UFO: Pay Less Expect More October 2011

Nov 30, -0001 0 2 minutes 43 seconds to read

…

Business Of B-Schools October 2011

Nov 30, -0001 1 6 minutes 0 seconds to read

…

The Financial Policing October 2011

Nov 30, -0001 0 3 minutes 7 seconds to read

…

A Walk Through Central Depository System

Nov 30, -0001 0 9 minutes 52 seconds to read

…

Brand Nepal In NTY 2011 October 2011

Nov 30, -0001 1 5 minutes 7 seconds to read

…

Waiting For 350(October 2011)

Nov 30, -0001 0 4 minutes 34 seconds to read

…

Nepal In 10 Years (October 2011)

Nov 30, -0001 1 3 minutes 24 seconds to read

…

Pasi Koistinen

Nov 30, -0001 0 12 minutes 5 seconds to read

…

Flight Of An Aviator

Nov 30, -0001 1 9 minutes 19 seconds to read

…

'NRB Will Take Every Possible Measure To Bring Liquidity Problem Under Control'(October 2011)

Nov 30, -0001 0 15 minutes 46 seconds to read

…

We Are Sailing Easy For Now (October 2011)

Nov 30, -0001 0 12 minutes 37 seconds to read

…

Business Of B-schools (September 2011)

Nov 30, -0001 0 40 minutes 43 seconds to read

…

'We Are Compelled ToStudy Foreign Cases' (September 2011)

Nov 30, -0001 0 7 minutes 11 seconds to read

…

'MBA Has Become Competitive Now' (September 2011)

Nov 30, -0001 0 9 minutes 8 seconds to read

…

'Corporate EntitiesKnow The Importanceof Having MBAs' (September 2011)

