with their sit-in protest in restricted area.</span></p> <p><span style="font-size:18px"> Arrested investor Tilak Koirala informed that they were in the NEPSE building to demand implementation of the 58-point recommendation furnished by the report. “We staged the sit-in to press the concerned authorities for the report's execution," Koirala said. </span></p> <p><span style="font-size:18px">Fifty-eight-point report was prepared some five years ago and it had recommended the government policy reforms and structural reforms needed to end volatility in the capital market and reform financial sector. ----RSS </span><br /> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17038', 'image' => '20230317033649_collage (26).jpg', 'article_date' => '2023-03-17 15:32:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17299', 'article_category_id' => '1', 'title' => 'BRI needs Further Study, say Experts', 'sub_title' => '', 'summary' => 'March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative (BRI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative (BRI).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">They shared that after the concept of BRI was put forward by Chinese President Xi Jinping, there was no in-depth study about it in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bhojraj Paudel, policy reform advisor to South Asia Watch on Trade, Economics and Environment (SAWATEE) said that BRI is focused on security, energy and markets. However, he believes that Nepal can only benefit from the market facilities available by joining it. While choosing a plan for the market, he added, "Now we are talking about the Kathmandu-Kerung railway, but from an economic and practical point of view, it would be beneficial for us to make the Kodari route of four lanes."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to consultant Paudel, China claims that Pokhara International Airport is a plan under the BRI. The government of Nepal has given a slow response to this matter. He said that the government should also be clear about how BRI is progressing within Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Professor of International Relations and Diplomacy of Tribhuvan University, Khadak KC, said that BRI should be promoted by keeping the national interest on top priority. This project is necessary for Nepal. However, geopolitics should be taken into account during implementation, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rajan Sharma, the former chairman of the Transportation and Logistics Committee under the Federation of Nepal Chamber of Commerce and Industry, warned that the situation should not be allowed to lead to the dissatisfaction of the other neighbour when the project carried forward by one neighbour is implemented.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"When we build a structure together with China, there should not be a situation where India imposes a blockade. If that happens, it will be very unfortunate," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the political and administrative leadership expressed concern over the delay in the implementation of BRI and said that it should be implemented as soon as possible.Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha said that the Government of Nepal is committed to advancing BRI. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shrestha said that the government is determined to implement BRI. There has been some delay in the construction of the most important Kathmandu-Kerung railway, but it will go ahead. He said that it is misleading to say that Nepal will fall into a debt trap through BRI.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, former foreign minister and UML leader Pradip Gyawali discussed that the benefits of the current globalization are not shared equally and said that the participatory development concept of BRI is very positive. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Due to our slowness, lack of expertise and geopolitics, development could not happen as expected. We need to increase investment in development. For that, BRI can be a perfect partner," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Former Chief Secretary and Nepal's former Ambassador to China Lilamani Paudel said that BRI came forward based on the principle of Panchsheel. He added that the anti-China camp is spreading widespread propaganda against BRI, saying, "It is wrong to say that it is a debt trap of China."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He also said that the projects carried out by the World Bank and the International Monetary Fund are not in the interest of developing countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China's Ambassador to Nepal Chen Song said that the projects under BRI are being completed successfully in various places. According to the ambassador, Chinese investment is also coming into Nepal along with BRI, and Nepal can benefit more from it.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stakeholders made such remarks during the Nepal Experience programme organized on the occasion of the 10th anniversary of the BRI concept. The program was organized by Friends of Silk Road Club Nepal.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17037', 'image' => '20230317024914_1679016659.Clipboard06.jpg', 'article_date' => '2023-03-17 14:48:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17298', 'article_category_id' => '1', 'title' => 'How to get 'Cardless' Service to Withdraw Money without an ATM Card?', 'sub_title' => '', 'summary' => 'March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless service'.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless service'. This is a service that allows you to withdraw money from an ATM without an ATM card.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bank’s customers can now withdraw money from ATM machine even if they don't carry an ATM card. That means customers can now save Rs 500 annually that the banks charge for ATMs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Customers who have taken mobile banking service can avail the cardless service without paying any additional charges. For that, customers must be smart phone users.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This is an additional facility for customers using mobile banking services to withdraw money without a card or cheque. Before Covid-19, bank customers could withdraw money from their accounts only with ATM or by issuing a cheque.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">How to get cardless service?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To get the cardless service, first of all you need to get the mobile banking service. If you have the facility of mobile banking, you should select 'Cardless Withdraw' in the mobile app of the respective bank. Then you should mention the amount you want to withdraw multiplied by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. After that, if you click on withdraw, an OTP code will be sent to your registered mobile number. Then you have to start the process for cardless service by pressing the cardless withdrawal button on the ATM machine.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After choosing the language at the ATM, you have to enter your mobile number registered in mobile banking system and enter the amount you want to withdraw. This amount and the previous amount entered by the user in mobile banking should be the same.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After entering the previously received OTP on the mobile, the user can withdraw the money from the ATM without an ATM card.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For this transaction, the customer can withdraw a minimum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">at a time. Similarly, one can withdraw up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 in a day and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 in a month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">How many cardless service users are there in Nepal?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the outbreak of Covid-19 infection in Nepal, many people were afraid to withdraw money from ATMs. Niraj Sharma, head of the Retail Transaction Banking of Nabil Bank, said that Nepali banks realized the need for cardless ATMs in the country during the Covid-19 period and took the initiative to start cardless service. He said that the number of customers withdrawing money through this method is increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, money could be withdrawn only with the help of checques and ATMs. Even if someone forgets/loses the ATM or loses the ATM's PIN number, the customer should not have to worry about withdrawing money. Keeping in mind the increasing use of smartphones, the bank has combined the facility of withdrawing money from ATMs with mobile banking," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that cardless withdrawal was started when many people were afraid to go to ATMs due to the fear of Covid-19. He also informed that this service has been implemented in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">271</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ATMs of Nabil Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Advantages and disadvantages of cardless withdrawal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The cardless service helps customers get rid of the hassle of carrying an ATM card and also saves the annual renewal fee of the ATM. However, the cardless service is currently limited only within the channel of a particular bank. The drawback is that you have to reach your bank's ATM even if it is far away.