April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra…
April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra…
April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year.…
April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional…
April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals.…
April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country.…
April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily…
April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation…
April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal.…
April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market.…
April 16: The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones.…
April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC)…
April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19…
…
April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently.…
April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal…
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Now we will soon seek clarification from him,” Poudel told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“If we do not get a satisfactory answer, we can initiate the process to relieve him off his duties,” added Poudel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">During a field inspection, the Insurance Board found that the company had made investment against the Investment Guidelines 2075. The board decided to take action accordingly. Agrawal is not only a board member of the company but also the coordinator of the investment committee of the company. The Investment Board has concluded that the insurance company was involved in fraudulent investment at the behest of Agrawal.</span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13037', 'image' => '20210419093930_20200825040928_bima_samiti.jpg', 'article_date' => '2021-04-19 09:38:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13291', 'article_category_id' => '1', 'title' => 'Govt to Unveil New Programmes in Agriculture ', 'sub_title' => '', 'summary' => 'April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">During a programme organised at the ministry to discuss about the budget as well as policies and programmes for the upcoming fiscal year 2021/22, Minister Aryal said that some programmes in agriculture and animal husbandry sector could not be continued but new programmes would be run in an efficient way, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, parliamentarians present at the programme laid emphasis on enhancing production and use of organic fertilizer. They also demanded subsidy in agriculture. </span><br /> <span style="font-family:"Arial Unicode MS"">The MPs also drew the attention of the government to reduce risk from possible disaster and to make arrangements for distributing budget amount only from the local levels and ensure effective insurance scheme in agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS"">Lawmakers Khagaraj Adhikari, Bidya Bhattarai, Sujita Shakya, Maya Gyawali, Shanti Pakhrin, Komal Oli, Thammaya Thapa Magar and Dal Bahadur Rana were present on the occasion. </span></span></span></p> <p><span style="font-size:16px"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai.jpg" style="height:723px; width:800px" /></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13036', 'image' => '20210419091906_20201109032251_Clipboard02.jpg', 'article_date' => '2021-04-19 09:18:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13290', 'article_category_id' => '1', 'title' => 'Banks Demand Collateral Even for Concessional Loans', 'sub_title' => '', 'summary' => 'April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan. Bank and Financial Institutions (BFIs) have only disbursed 1.8 percent of the total concessional loan issued for agriculture at a subsidized interest rate of 5 percent as of mid-February. According to Nepal Rastra Bank, a total of Rs 88.29 billion have been distributed under the concessional loan category. Out of this, only Rs 1.60 billion have been distributed without collateral. The remaining Rs 86.69 billion has been disbursed by keeping collateral.<br /> As of mid-February, 38,355 people have benefited from the commercial farming and livestock loans at subsidized rate. A total of 2,542 people took such loans in between mid-January to mid-February. Although the credit flow without collateral is low, the number of borrowers and the total credit flow to the agricultural sector has increased.<br /> Government-owned banks are in the forefront in providing agricultural loans without any collateral. Agriculture Development Bank is in the top list of banks providing such loans. Out of the total loan of Rs 1.60 billion disbursed by banks without any collateral, the Agriculture Development Bank alone has released more than Rs 1 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times"> Hemal Poudyal, the spokesperson of Agriculture Development Bank, said that the bank disbursed between Rs 500,000 to Rs 1.5 million to around 1,600 people without collateral. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"As it is a state program, we have given collateral-free loans even if there is risk of loss," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">There is an arrangement for BFIs to allocate loans of Rs 300,000 to Rs 50 million under various headings. Banks can give up to Rs 50 million of such loans to the agriculture sector. Chairman of Nepal Bankers' Association Bhuvan Kumar Dahal informed that those who do not want to pay the loan or cannot do so often do not have collateral.<br /> Manoj Gyawali, Deputy General Manager of Nabil Bank, admits that it is natural for the banks not to disburse loans without collateral.<br /> "Banks do not want to risk their investment by disbursing loans without collateral," he said. "According to the NRB's provision, each branch of commercial banks has to give ten concessional loans, that is 500 loans per year," said Gyawali. Banks try to provide such loans on collateral. He said that the central bank has not barred them from keeping collateral for providing concessional loans.<br /> As of mid-February, BFIs have disbursed concessional loans to 77,198 borrowers under ten headings. Banks are yet to recover Rs 124.28 billion from the borrowers. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Apart from agriculture and livestock loans, BFIs have allocated most of the loans to women entrepreneurs. Banks have been providing concessional loans to women entrepreneurs at a subsidized interest rate of 6 percent.<br /> By mid-February, the number of women entrepreneurs taking women entrepreneurship loans from banks and financial institutions has reached 36,763. The NRB informed that loans amounting to Rs 32.95 billion have been disbursed during this period. In January, the number of such debtors was 30,465. During this period, loans amounting to Rs 27.05 billion was released.<br /> Under the concessional loan for education, 132 people have received Rs 61 million in the first eight months of the current fiscal year.<br /> Bankers argue that it is risky to give loans to young students by keeping their certificates as collateral.<br /> Under the heading of youth project loans for returnee migrant workers, 671 people are yet to pay back Rs 513.7 million. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Likewise, BFIs have released loans under the Dalit Community Business Development Loan to 733 individuals. The debt stands at Rs 456 million.<br /> So far, 88 people have received loans under higher education and technical and vocational education loans. There arrears is Rs 33.3 million. The flow of loan under this category has not increased encouragingly since January.<br /> The number of earthquake victims who have taken loans to build private houses has also increased.<br /> The number of such debtors has increased from 238 in January to 237 in February.<br /> Likewise, 205 industrialists have availed the concessional loan given by the government to promote the textile industries. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13035', 'image' => '20210418070636_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-04-18 19:05:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13289', 'article_category_id' => '1', 'title' => 'Contributors to SSF to get Discount on Treatment at Hospitals ', 'sub_title' => '', 'summary' => 'April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. SSF is making necessary preparations to provide discount on treatment at the hospitals from July to make the social security programme more effective. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to the SSF, until now contributors used to get the payment claims only after submitting necessary bills. After receiving complaints that this process is full of hassles, SSF has made all required preparations to provide 80 percent discount on the treatment at the hospital itself. Once this service is available, contributors to SSF will have to pay only 20 percent for the treatment that costs up to Rs 100,000.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kapil Mani Gyawali, executive director of the SSF said, “Contributors need not visit SSF office to claim the treatment amount. We are working to provide this facility directly from the hospital.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to him, SSF is in the process of signing agreements with the hospitals to this end. So far, agreements have been signed with about 105 hospitals in the provinces, including Kathmandu Valley. SSF has signed agreements with twenty hospitals in Province 1, sixteen in Province 2, twenty in Bagmati Province, eight in Gandaki Province, fourteen in Lumbini Province, ten in Karnali Province and seventeen in the Sudur Paschim Province. The list also includes TU Teaching Hospital and Bir Hospital of Kathmandu valley. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">SSF had planned to sign agreements with at least ten hospitals in each province. But it has exceeded its target under this plan. “We are planning to bring hospitals across the country under this plan and start giving service from July if the second wave of cornonavirus doesn’t affect this process,” said Gyawali.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Hospitals that have signed agreement with the SSF get the discount payment provided to contributors after they makes the claims with the SSF. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, SSF is making its programmes reasonable and practical to attract more employees. SSF which came into operation from 27<sup>th</sup> November, 2018 has 13,800 contributors. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13034', 'image' => '20210418023111_20191104101107_20190129043642_a.jpg', 'article_date' => '2021-04-18 14:30:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13288', 'article_category_id' => '1', 'title' => 'Digital Transformation Requires Stepped-Up Security Measures ', 'sub_title' => '', 'summary' => 'April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. A huge chunk of population has started doing digital transactions following the lockdown that restricted physical movement. There has been a sharp rise in the number of transactions done through electronic and internet platforms. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In the month of Shrawan 2077 (mid July/mid Aug 2020), transaction worth Rs 18.39 billion took place through mobile banking. Number of such transactions has increased to Rs 40.35 billion in the month of Chaitra (mid Feb/mid March). Likewise, transactions worth Rs 51.3 billion were done through connectIPS in the month of Shrawan (mid July/mid Aug) which went up to Rs 110 billion in the month of Chaitra (mid Feb/mid March).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The growth in the digital transactions is positive news for all the electronic service providers but with this growth also comes digital risks like data loss, identity theft, and financial loss. In this context, Rebati Adhikari of New Business Age talked with Prabesh Poudel, Information Security Officer (ISO) at Nabil Bank to seek his views on importance of digital security in banking sector. Excerpts:</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">With increase in digital banking, how important is digital security? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Today, in one form or another, every bank is on the path to digital transformations, with digital payments moving ahead at high speed. But a</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">t the same time, in the lack of proper security controls in place, there are chances that banks could suffer major service failures due to their inability to manage digital risk. So, while we talk about digital transformation, security transformation cannot be left behind but must go hand in hand. </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In this new digital world, the implementation of new digital technology not only requires system implementation but also requires focus on areas related to digital security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of security measures banks should employ to ensure digital security?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">A complete security strategy has to be in place to protect information assets. Security has to be looked from different aspects such as secured technology infrastructure, on-going security assessment, on-going security monitoring and most importantly security culture. All these have to be guided by strong policies and procedures. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Threat actors have shifted efforts to target end users by exploiting user behavior by misleading users into opening and executing a malicious file, going to a malicious site or handing over information, typically using lures which create urgency (eg lottery payment) or leverage current crises and events (eg covid fund).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So in this scenario, one of the challenging things in today’s context specially in the case of Nepal is security awareness. So, only secured system will not help in strengthening information security, but user awareness is as important as that. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Is banking sector experiencing more risks from mobile banking apps? What should be done to minimize it? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security threats exist everywhere be it traditional banking or modern banking with digital channels, but how you take the precautions is something that plays the major role.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Yes, with a mobile app there are potential vulnerabilities related to the security of the app itself, vulnerabilities in code and also potential vulnerabilities related to the transmission of information. In addition, threats coming from unawareness of the consumers is even more critical. There have been instances in Nepal in which mobile banking users are found to have shared their password/OTP with fraudsters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So to list some of the preventive measures, before installing any mobile app, complete vendor assessment ie assessment of technology service provider is very important. This should be followed by VAPT (Vulnerability Assessment and Penetration Testing) of system itself to ensure system is secured before LIVE implementation. But it does not end here because security is an on-going process as new threats are evolving day by day, so an on-going security assessment, security monitoring, security awareness to consumers is a must. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can use a security awareness training program to educate their employees as well as customers about the importance of data security. Say for example when Multi Factor Authentication is implemented in any system, customers should also be aware of its importance so that he doesn’t share password/OTP with anyone with wrong intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So, it’s no longer about just the individual components of security framework. Focus must be on how they are orchestrated to build a more effective security posture.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of mechanism should bank set up to monitor/respond to cyber threats? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security monitoring is one of the important components of information security and the best way to do is by establishment of Security Operations Centre (SOC), which includes a team of security experts and the facility in which they dedicate themselves entirely for monitoring, analyzing and reporting information. A SOC team monitors cyber security threats on the basis of logs from various critical system 24/7 and detects and responds to any security incidents it oversees and then alerts the bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can establish SOC in-house with their own team or may outsource it to professional and reliable third-party. There are multiple companies in Nepal that have been providing ‘Managed SOC’ service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of significance information security audit holds?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Information security audit will help in comprehensive assessment of a bank’s information system and can help identify system weakness and vulnerabilities in IT infrastructure. In addition, it also verifies the bank’s policies and procedures, security controls, ensures regulatory compliance and many more.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Such audit will definitely help in continual improvement of security posture of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, the most important thing while conducting such external audit is to ensure such audit firm comprises of professional team with enough experience, expertise and standard certification like CISA/ISO 27001 etc for conducting information security audit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13033', 'image' => '20210418021204_iStock-514571236-768x508.jpg', 'article_date' => '2021-04-18 14:10:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13287', 'article_category_id' => '1', 'title' => ' Kathmandu Denizens getting 140 Million Litres of Drinking Water from Melamchi Project ', 'sub_title' => '', 'summary' => 'April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily basis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily basis, according to a news report prepared by the state-owned national news agency RSS. </span><br /> <span style="font-family:"Arial Unicode MS"">The project has started formally distributing water to the dwellers of Kathmandu after President Bidya Devi Bhandari inaugurated the water distribution tap in Kathmandu some time ago. </span><br /> <span style="font-family:"Arial Unicode MS"">The project supplied about 80 million liters of water in the trial phase until last week and has now officially started distributing 10 million litres of water. </span><br /> <span style="font-family:"Arial Unicode MS"">According to the spokesperson of Melamchi Water Supply Development Committee, Rajendra Panta, the project has begun distributing 140 million litres daily from April 15 and will be increased the water supply up to 170 million litres very soon. </span><br /> <span style="font-family:"Arial Unicode MS"">Giving reference to Panta, RSS said that both of the water-processing plants in Sundarijal have come into operation. The project has been distributing water from Mahankal, Balaju, Lazimpat, Anamnagar, Panipokhari, Minbhawan and Khumaltar water depots. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, water supply would be soon extended to other depots in Thimi, Kirtipur. Nine water ponds and 1,100 kms long distribution system is being development in the Kathmandu valley for the distribution of water.</span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13032', 'image' => '20210418110118_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-04-18 11:00:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13286', 'article_category_id' => '1', 'title' => 'There is no Alternative to Nijgad International Airport: CAAN Director General ', 'sub_title' => '', 'summary' => 'April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation industry.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation industry.<br /> According to Pokhrel, none of the existing airports including Tribhuvan International Airport (TIA), Gautam Buddha International Airport (GBIA), and Pokhara International Airport (PIA) can hold the growing air traffic in the future.<br /> Director-General Pokharel shared that the air traffic in Nepal and the Asia Pacific region has grown immensely. It will continue to grow further after the Covid-19 situation improves, he added.<br /> However, he opines that neither TIA nor the under-construction national pride projects GBIA and PIA will have enough capacity to hold the increasing flow of aircraft. <br /> The air traffic will grow immensely in contrary to the space of these airports. The airports won't have enough space to cope with the traffic, Pokharel told New Business Age.<br /> He added that none of the three airports are expandable due to the space limitation of the airports.<br /> Neither of TIA, on construction GBIA and PIA, have space for further expansion.<br /> However, Nijgadh International Airport is capable of dealing with the projected traffic growth, he shared.<br /> According to Pokharel, Nijgadh International Airport is best suited to cope with the air traffic pressure because of its location and availability of space. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"The proposed airport project is close to the capital - only 75 km away through the under-construction fast track. Likewise, the project covers 1,900 hectares of land which is expandable to 8,000 more hectares, to the full capacity," informed Pokharel.<br /> The proposed airport in Nijgad has multiple advantages. The airport will handle jumbo-jets, including the largest passenger aircraft Airbus A-380. Since Nepal is a landlocked country, it can be crucial for receiving and sending out heavy cargo for the benefit of the economy, he adds. <br /> Meanwhile, the airport project has been receiving widespread backlash from environmental activists for the number of trees needed to be felled.<br /> However, Pokhrel says such criticism is pointless and against the development of the country. He shared that people have manipulated the issues and caused riots against the project. It is an exaggeration is that millions of trees have to be cut down. But in reality, there the actual number of trees that need to be chopped off is far less. According to Pokharel, around 100,000 trees need to be felled for the airport construction. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We aren't starting the project in 8,000 hectares of land. The site in the initial phase will only cover an area of 1900 hectares. Likewise, it doesn't have the dense forest as described,” he said.<br /> He added that trees and mostly bushes or shrubs need to be cleaned in the initial phase. <br /> The full-fledged construction of the airport is estimated to cost USD 3.45 billion. Earlier, the government had authorized Zurich Airport to develop the project. The Swiss company withdrew from the project last year.