Nov 30, -0001 0 7 minutes 21 seconds to read

…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'id' => '488',
			'article_category_id' => '57',
			'title' => 'UFO: Pay Less Expect More October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;">One of the vehicles imported and marketed in Nepal by Constant Business Group is UFO. It is an SUV manufactured by Chinese automobile company Jonway. Though the vehicle is made in China, it makes use of Mitsubishi engine and gearbox. The company has targeted the vehicle to those who want to switch from a sedan or a hatchback to a SUV. According to the company, UFO is very affordable and gives more value for money.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The 2011 model looks modern and stylish that is sure to get attention with its unique and fashionable outlook and its price-performance ratio. The crystal headlights look brilliant and have very powerful illumination that greatly improves driving safety at night. The beautifully designed LED taillights also correspond to the headlights. The integrated design makes the body look more stylish.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The inside of the vehicle is very roomy, a wide cabin that allows freedom. The five-seater vehicle has manually adjustable seats for extra comfort and also has ample storage area. There are features like power mirrors, keyless entry system, reverse sensor and power windows. The vehicle is also equipped with dual airbags, a powerful air-conditioner, front and rear fog lamps, power steering and steering audio controls.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The latest Mitsubishi engine has excellent power performance and provides stable and smooth acceleration. The 1.6 liter 4G18S engine produces a maximum power of 74.2 KW at 6000 rpm and a maximum torque of 134 Nm at 4500 rpm. The vehicle can attain a maximum speed of 150 km per hour. The vehicle has a 5-speed manual transmission that provides quick and smooth shifting while maintaining the stability at the same time.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">UFO is equipped with disc brakes on all four wheels that can resist higher temperature and have more reliable stopping power so that the vehicle functions safely. The body of the car is designed is such a way that it can effectively absorb energy of a collision and disperse it throughout the frame to every part of the body. This prevents the deformation of the cabin at the event of collision and protects the driver and passengers.&nbsp;ABS is also incorporated in the vehicle to add to the safety.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The company claims that the vehicle gives a mileage of 12-14 km/l in the city and 16 to 18 km/l on the highways. The company has already sold 96 units of UFO. UFO, with all these features can be yours at a very affordable price of Rs 2,825,000. The company is giving out a warranty of 2 years or 35,000 kms, whichever is earlier.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>',
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			'modified' => '2013-05-24',
			'keywords' => '',
			'description' => 'One of the vehicles imported and marketed in Nepal by Constant Business Group is UFO. It is an SUV manufactured by Chinese automobile company Jonway....',
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		'Article' => array(
			'id' => '486',
			'article_category_id' => '50',
			'title' => 'Business Of B-Schools October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><img align="left" alt="Business - B" border="1" height="346" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/feed.jpg" style="width: 256px; height: 346px;margin:10px;padding:10px;" vspace="10" width="256" />It is good news that management education is flourishing in Nepal. In last one and a half decades, after Kathmandu University launched its MBA, a lot of management colleges have started offering management degrees. A lot of them have been successful in their mission and produced quality human resources. However, prominent positions in Nepali corporate houses are dominated by foreign university graduates. This somewhere underlines that our graduates are not as good as those coming from foreign colleges or at least the employers have this perception.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">The teaching-learning methodology and the educational environment in Nepal are much criticised by the teachers of management colleges. They are the ones who are responsible to improvise new methodologies to meet the kind of current demand and need. It will be better if they can implement the best practices of foreign universities. However, the trend is gradually shifting lately in new management colleges. In most colleges, though they claim modern methodology is being used, the teaching is limited to lectures only. The quality of teachers can be questioned after their failure to revolutionise the classroom. On the other hand, students are not much prepared for modern day classroom activities. They have been passive learners since their schools days and most of them do not have any work experience as they are straight out of the undergraduate colleges.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Teachers are treating teaching merely as a job, forgetting their professional ethics and responsibilities. They reach almost half a dozen colleges every morning to teach. They completely lack self-study and research practices. Though professors are expected to engage in research activities, only a handful of them are pondering over research and innovations. In some cases, teachers are unable to answer the queries raised by students.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">So, only the course material will not do miracles until delivery of it is revolutionised. For that, teachers will have to be competent and business schools should rise above their profit motive and realise the responsibility to improve the quality of education. Business schools should not be established only for business but also to meet the demand of the evolutionary business environment.<br />
	<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Rohit Shrestha</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>New Baneshwor, Kathmandu</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<hr />
<h3 style="color: blue;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Telephone Boom</span></span></h3>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Lately, Nepal's telecommunication market has grown tremendously. Almost 50 per cent of the population now have access to telecommunication services though largely dominated by GSM mobile telephone. Now rural areas are being slowly covered by the network of either NTC or Ncell or rural telecom operators.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Constantly declining cost of services and communication devices has attracted a lot of new consumers. Compared to the mobile telephone service, Internet has still not reached a substantial number of people. Users of Internet are largely concentrated on urban centres. However, the services like 3G and GPRS/EDGE has gathered huge number of mobile Internet users. With the advent of smartphones, trend of using Internet on mobile is growing both nationally and internationally.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Still, a large chunk of population i.e. around 50 per cent population does not directly have access to such services. But this population includes children and those who use telecommunication indirectly from home telephone or use devices of family members and friends. This is the market segment everyone is trying to tap both network operators and handset makers. If their marketing strategy succeeds, the number of consumers is certain to increase. Looking at the growth trend and usage pattern, it is certain that more Nepali people will have greater access to telecom and Internet services in the future.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Prativa Panthi</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>Pokhara</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<hr />
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<h3 style="color: blue;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Workplace Harassment</span></span></h3>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Workplace harassment - either in psychological or physical form - is reported in all organisations. . Most common harassment is sexual as established by various studies. In many cases the complaint against harassment is resolved within the company while some cases reach the court. In Nepal's case, they rarely reach the courts though there is legal provision for this. Most often, such problems are solved within the organisation and common disciplinary action is firing the accused. Experts say this is not the best action as such provision encourages employees to take advantage of the system. Any workplace harassment must be discouraged at any cost and strong actions must be taken by the organisation as well as such cases should be taken to the courts. Employee's behaviour and preferences must be well understood while dealing with them as someone might feel harassed by similar approach while for others it could be completely normal. Companies must be careful to avoid such harassments at the workplace and should take more care while hiring new employees. Along with the company, employees themselves have to maintain a discipline that makes the working environment safe and healthy.<br />
	<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Purna Bogati</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>Bhaktapur</b></span></span></div>',