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Not all commercial banks have the service while development banks have also started this service.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Kandel, a bank employee, said that there are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> cardless users of Sangrila Development Bank, which has started cardless ATM service since last April.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no charge for this. He said that this service is provided at the same fee as mobile banking service. Currently, this service can be availed only through the bank's own ATM network. However, bankers say that in the future, cardless service can also be provided through inter-bank ATMs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">History of cardless service in Nepal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunrise Bank started cardless ATM for the first time in Nepal during the Covid-19 period. Most of the banks that are operating now are providing this facility.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Cardless ATM service in Nepal is operated by Nepal Electronic Payment System (NCHL).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The number of mobile banking users is increasing in Nepal. The banks believe that with the increase in the number of mobile banking users, the number of cardless ATM users will also increase in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, in the last fiscal year (FY 2021/22), the number of mobile banking users in Nepal increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent compared to the previous year and reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17036', 'image' => '20230317022217_1678965744.Cardless.jpg', 'article_date' => '2023-03-17 14:21:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17296', 'article_category_id' => '1', 'title' => 'Value of US Dollar Continues to Rise', 'sub_title' => '', 'summary' => 'March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday. According to the central bank, the buying rate of 1 US dollar is Rs 132.08 and the selling rate is Rs 132.68 on Friday. On Thursday, the buying rate of 1 US dollar was set at Rs 131.86 and the selling rate was Rs 132.46.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The exchange rate set by the commercial banks is lower than the exchange rate set by the NRB. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The commercial banks have fixed the minimum purchase rate of USD 1 between Rs 130.86 to Rs 131.7. Among the 21 commercial banks, Standard Chartered Bank offers the lowest purchase rate of USD at Rs 130.86 while NIC Asia Bank and Kumari Bank have fixed the highest purchase rate at Rs 131.7.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Likewise, the minimum selling rate of USD 1 has been fixed between Rs 132.05 to Rs 132.35. Everest Bank offers the minimum selling rate for US dollars at Rs 132.05 while Nabil Bank, Nepal Investment Mega Bank, Prime Bank and NMB Bank have fixed the highest selling rate at Rs 132.35 per dollar.</span></span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17034', 'image' => '20230317013243_1679030197.jpg', 'article_date' => '2023-03-17 13:32:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17295', 'article_category_id' => '1', 'title' => 'Farmers Likely to Face Shortage of Fertilizer during Paddy Plantation Season', 'sub_title' => '', 'summary' => 'March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well. It is estimated that 90,000 metric tons of chemical fertilizers may be insufficient for the paddy crop during this year’s planting season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As the chemical fertilizers purchased from the budget of the current financal year did not arrive on time, it seems certain that there will be a shortage of fertilizers for the paddy crop.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Agriculture and Livestock Development said that there may be a shortage of fertilizers for major crops. About 100,000 metric tons of urea and 50,000 tons of DAP are needed from the time of planting paddy. After that, 60,000 tons of urea and 30,000 tons of DAP are required separately for top dressing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the spokesperson for the ministry, Prakash Kumar Sanjel, the government allocated Rs 31 billion for the purchase of fertilizer in the current financal year through the budget announcement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Arrangements were made to buy 331,500 tons of fertilizers, including 30,000 tons through the G2G process via Agricultural Inputs Company Limited and Salt Trading Corporation. Out of that, 237,500 tons of fertilizer have been imported and 94,000 tons still remaining. Sanjel said that due to this, there is a sign that there may be a shortage of fertilizer during the rice planting season. Currently, the Agricultural Inputs Company Limited has 52,000 tons of urea, 4,000 tons of DAP and 500 tons of potash. Another 20,000 tons of DAP is in the process of arrival to Nepal with 20,000 tons of urea in the pipeline for import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Salt Trading Corporation has 27,000 tons of urea and 18,000 tons of DAP. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajendra Bahadur Karki, head of the purchasing department of the Agricultural Inputs Company informed that all these fertilizers are enough only for the pre-monsoon paddy and maize crops, so more fertilizers are needed for the annual crops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As per him, if fertilizer is not brought according to last year's demand, it is certain that there will be shortage of fertilizer in May and June. He said, “However, if the stuck fertilizer can be brought on time and if the government can proceed with the purchase process of fertilizer on time even from the allocated budget of Rs 7.5 billion, it will avoid the shortage.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The shortage of</span></span> fertilizer has surfaced <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">because </span></span>the <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Salt Trading Corporation failed to bring 50,000 and 27,000 tons of urea and three t</span></span>enders of 20,000 tons of fertilizer from last year's budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17033', 'image' => '20230317121540_paddyyy-transformed.jpeg', 'article_date' => '2023-03-17 12:14:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17294', 'article_category_id' => '1', 'title' => '‘Not All Cooperatives are Problematic’', 'sub_title' => 'Campaigners of Cooperatives Call for Motivating Good Performers and Booking Wrongdoers ', 'summary' => 'March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and values.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and values.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As the cooperative started landing in trouble one after another in recent months due to the overall economic crisis, the campaigners urged the decision-makers not to consider all cooperatives as problematic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the wake of the recent crisis, the Ministry of Land Management, Cooperatives and Poverty Alleviation has made efforts to resolve the problems surfaced in savings and credit cooperative sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at a discussion organized on Wednesday on the issues related to cooperatives, Secretary Dr Damodar Regmi said that the government has already issued a directive to the Cooperative Solution Committee to make necessary arrangement for the embattled cooperatives to immediately return the savings of the depositors. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He informed that the committee has so far had the cooperatives return Rs 450 million to the depositors and is also investigating records of over 1,000 cooperatives. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Secretary Regmi further said that the Department of Cooperatives has made arrangements for returning the deposits to the clients. In this regard, the department has decided to hold the passports and freeze the bank accounts of the operators of problematic cooperative for working against the established norms and values. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Regmi also urged the office-bearers of the National Cooperatives Federation to help incentivize the cooperatives having good performance and book the wrongdoers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">National Cooperatives Federation Chair Minraj Kandel suggested to the district-based office-bearers not to motivate the cooperatives involved in wrongdoing and encourage the good performers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Cooperatives management committee chair Kashiraj Dahal drew the government's attention resolve the problems of the depositors. He also asked the government to impart a message that there was a mechanism to rescue the depositors in troubled times. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department's Registrar Namaraj Ghimire said that the government is actively engaged in bringing the faulty cooperatives to book. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the occasion, other speakers underlined the need for collective commitment to resolve the problems caused by the wrong actions of some operators. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17032', 'image' => '20230317111009_cooperative-new.jpg', 'article_date' => '2023-03-17 11:09:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17293', 'article_category_id' => '1', 'title' => 'Beni-Jomsom Road to be Closed for Six Hours a Day ', 'sub_title' => '', 'summary' => 'March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from Friday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Administration Office, Myagdi, the decision to halt the traffic was taken to carry out landslide prevention works along the Rupse Falls area in Annapurna Rural Municipality-3. Construction of a Bailey bridge and road widening works are also being carried out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Myagdi’s Assistant Chief District Officer, Dhirendra Raj Pant, said vehicular movement will not be allowed along the Rupse section from 6:00 am to 9:00 am and from 1:00 pm to 3:00 pm from March 17 to 28. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the road won't be closed for three days from March 20-23 in view of the Chaite Dashain festival as a large number of devotees are expected to visit Kagbeni to observe the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The administration is to come up with additional provisions for emergency vehicles and ambulances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17031', 'image' => '20230317104053_DhrubasagarSharma_Galeswor_RSS_07_-himalmunikalopatresadak.jpg', 'article_date' => '2023-03-17 10:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17292', 'article_category_id' => '1', 'title' => 'Two Consecutive Quakes Strike Baitadi', 'sub_title' => '', 'summary' => 'Two consecutive earthquakes struck Baitadi on Thursday night.', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">March 17: Two consecutive earthquakes struck Baitadi on Thursday night. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A quake measuring 3.2 on the Richter scale hit Baitadi at 6:25 pm followed by another tremor of 3.5 Richter scale at 6:26 pm on Thursday night.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to Seismological Center Surkhet’s technical assistant Tirthraj Dahal, the epicenter of both quakes is around Baitadi’s Sikharpur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Lately, the earthquake has been jolting Sudurpaschim Province with epicenters in different districts. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17030', 'image' => '20230317063117_collage (25).jpg', 'article_date' => '2023-03-17 06:30:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17290', 'article_category_id' => '1', 'title' => 'Britain to Grant Nepal 90 Million Pounds for Infrastructure Development', 'sub_title' => '', 'summary' => 'March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Toyam Raya and British Ambassador to Nepal Nicola Pollitt signed the agreement from their respective sides at a function held at the Ministry. The LISP programme is co-designed between the Government of Nepal and British Embassy Kathmandu. Up to 1.7 million Nepali citizens will directly receive more sustainable and inclusive infrastructure services as a result. The UK will provide up to 90 million pounds (Rs 14.4 billion) support for this work, according to a statement issued by the Finance Ministry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Importantly, the programme will support Government of Nepal to improve the delivery and sustainability of wider investments in local infrastructure, worth over 2 billion pounds (Rs 320 billion) over the next six years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking on the occasion, British Ambassador Pollitt said that the UK and Nepal have a long and proud history of collaboration in building, maintaining and reconstructing infrastructure. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“This has delivered significant results for the people of Nepal over the last six decades, for which we and the Government of Nepal are immensely proud. LISP is an important programme for both the Government of Nepal and the British Embassy Kathmandu, and another great example of our historic partnership", she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Finance Secretary Raya acknowledged the contribution and continuous support of the British Government for the social and economic development of Nepal since long. He also highlighted that this programme would support for the local level infrastructure and capacity building of local governments which will enhance the quality of public life in local levels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In addition, the Government of Nepal will also provide up to 40 million pounds (Rs 6.4 billion) co-financing to encourage local governments for sustainable and resilient infrastructure service delivery, according to the Ministry. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17028', 'image' => '20230316092702_KB-KTM-RE3A2854copy.jpg', 'article_date' => '2023-03-16 21:26:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17289', 'article_category_id' => '1', 'title' => 'Nepal Defeats UAE to Book a Place in WC Qualifiers ', 'sub_title' => '', 'summary' => 'March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup qualifiers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup qualifiers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chasing a mammoth target of 311 runs, Nepal scored 269 runs for six wickets in 44 overs, when the umpires stopped the game due to insufficient light following rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the UAE had scored 310 runs at the loss of 6 wickets in the stipulated 50 overs. Aasif Khan scored 101 runs in 42 runs, while Vriitya Aarvind and captain Mohammad Wasim contributed 94 and 67 runs respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">For Nepal, Bhim Karki scored 67 runs, Aarif Sheikh scored 52 runs while Kushal Bhurtel and Gulsan Jha contributed 50 runs each. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17027', 'image' => '20230316092222_NP_KTM_CRICKET.jpg', 'article_date' => '2023-03-16 21:21:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17287', 'article_category_id' => '1', 'title' => 'Unemployment Rising in Nepal, say Job Placement Companies', 'sub_title' => '', 'summary' => 'March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent months. Such companies, which collect the demand for employees from various organizations and companies and provide jobs to the aspirants, informed that the demand for new human resources has decreased significantly due to the economic crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kumari Job, which has been working in this field for a long time, claimed that the demand has decreased by 40 to 60 percent compared to the past. Kumari Job’s Managing Director Sandesh Bhandari said that due to the financial problems faced by the employers, the demand for employees is very low.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Managing Director Bhandari told New Business Age that their regular customers say there is no need to add new employees when their business has slowed down. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">In order to reduce the financial burden, some employers are also reducing their staff.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Bhandari, 500 to 800 people apply every day through Kumari Job's website, but only 15 to 20 people get jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Foxjob, another company which is active in the field of job placement, says that the demand for new employees has reduced. According to Bimal Kandel, managing director of Foxjob, the lowest demand is currently in the automobile sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"The demand for steel, cement and paint industries has also decreased," he said. He says that there was a sudden surge in demand for employees after the coronavirus pandemic but it has been continuously declining now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the job placement companies, although the employers are demanding low-level workers and employees, the demand for middle and high-level employees is negligible.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Contrary to this scenario, companies looking for employees in the information technology (IT) sector say that they are facing shortage of manpower. Jaidev Kalouni, managing director of Neko Job, said that it is difficult to get human resources as per their requirement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">“There is a high demand for manpower in the IT sector in Nepal. After the lockdown aimed at stopping the coronavirus, this demand has increased at a rapid rate. However, we lack skilled manpower," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Kalouni, skilled IT personnel in Nepal either go abroad or stay here and work for foreign companies. He says that even though most of those who apply for employment in Nepal have a university degree, they lack practical knowledge.