<br /> The government of Nepal had set an aim to develop the airport through FDI. The airport project had received investment commitment from eight investors, including Zurich International Airport, GMR group of India, and a Qatari company. </span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13031', 'image' => '20210416095607_Nijgad.jpg', 'article_date' => '2021-04-16 21:55:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13285', 'article_category_id' => '1', 'title' => 'Department of Mine seeks Qualified Companies for Excavation of Minerals ', 'sub_title' => 'Exploring Mines and Excavating Minerals to Take Place in 13 Areas ', 'summary' => 'April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal. ', 'content' => '<p><em>This file photo shows a copper mine in Myagdi district. Photo: NBA</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS"">According to the state-owned national news agency RSS, the department has issued a tender notice for excavation of five kinds of minerals. Director General at the Department, Ram Prasad Ghimire, informed that the tender notice was issued for the exploration and digging of limestone, copper, marble sand and caballine. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS further reported that limestone would be explored at Kapurkot of Salyan, and Tandranggadhi and Jurethum of Dhading, marble at Supin of Makwanpur, sand at Ghyalchowk of Gorkha, copper at Ghusa of Dhading, Okharbot of Myagdi and Agrakhola of Makwanpur, and caballine at Daman of Makwanpur.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Director General Ghimire further informed that qualified and selected national and international companies would be given permission for excavation. They need to submit proposals with 60 percent allocation on technical aspects and 40 percent on economic aspect. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13030', 'image' => '20210416032511_20210310111611_20190606013911_tamakhani2.jpg', 'article_date' => '2021-04-16 15:23:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13284', 'article_category_id' => '1', 'title' => 'Nepal Eligible to Buy Electricity from Indian Exchange Market', 'sub_title' => '', 'summary' => 'April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market. India’s Ministry for Energy has given approval to NEA to become a member of the exchange market on April 14, allowing the latter to buy electricity from the Indian market independently.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">NEA had submitted an application to receive the membership of the Indian energy exchange market. Based on the same application, NEA has been authorized to purchase electricity from the exchange market.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Meanwhile, India has not given approval to NEA to sell electricity in its market. Madan Timsina, spokesperson of NEA, said the process to receive the permit to sell electricity is underway. For now, NEA has received approval only to buy electricity. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">This approval lets NEA to import electricity from any Indian company. So far, NEA had been purchasing electricity from various companies by signing Power Purchase Agreement (PPA) with them. “No PPA is required to buy electricity from now on. NEA can import electricity from the companies trading in Indian energy market,” said Timsina, adding, “We can purchase electricity from the companies that sell it at cheaper price. In this case, if electricity is to be purchased tomorrow, purchase process needs to start today.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">However, NEA still needs to buy electricity from the National Thermal Power Corporation (NTPC) - the company authorized to trade electricity in India. India has designated NVVN, a model agency to export and import electricity to Nepal. Accordingly, electricity will be imported and exported. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Timsina informed that the process has been initiated to get approval for selling energy in the Indian market. “In this regard, India has sought for additional documents which we have already provided. We will get the permit to sell electricity as soon as the required documentation process is complete,” he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">India had presented guidelines for cross border import and export of electricity in the end of February. Based on these guidelines, electricity can be imported and exported between Nepal and India. NEA said documents requested by India have been submitted in accordance to the rules of this guideline. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Nepal will be generating surplus energy in the coming rainy season. If NEA receives the approval from India, the NEA can sell the surplus power in the Indian market. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The first unit of Upper Tamakoshi will also be generating 76 MW of electricity by mid-May. Other projects are also about to start operation and are expected to generate excess electricity. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13029', 'image' => '20210416012601_1618525909.Clipboard09.jpg', 'article_date' => '2021-04-16 13:25:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13282', 'article_category_id' => '1', 'title' => 'Government Urges Public not to Gather in Crowds in 14 Districts with High Risk of Covid-19 Infection', 'sub_title' => '', 'summary' => 'April 16: The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">April 16: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones. The Ministry of Health and Population has urged people in those districts to avoid overcrowding in public places. The ministry has also appealed to the concerned bodies to close schools and other places where people gather in large number. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The 14 districts categorized by the government as high-risk areas include Kathmandu, Lalitpur, Kaski, Rupandehi, Chitwan, Banke, Parsa, Bhaktapur, Kailali, Morang, Dang, Surkhet, Bara and Baglung districts. Issuing a statement on Thursday (April 15) , Joint Spokesperson at the Ministry of Health and Population Dr Samir Kumar Adhikari appealed to the people not to go to the crowded places in those districts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has listed schools, party palaces, shopping malls, health club, swimming pool, gyms, sports centres, cinema halls, market places and religious sites among others as places with high risk of Covid-19 transmission.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry has urged the local units to ensure all these places are shut down amid concerns of spread of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It has also ordered closure of night-time businesses and restaurants in the 14 districts after 7pm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“All the services in these 14 districts need to be shut down except for the essential ones,” reads the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Furthermore, government hospitals have been asked to allocate at least 50 per cent bed for the Covid-19 patients and provide free healthcare services to those meeting the criteria for whom the government has pledged to provide free treatment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, private hospitals have been warned not to refer Covid-19 patients to government hospitals or elsewhere. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The health ministry has also appealed the hospitals to prioritize children, expecting mothers, new mothers, senior citizens and people with disabilities when it comes to conducting the PCR test and providing treatment against coronavirus infection. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13028', 'image' => '20210416115657_1618526412.12.jpg', 'article_date' => '2021-04-16 11:56:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13283', 'article_category_id' => '1', 'title' => '136 Companies Registered in OTC Market in 5 Years', 'sub_title' => '', 'summary' => 'April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC) market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC) market. Of these, only 14 have been registered with the OTC in the current Fiscal Year (FY 2020/21).<br /> However, only about 20 companies were listed during the initial year of OTC registration.<br /> At present, shares of public companies not listed in the Nepal Stock Exchange Limited (Nepse) or removed from the Nepse list are traded through OTC.<br /> According to Chandra Singh Saud, Chief Executive Officer (CEO) of Nepse, investors are becoming aware of the increasing number of companies registering with OTC. He said that the number of registrations has increased as it is difficult for the Company Registrar's Office to keep records without registering with the OTC. The Company Registrar's Office has directed the concerned bodies to transfer and buy shares of the company through the OTC market. There has been good registration and transaction in OTC in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Hydropower companies that have not gone public have also registered with the OTC.<br /> According to Nepse, OTC has been traded 287 times in the current fiscal year alone.<br /> As the number of registration and transactions in the OTC market is increasing, Nepse has formed a committee to formulate procedures to make it more systematic.<br /> The committee formed under the coordination of Niranjan Phuyal of Nepse includes representatives of CDS and Clearing House, merchant bankers, and Company Registrar's Office.<br /> Saud informed that the committee formed about two weeks ago would amend the previous work procedure and issue it on time.<br /> "The committee is conducting a study to further develop the OTC market," he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepse had earlier said that it would start preparations to expand the OTC market across the nation.<br /> However, OTC market requires separate technology and the revenue from this business is not enough to cover the expenses, said CEO Saud. "Therefore, we have tried to move forward by discussing with all stakeholders," he added.<br /> Earlier, Nepse unveiled the work procedure by introducing the policy of OTC, but the issues including, price and tax, were not clear. “Therefore, we are working to formulate a procedure that includes all of them,” said Saud.<br /> The registration and trading of OTC in Nepse started on March 29, 2016.<br /> Maruti Cement was the first company to be traded in the OTC market, followed by Nepal Hydro Developer, Kathmandu Forestry College, Gromore Merchant Banker Limited, and others.<br /> Trading in the OTC market cannot be as effective as in the secondary market. Since such market is erratic and depends on needs, there is not much business going on. There are about 288 companies listed in Nepse. However, only 136 companies have been registered with OTC so far.<br /> <br /> Saud informed that an individuals can trade shares of the companies removed from the list of Nepse through OTC.<br /> <br /> "OTC trades only sporadically. Not all investors have been given such shares. Especially for founder shares, there is more buying and selling through certain individuals or groups," he said.<br /> <br /> The OTC market does not have to be very active. This is a kind of exit system. OTC is an easy way for shareholders to buy and sell shares within the company. As OTC depends on needs, its attraction is not like that of a Nepse-listed company.<br /> According to Nepse, share transactions globally are done through OTC, but in Nepal, there is a misconception that such transactions are done only by inferior companies. Due to such misunderstanding, many companies may not want the transaction to take place through OTC.<br /> There is a provision that shares of public companies that are not listed in Nepse or removed from Nepse's list should trade in OTC. However, to trade in the OTC market, the company should be registered with the concerned company.<br /> There is an arrangement to register the company for free in the market. However, in case of buying and selling of shares, a certain fee has to be paid to the Nepal Securities Board and the securities market. Also, capital gains tax should be paid to the Government of Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">According to the OTC Market Operation Regulations 2065, companies de-listed from Nepse can trade their securities in the OTC market. Likewise, companies not eligible for the listing can also trade their securities. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13027', 'image' => '20210416125209_My Effect.jpg', 'article_date' => '2021-04-16 12:50:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13281', 'article_category_id' => '1', 'title' => 'Lawmakers Stress Tourism-Friendly Law, Infrastructures', 'sub_title' => 'Nepal witnessed 80 percent slump in arrival of tourists due to coronavirus: NTB ', 'summary' => 'April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19 pandemic.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19 pandemic. Development of tourism is imperative to boost national economy, the state-owned national news agency RSS quoted them as saying during a panel discussion in Lower House on April 15. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Speaking at the meeting of the International Relations Committee of parliament, most of the lawmakers viewed tourism as a sector to earn foreign currency, and therefore stressed on tourism-friendly policy and strategies for the country's development. The infrastructures are equally important, they added. </span><br /> <span style="font-family:"Arial Unicode MS"">The line ministry was made aware that it could ensure autonomy to Nepal Tourism Board and mobilize it in full scale. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, lawmaker Dibya Mani Rajbhandari suggested easing one-door system of tourism service. Lawmakers Renu Gurung and Pushpa Bhushal viewed that the government could prioritize the areas that bring in more income with maximum employment in tourism. </span><br /> <span style="font-family:"Arial Unicode MS"">Naradmuni Rana was of the view that foreign tourists need to follow health protocol compulsorily. </span><br /> <span style="font-family:"Arial Unicode MS"">Pushpa Kumar Kayastha, Chandtara Kumari and others recommended the adoption of promotional strategies to bring in maximum tourists from India and China. </span><br /> <span style="font-family:"Arial Unicode MS"">At the meeting, Chief Executive of Nepal Tourism Board, Dr Dhananjay Regmi, made a presentation on 'Current Tourism: Opportunity and Challenges' and demanded adequate budget and tourism-friendly law to make tourism dynamic in the wake of Covid-19. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, Regmi shared the information that Nepal witnessed 80 percent slump in arrival of tourists due to coronavirus. So, tourism sector would take time for revival, Dr Regmi added, highlighting the need of strategic work plan to boost domestic tourism. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13026', 'image' => '20210416112622_20200421024913_20191017121120_1571271950.jpg', 'article_date' => '2021-04-16 11:25:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13280', 'article_category_id' => '1', 'title' => ' National Food Bank Formally Starts Operation', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">April 15: The newly set up office of the National Food Bank has been inaugurated at New Baneshwor on Thursday, April 15, according to the state-owned national news agency RSS. The bank was established in February by agriculture experts and scientists of Nepal with the slogan 'Sustainable Agriculture for Nutrient-Rich Food' in order to give priority to organic production. <br /> Chairperson of Bank, Shankar Nath Upreti, said that the bank was established with an objective of giving emphasis on organic production by reducing dependency on agriculture, RSS reported. <br /> The bank was established at the investment of Rs 2 billion and it has 590 promoter shareholders so far. According to the bank, preparation has been made to increase the number of promoter shareholders to 1,000. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The food bank, which is working with short-term, mid-term and long-term objectives, has given priority to the production of paddy, wheat, maize, millet, potato, mustard and nuts in the first phase. In the second phase, production of fish, meat, fruits, milk, vegetables, etc. will be emphasized and in the third phase, these products will be exported to different countries by storing, processing, grading and packaging.<br /> Upreti further said that the bank has been making preparation to issue IPO for general people soon by fulfilling all required criteria. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">"We facilitate production of and carry out trade in rice, wheat, maize, vegetables and fruits through bank. We increase production collaborating with farmers," RSS quoted Upreti as saying.<br /> The bank has made preparation to begin activities of agriculture production in 23 districts in the first phase within the current fiscal year. Six hundred bighas of land in different districts of Tarai have been taken on lease for the purpose. <br /> The bank has already started production in 13 districts including Kailali, Kanchanpur, Bardiya, Jhapa, Morang, Sunsari, Chitwan and Rupandehi taking land on lease.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The food bank was established with the objective of industrializing the agriculture sector in the near future by properly managing the necessary knowledge, skills, seeds and fertilisers required for this sector. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The bank has been established by skilled manpower, experts and agricultural scientists working in the field of agriculture.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">According to government data, Nepal has imported rice worth Rs 56 billion, lemon worth Rs 7 billion and onion worth Rs 7 billion in the last two years. Referring to this data, Chairman Upreti said that the food bank would play an important role in increasing exports by reducing imports. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13025', 'image' => '20210415061512_20210223010224_feature1609836774.jpeg', 'article_date' => '2021-04-15 18:13:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13279', 'article_category_id' => '1', 'title' => 'Transactions via QR Code Increasing', 'sub_title' => '', 'summary' => 'April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently. The report states that payments via QR code have increased by 48.94 percent in a month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the period between mid-February to mid-March, transactions worth Rs 2.5 billion were done through QR Code while there were transactions worth Rs 1.71 billion between mid-January to mid-February.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Number-wise, there were 635,732 transactions in between mid-February and mid-March while the period of mid-January to mid-February recorded 535,000 transactions through QR code. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Lately, transactions done via digital platform like connectIPS, mobile wallet, mobile banking and internet banking are on the rise. According to the central bank, transactions worth Rs 250 billion were done via connectIPS, mobile banking, internet banking, QR scan and mobile wallet in between mid-February and mid-March alone. In the month of Falgun (mid-February to mid-March), transactions done through these platforms have increased by 8.17 billion compared to the previous month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Internet banking accounted for transaction worth Rs 8.8 billion in the review period and mobile wallet contributed to transaction worth Rs 10.18 billion. In the month of Magh (mid-January to mid-February), transactions worth Rs 9.94 billion were done via mobile wallet. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Meanwhile, the volume of transaction done via ecommerce sites has declined in the month of Falgun (mid-February to mid-March) compared to the previous month. In the month of mid Jan/mid Feb, transaction worth Rs 932 billion were done while in the month of mid Feb/mid March, transaction worth Rs 904 million were done via ecommerce sites. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13024', 'image' => '20210415041410_20201209125551_1607471670.Clipboard09.jpg', 'article_date' => '2021-04-15 16:13:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '13278', 'article_category_id' => '1', 'title' => 'Import of Vehicles up by 10% Despite COVID-19 Pandemic', 'sub_title' => '', 'summary' => 'April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal year states the Current Macroeconomic and Financial Situation report released by Nepal Rastra Bank. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the last eight months of the current fiscal year, vehicles, equipment and parts worth Rs 80.44 billion have been imported against the import of Rs 72.81 billion in the review period of the last fiscal year. The annual vehicles import and their parts stood at Rs 83.82 billion in the Fiscal Year 2019/20.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">India is the largest supplier of vehicles and their parts to Nepal, accounting for Rs 66.31 billion of the total import. There has been an increase of 16.6 percent in import of vehicles from India. Nepal imports vehicles and their spare parts from India, China and third countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Meanwhile the country has imported vehicles and their parts worth Rs 305 million from China in the review period which is a decline by 23.1 percent compared to the corresponding period of the last fiscal year. Due to the border shutdown imposed by China since the outbreak of COVID-19, the overall import and export to and from China have declined in the review period of this fiscal year. The share of total imports from China has declined by 7.1 percent while export came down by 43.7 percent in the last eight months of the fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The country imported transport equipment and parts worth Rs 3.6 billion from other countries. It is a decline of 33.8 percent compared to the review period of the last fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">COVID-19 pandemic brought economic activities to a halt all over the world. The first three months of the lockdown imposed by the Government of Nepal slowed down all kinds of economic activities. After the government lifted lockdown, the impacts of COVID-19 started to decline and economic activities also gathered pace. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“As soon as COVID-19 restrictions were lifted, the auto business also picked up pace. People were looking for areas of investment and banks were also providing auto loans at low interest rates which boosted the sales leading to rise in vehicles import,” says Sunil Rijal, secretary general of Nepal Automobiles Dealers Association (NADA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to Rijal, the two-wheeler segment has recorded highest sales followed by cars. However, sales of buses have recorded a huge decline.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13023', 'image' => '20210415041210_20190311041537_1x.jpg', 'article_date' => '2021-04-15 16:10:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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' => '13292', 'article_category_id' => '1', 'title' => 'Insurance Board to Seek Clarification from Agrawal', 'sub_title' => '', 'summary' => 'April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal, who has been suspended from his post for investing in the share market against the investment guidelines set by the board. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">The Insurance Board, the regulatory body of insurance companies in Nepal, had suspended Agrawal from the board member of the company last Friday (April 16).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Executive Director of Insurance Board, Raju Raman Poudel, confirmed that the board is making preparations to seek clarification from Agrawal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We had temporarily removed him from the company’s board a few days ago for investing in the share market by breaching the investment guidelines. Now we will soon seek clarification from him,” Poudel told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“If we do not get a satisfactory answer, we can initiate the process to relieve him off his duties,” added Poudel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">During a field inspection, the Insurance Board found that the company had made investment against the Investment Guidelines 2075. The board decided to take action accordingly. Agrawal is not only a board member of the company but also the coordinator of the investment committee of the company. The Investment Board has concluded that the insurance company was involved in fraudulent investment at the behest of Agrawal.</span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13037', 'image' => '20210419093930_20200825040928_bima_samiti.jpg', 'article_date' => '2021-04-19 09:38:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13291', 'article_category_id' => '1', 'title' => 'Govt to Unveil New Programmes in Agriculture ', 'sub_title' => '', 'summary' => 'April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">During a programme organised at the ministry to discuss about the budget as well as policies and programmes for the upcoming fiscal year 2021/22, Minister Aryal said that some programmes in agriculture and animal husbandry sector could not be continued but new programmes would be run in an efficient way, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, parliamentarians present at the programme laid emphasis on enhancing production and use of organic fertilizer. They also demanded subsidy in agriculture. </span><br /> <span style="font-family:"Arial Unicode MS"">The MPs also drew the attention of the government to reduce risk from possible disaster and to make arrangements for distributing budget amount only from the local levels and ensure effective insurance scheme in agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS"">Lawmakers Khagaraj Adhikari, Bidya Bhattarai, Sujita Shakya, Maya Gyawali, Shanti Pakhrin, Komal Oli, Thammaya Thapa Magar and Dal Bahadur Rana were present on the occasion. </span></span></span></p> <p><span style="font-size:16px"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai.jpg" style="height:723px; width:800px" /></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13036', 'image' => '20210419091906_20201109032251_Clipboard02.jpg', 'article_date' => '2021-04-19 09:18:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13290', 'article_category_id' => '1', 'title' => 'Banks Demand Collateral Even for Concessional Loans', 'sub_title' => '', 'summary' => 'April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan. Bank and Financial Institutions (BFIs) have only disbursed 1.8 percent of the total concessional loan issued for agriculture at a subsidized interest rate of 5 percent as of mid-February. According to Nepal Rastra Bank, a total of Rs 88.29 billion have been distributed under the concessional loan category. Out of this, only Rs 1.60 billion have been distributed without collateral. The remaining Rs 86.69 billion has been disbursed by keeping collateral.<br /> As of mid-February, 38,355 people have benefited from the commercial farming and livestock loans at subsidized rate. A total of 2,542 people took such loans in between mid-January to mid-February. Although the credit flow without collateral is low, the number of borrowers and the total credit flow to the agricultural sector has increased.<br /> Government-owned banks are in the forefront in providing agricultural loans without any collateral. Agriculture Development Bank is in the top list of banks providing such loans. Out of the total loan of Rs 1.60 billion disbursed by banks without any collateral, the Agriculture Development Bank alone has released more than Rs 1 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times"> Hemal Poudyal, the spokesperson of Agriculture Development Bank, said that the bank disbursed between Rs 500,000 to Rs 1.5 million to around 1,600 people without collateral. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"As it is a state program, we have given collateral-free loans even if there is risk of loss," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">There is an arrangement for BFIs to allocate loans of Rs 300,000 to Rs 50 million under various headings. Banks can give up to Rs 50 million of such loans to the agriculture sector. Chairman of Nepal Bankers' Association Bhuvan Kumar Dahal informed that those who do not want to pay the loan or cannot do so often do not have collateral.<br /> Manoj Gyawali, Deputy General Manager of Nabil Bank, admits that it is natural for the banks not to disburse loans without collateral.<br /> "Banks do not want to risk their investment by disbursing loans without collateral," he said. "According to the NRB's provision, each branch of commercial banks has to give ten concessional loans, that is 500 loans per year," said Gyawali. Banks try to provide such loans on collateral. He said that the central bank has not barred them from keeping collateral for providing concessional loans.<br /> As of mid-February, BFIs have disbursed concessional loans to 77,198 borrowers under ten headings. Banks are yet to recover Rs 124.28 billion from the borrowers. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Apart from agriculture and livestock loans, BFIs have allocated most of the loans to women entrepreneurs. Banks have been providing concessional loans to women entrepreneurs at a subsidized interest rate of 6 percent.<br /> By mid-February, the number of women entrepreneurs taking women entrepreneurship loans from banks and financial institutions has reached 36,763. The NRB informed that loans amounting to Rs 32.95 billion have been disbursed during this period. In January, the number of such debtors was 30,465. During this period, loans amounting to Rs 27.05 billion was released.<br /> Under the concessional loan for education, 132 people have received Rs 61 million in the first eight months of the current fiscal year.<br /> Bankers argue that it is risky to give loans to young students by keeping their certificates as collateral.<br /> Under the heading of youth project loans for returnee migrant workers, 671 people are yet to pay back Rs 513.7 million. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Likewise, BFIs have released loans under the Dalit Community Business Development Loan to 733 individuals. The debt stands at Rs 456 million.<br /> So far, 88 people have received loans under higher education and technical and vocational education loans. There arrears is Rs 33.3 million. The flow of loan under this category has not increased encouragingly since January.<br /> The number of earthquake victims who have taken loans to build private houses has also increased.<br /> The number of such debtors has increased from 238 in January to 237 in February.<br /> Likewise, 205 industrialists have availed the concessional loan given by the government to promote the textile industries. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13035', 'image' => '20210418070636_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-04-18 19:05:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13289', 'article_category_id' => '1', 'title' => 'Contributors to SSF to get Discount on Treatment at Hospitals ', 'sub_title' => '', 'summary' => 'April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. SSF is making necessary preparations to provide discount on treatment at the hospitals from July to make the social security programme more effective. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to the SSF, until now contributors used to get the payment claims only after submitting necessary bills. After receiving complaints that this process is full of hassles, SSF has made all required preparations to provide 80 percent discount on the treatment at the hospital itself. Once this service is available, contributors to SSF will have to pay only 20 percent for the treatment that costs up to Rs 100,000.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kapil Mani Gyawali, executive director of the SSF said, “Contributors need not visit SSF office to claim the treatment amount. We are working to provide this facility directly from the hospital.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to him, SSF is in the process of signing agreements with the hospitals to this end. So far, agreements have been signed with about 105 hospitals in the provinces, including Kathmandu Valley. SSF has signed agreements with twenty hospitals in Province 1, sixteen in Province 2, twenty in Bagmati Province, eight in Gandaki Province, fourteen in Lumbini Province, ten in Karnali Province and seventeen in the Sudur Paschim Province. The list also includes TU Teaching Hospital and Bir Hospital of Kathmandu valley. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">SSF had planned to sign agreements with at least ten hospitals in each province. But it has exceeded its target under this plan. “We are planning to bring hospitals across the country under this plan and start giving service from July if the second wave of cornonavirus doesn’t affect this process,” said Gyawali.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Hospitals that have signed agreement with the SSF get the discount payment provided to contributors after they makes the claims with the SSF. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, SSF is making its programmes reasonable and practical to attract more employees. SSF which came into operation from 27<sup>th</sup> November, 2018 has 13,800 contributors. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13034', 'image' => '20210418023111_20191104101107_20190129043642_a.jpg', 'article_date' => '2021-04-18 14:30:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13288', 'article_category_id' => '1', 'title' => 'Digital Transformation Requires Stepped-Up Security Measures ', 'sub_title' => '', 'summary' => 'April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. A huge chunk of population has started doing digital transactions following the lockdown that restricted physical movement. There has been a sharp rise in the number of transactions done through electronic and internet platforms. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In the month of Shrawan 2077 (mid July/mid Aug 2020), transaction worth Rs 18.39 billion took place through mobile banking. Number of such transactions has increased to Rs 40.35 billion in the month of Chaitra (mid Feb/mid March). Likewise, transactions worth Rs 51.3 billion were done through connectIPS in the month of Shrawan (mid July/mid Aug) which went up to Rs 110 billion in the month of Chaitra (mid Feb/mid March).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The growth in the digital transactions is positive news for all the electronic service providers but with this growth also comes digital risks like data loss, identity theft, and financial loss. In this context, Rebati Adhikari of New Business Age talked with Prabesh Poudel, Information Security Officer (ISO) at Nabil Bank to seek his views on importance of digital security in banking sector. Excerpts:</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">With increase in digital banking, how important is digital security? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Today, in one form or another, every bank is on the path to digital transformations, with digital payments moving ahead at high speed. But a</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">t the same time, in the lack of proper security controls in place, there are chances that banks could suffer major service failures due to their inability to manage digital risk. So, while we talk about digital transformation, security transformation cannot be left behind but must go hand in hand. </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In this new digital world, the implementation of new digital technology not only requires system implementation but also requires focus on areas related to digital security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of security measures banks should employ to ensure digital security?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">A complete security strategy has to be in place to protect information assets. Security has to be looked from different aspects such as secured technology infrastructure, on-going security assessment, on-going security monitoring and most importantly security culture. All these have to be guided by strong policies and procedures. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Threat actors have shifted efforts to target end users by exploiting user behavior by misleading users into opening and executing a malicious file, going to a malicious site or handing over information, typically using lures which create urgency (eg lottery payment) or leverage current crises and events (eg covid fund).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So in this scenario, one of the challenging things in today’s context specially in the case of Nepal is security awareness. So, only secured system will not help in strengthening information security, but user awareness is as important as that. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Is banking sector experiencing more risks from mobile banking apps? What should be done to minimize it? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security threats exist everywhere be it traditional banking or modern banking with digital channels, but how you take the precautions is something that plays the major role.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Yes, with a mobile app there are potential vulnerabilities related to the security of the app itself, vulnerabilities in code and also potential vulnerabilities related to the transmission of information. In addition, threats coming from unawareness of the consumers is even more critical. There have been instances in Nepal in which mobile banking users are found to have shared their password/OTP with fraudsters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So to list some of the preventive measures, before installing any mobile app, complete vendor assessment ie assessment of technology service provider is very important. This should be followed by VAPT (Vulnerability Assessment and Penetration Testing) of system itself to ensure system is secured before LIVE implementation. But it does not end here because security is an on-going process as new threats are evolving day by day, so an on-going security assessment, security monitoring, security awareness to consumers is a must. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can use a security awareness training program to educate their employees as well as customers about the importance of data security. Say for example when Multi Factor Authentication is implemented in any system, customers should also be aware of its importance so that he doesn’t share password/OTP with anyone with wrong intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So, it’s no longer about just the individual components of security framework. Focus must be on how they are orchestrated to build a more effective security posture.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of mechanism should bank set up to monitor/respond to cyber threats? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security monitoring is one of the important components of information security and the best way to do is by establishment of Security Operations Centre (SOC), which includes a team of security experts and the facility in which they dedicate themselves entirely for monitoring, analyzing and reporting information. A SOC team monitors cyber security threats on the basis of logs from various critical system 24/7 and detects and responds to any security incidents it oversees and then alerts the bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can establish SOC in-house with their own team or may outsource it to professional and reliable third-party. There are multiple companies in Nepal that have been providing ‘Managed SOC’ service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of significance information security audit holds?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Information security audit will help in comprehensive assessment of a bank’s information system and can help identify system weakness and vulnerabilities in IT infrastructure. In addition, it also verifies the bank’s policies and procedures, security controls, ensures regulatory compliance and many more.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Such audit will definitely help in continual improvement of security posture of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, the most important thing while conducting such external audit is to ensure such audit firm comprises of professional team with enough experience, expertise and standard certification like CISA/ISO 27001 etc for conducting information security audit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13033', 'image' => '20210418021204_iStock-514571236-768x508.jpg', 'article_date' => '2021-04-18 14:10:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13287', 'article_category_id' => '1', 'title' => ' Kathmandu Denizens getting 140 Million Litres of Drinking Water from Melamchi Project ', 'sub_title' => '', 'summary' => 'April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily basis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily basis, according to a news report prepared by the state-owned national news agency RSS. </span><br /> <span style="font-family:"Arial Unicode MS"">The project has started formally distributing water to the dwellers of Kathmandu after President Bidya Devi Bhandari inaugurated the water distribution tap in Kathmandu some time ago. </span><br /> <span style="font-family:"Arial Unicode MS"">The project supplied about 80 million liters of water in the trial phase until last week and has now officially started distributing 10 million litres of water. </span><br /> <span style="font-family:"Arial Unicode MS"">According to the spokesperson of Melamchi Water Supply Development Committee, Rajendra Panta, the project has begun distributing 140 million litres daily from April 15 and will be increased the water supply up to 170 million litres very soon. </span><br /> <span style="font-family:"Arial Unicode MS"">Giving reference to Panta, RSS said that both of the water-processing plants in Sundarijal have come into operation. The project has been distributing water from Mahankal, Balaju, Lazimpat, Anamnagar, Panipokhari, Minbhawan and Khumaltar water depots. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, water supply would be soon extended to other depots in Thimi, Kirtipur. Nine water ponds and 1,100 kms long distribution system is being development in the Kathmandu valley for the distribution of water.</span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13032', 'image' => '20210418110118_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-04-18 11:00:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13286', 'article_category_id' => '1', 'title' => 'There is no Alternative to Nijgad International Airport: CAAN Director General ', 'sub_title' => '', 'summary' => 'April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation industry.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation industry.<br /> According to Pokhrel, none of the existing airports including Tribhuvan International Airport (TIA), Gautam Buddha International Airport (GBIA), and Pokhara International Airport (PIA) can hold the growing air traffic in the future.<br /> Director-General Pokharel shared that the air traffic in Nepal and the Asia Pacific region has grown immensely. It will continue to grow further after the Covid-19 situation improves, he added.<br /> However, he opines that neither TIA nor the under-construction national pride projects GBIA and PIA will have enough capacity to hold the increasing flow of aircraft. <br /> The air traffic will grow immensely in contrary to the space of these airports. The airports won't have enough space to cope with the traffic, Pokharel told New Business Age.<br /> He added that none of the three airports are expandable due to the space limitation of the airports.<br /> Neither of TIA, on construction GBIA and PIA, have space for further expansion.<br /> However, Nijgadh International Airport is capable of dealing with the projected traffic growth, he shared.<br /> According to Pokharel, Nijgadh International Airport is best suited to cope with the air traffic pressure because of its location and availability of space. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"The proposed airport project is close to the capital - only 75 km away through the under-construction fast track. Likewise, the project covers 1,900 hectares of land which is expandable to 8,000 more hectares, to the full capacity," informed Pokharel.<br /> The proposed airport in Nijgad has multiple advantages. The airport will handle jumbo-jets, including the largest passenger aircraft Airbus A-380. Since Nepal is a landlocked country, it can be crucial for receiving and sending out heavy cargo for the benefit of the economy, he adds. <br /> Meanwhile, the airport project has been receiving widespread backlash from environmental activists for the number of trees needed to be felled.<br /> However, Pokhrel says such criticism is pointless and against the development of the country. He shared that people have manipulated the issues and caused riots against the project. It is an exaggeration is that millions of trees have to be cut down. But in reality, there the actual number of trees that need to be chopped off is far less. According to Pokharel, around 100,000 trees need to be felled for the airport construction. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We aren't starting the project in 8,000 hectares of land. The site in the initial phase will only cover an area of 1900 hectares. Likewise, it doesn't have the dense forest as described,” he said.<br /> He added that trees and mostly bushes or shrubs need to be cleaned in the initial phase. <br /> The full-fledged construction of the airport is estimated to cost USD 3.45 billion. Earlier, the government had authorized Zurich Airport to develop the project. The Swiss company withdrew from the project last year.<br /> The government of Nepal had set an aim to develop the airport through FDI. The airport project had received investment commitment from eight investors, including Zurich International Airport, GMR group of India, and a Qatari company. </span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13031', 'image' => '20210416095607_Nijgad.jpg', 'article_date' => '2021-04-16 21:55:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13285', 'article_category_id' => '1', 'title' => 'Department of Mine seeks Qualified Companies for Excavation of Minerals ', 'sub_title' => 'Exploring Mines and Excavating Minerals to Take Place in 13 Areas ', 'summary' => 'April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal. ', 'content' => '<p><em>This file photo shows a copper mine in Myagdi district. Photo: NBA</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS"">According to the state-owned national news agency RSS, the department has issued a tender notice for excavation of five kinds of minerals. Director General at the Department, Ram Prasad Ghimire, informed that the tender notice was issued for the exploration and digging of limestone, copper, marble sand and caballine. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS further reported that limestone would be explored at Kapurkot of Salyan, and Tandranggadhi and Jurethum of Dhading, marble at Supin of Makwanpur, sand at Ghyalchowk of Gorkha, copper at Ghusa of Dhading, Okharbot of Myagdi and Agrakhola of Makwanpur, and caballine at Daman of Makwanpur.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Director General Ghimire further informed that qualified and selected national and international companies would be given permission for excavation. They need to submit proposals with 60 percent allocation on technical aspects and 40 percent on economic aspect. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13030', 'image' => '20210416032511_20210310111611_20190606013911_tamakhani2.jpg', 'article_date' => '2021-04-16 15:23:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13284', 'article_category_id' => '1', 'title' => 'Nepal Eligible to Buy Electricity from Indian Exchange Market', 'sub_title' => '', 'summary' => 'April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market. India’s Ministry for Energy has given approval to NEA to become a member of the exchange market on April 14, allowing the latter to buy electricity from the Indian market independently.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">NEA had submitted an application to receive the membership of the Indian energy exchange market. Based on the same application, NEA has been authorized to purchase electricity from the exchange market.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Meanwhile, India has not given approval to NEA to sell electricity in its market. Madan Timsina, spokesperson of NEA, said the process to receive the permit to sell electricity is underway. For now, NEA has received approval only to buy electricity. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">This approval lets NEA to import electricity from any Indian company. So far, NEA had been purchasing electricity from various companies by signing Power Purchase Agreement (PPA) with them. “No PPA is required to buy electricity from now on. NEA can import electricity from the companies trading in Indian energy market,” said Timsina, adding, “We can purchase electricity from the companies that sell it at cheaper price. In this case, if electricity is to be purchased tomorrow, purchase process needs to start today.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">However, NEA still needs to buy electricity from the National Thermal Power Corporation (NTPC) - the company authorized to trade electricity in India. India has designated NVVN, a model agency to export and import electricity to Nepal. Accordingly, electricity will be imported and exported. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Timsina informed that the process has been initiated to get approval for selling energy in the Indian market. “In this regard, India has sought for additional documents which we have already provided. We will get the permit to sell electricity as soon as the required documentation process is complete,” he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">India had presented guidelines for cross border import and export of electricity in the end of February. Based on these guidelines, electricity can be imported and exported between Nepal and India. NEA said documents requested by India have been submitted in accordance to the rules of this guideline. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Nepal will be generating surplus energy in the coming rainy season. If NEA receives the approval from India, the NEA can sell the surplus power in the Indian market. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The first unit of Upper Tamakoshi will also be generating 76 MW of electricity by mid-May. Other projects are also about to start operation and are expected to generate excess electricity. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13029', 'image' => '20210416012601_1618525909.Clipboard09.jpg', 'article_date' => '2021-04-16 13:25:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13282', 'article_category_id' => '1', 'title' => 'Government Urges Public not to Gather in Crowds in 14 Districts with High Risk of Covid-19 Infection', 'sub_title' => '', 'summary' => 'April 16: The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">April 16: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones. The Ministry of Health and Population has urged people in those districts to avoid overcrowding in public places. The ministry has also appealed to the concerned bodies to close schools and other places where people gather in large number. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The 14 districts categorized by the government as high-risk areas include Kathmandu, Lalitpur, Kaski, Rupandehi, Chitwan, Banke, Parsa, Bhaktapur, Kailali, Morang, Dang, Surkhet, Bara and Baglung districts. Issuing a statement on Thursday (April 15) , Joint Spokesperson at the Ministry of Health and Population Dr Samir Kumar Adhikari appealed to the people not to go to the crowded places in those districts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has listed schools, party palaces, shopping malls, health club, swimming pool, gyms, sports centres, cinema halls, market places and religious sites among others as places with high risk of Covid-19 transmission.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry has urged the local units to ensure all these places are shut down amid concerns of spread of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It has also ordered closure of night-time businesses and restaurants in the 14 districts after 7pm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“All the services in these 14 districts need to be shut down except for the essential ones,” reads the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Furthermore, government hospitals have been asked to allocate at least 50 per cent bed for the Covid-19 patients and provide free healthcare services to those meeting the criteria for whom the government has pledged to provide free treatment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, private hospitals have been warned not to refer Covid-19 patients to government hospitals or elsewhere. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The health ministry has also appealed the hospitals to prioritize children, expecting mothers, new mothers, senior citizens and people with disabilities when it comes to conducting the PCR test and providing treatment against coronavirus infection. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13028', 'image' => '20210416115657_1618526412.12.jpg', 'article_date' => '2021-04-16 11:56:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13283', 'article_category_id' => '1', 'title' => '136 Companies Registered in OTC Market in 5 Years', 'sub_title' => '', 'summary' => 'April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC) market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC) market. Of these, only 14 have been registered with the OTC in the current Fiscal Year (FY 2020/21).<br /> However, only about 20 companies were listed during the initial year of OTC registration.<br /> At present, shares of public companies not listed in the Nepal Stock Exchange Limited (Nepse) or removed from the Nepse list are traded through OTC.<br /> According to Chandra Singh Saud, Chief Executive Officer (CEO) of Nepse, investors are becoming aware of the increasing number of companies registering with OTC. He said that the number of registrations has increased as it is difficult for the Company Registrar's Office to keep records without registering with the OTC. The Company Registrar's Office has directed the concerned bodies to transfer and buy shares of the company through the OTC market. There has been good registration and transaction in OTC in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Hydropower companies that have not gone public have also registered with the OTC.<br /> According to Nepse, OTC has been traded 287 times in the current fiscal year alone.<br /> As the number of registration and transactions in the OTC market is increasing, Nepse has formed a committee to formulate procedures to make it more systematic.<br /> The committee formed under the coordination of Niranjan Phuyal of Nepse includes representatives of CDS and Clearing House, merchant bankers, and Company Registrar's Office.<br /> Saud informed that the committee formed about two weeks ago would amend the previous work procedure and issue it on time.<br /> "The committee is conducting a study to further develop the OTC market," he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepse had earlier said that it would start preparations to expand the OTC market across the nation.<br /> However, OTC market requires separate technology and the revenue from this business is not enough to cover the expenses, said CEO Saud. "Therefore, we have tried to move forward by discussing with all stakeholders," he added.<br /> Earlier, Nepse unveiled the work procedure by introducing the policy of OTC, but the issues including, price and tax, were not clear. “Therefore, we are working to formulate a procedure that includes all of them,” said Saud.<br /> The registration and trading of OTC in Nepse started on March 29, 2016.<br /> Maruti Cement was the first company to be traded in the OTC market, followed by Nepal Hydro Developer, Kathmandu Forestry College, Gromore Merchant Banker Limited, and others.<br /> Trading in the OTC market cannot be as effective as in the secondary market. Since such market is erratic and depends on needs, there is not much business going on. There are about 288 companies listed in Nepse. However, only 136 companies have been registered with OTC so far.<br /> <br /> Saud informed that an individuals can trade shares of the companies removed from the list of Nepse through OTC.<br /> <br /> "OTC trades only sporadically. Not all investors have been given such shares. Especially for founder shares, there is more buying and selling through certain individuals or groups," he said.<br /> <br /> The OTC market does not have to be very active. This is a kind of exit system. OTC is an easy way for shareholders to buy and sell shares within the company. As OTC depends on needs, its attraction is not like that of a Nepse-listed company.<br /> According to Nepse, share transactions globally are done through OTC, but in Nepal, there is a misconception that such transactions are done only by inferior companies. Due to such misunderstanding, many companies may not want the transaction to take place through OTC.<br /> There is a provision that shares of public companies that are not listed in Nepse or removed from Nepse's list should trade in OTC. However, to trade in the OTC market, the company should be registered with the concerned company.<br /> There is an arrangement to register the company for free in the market. However, in case of buying and selling of shares, a certain fee has to be paid to the Nepal Securities Board and the securities market. Also, capital gains tax should be paid to the Government of Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">According to the OTC Market Operation Regulations 2065, companies de-listed from Nepse can trade their securities in the OTC market. Likewise, companies not eligible for the listing can also trade their securities. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13027', 'image' => '20210416125209_My Effect.jpg', 'article_date' => '2021-04-16 12:50:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13281', 'article_category_id' => '1', 'title' => 'Lawmakers Stress Tourism-Friendly Law, Infrastructures', 'sub_title' => 'Nepal witnessed 80 percent slump in arrival of tourists due to coronavirus: NTB ', 'summary' => 'April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19 pandemic.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19 pandemic. Development of tourism is imperative to boost national economy, the state-owned national news agency RSS quoted them as saying during a panel discussion in Lower House on April 15. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Speaking at the meeting of the International Relations Committee of parliament, most of the lawmakers viewed tourism as a sector to earn foreign currency, and therefore stressed on tourism-friendly policy and strategies for the country's development. The infrastructures are equally important, they added. </span><br /> <span style="font-family:"Arial Unicode MS"">The line ministry was made aware that it could ensure autonomy to Nepal Tourism Board and mobilize it in full scale. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, lawmaker Dibya Mani Rajbhandari suggested easing one-door system of tourism service. Lawmakers Renu Gurung and Pushpa Bhushal viewed that the government could prioritize the areas that bring in more income with maximum employment in tourism. </span><br /> <span style="font-family:"Arial Unicode MS"">Naradmuni Rana was of the view that foreign tourists need to follow health protocol compulsorily. </span><br /> <span style="font-family:"Arial Unicode MS"">Pushpa Kumar Kayastha, Chandtara Kumari and others recommended the adoption of promotional strategies to bring in maximum tourists from India and China. </span><br /> <span style="font-family:"Arial Unicode MS"">At the meeting, Chief Executive of Nepal Tourism Board, Dr Dhananjay Regmi, made a presentation on 'Current Tourism: Opportunity and Challenges' and demanded adequate budget and tourism-friendly law to make tourism dynamic in the wake of Covid-19. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, Regmi shared the information that Nepal witnessed 80 percent slump in arrival of tourists due to coronavirus. So, tourism sector would take time for revival, Dr Regmi added, highlighting the need of strategic work plan to boost domestic tourism. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13026', 'image' => '20210416112622_20200421024913_20191017121120_1571271950.jpg', 'article_date' => '2021-04-16 11:25:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13280', 'article_category_id' => '1', 'title' => ' National Food Bank Formally Starts Operation', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">April 15: The newly set up office of the National Food Bank has been inaugurated at New Baneshwor on Thursday, April 15, according to the state-owned national news agency RSS. The bank was established in February by agriculture experts and scientists of Nepal with the slogan 'Sustainable Agriculture for Nutrient-Rich Food' in order to give priority to organic production. <br /> Chairperson of Bank, Shankar Nath Upreti, said that the bank was established with an objective of giving emphasis on organic production by reducing dependency on agriculture, RSS reported. <br /> The bank was established at the investment of Rs 2 billion and it has 590 promoter shareholders so far. According to the bank, preparation has been made to increase the number of promoter shareholders to 1,000. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The food bank, which is working with short-term, mid-term and long-term objectives, has given priority to the production of paddy, wheat, maize, millet, potato, mustard and nuts in the first phase. In the second phase, production of fish, meat, fruits, milk, vegetables, etc. will be emphasized and in the third phase, these products will be exported to different countries by storing, processing, grading and packaging.<br /> Upreti further said that the bank has been making preparation to issue IPO for general people soon by fulfilling all required criteria. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">"We facilitate production of and carry out trade in rice, wheat, maize, vegetables and fruits through bank. We increase production collaborating with farmers," RSS quoted Upreti as saying.<br /> The bank has made preparation to begin activities of agriculture production in 23 districts in the first phase within the current fiscal year. Six hundred bighas of land in different districts of Tarai have been taken on lease for the purpose. <br /> The bank has already started production in 13 districts including Kailali, Kanchanpur, Bardiya, Jhapa, Morang, Sunsari, Chitwan and Rupandehi taking land on lease.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The food bank was established with the objective of industrializing the agriculture sector in the near future by properly managing the necessary knowledge, skills, seeds and fertilisers required for this sector. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The bank has been established by skilled manpower, experts and agricultural scientists working in the field of agriculture.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">According to government data, Nepal has imported rice worth Rs 56 billion, lemon worth Rs 7 billion and onion worth Rs 7 billion in the last two years. Referring to this data, Chairman Upreti said that the food bank would play an important role in increasing exports by reducing imports. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13025', 'image' => '20210415061512_20210223010224_feature1609836774.jpeg', 'article_date' => '2021-04-15 18:13:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13279', 'article_category_id' => '1', 'title' => 'Transactions via QR Code Increasing', 'sub_title' => '', 'summary' => 'April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently. The report states that payments via QR code have increased by 48.94 percent in a month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the period between mid-February to mid-March, transactions worth Rs 2.5 billion were done through QR Code while there were transactions worth Rs 1.71 billion between mid-January to mid-February.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Number-wise, there were 635,732 transactions in between mid-February and mid-March while the period of mid-January to mid-February recorded 535,000 transactions through QR code. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Lately, transactions done via digital platform like connectIPS, mobile wallet, mobile banking and internet banking are on the rise. According to the central bank, transactions worth Rs 250 billion were done via connectIPS, mobile banking, internet banking, QR scan and mobile wallet in between mid-February and mid-March alone. In the month of Falgun (mid-February to mid-March), transactions done through these platforms have increased by 8.17 billion compared to the previous month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Internet banking accounted for transaction worth Rs 8.8 billion in the review period and mobile wallet contributed to transaction worth Rs 10.18 billion. In the month of Magh (mid-January to mid-February), transactions worth Rs 9.94 billion were done via mobile wallet. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Meanwhile, the volume of transaction done via ecommerce sites has declined in the month of Falgun (mid-February to mid-March) compared to the previous month. In the month of mid Jan/mid Feb, transaction worth Rs 932 billion were done while in the month of mid Feb/mid March, transaction worth Rs 904 million were done via ecommerce sites. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13024', 'image' => '20210415041410_20201209125551_1607471670.Clipboard09.jpg', 'article_date' => '2021-04-15 16:13:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '13278', 'article_category_id' => '1', 'title' => 'Import of Vehicles up by 10% Despite COVID-19 Pandemic', 'sub_title' => '', 'summary' => 'April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal year states the Current Macroeconomic and Financial Situation report released by Nepal Rastra Bank. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the last eight months of the current fiscal year, vehicles, equipment and parts worth Rs 80.44 billion have been imported against the import of Rs 72.81 billion in the review period of the last fiscal year. The annual vehicles import and their parts stood at Rs 83.82 billion in the Fiscal Year 2019/20.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">India is the largest supplier of vehicles and their parts to Nepal, accounting for Rs 66.31 billion of the total import. There has been an increase of 16.6 percent in import of vehicles from India. Nepal imports vehicles and their spare parts from India, China and third countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Meanwhile the country has imported vehicles and their parts worth Rs 305 million from China in the review period which is a decline by 23.1 percent compared to the corresponding period of the last fiscal year. Due to the border shutdown imposed by China since the outbreak of COVID-19, the overall import and export to and from China have declined in the review period of this fiscal year. The share of total imports from China has declined by 7.1 percent while export came down by 43.7 percent in the last eight months of the fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The country imported transport equipment and parts worth Rs 3.6 billion from other countries. It is a decline of 33.8 percent compared to the review period of the last fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">COVID-19 pandemic brought economic activities to a halt all over the world. The first three months of the lockdown imposed by the Government of Nepal slowed down all kinds of economic activities. After the government lifted lockdown, the impacts of COVID-19 started to decline and economic activities also gathered pace. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“As soon as COVID-19 restrictions were lifted, the auto business also picked up pace. People were looking for areas of investment and banks were also providing auto loans at low interest rates which boosted the sales leading to rise in vehicles import,” says Sunil Rijal, secretary general of Nepal Automobiles Dealers Association (NADA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to Rijal, the two-wheeler segment has recorded highest sales followed by cars. However, sales of buses have recorded a huge decline.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13023', 'image' => '20210415041210_20190311041537_1x.jpg', 'article_date' => '2021-04-15 16:10:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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' => '13292', 'article_category_id' => '1', 'title' => 'Insurance Board to Seek Clarification from Agrawal', 'sub_title' => '', 'summary' => 'April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">April 19: Insurance Board is preparing to seek clarification from the operator of General Insurance Company Dipendra Agrawal, who has been suspended from his post for investing in the share market against the investment guidelines set by the board. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">The Insurance Board, the regulatory body of insurance companies in Nepal, had suspended Agrawal from the board member of the company last Friday (April 16).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Executive Director of Insurance Board, Raju Raman Poudel, confirmed that the board is making preparations to seek clarification from Agrawal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We had temporarily removed him from the company’s board a few days ago for investing in the share market by breaching the investment guidelines. Now we will soon seek clarification from him,” Poudel told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“If we do not get a satisfactory answer, we can initiate the process to relieve him off his duties,” added Poudel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">During a field inspection, the Insurance Board found that the company had made investment against the Investment Guidelines 2075. The board decided to take action accordingly. Agrawal is not only a board member of the company but also the coordinator of the investment committee of the company. The Investment Board has concluded that the insurance company was involved in fraudulent investment at the behest of Agrawal.</span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13037', 'image' => '20210419093930_20200825040928_bima_samiti.jpg', 'article_date' => '2021-04-19 09:38:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13291', 'article_category_id' => '1', 'title' => 'Govt to Unveil New Programmes in Agriculture ', 'sub_title' => '', 'summary' => 'April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">During a programme organised at the ministry to discuss about the budget as well as policies and programmes for the upcoming fiscal year 2021/22, Minister Aryal said that some programmes in agriculture and animal husbandry sector could not be continued but new programmes would be run in an efficient way, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, parliamentarians present at the programme laid emphasis on enhancing production and use of organic fertilizer. They also demanded subsidy in agriculture. </span><br /> <span style="font-family:"Arial Unicode MS"">The MPs also drew the attention of the government to reduce risk from possible disaster and to make arrangements for distributing budget amount only from the local levels and ensure effective insurance scheme in agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS"">Lawmakers Khagaraj Adhikari, Bidya Bhattarai, Sujita Shakya, Maya Gyawali, Shanti Pakhrin, Komal Oli, Thammaya Thapa Magar and Dal Bahadur Rana were present on the occasion. </span></span></span></p> <p><span style="font-size:16px"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai.jpg" style="height:723px; width:800px" /></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13036', 'image' => '20210419091906_20201109032251_Clipboard02.jpg', 'article_date' => '2021-04-19 09:18:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13290', 'article_category_id' => '1', 'title' => 'Banks Demand Collateral Even for Concessional Loans', 'sub_title' => '', 'summary' => 'April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan. Bank and Financial Institutions (BFIs) have only disbursed 1.8 percent of the total concessional loan issued for agriculture at a subsidized interest rate of 5 percent as of mid-February. According to Nepal Rastra Bank, a total of Rs 88.29 billion have been distributed under the concessional loan category. Out of this, only Rs 1.60 billion have been distributed without collateral. The remaining Rs 86.69 billion has been disbursed by keeping collateral.<br /> As of mid-February, 38,355 people have benefited from the commercial farming and livestock loans at subsidized rate. A total of 2,542 people took such loans in between mid-January to mid-February. Although the credit flow without collateral is low, the number of borrowers and the total credit flow to the agricultural sector has increased.<br /> Government-owned banks are in the forefront in providing agricultural loans without any collateral. Agriculture Development Bank is in the top list of banks providing such loans. Out of the total loan of Rs 1.60 billion disbursed by banks without any collateral, the Agriculture Development Bank alone has released more than Rs 1 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times"> Hemal Poudyal, the spokesperson of Agriculture Development Bank, said that the bank disbursed between Rs 500,000 to Rs 1.5 million to around 1,600 people without collateral. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"As it is a state program, we have given collateral-free loans even if there is risk of loss," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">There is an arrangement for BFIs to allocate loans of Rs 300,000 to Rs 50 million under various headings. Banks can give up to Rs 50 million of such loans to the agriculture sector. Chairman of Nepal Bankers' Association Bhuvan Kumar Dahal informed that those who do not want to pay the loan or cannot do so often do not have collateral.<br /> Manoj Gyawali, Deputy General Manager of Nabil Bank, admits that it is natural for the banks not to disburse loans without collateral.<br /> "Banks do not want to risk their investment by disbursing loans without collateral," he said. "According to the NRB's provision, each branch of commercial banks has to give ten concessional loans, that is 500 loans per year," said Gyawali. Banks try to provide such loans on collateral. He said that the central bank has not barred them from keeping collateral for providing concessional loans.<br /> As of mid-February, BFIs have disbursed concessional loans to 77,198 borrowers under ten headings. Banks are yet to recover Rs 124.28 billion from the borrowers. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Apart from agriculture and livestock loans, BFIs have allocated most of the loans to women entrepreneurs. Banks have been providing concessional loans to women entrepreneurs at a subsidized interest rate of 6 percent.<br /> By mid-February, the number of women entrepreneurs taking women entrepreneurship loans from banks and financial institutions has reached 36,763. The NRB informed that loans amounting to Rs 32.95 billion have been disbursed during this period. In January, the number of such debtors was 30,465. During this period, loans amounting to Rs 27.05 billion was released.<br /> Under the concessional loan for education, 132 people have received Rs 61 million in the first eight months of the current fiscal year.<br /> Bankers argue that it is risky to give loans to young students by keeping their certificates as collateral.<br /> Under the heading of youth project loans for returnee migrant workers, 671 people are yet to pay back Rs 513.7 million. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Likewise, BFIs have released loans under the Dalit Community Business Development Loan to 733 individuals. The debt stands at Rs 456 million.<br /> So far, 88 people have received loans under higher education and technical and vocational education loans. There arrears is Rs 33.3 million. The flow of loan under this category has not increased encouragingly since January.<br /> The number of earthquake victims who have taken loans to build private houses has also increased.<br /> The number of such debtors has increased from 238 in January to 237 in February.<br /> Likewise, 205 industrialists have availed the concessional loan given by the government to promote the textile industries. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13035', 'image' => '20210418070636_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-04-18 19:05:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13289', 'article_category_id' => '1', 'title' => 'Contributors to SSF to get Discount on Treatment at Hospitals ', 'sub_title' => '', 'summary' => 'April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. SSF is making necessary preparations to provide discount on treatment at the hospitals from July to make the social security programme more effective. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to the SSF, until now contributors used to get the payment claims only after submitting necessary bills. After receiving complaints that this process is full of hassles, SSF has made all required preparations to provide 80 percent discount on the treatment at the hospital itself. Once this service is available, contributors to SSF will have to pay only 20 percent for the treatment that costs up to Rs 100,000.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kapil Mani Gyawali, executive director of the SSF said, “Contributors need not visit SSF office to claim the treatment amount. We are working to provide this facility directly from the hospital.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to him, SSF is in the process of signing agreements with the hospitals to this end. So far, agreements have been signed with about 105 hospitals in the provinces, including Kathmandu Valley. SSF has signed agreements with twenty hospitals in Province 1, sixteen in Province 2, twenty in Bagmati Province, eight in Gandaki Province, fourteen in Lumbini Province, ten in Karnali Province and seventeen in the Sudur Paschim Province. The list also includes TU Teaching Hospital and Bir Hospital of Kathmandu valley. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">SSF had planned to sign agreements with at least ten hospitals in each province. But it has exceeded its target under this plan. “We are planning to bring hospitals across the country under this plan and start giving service from July if the second wave of cornonavirus doesn’t affect this process,” said Gyawali.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Hospitals that have signed agreement with the SSF get the discount payment provided to contributors after they makes the claims with the SSF. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, SSF is making its programmes reasonable and practical to attract more employees. SSF which came into operation from 27<sup>th</sup> November, 2018 has 13,800 contributors. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13034', 'image' => '20210418023111_20191104101107_20190129043642_a.jpg', 'article_date' => '2021-04-18 14:30:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13288', 'article_category_id' => '1', 'title' => 'Digital Transformation Requires Stepped-Up Security Measures ', 'sub_title' => '', 'summary' => 'April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. A huge chunk of population has started doing digital transactions following the lockdown that restricted physical movement. There has been a sharp rise in the number of transactions done through electronic and internet platforms. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In the month of Shrawan 2077 (mid July/mid Aug 2020), transaction worth Rs 18.39 billion took place through mobile banking. Number of such transactions has increased to Rs 40.35 billion in the month of Chaitra (mid Feb/mid March). Likewise, transactions worth Rs 51.3 billion were done through connectIPS in the month of Shrawan (mid July/mid Aug) which went up to Rs 110 billion in the month of Chaitra (mid Feb/mid March).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The growth in the digital transactions is positive news for all the electronic service providers but with this growth also comes digital risks like data loss, identity theft, and financial loss. In this context, Rebati Adhikari of New Business Age talked with Prabesh Poudel, Information Security Officer (ISO) at Nabil Bank to seek his views on importance of digital security in banking sector. Excerpts:</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">With increase in digital banking, how important is digital security? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Today, in one form or another, every bank is on the path to digital transformations, with digital payments moving ahead at high speed. But a</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">t the same time, in the lack of proper security controls in place, there are chances that banks could suffer major service failures due to their inability to manage digital risk. So, while we talk about digital transformation, security transformation cannot be left behind but must go hand in hand. </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In this new digital world, the implementation of new digital technology not only requires system implementation but also requires focus on areas related to digital security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of security measures banks should employ to ensure digital security?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">A complete security strategy has to be in place to protect information assets. Security has to be looked from different aspects such as secured technology infrastructure, on-going security assessment, on-going security monitoring and most importantly security culture. All these have to be guided by strong policies and procedures. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Threat actors have shifted efforts to target end users by exploiting user behavior by misleading users into opening and executing a malicious file, going to a malicious site or handing over information, typically using lures which create urgency (eg lottery payment) or leverage current crises and events (eg covid fund).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So in this scenario, one of the challenging things in today’s context specially in the case of Nepal is security awareness. So, only secured system will not help in strengthening information security, but user awareness is as important as that. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Is banking sector experiencing more risks from mobile banking apps? What should be done to minimize it? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security threats exist everywhere be it traditional banking or modern banking with digital channels, but how you take the precautions is something that plays the major role.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Yes, with a mobile app there are potential vulnerabilities related to the security of the app itself, vulnerabilities in code and also potential vulnerabilities related to the transmission of information. In addition, threats coming from unawareness of the consumers is even more critical. There have been instances in Nepal in which mobile banking users are found to have shared their password/OTP with fraudsters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So to list some of the preventive measures, before installing any mobile app, complete vendor assessment ie assessment of technology service provider is very important. This should be followed by VAPT (Vulnerability Assessment and Penetration Testing) of system itself to ensure system is secured before LIVE implementation. But it does not end here because security is an on-going process as new threats are evolving day by day, so an on-going security assessment, security monitoring, security awareness to consumers is a must. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can use a security awareness training program to educate their employees as well as customers about the importance of data security. Say for example when Multi Factor Authentication is implemented in any system, customers should also be aware of its importance so that he doesn’t share password/OTP with anyone with wrong intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So, it’s no longer about just the individual components of security framework. Focus must be on how they are orchestrated to build a more effective security posture.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of mechanism should bank set up to monitor/respond to cyber threats? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security monitoring is one of the important components of information security and the best way to do is by establishment of Security Operations Centre (SOC), which includes a team of security experts and the facility in which they dedicate themselves entirely for monitoring, analyzing and reporting information. A SOC team monitors cyber security threats on the basis of logs from various critical system 24/7 and detects and responds to any security incidents it oversees and then alerts the bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can establish SOC in-house with their own team or may outsource it to professional and reliable third-party. There are multiple companies in Nepal that have been providing ‘Managed SOC’ service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of significance information security audit holds?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Information security audit will help in comprehensive assessment of a bank’s information system and can help identify system weakness and vulnerabilities in IT infrastructure. In addition, it also verifies the bank’s policies and procedures, security controls, ensures regulatory compliance and many more.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Such audit will definitely help in continual improvement of security posture of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, the most important thing while conducting such external audit is to ensure such audit firm comprises of professional team with enough experience, expertise and standard certification like CISA/ISO 27001 etc for conducting information security audit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13033', 'image' => '20210418021204_iStock-514571236-768x508.jpg', 'article_date' => '2021-04-18 14:10:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13287', 'article_category_id' => '1', 'title' => ' Kathmandu Denizens getting 140 Million Litres of Drinking Water from Melamchi Project ', 'sub_title' => '', 'summary' => 'April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily basis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily basis, according to a news report prepared by the state-owned national news agency RSS. </span><br /> <span style="font-family:"Arial Unicode MS"">The project has started formally distributing water to the dwellers of Kathmandu after President Bidya Devi Bhandari inaugurated the water distribution tap in Kathmandu some time ago. </span><br /> <span style="font-family:"Arial Unicode MS"">The project supplied about 80 million liters of water in the trial phase until last week and has now officially started distributing 10 million litres of water. </span><br /> <span style="font-family:"Arial Unicode MS"">According to the spokesperson of Melamchi Water Supply Development Committee, Rajendra Panta, the project has begun distributing 140 million litres daily from April 15 and will be increased the water supply up to 170 million litres very soon. </span><br /> <span style="font-family:"Arial Unicode MS"">Giving reference to Panta, RSS said that both of the water-processing plants in Sundarijal have come into operation. The project has been distributing water from Mahankal, Balaju, Lazimpat, Anamnagar, Panipokhari, Minbhawan and Khumaltar water depots. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, water supply would be soon extended to other depots in Thimi, Kirtipur. Nine water ponds and 1,100 kms long distribution system is being development in the Kathmandu valley for the distribution of water.</span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13032', 'image' => '20210418110118_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-04-18 11:00:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13286', 'article_category_id' => '1', 'title' => 'There is no Alternative to Nijgad International Airport: CAAN Director General ', 'sub_title' => '', 'summary' => 'April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation industry.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation industry.<br /> According to Pokhrel, none of the existing airports including Tribhuvan International Airport (TIA), Gautam Buddha International Airport (GBIA), and Pokhara International Airport (PIA) can hold the growing air traffic in the future.<br /> Director-General Pokharel shared that the air traffic in Nepal and the Asia Pacific region has grown immensely. It will continue to grow further after the Covid-19 situation improves, he added.<br /> However, he opines that neither TIA nor the under-construction national pride projects GBIA and PIA will have enough capacity to hold the increasing flow of aircraft. <br /> The air traffic will grow immensely in contrary to the space of these airports. The airports won't have enough space to cope with the traffic, Pokharel told New Business Age.<br /> He added that none of the three airports are expandable due to the space limitation of the airports.<br /> Neither of TIA, on construction GBIA and PIA, have space for further expansion.<br /> However, Nijgadh International Airport is capable of dealing with the projected traffic growth, he shared.<br /> According to Pokharel, Nijgadh International Airport is best suited to cope with the air traffic pressure because of its location and availability of space. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"The proposed airport project is close to the capital - only 75 km away through the under-construction fast track. Likewise, the project covers 1,900 hectares of land which is expandable to 8,000 more hectares, to the full capacity," informed Pokharel.<br /> The proposed airport in Nijgad has multiple advantages. The airport will handle jumbo-jets, including the largest passenger aircraft Airbus A-380. Since Nepal is a landlocked country, it can be crucial for receiving and sending out heavy cargo for the benefit of the economy, he adds. <br /> Meanwhile, the airport project has been receiving widespread backlash from environmental activists for the number of trees needed to be felled.<br /> However, Pokhrel says such criticism is pointless and against the development of the country. He shared that people have manipulated the issues and caused riots against the project. It is an exaggeration is that millions of trees have to be cut down. But in reality, there the actual number of trees that need to be chopped off is far less. According to Pokharel, around 100,000 trees need to be felled for the airport construction. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We aren't starting the project in 8,000 hectares of land. The site in the initial phase will only cover an area of 1900 hectares. Likewise, it doesn't have the dense forest as described,” he said.<br /> He added that trees and mostly bushes or shrubs need to be cleaned in the initial phase. <br /> The full-fledged construction of the airport is estimated to cost USD 3.45 billion. Earlier, the government had authorized Zurich Airport to develop the project. The Swiss company withdrew from the project last year.<br /> The government of Nepal had set an aim to develop the airport through FDI. The airport project had received investment commitment from eight investors, including Zurich International Airport, GMR group of India, and a Qatari company. </span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13031', 'image' => '20210416095607_Nijgad.jpg', 'article_date' => '2021-04-16 21:55:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13285', 'article_category_id' => '1', 'title' => 'Department of Mine seeks Qualified Companies for Excavation of Minerals ', 'sub_title' => 'Exploring Mines and Excavating Minerals to Take Place in 13 Areas ', 'summary' => 'April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal. ', 'content' => '<p><em>This file photo shows a copper mine in Myagdi district. Photo: NBA</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS"">According to the state-owned national news agency RSS, the department has issued a tender notice for excavation of five kinds of minerals. Director General at the Department, Ram Prasad Ghimire, informed that the tender notice was issued for the exploration and digging of limestone, copper, marble sand and caballine. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS further reported that limestone would be explored at Kapurkot of Salyan, and Tandranggadhi and Jurethum of Dhading, marble at Supin of Makwanpur, sand at Ghyalchowk of Gorkha, copper at Ghusa of Dhading, Okharbot of Myagdi and Agrakhola of Makwanpur, and caballine at Daman of Makwanpur.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Director General Ghimire further informed that qualified and selected national and international companies would be given permission for excavation. They need to submit proposals with 60 percent allocation on technical aspects and 40 percent on economic aspect. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13030', 'image' => '20210416032511_20210310111611_20190606013911_tamakhani2.jpg', 'article_date' => '2021-04-16 15:23:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13284', 'article_category_id' => '1', 'title' => 'Nepal Eligible to Buy Electricity from Indian Exchange Market', 'sub_title' => '', 'summary' => 'April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market. India’s Ministry for Energy has given approval to NEA to become a member of the exchange market on April 14, allowing the latter to buy electricity from the Indian market independently.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">NEA had submitted an application to receive the membership of the Indian energy exchange market. Based on the same application, NEA has been authorized to purchase electricity from the exchange market.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Meanwhile, India has not given approval to NEA to sell electricity in its market. Madan Timsina, spokesperson of NEA, said the process to receive the permit to sell electricity is underway. For now, NEA has received approval only to buy electricity. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">This approval lets NEA to import electricity from any Indian company. So far, NEA had been purchasing electricity from various companies by signing Power Purchase Agreement (PPA) with them. “No PPA is required to buy electricity from now on. NEA can import electricity from the companies trading in Indian energy market,” said Timsina, adding, “We can purchase electricity from the companies that sell it at cheaper price. In this case, if electricity is to be purchased tomorrow, purchase process needs to start today.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">However, NEA still needs to buy electricity from the National Thermal Power Corporation (NTPC) - the company authorized to trade electricity in India. India has designated NVVN, a model agency to export and import electricity to Nepal. Accordingly, electricity will be imported and exported. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Timsina informed that the process has been initiated to get approval for selling energy in the Indian market. “In this regard, India has sought for additional documents which we have already provided. We will get the permit to sell electricity as soon as the required documentation process is complete,” he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">India had presented guidelines for cross border import and export of electricity in the end of February. Based on these guidelines, electricity can be imported and exported between Nepal and India. NEA said documents requested by India have been submitted in accordance to the rules of this guideline. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Nepal will be generating surplus energy in the coming rainy season. If NEA receives the approval from India, the NEA can sell the surplus power in the Indian market. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The first unit of Upper Tamakoshi will also be generating 76 MW of electricity by mid-May. Other projects are also about to start operation and are expected to generate excess electricity. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13029', 'image' => '20210416012601_1618525909.Clipboard09.jpg', 'article_date' => '2021-04-16 13:25:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13282', 'article_category_id' => '1', 'title' => 'Government Urges Public not to Gather in Crowds in 14 Districts with High Risk of Covid-19 Infection', 'sub_title' => '', 'summary' => 'April 16: The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">April 16: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones. The Ministry of Health and Population has urged people in those districts to avoid overcrowding in public places. The ministry has also appealed to the concerned bodies to close schools and other places where people gather in large number. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The 14 districts categorized by the government as high-risk areas include Kathmandu, Lalitpur, Kaski, Rupandehi, Chitwan, Banke, Parsa, Bhaktapur, Kailali, Morang, Dang, Surkhet, Bara and Baglung districts. Issuing a statement on Thursday (April 15) , Joint Spokesperson at the Ministry of Health and Population Dr Samir Kumar Adhikari appealed to the people not to go to the crowded places in those districts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has listed schools, party palaces, shopping malls, health club, swimming pool, gyms, sports centres, cinema halls, market places and religious sites among others as places with high risk of Covid-19 transmission.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry has urged the local units to ensure all these places are shut down amid concerns of spread of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It has also ordered closure of night-time businesses and restaurants in the 14 districts after 7pm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“All the services in these 14 districts need to be shut down except for the essential ones,” reads the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Furthermore, government hospitals have been asked to allocate at least 50 per cent bed for the Covid-19 patients and provide free healthcare services to those meeting the criteria for whom the government has pledged to provide free treatment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, private hospitals have been warned not to refer Covid-19 patients to government hospitals or elsewhere. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The health ministry has also appealed the hospitals to prioritize children, expecting mothers, new mothers, senior citizens and people with disabilities when it comes to conducting the PCR test and providing treatment against coronavirus infection. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13028', 'image' => '20210416115657_1618526412.12.jpg', 'article_date' => '2021-04-16 11:56:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13283', 'article_category_id' => '1', 'title' => '136 Companies Registered in OTC Market in 5 Years', 'sub_title' => '', 'summary' => 'April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC) market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC) market. Of these, only 14 have been registered with the OTC in the current Fiscal Year (FY 2020/21).<br /> However, only about 20 companies were listed during the initial year of OTC registration.<br /> At present, shares of public companies not listed in the Nepal Stock Exchange Limited (Nepse) or removed from the Nepse list are traded through OTC.<br /> According to Chandra Singh Saud, Chief Executive Officer (CEO) of Nepse, investors are becoming aware of the increasing number of companies registering with OTC. He said that the number of registrations has increased as it is difficult for the Company Registrar's Office to keep records without registering with the OTC. The Company Registrar's Office has directed the concerned bodies to transfer and buy shares of the company through the OTC market. There has been good registration and transaction in OTC in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Hydropower companies that have not gone public have also registered with the OTC.<br /> According to Nepse, OTC has been traded 287 times in the current fiscal year alone.<br /> As the number of registration and transactions in the OTC market is increasing, Nepse has formed a committee to formulate procedures to make it more systematic.<br /> The committee formed under the coordination of Niranjan Phuyal of Nepse includes representatives of CDS and Clearing House, merchant bankers, and Company Registrar's Office.<br /> Saud informed that the committee formed about two weeks ago would amend the previous work procedure and issue it on time.<br /> "The committee is conducting a study to further develop the OTC market," he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepse had earlier said that it would start preparations to expand the OTC market across the nation.<br /> However, OTC market requires separate technology and the revenue from this business is not enough to cover the expenses, said CEO Saud. "Therefore, we have tried to move forward by discussing with all stakeholders," he added.<br /> Earlier, Nepse unveiled the work procedure by introducing the policy of OTC, but the issues including, price and tax, were not clear. “Therefore, we are working to formulate a procedure that includes all of them,” said Saud.<br /> The registration and trading of OTC in Nepse started on March 29, 2016.<br /> Maruti Cement was the first company to be traded in the OTC market, followed by Nepal Hydro Developer, Kathmandu Forestry College, Gromore Merchant Banker Limited, and others.<br /> Trading in the OTC market cannot be as effective as in the secondary market. Since such market is erratic and depends on needs, there is not much business going on. There are about 288 companies listed in Nepse. However, only 136 companies have been registered with OTC so far.<br /> <br /> Saud informed that an individuals can trade shares of the companies removed from the list of Nepse through OTC.<br /> <br /> "OTC trades only sporadically. Not all investors have been given such shares. Especially for founder shares, there is more buying and selling through certain individuals or groups," he said.<br /> <br /> The OTC market does not have to be very active. This is a kind of exit system. OTC is an easy way for shareholders to buy and sell shares within the company. As OTC depends on needs, its attraction is not like that of a Nepse-listed company.<br /> According to Nepse, share transactions globally are done through OTC, but in Nepal, there is a misconception that such transactions are done only by inferior companies. Due to such misunderstanding, many companies may not want the transaction to take place through OTC.<br /> There is a provision that shares of public companies that are not listed in Nepse or removed from Nepse's list should trade in OTC. However, to trade in the OTC market, the company should be registered with the concerned company.<br /> There is an arrangement to register the company for free in the market. However, in case of buying and selling of shares, a certain fee has to be paid to the Nepal Securities Board and the securities market. Also, capital gains tax should be paid to the Government of Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">According to the OTC Market Operation Regulations 2065, companies de-listed from Nepse can trade their securities in the OTC market. Likewise, companies not eligible for the listing can also trade their securities. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13027', 'image' => '20210416125209_My Effect.jpg', 'article_date' => '2021-04-16 12:50:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13281', 'article_category_id' => '1', 'title' => 'Lawmakers Stress Tourism-Friendly Law, Infrastructures', 'sub_title' => 'Nepal witnessed 80 percent slump in arrival of tourists due to coronavirus: NTB ', 'summary' => 'April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19 pandemic.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19 pandemic. Development of tourism is imperative to boost national economy, the state-owned national news agency RSS quoted them as saying during a panel discussion in Lower House on April 15. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Speaking at the meeting of the International Relations Committee of parliament, most of the lawmakers viewed tourism as a sector to earn foreign currency, and therefore stressed on tourism-friendly policy and strategies for the country's development. The infrastructures are equally important, they added. </span><br /> <span style="font-family:"Arial Unicode MS"">The line ministry was made aware that it could ensure autonomy to Nepal Tourism Board and mobilize it in full scale. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, lawmaker Dibya Mani Rajbhandari suggested easing one-door system of tourism service. Lawmakers Renu Gurung and Pushpa Bhushal viewed that the government could prioritize the areas that bring in more income with maximum employment in tourism. </span><br /> <span style="font-family:"Arial Unicode MS"">Naradmuni Rana was of the view that foreign tourists need to follow health protocol compulsorily. </span><br /> <span style="font-family:"Arial Unicode MS"">Pushpa Kumar Kayastha, Chandtara Kumari and others recommended the adoption of promotional strategies to bring in maximum tourists from India and China. </span><br /> <span style="font-family:"Arial Unicode MS"">At the meeting, Chief Executive of Nepal Tourism Board, Dr Dhananjay Regmi, made a presentation on 'Current Tourism: Opportunity and Challenges' and demanded adequate budget and tourism-friendly law to make tourism dynamic in the wake of Covid-19. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, Regmi shared the information that Nepal witnessed 80 percent slump in arrival of tourists due to coronavirus. So, tourism sector would take time for revival, Dr Regmi added, highlighting the need of strategic work plan to boost domestic tourism. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13026', 'image' => '20210416112622_20200421024913_20191017121120_1571271950.jpg', 'article_date' => '2021-04-16 11:25:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13280', 'article_category_id' => '1', 'title' => ' National Food Bank Formally Starts Operation', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">April 15: The newly set up office of the National Food Bank has been inaugurated at New Baneshwor on Thursday, April 15, according to the state-owned national news agency RSS. The bank was established in February by agriculture experts and scientists of Nepal with the slogan 'Sustainable Agriculture for Nutrient-Rich Food' in order to give priority to organic production. <br /> Chairperson of Bank, Shankar Nath Upreti, said that the bank was established with an objective of giving emphasis on organic production by reducing dependency on agriculture, RSS reported. <br /> The bank was established at the investment of Rs 2 billion and it has 590 promoter shareholders so far. According to the bank, preparation has been made to increase the number of promoter shareholders to 1,000. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The food bank, which is working with short-term, mid-term and long-term objectives, has given priority to the production of paddy, wheat, maize, millet, potato, mustard and nuts in the first phase. In the second phase, production of fish, meat, fruits, milk, vegetables, etc. will be emphasized and in the third phase, these products will be exported to different countries by storing, processing, grading and packaging.<br /> Upreti further said that the bank has been making preparation to issue IPO for general people soon by fulfilling all required criteria. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">"We facilitate production of and carry out trade in rice, wheat, maize, vegetables and fruits through bank. We increase production collaborating with farmers," RSS quoted Upreti as saying.<br /> The bank has made preparation to begin activities of agriculture production in 23 districts in the first phase within the current fiscal year. Six hundred bighas of land in different districts of Tarai have been taken on lease for the purpose. <br /> The bank has already started production in 13 districts including Kailali, Kanchanpur, Bardiya, Jhapa, Morang, Sunsari, Chitwan and Rupandehi taking land on lease.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The food bank was established with the objective of industrializing the agriculture sector in the near future by properly managing the necessary knowledge, skills, seeds and fertilisers required for this sector. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The bank has been established by skilled manpower, experts and agricultural scientists working in the field of agriculture.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">According to government data, Nepal has imported rice worth Rs 56 billion, lemon worth Rs 7 billion and onion worth Rs 7 billion in the last two years. Referring to this data, Chairman Upreti said that the food bank would play an important role in increasing exports by reducing imports. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13025', 'image' => '20210415061512_20210223010224_feature1609836774.jpeg', 'article_date' => '2021-04-15 18:13:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13279', 'article_category_id' => '1', 'title' => 'Transactions via QR Code Increasing', 'sub_title' => '', 'summary' => 'April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently. The report states that payments via QR code have increased by 48.94 percent in a month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the period between mid-February to mid-March, transactions worth Rs 2.5 billion were done through QR Code while there were transactions worth Rs 1.71 billion between mid-January to mid-February.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Number-wise, there were 635,732 transactions in between mid-February and mid-March while the period of mid-January to mid-February recorded 535,000 transactions through QR code. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Lately, transactions done via digital platform like connectIPS, mobile wallet, mobile banking and internet banking are on the rise. According to the central bank, transactions worth Rs 250 billion were done via connectIPS, mobile banking, internet banking, QR scan and mobile wallet in between mid-February and mid-March alone. In the month of Falgun (mid-February to mid-March), transactions done through these platforms have increased by 8.17 billion compared to the previous month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Internet banking accounted for transaction worth Rs 8.8 billion in the review period and mobile wallet contributed to transaction worth Rs 10.18 billion. In the month of Magh (mid-January to mid-February), transactions worth Rs 9.94 billion were done via mobile wallet. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Meanwhile, the volume of transaction done via ecommerce sites has declined in the month of Falgun (mid-February to mid-March) compared to the previous month. In the month of mid Jan/mid Feb, transaction worth Rs 932 billion were done while in the month of mid Feb/mid March, transaction worth Rs 904 million were done via ecommerce sites. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13024', 'image' => '20210415041410_20201209125551_1607471670.Clipboard09.jpg', 'article_date' => '2021-04-15 16:13:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '13278', 'article_category_id' => '1', 'title' => 'Import of Vehicles up by 10% Despite COVID-19 Pandemic', 'sub_title' => '', 'summary' => 'April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal year states the Current Macroeconomic and Financial Situation report released by Nepal Rastra Bank. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the last eight months of the current fiscal year, vehicles, equipment and parts worth Rs 80.44 billion have been imported against the import of Rs 72.81 billion in the review period of the last fiscal year. The annual vehicles import and their parts stood at Rs 83.82 billion in the Fiscal Year 2019/20.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">India is the largest supplier of vehicles and their parts to Nepal, accounting for Rs 66.31 billion of the total import. There has been an increase of 16.6 percent in import of vehicles from India. Nepal imports vehicles and their spare parts from India, China and third countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Meanwhile the country has imported vehicles and their parts worth Rs 305 million from China in the review period which is a decline by 23.1 percent compared to the corresponding period of the last fiscal year. Due to the border shutdown imposed by China since the outbreak of COVID-19, the overall import and export to and from China have declined in the review period of this fiscal year. The share of total imports from China has declined by 7.1 percent while export came down by 43.7 percent in the last eight months of the fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The country imported transport equipment and parts worth Rs 3.6 billion from other countries. It is a decline of 33.8 percent compared to the review period of the last fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">COVID-19 pandemic brought economic activities to a halt all over the world. The first three months of the lockdown imposed by the Government of Nepal slowed down all kinds of economic activities. After the government lifted lockdown, the impacts of COVID-19 started to decline and economic activities also gathered pace. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“As soon as COVID-19 restrictions were lifted, the auto business also picked up pace. People were looking for areas of investment and banks were also providing auto loans at low interest rates which boosted the sales leading to rise in vehicles import,” says Sunil Rijal, secretary general of Nepal Automobiles Dealers Association (NADA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to Rijal, the two-wheeler segment has recorded highest sales followed by cars. However, sales of buses have recorded a huge decline.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13023', 'image' => '20210415041210_20190311041537_1x.jpg', 'article_date' => '2021-04-15 16:10:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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