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to government data, about 500,000 people enter Nepal's labor market every year. However, neither the private sector nor the government agencies have the data on how many jobs the private sector creates annually. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The National Planning Commissions member Ram Kumar Phuyal said that although such data is necessary, the government has not prepared it yet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Some of the people who are looking for employment lack higher education, while some have theoretical knowledge but do not have the ability to work when they enter the field.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Many have lost their jobs after the coronavirus pandemic and the Russia-Ukraine tension. The development of industry in the country is taking place at a snail’s and even those that exist are shutting down due to high interest rates and liquidity problem. In this situation, the aspiring job seekers have to either go to India or abroad for jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The number of people going abroad for employment also indicates that it is difficult to find employment in the country. It is mentioned in the latest report of Nepal Rastra Bank that more than 314,000 youth went abroad with work permit from last July to January in the current fiscal year. This means that around 1,500 labour force is going abroad for the first time with a labor permit. During this period, more than 167,000 Nepalese have renewed their labour permits. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17025', 'image' => '20230316044827_1678930256.13.jpg', 'article_date' => '2023-03-16 16:47:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '17305', 'article_category_id' => '1', 'title' => 'Farmers Unable to Sell Paddy to FMTCL due to Lack of Bank Accounts', 'sub_title' => '964 Quintals of Paddy Purchased in 8 Months', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 19: Farmers in the terai region are unable to sell paddy to the government because they need bank account to be eligible to sell their produce.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition to that, they are also required to show land ownership certificate of at least one bigha and 10 kathhas (1 hectare approx.) of land in order to sell paddy to the state-owned Food Management and Trading Company Limited.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Ram Pukar Mandal, information officer of Janakpur-based regional office of the Food Management and Trading Company Limited (FMTCL), says that most of the farmers are not able to sell rice to the company because they cultivate rice on other people's land.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The farmers could not complete the process to sell rice,” said Mandal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The regional office of the (FMTCL), Janakpurdham has not been able to purchase paddy as per the target in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the target is to purchase 15,000 quintals of paddy in the current fiscal year, the company has purchased only 964.25 quintals of paddy till mid-March. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Information Officer Ram Pukar Mandal said that in the current fiscal year, paddy worth Rs 3,016,174 will be purchased. He also admitted that the FMTCL could not be purchase paddy this year as per the target.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mandal argued that because of the decision of Agriculture Knowledge Center that at least 10 quintals of paddy should be bought per farmer, the paddy produced by lower-class farmers could not be bought. He said that farmers were unable to come to sell rice to the company because of the procedural hurdles.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-19', 'modified' => '2023-03-19', 'keywords' => '', 'description' => '', 'sortorder' => '17043', 'image' => '20230319104530_paddyyy-transformed.jpeg', 'article_date' => '2023-03-19 10:44:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17303', 'article_category_id' => '1', 'title' => 'BFIs Demand Stringent Action against Attackers', 'sub_title' => '', 'summary' => 'March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees lately.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">March 17: The umbrella organizations of banks and financial institutions (BFIs) have demanded security guarantees to the employees working in the banking sector amid rising instances of physical assaults against BFI employees lately.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">After the employees of the BFIs were attacked one after another, Nepal Bankers Association, Development Bankers Association Nepal, Nepal Financial Institution Association issued a joint statement today and demanded the authorities to take stringent action against the culprits. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The statement reads, "We strongly condemn the recent incidents of threatening, indecent behaviors and brutal attacks on the employees of the banks and financial institutions."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Furthermore, it says, "We strongly object to the physical attacks, indecent behaviors and brutal assault on the employees in Jajarkot, Mawakanpur, Myagdi, Sunsari, Udayapur, Kapilbastu, Rupandehi, Kaski and other districts. We demand stringent action against the culprits."</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">These institutions have jointly called for booking those involved in instigating such types of incidents and making statements that incite anarchy and violence.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The press release states that the banking services cannot be operated until such incidents are stopped and the security of employees is guaranteed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The representatives of BFIs argued that the employees have become terrorized and worried after the attack on the banking sector which falls under the essential service and sensitive sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the organizations, the morale of the entire banking sector would decrease if such incidents go up and it will also jeopardize the economy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"Such activities will not be in the best interest of anyone. They will instead create an unfavorable environment, will disturb the social harmony and will also have a negative impact on economic activities, ultimately leading to the possibility of the economy itself crashing down. So, we urge all sides concerned to be conscious of this fact. We call upon the state bodies concerned to timely check these sorts of anarchic activities of taking the law into one's hand," reads the joint press release.</span></span></span></span> -- RSS</p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17041', 'image' => '20230317084454_20230110012110_Banks.jpg', 'article_date' => '2023-03-17 20:43:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17302', 'article_category_id' => '1', 'title' => 'JSP leader Yadav elected Vice-President', 'sub_title' => '', 'summary' => 'Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">March 17: Janata Samajbadi Party ( JSP) Nepal's parliamentary party leader and former minister Ram Sahaya Prasad Yadav has been elected the Vice President of Nepal on Friday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">In the voting held on Friday, Yadav won the post of the Vice-president by defeating Astalaxmi Shakya of CPN (UML) and Mamata Jha of the Janamat Party. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The three were in the race for the Vice-Presidential election. Yadav had received support from the Nepali Congress, CPN (Maoist Centre), the CPN (Unified Socialist) including the ruling alliance in the election for the third Vice –President. Yadav has garnered 30,328 weighted votes. He received votes of 184 federal and 329 provincial lawmakers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The voting that had begun at 10:00 am today concluded 3:00 pm and a total of 311 federal lawmakers and 518 Provincial Assembly members took part in the voting. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The number of voters was 332 from the Federal Parliament and 550 from the Province level in the Vice-President's election. The voting weightage of a Federal Parliament member is 79 followed by 48 of a PA member. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial",sans-serif">The polling centre for the election was set up at the New Baneshwor-based Federal Parliament Building. According to the Constitution, the functions to be performed by the President shall be performed by the Vice-president during the absence of the President and the term of the Vice President is five years from the date which he or she is elected. ---</span>RSS </span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17040', 'image' => '20230317062047_collage (27).jpg', 'article_date' => '2023-03-17 18:18:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '17300', 'article_category_id' => '1', 'title' => 'Automobile Dealers Struggling to Import Vehicles and Spare Parts', 'sub_title' => '', 'summary' => 'March 17: It has been more than three months since the ban on vehicle import was lifted. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 17: It has been more than three months since the ban on vehicle import was lifted. However, the auto businessmen have been struggling to import spare parts, forget about vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Due to the policy of Nepal Rastra Bank, even though the import ban has been lifted, the businessmen say that they have not been able to import vehicles as well as spare parts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the monthly report published by the central bank on Sunday, the import of vehicles and spare parts decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">57.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the seven months of the current fiscal year compared to the corresponding period of the last fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the seven months of the last fiscal year (FY 2021/22) vehicles and spare parts worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">86.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion were imported into the country. In the current fiscal year (FY 2022/23), the import decreased by about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent and stood at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.20 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal had banned the import of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">luxury items such as cars, jeeps, vans, motorcycles above </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> cc, alcohol among others during last summer due to the decline in foreign exchange reserves. Although the import, which was closed for eight months, was opened from December </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">6, vehicles and their spare parts have not been imported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The general secretary of NADA Automobiles Dealers Association, Surendra Upreti, says that because the banks do not finance the purchase of vehicles and the interest rate has increased, the vehicles have not been imported.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“We businessmen have now reached a situation where we have to close our dealership. Now, we are not in a position to bring vehicles as well as their spare parts," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Upreti says that the entire auto business has collapsed due to the inability to import vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Dhruba Thapa, president of NADA Automobiles Dealers Association, says that due to the policy adopted by the central bank, they were not able to bring vehicles because banks did not invest in this sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa claims that the state has also lost billions of rupees in revenue due to the inability of businessmen to bring vehicles as well as vehicle spare parts.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">More than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">95</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of our vehicles are purchased through the bank," says Thapa, "But due to the central bank's policy of increasing LC margin to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, risk weight from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">150</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent, and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent down-payment of cash for vehicle purchases, banks have not invested in vehicles at the moment."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Thapa says that if the central bank does not adopt some flexibility in the current policies and revises the policies such as risk load, LC, etc., there will be a big crisis in the automobile business in the near future.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17039', 'image' => '20230317025100_nada.jpg', 'article_date' => '2023-03-17 14:50:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17301', 'article_category_id' => '1', 'title' => 'Share Investors Protesting In Front Of NEPSE Office Arrested', 'sub_title' => '', 'summary' => 'Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on Friday. ', 'content' => '<p><br /> <span style="font-size:18px">March 17: Police have arrested share investors who went to the Bhadrakali-based Nepal Stock Exchange (NEPSE) Office building to stage a sit-in protest on Friday. </span></p> <p><span style="font-size:18px">A group of investors had reached the NEPSE building to picket it, demanding implementation of the recommendation report on capital market prepared by the taskforce coordinated by Shivaraj Shrestha, erstwhile Deputy Governor the Nepal Rastra Bank. </span></p> <p><span style="font-size:18px">According to Police Inspector Deependra Shrestha at the Police Circle, Anamnagar, police held three stock investors who staged the sit-in protest in the prohibited area of the NEPSE building. </span></p> <p><span style="font-size:18px">The arrested are Tilak Koirala, Nayan Bastola and Arjun Koirala. Although NEPSE's company secretary Murahari Parajuli urged the protesting investors to attend a discussion meeting with him and other NEPSE authorities, the investors insisted that they will only talk to the NEPSE Chairperson and continued with their sit-in protest in restricted area.</span></p> <p><span style="font-size:18px"> Arrested investor Tilak Koirala informed that they were in the NEPSE building to demand implementation of the 58-point recommendation furnished by the report. “We staged the sit-in to press the concerned authorities for the report's execution," Koirala said. </span></p> <p><span style="font-size:18px">Fifty-eight-point report was prepared some five years ago and it had recommended the government policy reforms and structural reforms needed to end volatility in the capital market and reform financial sector. ----RSS </span><br /> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17038', 'image' => '20230317033649_collage (26).jpg', 'article_date' => '2023-03-17 15:32:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '17299', 'article_category_id' => '1', 'title' => 'BRI needs Further Study, say Experts', 'sub_title' => '', 'summary' => 'March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative (BRI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 17: Experts have pointed out that there is a need for adequate study in Nepal about China's ambitious project Belt and Road Initiative (BRI).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">They shared that after the concept of BRI was put forward by Chinese President Xi Jinping, there was no in-depth study about it in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bhojraj Paudel, policy reform advisor to South Asia Watch on Trade, Economics and Environment (SAWATEE) said that BRI is focused on security, energy and markets. However, he believes that Nepal can only benefit from the market facilities available by joining it. While choosing a plan for the market, he added, "Now we are talking about the Kathmandu-Kerung railway, but from an economic and practical point of view, it would be beneficial for us to make the Kodari route of four lanes."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to consultant Paudel, China claims that Pokhara International Airport is a plan under the BRI. The government of Nepal has given a slow response to this matter. He said that the government should also be clear about how BRI is progressing within Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Professor of International Relations and Diplomacy of Tribhuvan University, Khadak KC, said that BRI should be promoted by keeping the national interest on top priority. This project is necessary for Nepal. However, geopolitics should be taken into account during implementation, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rajan Sharma, the former chairman of the Transportation and Logistics Committee under the Federation of Nepal Chamber of Commerce and Industry, warned that the situation should not be allowed to lead to the dissatisfaction of the other neighbour when the project carried forward by one neighbour is implemented.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"When we build a structure together with China, there should not be a situation where India imposes a blockade. If that happens, it will be very unfortunate," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the political and administrative leadership expressed concern over the delay in the implementation of BRI and said that it should be implemented as soon as possible.Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha said that the Government of Nepal is committed to advancing BRI. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shrestha said that the government is determined to implement BRI. There has been some delay in the construction of the most important Kathmandu-Kerung railway, but it will go ahead. He said that it is misleading to say that Nepal will fall into a debt trap through BRI.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, former foreign minister and UML leader Pradip Gyawali discussed that the benefits of the current globalization are not shared equally and said that the participatory development concept of BRI is very positive. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Due to our slowness, lack of expertise and geopolitics, development could not happen as expected. We need to increase investment in development. For that, BRI can be a perfect partner," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Former Chief Secretary and Nepal's former Ambassador to China Lilamani Paudel said that BRI came forward based on the principle of Panchsheel. He added that the anti-China camp is spreading widespread propaganda against BRI, saying, "It is wrong to say that it is a debt trap of China."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He also said that the projects carried out by the World Bank and the International Monetary Fund are not in the interest of developing countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China's Ambassador to Nepal Chen Song said that the projects under BRI are being completed successfully in various places. According to the ambassador, Chinese investment is also coming into Nepal along with BRI, and Nepal can benefit more from it.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stakeholders made such remarks during the Nepal Experience programme organized on the occasion of the 10th anniversary of the BRI concept. The program was organized by Friends of Silk Road Club Nepal.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17037', 'image' => '20230317024914_1679016659.Clipboard06.jpg', 'article_date' => '2023-03-17 14:48:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17298', 'article_category_id' => '1', 'title' => 'How to get 'Cardless' Service to Withdraw Money without an ATM Card?', 'sub_title' => '', 'summary' => 'March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless service'.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">March 17: Nowadays, if you go to withdraw money from an ATM, you see an option saying 'cardless service'. This is a service that allows you to withdraw money from an ATM without an ATM card.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bank’s customers can now withdraw money from ATM machine even if they don't carry an ATM card. That means customers can now save Rs 500 annually that the banks charge for ATMs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Customers who have taken mobile banking service can avail the cardless service without paying any additional charges. For that, customers must be smart phone users.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This is an additional facility for customers using mobile banking services to withdraw money without a card or cheque. Before Covid-19, bank customers could withdraw money from their accounts only with ATM or by issuing a cheque.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">How to get cardless service?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">To get the cardless service, first of all you need to get the mobile banking service. If you have the facility of mobile banking, you should select 'Cardless Withdraw' in the mobile app of the respective bank. Then you should mention the amount you want to withdraw multiplied by Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. After that, if you click on withdraw, an OTP code will be sent to your registered mobile number. Then you have to start the process for cardless service by pressing the cardless withdrawal button on the ATM machine.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After choosing the language at the ATM, you have to enter your mobile number registered in mobile banking system and enter the amount you want to withdraw. This amount and the previous amount entered by the user in mobile banking should be the same.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After entering the previously received OTP on the mobile, the user can withdraw the money from the ATM without an ATM card.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">For this transaction, the customer can withdraw a minimum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">500</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> to a maximum of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25,000</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">at a time. Similarly, one can withdraw up to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 in a day and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00,000 in a month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">How many cardless service users are there in Nepal?</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">During the outbreak of Covid-19 infection in Nepal, many people were afraid to withdraw money from ATMs. Niraj Sharma, head of the Retail Transaction Banking of Nabil Bank, said that Nepali banks realized the need for cardless ATMs in the country during the Covid-19 period and took the initiative to start cardless service. He said that the number of customers withdrawing money through this method is increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, money could be withdrawn only with the help of checques and ATMs. Even if someone forgets/loses the ATM or loses the ATM's PIN number, the customer should not have to worry about withdrawing money. Keeping in mind the increasing use of smartphones, the bank has combined the facility of withdrawing money from ATMs with mobile banking," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He said that cardless withdrawal was started when many people were afraid to go to ATMs due to the fear of Covid-19. He also informed that this service has been implemented in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">271</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> ATMs of Nabil Bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Advantages and disadvantages of cardless withdrawal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The cardless service helps customers get rid of the hassle of carrying an ATM card and also saves the annual renewal fee of the ATM. However, the cardless service is currently limited only within the channel of a particular bank. The drawback is that you have to reach your bank's ATM even if it is far away.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Not all commercial banks have the service while development banks have also started this service.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Kandel, a bank employee, said that there are more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> cardless users of Sangrila Development Bank, which has started cardless ATM service since last April.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is no charge for this. He said that this service is provided at the same fee as mobile banking service. Currently, this service can be availed only through the bank's own ATM network. However, bankers say that in the future, cardless service can also be provided through inter-bank ATMs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">History of cardless service in Nepal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunrise Bank started cardless ATM for the first time in Nepal during the Covid-19 period. Most of the banks that are operating now are providing this facility.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Cardless ATM service in Nepal is operated by Nepal Electronic Payment System (NCHL).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The number of mobile banking users is increasing in Nepal. The banks believe that with the increase in the number of mobile banking users, the number of cardless ATM users will also increase in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, in the last fiscal year (FY 2021/22), the number of mobile banking users in Nepal increased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent compared to the previous year and reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18.3 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17036', 'image' => '20230317022217_1678965744.Cardless.jpg', 'article_date' => '2023-03-17 14:21:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17296', 'article_category_id' => '1', 'title' => 'Value of US Dollar Continues to Rise', 'sub_title' => '', 'summary' => 'March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">March 17: Nepal Rastra Bank has increased the reference rate of dollar on Friday. According to the central bank, the buying rate of 1 US dollar is Rs 132.08 and the selling rate is Rs 132.68 on Friday. On Thursday, the buying rate of 1 US dollar was set at Rs 131.86 and the selling rate was Rs 132.46.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The exchange rate set by the commercial banks is lower than the exchange rate set by the NRB. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The commercial banks have fixed the minimum purchase rate of USD 1 between Rs 130.86 to Rs 131.7. Among the 21 commercial banks, Standard Chartered Bank offers the lowest purchase rate of USD at Rs 130.86 while NIC Asia Bank and Kumari Bank have fixed the highest purchase rate at Rs 131.7.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Likewise, the minimum selling rate of USD 1 has been fixed between Rs 132.05 to Rs 132.35. Everest Bank offers the minimum selling rate for US dollars at Rs 132.05 while Nabil Bank, Nepal Investment Mega Bank, Prime Bank and NMB Bank have fixed the highest selling rate at Rs 132.35 per dollar.