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Now we will soon seek clarification from him,” Poudel told New Business Age.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“If we do not get a satisfactory answer, we can initiate the process to relieve him off his duties,” added Poudel.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">During a field inspection, the Insurance Board found that the company had made investment against the Investment Guidelines 2075. The board decided to take action accordingly. Agrawal is not only a board member of the company but also the coordinator of the investment committee of the company. The Investment Board has concluded that the insurance company was involved in fraudulent investment at the behest of Agrawal.</span></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13037', 'image' => '20210419093930_20200825040928_bima_samiti.jpg', 'article_date' => '2021-04-19 09:38:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13291', 'article_category_id' => '1', 'title' => 'Govt to Unveil New Programmes in Agriculture ', 'sub_title' => '', 'summary' => 'April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 19: Minister for Agriculture and Livestock Development, Padma Kumari Aryal, has admitted that some programmes related to agriculture were discontinued this year for their poor handling in the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS"">During a programme organised at the ministry to discuss about the budget as well as policies and programmes for the upcoming fiscal year 2021/22, Minister Aryal said that some programmes in agriculture and animal husbandry sector could not be continued but new programmes would be run in an efficient way, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, parliamentarians present at the programme laid emphasis on enhancing production and use of organic fertilizer. They also demanded subsidy in agriculture. </span><br /> <span style="font-family:"Arial Unicode MS"">The MPs also drew the attention of the government to reduce risk from possible disaster and to make arrangements for distributing budget amount only from the local levels and ensure effective insurance scheme in agriculture sector. </span><br /> <span style="font-family:"Arial Unicode MS"">Lawmakers Khagaraj Adhikari, Bidya Bhattarai, Sujita Shakya, Maya Gyawali, Shanti Pakhrin, Komal Oli, Thammaya Thapa Magar and Dal Bahadur Rana were present on the occasion. </span></span></span></p> <p><span style="font-size:16px"><img alt="" src="/app/webroot/userfiles/images/20200512091924_20190527010000_Makai.jpg" style="height:723px; width:800px" /></span></p> ', 'published' => true, 'created' => '2021-04-19', 'modified' => '2021-04-19', 'keywords' => '', 'description' => '', 'sortorder' => '13036', 'image' => '20210419091906_20201109032251_Clipboard02.jpg', 'article_date' => '2021-04-19 09:18:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13290', 'article_category_id' => '1', 'title' => 'Banks Demand Collateral Even for Concessional Loans', 'sub_title' => '', 'summary' => 'April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 18: Banks have been demanding collateral even for commercial farming and livestock loans, which fall under the category of concessional loan. Bank and Financial Institutions (BFIs) have only disbursed 1.8 percent of the total concessional loan issued for agriculture at a subsidized interest rate of 5 percent as of mid-February. According to Nepal Rastra Bank, a total of Rs 88.29 billion have been distributed under the concessional loan category. Out of this, only Rs 1.60 billion have been distributed without collateral. The remaining Rs 86.69 billion has been disbursed by keeping collateral.<br /> As of mid-February, 38,355 people have benefited from the commercial farming and livestock loans at subsidized rate. A total of 2,542 people took such loans in between mid-January to mid-February. Although the credit flow without collateral is low, the number of borrowers and the total credit flow to the agricultural sector has increased.<br /> Government-owned banks are in the forefront in providing agricultural loans without any collateral. Agriculture Development Bank is in the top list of banks providing such loans. Out of the total loan of Rs 1.60 billion disbursed by banks without any collateral, the Agriculture Development Bank alone has released more than Rs 1 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times"> Hemal Poudyal, the spokesperson of Agriculture Development Bank, said that the bank disbursed between Rs 500,000 to Rs 1.5 million to around 1,600 people without collateral. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"As it is a state program, we have given collateral-free loans even if there is risk of loss," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">There is an arrangement for BFIs to allocate loans of Rs 300,000 to Rs 50 million under various headings. Banks can give up to Rs 50 million of such loans to the agriculture sector. Chairman of Nepal Bankers' Association Bhuvan Kumar Dahal informed that those who do not want to pay the loan or cannot do so often do not have collateral.<br /> Manoj Gyawali, Deputy General Manager of Nabil Bank, admits that it is natural for the banks not to disburse loans without collateral.<br /> "Banks do not want to risk their investment by disbursing loans without collateral," he said. "According to the NRB's provision, each branch of commercial banks has to give ten concessional loans, that is 500 loans per year," said Gyawali. Banks try to provide such loans on collateral. He said that the central bank has not barred them from keeping collateral for providing concessional loans.<br /> As of mid-February, BFIs have disbursed concessional loans to 77,198 borrowers under ten headings. Banks are yet to recover Rs 124.28 billion from the borrowers. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Apart from agriculture and livestock loans, BFIs have allocated most of the loans to women entrepreneurs. Banks have been providing concessional loans to women entrepreneurs at a subsidized interest rate of 6 percent.<br /> By mid-February, the number of women entrepreneurs taking women entrepreneurship loans from banks and financial institutions has reached 36,763. The NRB informed that loans amounting to Rs 32.95 billion have been disbursed during this period. In January, the number of such debtors was 30,465. During this period, loans amounting to Rs 27.05 billion was released.<br /> Under the concessional loan for education, 132 people have received Rs 61 million in the first eight months of the current fiscal year.<br /> Bankers argue that it is risky to give loans to young students by keeping their certificates as collateral.<br /> Under the heading of youth project loans for returnee migrant workers, 671 people are yet to pay back Rs 513.7 million. </span></span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Likewise, BFIs have released loans under the Dalit Community Business Development Loan to 733 individuals. The debt stands at Rs 456 million.<br /> So far, 88 people have received loans under higher education and technical and vocational education loans. There arrears is Rs 33.3 million. The flow of loan under this category has not increased encouragingly since January.<br /> The number of earthquake victims who have taken loans to build private houses has also increased.<br /> The number of such debtors has increased from 238 in January to 237 in February.<br /> Likewise, 205 industrialists have availed the concessional loan given by the government to promote the textile industries. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13035', 'image' => '20210418070636_20210106123441_20201105020829_cover.jpg', 'article_date' => '2021-04-18 19:05:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13289', 'article_category_id' => '1', 'title' => 'Contributors to SSF to get Discount on Treatment at Hospitals ', 'sub_title' => '', 'summary' => 'April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 18: Contributors to the Social Security Fund (SSF) will soon get discount for treatment directly at the hospitals. SSF is making necessary preparations to provide discount on treatment at the hospitals from July to make the social security programme more effective. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to the SSF, until now contributors used to get the payment claims only after submitting necessary bills. After receiving complaints that this process is full of hassles, SSF has made all required preparations to provide 80 percent discount on the treatment at the hospital itself. Once this service is available, contributors to SSF will have to pay only 20 percent for the treatment that costs up to Rs 100,000.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kapil Mani Gyawali, executive director of the SSF said, “Contributors need not visit SSF office to claim the treatment amount. We are working to provide this facility directly from the hospital.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">According to him, SSF is in the process of signing agreements with the hospitals to this end. So far, agreements have been signed with about 105 hospitals in the provinces, including Kathmandu Valley. SSF has signed agreements with twenty hospitals in Province 1, sixteen in Province 2, twenty in Bagmati Province, eight in Gandaki Province, fourteen in Lumbini Province, ten in Karnali Province and seventeen in the Sudur Paschim Province. The list also includes TU Teaching Hospital and Bir Hospital of Kathmandu valley. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">SSF had planned to sign agreements with at least ten hospitals in each province. But it has exceeded its target under this plan. “We are planning to bring hospitals across the country under this plan and start giving service from July if the second wave of cornonavirus doesn’t affect this process,” said Gyawali.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Hospitals that have signed agreement with the SSF get the discount payment provided to contributors after they makes the claims with the SSF. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, SSF is making its programmes reasonable and practical to attract more employees. SSF which came into operation from 27<sup>th</sup> November, 2018 has 13,800 contributors. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13034', 'image' => '20210418023111_20191104101107_20190129043642_a.jpg', 'article_date' => '2021-04-18 14:30:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13288', 'article_category_id' => '1', 'title' => 'Digital Transformation Requires Stepped-Up Security Measures ', 'sub_title' => '', 'summary' => 'April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">April 18: The global health crisis spurred by COVID-19 has brought huge digital transformations in the country. A huge chunk of population has started doing digital transactions following the lockdown that restricted physical movement. There has been a sharp rise in the number of transactions done through electronic and internet platforms. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In the month of Shrawan 2077 (mid July/mid Aug 2020), transaction worth Rs 18.39 billion took place through mobile banking. Number of such transactions has increased to Rs 40.35 billion in the month of Chaitra (mid Feb/mid March). Likewise, transactions worth Rs 51.3 billion were done through connectIPS in the month of Shrawan (mid July/mid Aug) which went up to Rs 110 billion in the month of Chaitra (mid Feb/mid March).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The growth in the digital transactions is positive news for all the electronic service providers but with this growth also comes digital risks like data loss, identity theft, and financial loss. In this context, Rebati Adhikari of New Business Age talked with Prabesh Poudel, Information Security Officer (ISO) at Nabil Bank to seek his views on importance of digital security in banking sector. Excerpts:</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">With increase in digital banking, how important is digital security? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Today, in one form or another, every bank is on the path to digital transformations, with digital payments moving ahead at high speed. But a</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">t the same time, in the lack of proper security controls in place, there are chances that banks could suffer major service failures due to their inability to manage digital risk. So, while we talk about digital transformation, security transformation cannot be left behind but must go hand in hand. </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">In this new digital world, the implementation of new digital technology not only requires system implementation but also requires focus on areas related to digital security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of security measures banks should employ to ensure digital security?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">A complete security strategy has to be in place to protect information assets. Security has to be looked from different aspects such as secured technology infrastructure, on-going security assessment, on-going security monitoring and most importantly security culture. All these have to be guided by strong policies and procedures. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Threat actors have shifted efforts to target end users by exploiting user behavior by misleading users into opening and executing a malicious file, going to a malicious site or handing over information, typically using lures which create urgency (eg lottery payment) or leverage current crises and events (eg covid fund).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So in this scenario, one of the challenging things in today’s context specially in the case of Nepal is security awareness. So, only secured system will not help in strengthening information security, but user awareness is as important as that. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Is banking sector experiencing more risks from mobile banking apps? What should be done to minimize it? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security threats exist everywhere be it traditional banking or modern banking with digital channels, but how you take the precautions is something that plays the major role.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Yes, with a mobile app there are potential vulnerabilities related to the security of the app itself, vulnerabilities in code and also potential vulnerabilities related to the transmission of information. In addition, threats coming from unawareness of the consumers is even more critical. There have been instances in Nepal in which mobile banking users are found to have shared their password/OTP with fraudsters. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So to list some of the preventive measures, before installing any mobile app, complete vendor assessment ie assessment of technology service provider is very important. This should be followed by VAPT (Vulnerability Assessment and Penetration Testing) of system itself to ensure system is secured before LIVE implementation. But it does not end here because security is an on-going process as new threats are evolving day by day, so an on-going security assessment, security monitoring, security awareness to consumers is a must. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can use a security awareness training program to educate their employees as well as customers about the importance of data security. Say for example when Multi Factor Authentication is implemented in any system, customers should also be aware of its importance so that he doesn’t share password/OTP with anyone with wrong intent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">So, it’s no longer about just the individual components of security framework. Focus must be on how they are orchestrated to build a more effective security posture.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of mechanism should bank set up to monitor/respond to cyber threats? </span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Security monitoring is one of the important components of information security and the best way to do is by establishment of Security Operations Centre (SOC), which includes a team of security experts and the facility in which they dedicate themselves entirely for monitoring, analyzing and reporting information. A SOC team monitors cyber security threats on the basis of logs from various critical system 24/7 and detects and responds to any security incidents it oversees and then alerts the bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Banks can establish SOC in-house with their own team or may outsource it to professional and reliable third-party. There are multiple companies in Nepal that have been providing ‘Managed SOC’ service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">What kind of significance information security audit holds?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Information security audit will help in comprehensive assessment of a bank’s information system and can help identify system weakness and vulnerabilities in IT infrastructure. In addition, it also verifies the bank’s policies and procedures, security controls, ensures regulatory compliance and many more.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Such audit will definitely help in continual improvement of security posture of the bank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">However, the most important thing while conducting such external audit is to ensure such audit firm comprises of professional team with enough experience, expertise and standard certification like CISA/ISO 27001 etc for conducting information security audit. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13033', 'image' => '20210418021204_iStock-514571236-768x508.jpg', 'article_date' => '2021-04-18 14:10:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13287', 'article_category_id' => '1', 'title' => ' Kathmandu Denizens getting 140 Million Litres of Drinking Water from Melamchi Project ', 'sub_title' => '', 'summary' => 'April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily basis.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 18: The residents of Kathmandu are receiving 140 million litres of drinking water from the Melamchi Water Supply Project on a daily basis, according to a news report prepared by the state-owned national news agency RSS. </span><br /> <span style="font-family:"Arial Unicode MS"">The project has started formally distributing water to the dwellers of Kathmandu after President Bidya Devi Bhandari inaugurated the water distribution tap in Kathmandu some time ago. </span><br /> <span style="font-family:"Arial Unicode MS"">The project supplied about 80 million liters of water in the trial phase until last week and has now officially started distributing 10 million litres of water. </span><br /> <span style="font-family:"Arial Unicode MS"">According to the spokesperson of Melamchi Water Supply Development Committee, Rajendra Panta, the project has begun distributing 140 million litres daily from April 15 and will be increased the water supply up to 170 million litres very soon. </span><br /> <span style="font-family:"Arial Unicode MS"">Giving reference to Panta, RSS said that both of the water-processing plants in Sundarijal have come into operation. The project has been distributing water from Mahankal, Balaju, Lazimpat, Anamnagar, Panipokhari, Minbhawan and Khumaltar water depots. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, water supply would be soon extended to other depots in Thimi, Kirtipur. Nine water ponds and 1,100 kms long distribution system is being development in the Kathmandu valley for the distribution of water.</span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-04-18', 'modified' => '2021-04-18', 'keywords' => '', 'description' => '', 'sortorder' => '13032', 'image' => '20210418110118_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-04-18 11:00:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13286', 'article_category_id' => '1', 'title' => 'There is no Alternative to Nijgad International Airport: CAAN Director General ', 'sub_title' => '', 'summary' => 'April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation industry.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">April 16: Director-General of the Civil Aviation Authority of Nepal (CAAN), Rajan Pokhrel, informed that the country does not have any alternative other than developing Nijgad International Airport for the future of the Nepali aviation industry.<br /> According to Pokhrel, none of the existing airports including Tribhuvan International Airport (TIA), Gautam Buddha International Airport (GBIA), and Pokhara International Airport (PIA) can hold the growing air traffic in the future.<br /> Director-General Pokharel shared that the air traffic in Nepal and the Asia Pacific region has grown immensely. It will continue to grow further after the Covid-19 situation improves, he added.<br /> However, he opines that neither TIA nor the under-construction national pride projects GBIA and PIA will have enough capacity to hold the increasing flow of aircraft. <br /> The air traffic will grow immensely in contrary to the space of these airports. The airports won't have enough space to cope with the traffic, Pokharel told New Business Age.<br /> He added that none of the three airports are expandable due to the space limitation of the airports.<br /> Neither of TIA, on construction GBIA and PIA, have space for further expansion.<br /> However, Nijgadh International Airport is capable of dealing with the projected traffic growth, he shared.<br /> According to Pokharel, Nijgadh International Airport is best suited to cope with the air traffic pressure because of its location and availability of space. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"The proposed airport project is close to the capital - only 75 km away through the under-construction fast track. Likewise, the project covers 1,900 hectares of land which is expandable to 8,000 more hectares, to the full capacity," informed Pokharel.<br /> The proposed airport in Nijgad has multiple advantages. The airport will handle jumbo-jets, including the largest passenger aircraft Airbus A-380. Since Nepal is a landlocked country, it can be crucial for receiving and sending out heavy cargo for the benefit of the economy, he adds. <br /> Meanwhile, the airport project has been receiving widespread backlash from environmental activists for the number of trees needed to be felled.<br /> However, Pokhrel says such criticism is pointless and against the development of the country. He shared that people have manipulated the issues and caused riots against the project. It is an exaggeration is that millions of trees have to be cut down. But in reality, there the actual number of trees that need to be chopped off is far less. According to Pokharel, around 100,000 trees need to be felled for the airport construction. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">“We aren't starting the project in 8,000 hectares of land. The site in the initial phase will only cover an area of 1900 hectares. Likewise, it doesn't have the dense forest as described,” he said.<br /> He added that trees and mostly bushes or shrubs need to be cleaned in the initial phase. <br /> The full-fledged construction of the airport is estimated to cost USD 3.45 billion. Earlier, the government had authorized Zurich Airport to develop the project. The Swiss company withdrew from the project last year.<br /> The government of Nepal had set an aim to develop the airport through FDI. The airport project had received investment commitment from eight investors, including Zurich International Airport, GMR group of India, and a Qatari company. </span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13031', 'image' => '20210416095607_Nijgad.jpg', 'article_date' => '2021-04-16 21:55:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13285', 'article_category_id' => '1', 'title' => 'Department of Mine seeks Qualified Companies for Excavation of Minerals ', 'sub_title' => 'Exploring Mines and Excavating Minerals to Take Place in 13 Areas ', 'summary' => 'April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal. ', 'content' => '<p><em>This file photo shows a copper mine in Myagdi district. Photo: NBA</em></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 16: The Department of Mines and Geology has decided to explore mines and excavate minerals in 13 different places of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS"">According to the state-owned national news agency RSS, the department has issued a tender notice for excavation of five kinds of minerals. Director General at the Department, Ram Prasad Ghimire, informed that the tender notice was issued for the exploration and digging of limestone, copper, marble sand and caballine. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS further reported that limestone would be explored at Kapurkot of Salyan, and Tandranggadhi and Jurethum of Dhading, marble at Supin of Makwanpur, sand at Ghyalchowk of Gorkha, copper at Ghusa of Dhading, Okharbot of Myagdi and Agrakhola of Makwanpur, and caballine at Daman of Makwanpur.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Director General Ghimire further informed that qualified and selected national and international companies would be given permission for excavation. They need to submit proposals with 60 percent allocation on technical aspects and 40 percent on economic aspect. </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13030', 'image' => '20210416032511_20210310111611_20190606013911_tamakhani2.jpg', 'article_date' => '2021-04-16 15:23:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13284', 'article_category_id' => '1', 'title' => 'Nepal Eligible to Buy Electricity from Indian Exchange Market', 'sub_title' => '', 'summary' => 'April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 16: Nepal Electricity Authority (NEA) is now eligible to buy electricity from India’s energy exchange market. India’s Ministry for Energy has given approval to NEA to become a member of the exchange market on April 14, allowing the latter to buy electricity from the Indian market independently.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">NEA had submitted an application to receive the membership of the Indian energy exchange market. Based on the same application, NEA has been authorized to purchase electricity from the exchange market.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Meanwhile, India has not given approval to NEA to sell electricity in its market. Madan Timsina, spokesperson of NEA, said the process to receive the permit to sell electricity is underway. For now, NEA has received approval only to buy electricity. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">This approval lets NEA to import electricity from any Indian company. So far, NEA had been purchasing electricity from various companies by signing Power Purchase Agreement (PPA) with them. “No PPA is required to buy electricity from now on. NEA can import electricity from the companies trading in Indian energy market,” said Timsina, adding, “We can purchase electricity from the companies that sell it at cheaper price. In this case, if electricity is to be purchased tomorrow, purchase process needs to start today.”</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">However, NEA still needs to buy electricity from the National Thermal Power Corporation (NTPC) - the company authorized to trade electricity in India. India has designated NVVN, a model agency to export and import electricity to Nepal. Accordingly, electricity will be imported and exported. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Timsina informed that the process has been initiated to get approval for selling energy in the Indian market. “In this regard, India has sought for additional documents which we have already provided. We will get the permit to sell electricity as soon as the required documentation process is complete,” he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">India had presented guidelines for cross border import and export of electricity in the end of February. Based on these guidelines, electricity can be imported and exported between Nepal and India. NEA said documents requested by India have been submitted in accordance to the rules of this guideline. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Nepal will be generating surplus energy in the coming rainy season. If NEA receives the approval from India, the NEA can sell the surplus power in the Indian market. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The first unit of Upper Tamakoshi will also be generating 76 MW of electricity by mid-May. Other projects are also about to start operation and are expected to generate excess electricity. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13029', 'image' => '20210416012601_1618525909.Clipboard09.jpg', 'article_date' => '2021-04-16 13:25:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13282', 'article_category_id' => '1', 'title' => 'Government Urges Public not to Gather in Crowds in 14 Districts with High Risk of Covid-19 Infection', 'sub_title' => '', 'summary' => 'April 16: The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">April 16: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has confirmed the emergence of second wave of coronavirus in the country and categorized 14 districts as high-risk zones. The Ministry of Health and Population has urged people in those districts to avoid overcrowding in public places. The ministry has also appealed to the concerned bodies to close schools and other places where people gather in large number. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The 14 districts categorized by the government as high-risk areas include Kathmandu, Lalitpur, Kaski, Rupandehi, Chitwan, Banke, Parsa, Bhaktapur, Kailali, Morang, Dang, Surkhet, Bara and Baglung districts. Issuing a statement on Thursday (April 15) , Joint Spokesperson at the Ministry of Health and Population Dr Samir Kumar Adhikari appealed to the people not to go to the crowded places in those districts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government has listed schools, party palaces, shopping malls, health club, swimming pool, gyms, sports centres, cinema halls, market places and religious sites among others as places with high risk of Covid-19 transmission.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The ministry has urged the local units to ensure all these places are shut down amid concerns of spread of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">It has also ordered closure of night-time businesses and restaurants in the 14 districts after 7pm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“All the services in these 14 districts need to be shut down except for the essential ones,” reads the statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Furthermore, government hospitals have been asked to allocate at least 50 per cent bed for the Covid-19 patients and provide free healthcare services to those meeting the criteria for whom the government has pledged to provide free treatment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, private hospitals have been warned not to refer Covid-19 patients to government hospitals or elsewhere. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The health ministry has also appealed the hospitals to prioritize children, expecting mothers, new mothers, senior citizens and people with disabilities when it comes to conducting the PCR test and providing treatment against coronavirus infection. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13028', 'image' => '20210416115657_1618526412.12.jpg', 'article_date' => '2021-04-16 11:56:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13283', 'article_category_id' => '1', 'title' => '136 Companies Registered in OTC Market in 5 Years', 'sub_title' => '', 'summary' => 'April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC) market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 16: In the last five years, 136 companies have been listed in the over-the-counter (OTC) market. Of these, only 14 have been registered with the OTC in the current Fiscal Year (FY 2020/21).<br /> However, only about 20 companies were listed during the initial year of OTC registration.<br /> At present, shares of public companies not listed in the Nepal Stock Exchange Limited (Nepse) or removed from the Nepse list are traded through OTC.<br /> According to Chandra Singh Saud, Chief Executive Officer (CEO) of Nepse, investors are becoming aware of the increasing number of companies registering with OTC. He said that the number of registrations has increased as it is difficult for the Company Registrar's Office to keep records without registering with the OTC. The Company Registrar's Office has directed the concerned bodies to transfer and buy shares of the company through the OTC market. There has been good registration and transaction in OTC in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Hydropower companies that have not gone public have also registered with the OTC.<br /> According to Nepse, OTC has been traded 287 times in the current fiscal year alone.<br /> As the number of registration and transactions in the OTC market is increasing, Nepse has formed a committee to formulate procedures to make it more systematic.<br /> The committee formed under the coordination of Niranjan Phuyal of Nepse includes representatives of CDS and Clearing House, merchant bankers, and Company Registrar's Office.<br /> Saud informed that the committee formed about two weeks ago would amend the previous work procedure and issue it on time.<br /> "The committee is conducting a study to further develop the OTC market," he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepse had earlier said that it would start preparations to expand the OTC market across the nation.<br /> However, OTC market requires separate technology and the revenue from this business is not enough to cover the expenses, said CEO Saud. "Therefore, we have tried to move forward by discussing with all stakeholders," he added.<br /> Earlier, Nepse unveiled the work procedure by introducing the policy of OTC, but the issues including, price and tax, were not clear. “Therefore, we are working to formulate a procedure that includes all of them,” said Saud.<br /> The registration and trading of OTC in Nepse started on March 29, 2016.<br /> Maruti Cement was the first company to be traded in the OTC market, followed by Nepal Hydro Developer, Kathmandu Forestry College, Gromore Merchant Banker Limited, and others.<br /> Trading in the OTC market cannot be as effective as in the secondary market. Since such market is erratic and depends on needs, there is not much business going on. There are about 288 companies listed in Nepse. However, only 136 companies have been registered with OTC so far.<br /> <br /> Saud informed that an individuals can trade shares of the companies removed from the list of Nepse through OTC.<br /> <br /> "OTC trades only sporadically. Not all investors have been given such shares. Especially for founder shares, there is more buying and selling through certain individuals or groups," he said.<br /> <br /> The OTC market does not have to be very active. This is a kind of exit system. OTC is an easy way for shareholders to buy and sell shares within the company. As OTC depends on needs, its attraction is not like that of a Nepse-listed company.<br /> According to Nepse, share transactions globally are done through OTC, but in Nepal, there is a misconception that such transactions are done only by inferior companies. Due to such misunderstanding, many companies may not want the transaction to take place through OTC.<br /> There is a provision that shares of public companies that are not listed in Nepse or removed from Nepse's list should trade in OTC. However, to trade in the OTC market, the company should be registered with the concerned company.<br /> There is an arrangement to register the company for free in the market. However, in case of buying and selling of shares, a certain fee has to be paid to the Nepal Securities Board and the securities market. Also, capital gains tax should be paid to the Government of Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">According to the OTC Market Operation Regulations 2065, companies de-listed from Nepse can trade their securities in the OTC market. Likewise, companies not eligible for the listing can also trade their securities. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13027', 'image' => '20210416125209_My Effect.jpg', 'article_date' => '2021-04-16 12:50:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13281', 'article_category_id' => '1', 'title' => 'Lawmakers Stress Tourism-Friendly Law, Infrastructures', 'sub_title' => 'Nepal witnessed 80 percent slump in arrival of tourists due to coronavirus: NTB ', 'summary' => 'April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19 pandemic.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 16: Parliamentarians have underscored the need to conduct policy reform and promotion of tourism in the wake of Covid-19 pandemic. Development of tourism is imperative to boost national economy, the state-owned national news agency RSS quoted them as saying during a panel discussion in Lower House on April 15. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Speaking at the meeting of the International Relations Committee of parliament, most of the lawmakers viewed tourism as a sector to earn foreign currency, and therefore stressed on tourism-friendly policy and strategies for the country's development. The infrastructures are equally important, they added. </span><br /> <span style="font-family:"Arial Unicode MS"">The line ministry was made aware that it could ensure autonomy to Nepal Tourism Board and mobilize it in full scale. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, lawmaker Dibya Mani Rajbhandari suggested easing one-door system of tourism service. Lawmakers Renu Gurung and Pushpa Bhushal viewed that the government could prioritize the areas that bring in more income with maximum employment in tourism. </span><br /> <span style="font-family:"Arial Unicode MS"">Naradmuni Rana was of the view that foreign tourists need to follow health protocol compulsorily. </span><br /> <span style="font-family:"Arial Unicode MS"">Pushpa Kumar Kayastha, Chandtara Kumari and others recommended the adoption of promotional strategies to bring in maximum tourists from India and China. </span><br /> <span style="font-family:"Arial Unicode MS"">At the meeting, Chief Executive of Nepal Tourism Board, Dr Dhananjay Regmi, made a presentation on 'Current Tourism: Opportunity and Challenges' and demanded adequate budget and tourism-friendly law to make tourism dynamic in the wake of Covid-19. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, Regmi shared the information that Nepal witnessed 80 percent slump in arrival of tourists due to coronavirus. So, tourism sector would take time for revival, Dr Regmi added, highlighting the need of strategic work plan to boost domestic tourism. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-04-16', 'modified' => '2021-04-16', 'keywords' => '', 'description' => '', 'sortorder' => '13026', 'image' => '20210416112622_20200421024913_20191017121120_1571271950.jpg', 'article_date' => '2021-04-16 11:25:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13280', 'article_category_id' => '1', 'title' => ' National Food Bank Formally Starts Operation', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">April 15: The newly set up office of the National Food Bank has been inaugurated at New Baneshwor on Thursday, April 15, according to the state-owned national news agency RSS. The bank was established in February by agriculture experts and scientists of Nepal with the slogan 'Sustainable Agriculture for Nutrient-Rich Food' in order to give priority to organic production. <br /> Chairperson of Bank, Shankar Nath Upreti, said that the bank was established with an objective of giving emphasis on organic production by reducing dependency on agriculture, RSS reported. <br /> The bank was established at the investment of Rs 2 billion and it has 590 promoter shareholders so far. According to the bank, preparation has been made to increase the number of promoter shareholders to 1,000. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The food bank, which is working with short-term, mid-term and long-term objectives, has given priority to the production of paddy, wheat, maize, millet, potato, mustard and nuts in the first phase. In the second phase, production of fish, meat, fruits, milk, vegetables, etc. will be emphasized and in the third phase, these products will be exported to different countries by storing, processing, grading and packaging.<br /> Upreti further said that the bank has been making preparation to issue IPO for general people soon by fulfilling all required criteria. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">"We facilitate production of and carry out trade in rice, wheat, maize, vegetables and fruits through bank. We increase production collaborating with farmers," RSS quoted Upreti as saying.<br /> The bank has made preparation to begin activities of agriculture production in 23 districts in the first phase within the current fiscal year. Six hundred bighas of land in different districts of Tarai have been taken on lease for the purpose. <br /> The bank has already started production in 13 districts including Kailali, Kanchanpur, Bardiya, Jhapa, Morang, Sunsari, Chitwan and Rupandehi taking land on lease.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The food bank was established with the objective of industrializing the agriculture sector in the near future by properly managing the necessary knowledge, skills, seeds and fertilisers required for this sector. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The bank has been established by skilled manpower, experts and agricultural scientists working in the field of agriculture.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">According to government data, Nepal has imported rice worth Rs 56 billion, lemon worth Rs 7 billion and onion worth Rs 7 billion in the last two years. Referring to this data, Chairman Upreti said that the food bank would play an important role in increasing exports by reducing imports. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13025', 'image' => '20210415061512_20210223010224_feature1609836774.jpeg', 'article_date' => '2021-04-15 18:13:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13279', 'article_category_id' => '1', 'title' => 'Transactions via QR Code Increasing', 'sub_title' => '', 'summary' => 'April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 15: Payments through QR Code have been increasing in the country, according to the Current Economic and Financial report released by the Nepal Rastra Bank recently. The report states that payments via QR code have increased by 48.94 percent in a month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the period between mid-February to mid-March, transactions worth Rs 2.5 billion were done through QR Code while there were transactions worth Rs 1.71 billion between mid-January to mid-February.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Number-wise, there were 635,732 transactions in between mid-February and mid-March while the period of mid-January to mid-February recorded 535,000 transactions through QR code. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Lately, transactions done via digital platform like connectIPS, mobile wallet, mobile banking and internet banking are on the rise. According to the central bank, transactions worth Rs 250 billion were done via connectIPS, mobile banking, internet banking, QR scan and mobile wallet in between mid-February and mid-March alone. In the month of Falgun (mid-February to mid-March), transactions done through these platforms have increased by 8.17 billion compared to the previous month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Internet banking accounted for transaction worth Rs 8.8 billion in the review period and mobile wallet contributed to transaction worth Rs 10.18 billion. In the month of Magh (mid-January to mid-February), transactions worth Rs 9.94 billion were done via mobile wallet. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Meanwhile, the volume of transaction done via ecommerce sites has declined in the month of Falgun (mid-February to mid-March) compared to the previous month. In the month of mid Jan/mid Feb, transaction worth Rs 932 billion were done while in the month of mid Feb/mid March, transaction worth Rs 904 million were done via ecommerce sites. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13024', 'image' => '20210415041410_20201209125551_1607471670.Clipboard09.jpg', 'article_date' => '2021-04-15 16:13:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ), (int) 14 => array( 'Article' => array( 'id' => '13278', 'article_category_id' => '1', 'title' => 'Import of Vehicles up by 10% Despite COVID-19 Pandemic', 'sub_title' => '', 'summary' => 'April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">April 15: Despite the COVID-19 pandemic, the import of vehicles and machinery parts has increased by 10.5 percent in the last eight months of the fiscal year states the Current Macroeconomic and Financial Situation report released by Nepal Rastra Bank. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the last eight months of the current fiscal year, vehicles, equipment and parts worth Rs 80.44 billion have been imported against the import of Rs 72.81 billion in the review period of the last fiscal year. The annual vehicles import and their parts stood at Rs 83.82 billion in the Fiscal Year 2019/20.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">India is the largest supplier of vehicles and their parts to Nepal, accounting for Rs 66.31 billion of the total import. There has been an increase of 16.6 percent in import of vehicles from India. Nepal imports vehicles and their spare parts from India, China and third countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Meanwhile the country has imported vehicles and their parts worth Rs 305 million from China in the review period which is a decline by 23.1 percent compared to the corresponding period of the last fiscal year. Due to the border shutdown imposed by China since the outbreak of COVID-19, the overall import and export to and from China have declined in the review period of this fiscal year. The share of total imports from China has declined by 7.1 percent while export came down by 43.7 percent in the last eight months of the fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">The country imported transport equipment and parts worth Rs 3.6 billion from other countries. It is a decline of 33.8 percent compared to the review period of the last fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">COVID-19 pandemic brought economic activities to a halt all over the world. The first three months of the lockdown imposed by the Government of Nepal slowed down all kinds of economic activities. After the government lifted lockdown, the impacts of COVID-19 started to decline and economic activities also gathered pace. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“As soon as COVID-19 restrictions were lifted, the auto business also picked up pace. People were looking for areas of investment and banks were also providing auto loans at low interest rates which boosted the sales leading to rise in vehicles import,” says Sunil Rijal, secretary general of Nepal Automobiles Dealers Association (NADA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to Rijal, the two-wheeler segment has recorded highest sales followed by cars. However, sales of buses have recorded a huge decline.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-15', 'modified' => '2021-04-15', 'keywords' => '', 'description' => '', 'sortorder' => '13023', 'image' => '20210415041210_20190311041537_1x.jpg', 'article_date' => '2021-04-15 16:10:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '20' ) ) ) $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