</span></span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17034', 'image' => '20230317013243_1679030197.jpg', 'article_date' => '2023-03-17 13:32:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17295', 'article_category_id' => '1', 'title' => 'Farmers Likely to Face Shortage of Fertilizer during Paddy Plantation Season', 'sub_title' => '', 'summary' => 'March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">March 17: The problem of farmers facing shortage of chemical fertilizers for paddy planting is sure to repeat this year as well. It is estimated that 90,000 metric tons of chemical fertilizers may be insufficient for the paddy crop during this year’s planting season.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As the chemical fertilizers purchased from the budget of the current financal year did not arrive on time, it seems certain that there will be a shortage of fertilizers for the paddy crop.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Agriculture and Livestock Development said that there may be a shortage of fertilizers for major crops. About 100,000 metric tons of urea and 50,000 tons of DAP are needed from the time of planting paddy. After that, 60,000 tons of urea and 30,000 tons of DAP are required separately for top dressing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the spokesperson for the ministry, Prakash Kumar Sanjel, the government allocated Rs 31 billion for the purchase of fertilizer in the current financal year through the budget announcement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Arrangements were made to buy 331,500 tons of fertilizers, including 30,000 tons through the G2G process via Agricultural Inputs Company Limited and Salt Trading Corporation. Out of that, 237,500 tons of fertilizer have been imported and 94,000 tons still remaining. Sanjel said that due to this, there is a sign that there may be a shortage of fertilizer during the rice planting season. Currently, the Agricultural Inputs Company Limited has 52,000 tons of urea, 4,000 tons of DAP and 500 tons of potash. Another 20,000 tons of DAP is in the process of arrival to Nepal with 20,000 tons of urea in the pipeline for import.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Salt Trading Corporation has 27,000 tons of urea and 18,000 tons of DAP. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajendra Bahadur Karki, head of the purchasing department of the Agricultural Inputs Company informed that all these fertilizers are enough only for the pre-monsoon paddy and maize crops, so more fertilizers are needed for the annual crops.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As per him, if fertilizer is not brought according to last year's demand, it is certain that there will be shortage of fertilizer in May and June. He said, “However, if the stuck fertilizer can be brought on time and if the government can proceed with the purchase process of fertilizer on time even from the allocated budget of Rs 7.5 billion, it will avoid the shortage.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The shortage of</span></span> fertilizer has surfaced <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">because </span></span>the <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Salt Trading Corporation failed to bring 50,000 and 27,000 tons of urea and three t</span></span>enders of 20,000 tons of fertilizer from last year's budget.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17033', 'image' => '20230317121540_paddyyy-transformed.jpeg', 'article_date' => '2023-03-17 12:14:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17294', 'article_category_id' => '1', 'title' => '‘Not All Cooperatives are Problematic’', 'sub_title' => 'Campaigners of Cooperatives Call for Motivating Good Performers and Booking Wrongdoers ', 'summary' => 'March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and values.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 17: Campaigners of cooperative in Nepal have suggested to the stakeholders not to undermine the cooperatives – one of the pillars of economy – operating as per their norms and values.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As the cooperative started landing in trouble one after another in recent months due to the overall economic crisis, the campaigners urged the decision-makers not to consider all cooperatives as problematic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the wake of the recent crisis, the Ministry of Land Management, Cooperatives and Poverty Alleviation has made efforts to resolve the problems surfaced in savings and credit cooperative sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Speaking at a discussion organized on Wednesday on the issues related to cooperatives, Secretary Dr Damodar Regmi said that the government has already issued a directive to the Cooperative Solution Committee to make necessary arrangement for the embattled cooperatives to immediately return the savings of the depositors. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He informed that the committee has so far had the cooperatives return Rs 450 million to the depositors and is also investigating records of over 1,000 cooperatives. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Secretary Regmi further said that the Department of Cooperatives has made arrangements for returning the deposits to the clients. In this regard, the department has decided to hold the passports and freeze the bank accounts of the operators of problematic cooperative for working against the established norms and values. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dr Regmi also urged the office-bearers of the National Cooperatives Federation to help incentivize the cooperatives having good performance and book the wrongdoers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">National Cooperatives Federation Chair Minraj Kandel suggested to the district-based office-bearers not to motivate the cooperatives involved in wrongdoing and encourage the good performers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Cooperatives management committee chair Kashiraj Dahal drew the government's attention resolve the problems of the depositors. He also asked the government to impart a message that there was a mechanism to rescue the depositors in troubled times. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department's Registrar Namaraj Ghimire said that the government is actively engaged in bringing the faulty cooperatives to book. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the occasion, other speakers underlined the need for collective commitment to resolve the problems caused by the wrong actions of some operators. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17032', 'image' => '20230317111009_cooperative-new.jpg', 'article_date' => '2023-03-17 11:09:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17293', 'article_category_id' => '1', 'title' => 'Beni-Jomsom Road to be Closed for Six Hours a Day ', 'sub_title' => '', 'summary' => 'March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from Friday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 17: The Beni-Jomsom road that connects Mustang to the national highway will remain closed for six hours a day starting from Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Administration Office, Myagdi, the decision to halt the traffic was taken to carry out landslide prevention works along the Rupse Falls area in Annapurna Rural Municipality-3. Construction of a Bailey bridge and road widening works are also being carried out. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Myagdi’s Assistant Chief District Officer, Dhirendra Raj Pant, said vehicular movement will not be allowed along the Rupse section from 6:00 am to 9:00 am and from 1:00 pm to 3:00 pm from March 17 to 28. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the road won't be closed for three days from March 20-23 in view of the Chaite Dashain festival as a large number of devotees are expected to visit Kagbeni to observe the festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The administration is to come up with additional provisions for emergency vehicles and ambulances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17031', 'image' => '20230317104053_DhrubasagarSharma_Galeswor_RSS_07_-himalmunikalopatresadak.jpg', 'article_date' => '2023-03-17 10:39:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17292', 'article_category_id' => '1', 'title' => 'Two Consecutive Quakes Strike Baitadi', 'sub_title' => '', 'summary' => 'Two consecutive earthquakes struck Baitadi on Thursday night.', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">March 17: Two consecutive earthquakes struck Baitadi on Thursday night. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A quake measuring 3.2 on the Richter scale hit Baitadi at 6:25 pm followed by another tremor of 3.5 Richter scale at 6:26 pm on Thursday night.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to Seismological Center Surkhet’s technical assistant Tirthraj Dahal, the epicenter of both quakes is around Baitadi’s Sikharpur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Lately, the earthquake has been jolting Sudurpaschim Province with epicenters in different districts. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-17', 'modified' => '2023-03-17', 'keywords' => '', 'description' => '', 'sortorder' => '17030', 'image' => '20230317063117_collage (25).jpg', 'article_date' => '2023-03-17 06:30:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17290', 'article_category_id' => '1', 'title' => 'Britain to Grant Nepal 90 Million Pounds for Infrastructure Development', 'sub_title' => '', 'summary' => 'March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on Thursday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 16: The Ministry of Finance and the British Embassy in Kathmandu have signed a Memorandum of Understanding (MoU) for UK-Nepal collaboration through the Local Infrastructure Support Programme (LISP) on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Toyam Raya and British Ambassador to Nepal Nicola Pollitt signed the agreement from their respective sides at a function held at the Ministry. The LISP programme is co-designed between the Government of Nepal and British Embassy Kathmandu. Up to 1.7 million Nepali citizens will directly receive more sustainable and inclusive infrastructure services as a result. The UK will provide up to 90 million pounds (Rs 14.4 billion) support for this work, according to a statement issued by the Finance Ministry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Importantly, the programme will support Government of Nepal to improve the delivery and sustainability of wider investments in local infrastructure, worth over 2 billion pounds (Rs 320 billion) over the next six years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking on the occasion, British Ambassador Pollitt said that the UK and Nepal have a long and proud history of collaboration in building, maintaining and reconstructing infrastructure. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“This has delivered significant results for the people of Nepal over the last six decades, for which we and the Government of Nepal are immensely proud. LISP is an important programme for both the Government of Nepal and the British Embassy Kathmandu, and another great example of our historic partnership", she said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Finance Secretary Raya acknowledged the contribution and continuous support of the British Government for the social and economic development of Nepal since long. He also highlighted that this programme would support for the local level infrastructure and capacity building of local governments which will enhance the quality of public life in local levels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In addition, the Government of Nepal will also provide up to 40 million pounds (Rs 6.4 billion) co-financing to encourage local governments for sustainable and resilient infrastructure service delivery, according to the Ministry. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17028', 'image' => '20230316092702_KB-KTM-RE3A2854copy.jpg', 'article_date' => '2023-03-16 21:26:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '17289', 'article_category_id' => '1', 'title' => 'Nepal Defeats UAE to Book a Place in WC Qualifiers ', 'sub_title' => '', 'summary' => 'March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup qualifiers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 16: Nepal defeated the UAE by 9 runs according to the Duckworth-Lewis rule to qualify for the 2023 One-day Men's World Cup qualifiers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chasing a mammoth target of 311 runs, Nepal scored 269 runs for six wickets in 44 overs, when the umpires stopped the game due to insufficient light following rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the UAE had scored 310 runs at the loss of 6 wickets in the stipulated 50 overs. Aasif Khan scored 101 runs in 42 runs, while Vriitya Aarvind and captain Mohammad Wasim contributed 94 and 67 runs respectively. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">For Nepal, Bhim Karki scored 67 runs, Aarif Sheikh scored 52 runs while Kushal Bhurtel and Gulsan Jha contributed 50 runs each. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17027', 'image' => '20230316092222_NP_KTM_CRICKET.jpg', 'article_date' => '2023-03-16 21:21:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17287', 'article_category_id' => '1', 'title' => 'Unemployment Rising in Nepal, say Job Placement Companies', 'sub_title' => '', 'summary' => 'March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent months.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">March 16: Job placement companies say that the problem of unemployment in the country is getting worse in recent months. Such companies, which collect the demand for employees from various organizations and companies and provide jobs to the aspirants, informed that the demand for new human resources has decreased significantly due to the economic crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kumari Job, which has been working in this field for a long time, claimed that the demand has decreased by 40 to 60 percent compared to the past. Kumari Job’s Managing Director Sandesh Bhandari said that due to the financial problems faced by the employers, the demand for employees is very low.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Managing Director Bhandari told New Business Age that their regular customers say there is no need to add new employees when their business has slowed down. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">In order to reduce the financial burden, some employers are also reducing their staff.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Bhandari, 500 to 800 people apply every day through Kumari Job's website, but only 15 to 20 people get jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Foxjob, another company which is active in the field of job placement, says that the demand for new employees has reduced. According to Bimal Kandel, managing director of Foxjob, the lowest demand is currently in the automobile sector. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">"The demand for steel, cement and paint industries has also decreased," he said. He says that there was a sudden surge in demand for employees after the coronavirus pandemic but it has been continuously declining now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the job placement companies, although the employers are demanding low-level workers and employees, the demand for middle and high-level employees is negligible.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Contrary to this scenario, companies looking for employees in the information technology (IT) sector say that they are facing shortage of manpower. Jaidev Kalouni, managing director of Neko Job, said that it is difficult to get human resources as per their requirement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">“There is a high demand for manpower in the IT sector in Nepal. After the lockdown aimed at stopping the coronavirus, this demand has increased at a rapid rate. However, we lack skilled manpower," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to Kalouni, skilled IT personnel in Nepal either go abroad or stay here and work for foreign companies. He says that even though most of those who apply for employment in Nepal have a university degree, they lack practical knowledge.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to government data, about 500,000 people enter Nepal's labor market every year. However, neither the private sector nor the government agencies have the data on how many jobs the private sector creates annually. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The National Planning Commissions member Ram Kumar Phuyal said that although such data is necessary, the government has not prepared it yet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Some of the people who are looking for employment lack higher education, while some have theoretical knowledge but do not have the ability to work when they enter the field.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Many have lost their jobs after the coronavirus pandemic and the Russia-Ukraine tension. The development of industry in the country is taking place at a snail’s and even those that exist are shutting down due to high interest rates and liquidity problem. In this situation, the aspiring job seekers have to either go to India or abroad for jobs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The number of people going abroad for employment also indicates that it is difficult to find employment in the country. It is mentioned in the latest report of Nepal Rastra Bank that more than 314,000 youth went abroad with work permit from last July to January in the current fiscal year. This means that around 1,500 labour force is going abroad for the first time with a labor permit. During this period, more than 167,000 Nepalese have renewed their labour permits. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-03-16', 'modified' => '2023-03-16', 'keywords' => '', 'description' => '', 'sortorder' => '17025', 'image' => '20230316044827_1678930256.13.jpg', 'article_date' => '2023-03-16 16:47:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 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
| 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)
| 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
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