			'published' => true,
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			'id' => '485',
			'article_category_id' => '52',
			'title' => 'The Financial Policing October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The central bank, Nepal Rastra Bank (NRB) has recently indicated that it would tighten the grip on the financial criminals not only by introducing more effective regulation and supervision policies, but also by acting as the enforcer of these policies.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	The NRB has chosen to take up the role of arresting the financial criminals in direct co-work with police.&nbsp;Instead of earlier arrangement of going through the Ministry of Finance (MoF) with a suspect lists and the line ministries passing out buck from MoF to Home Ministry, from Home Ministry to District Administrative offices and then to the District Police, this NRB initiative would surely shorten the process of apprehending the absconded ones. It is reported that the MoF has given consent to NRB to directly deal with the police to initiate the process of arrests. Similarly, NRB is also reportedly formulating a policy to liquidate those financial institutions whose promoters or executives remain absconded for long.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<img align="right" alt="" border="2" height="397" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/edit.jpg" vspace="5" width="350" />In light of the growing incidents of abscondence of the promoters and executives of some development banks and finance companies, the NRB move appears a welcome one.&nbsp;It is also true that in Nepal among all the criminals, the financial ones largely remain scot free by using every possible influence including, may be, money.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	Such NRB activism also seems convincing vis-a-vis the central bank's responsibility of maintaining financial system stability in the country. But the core question here is: will these moves actually contribute the promotion of corporate governance in this sector? And, do these schemes fit in the concept of â€˜slim and smart central bank focused on its core functions?</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	Unquestionably, the criminals must be brought to book and justice delivered. But NRB initiating the legal process on its own will have several other ramifications. First, it must have a stronger and larger legal department. Second, the government dealing directly with the law-enforcing agencies is always more effective. And, third, as the experiences have it, the problem in apprehending the allegeds lies largely in the police functioning. At that crucial point, NRB move may falter. NRB cannot be expected to be able to change the attitude and modus operandi of the police.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Also the very idea of liquidating the entire institution just because a fraudulent person, who happened to be a decision maker, remained at large is not at all justifiable. One of the cardinal responsibilities of the NRB is to protect the depositors interest first, which in turn, facilitates the system stability. If any promoter or executive flees away, the moral responsibility should also be taken by the NRB as well. And, as the regulator, the decision of liquidating the financial institutions must be based on the financial health of the institution and its future viability. Let's not forget that there is a specialised legal mechanism already in place to deal with corporate liquidation/bankruptcy. The clients have made no mistake by doing business with the NRB licensed and supposedly supervised companies and they must not suffer for the fault of somebody else.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	The NRB must understand that it can neither escape from its responsibility of maintaining the financial stability by enhanced regulation and supervision nor should it be turned into a police like organisation.</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-31',
			'keywords' => '',
			'description' => 'The central bank, Nepal Rastra Bank (NRB) has recently indicated that it would tighten the grip on the financial criminals not only by introducing more effective..........',
			'sortorder' => '395',
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	(int) 3 => array(
		'Article' => array(
			'id' => '483',
			'article_category_id' => '41',
			'title' => 'A Walk Through Central Depository System',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="sectorial" border="1" height="128" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/homnath gaire.jpg" style="margin:10px;padding:10px;" vspace="5" width="100" />By <strong><u>Homnath Gaire<br />
		<br />
		</u></strong></span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size:12px;">In a nut shell, Central Depository System (CDS) is an electronic book entry system to record and maintain securities and to register their transfer. In CDS, ownership will be changed without physical movements of securities or execution of transfer deeds. The ownership will be transferred as soon as securities move from one account to another. CDS is purely a settlement vehicle and will not affect the trading in any manner whatsoever. It is expected that the CDS will bring tremendous efficiency and growth in the capital market of Nepal. It will also enhance the image of Nepal's capital market globally. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Participants of CDS:Account Holders<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Account holders are divided into two categories - account holders and participants. Both account holders and participants will have direct access to the CDS. Account holders will be allowed to have a main account and a house account for their beneficially owned securities. Participants, however, will be entitled to have client accounting facilities within the CDS. In addition to main account and house account, participants will be allowed to have sub accounts and group client accounts. In short, the participants can provide custody services to their clients whereas account holders can keep only their beneficially owned securities in CDS.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><img align="right" alt="sectoral" border="1" height="350" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(7).jpg" style="margin:10px;padding:10px;" vspace="5" width="252" />"Beneficial Owner" means the person who have opened their Beneficial Owner Account with Central Depository Company for depositing their securities or instruments and who have held the securities and instruments which are capable of being deposited in de-mat form.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">All the members of stock exchanges, banks (both commercial and investment), and development financial institutions (DFIs) are allowed to open their account as participants whereas corporate bodies such as leasing companies, investment companies and insurance companies can open their account as account holders.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Issuers/Registrars<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The issuers of capital whose securities are converted from physical to electronic book entry system play a significant role in CDS. They will also have direct access to the CDS. After a security is declared eligible for the purpose of CDS, necessary software is provided to that particular issuer upon signing the issuer's agreement with central depository company (CDC). The shares are entered into CDS only after proper verification by these issuers or their registrar. This process eliminates the problem of fake/duplicate/lost/stolen share certificates as issuers thoroughly check them before approving for CDS.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Eligible Pledge<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Financial institutions that lend against securities will have their account with CDS in the capacity of eligible pledges. These institutions will also have direct access to CDS and will be provided with necessary connection in this regard upon signing the pledge agreement with CDC. Their clients will be able to pledge their electronic book based securities in CDS. Once the securities are pledged in the CDS, the control over those securities is transferred to the eligible pledgee in the form of pledge release/call. Nevertheless, the beneficial owner will continue to get the benefits of corporate action on pledged securities.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong><img align="left" alt="sectoral" border="1" height="228" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img1(4).jpg" style="margin:10px;padding:10px;" vspace="5" width="350" />CDS Account Structure:<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The account holders of CDC will be able to settle their transactions within the CDS through five types of accounts, namely:<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Main Account:</b> Each account holder in the system will be allocated a main account by virtue of being an account holder in the CDS. This account will mainly be used as a transit account for movement of securities. Any security coming in or moving out of an account holder's family of accounts will pass through this account.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>House Account:</b> Used for securities owned beneficially by account holders. "Beneficial Owner Account" means De-mat Account (electronic account) opened with Central Depository Company through Depository Participant in order to deposit securities by the Beneficial Owner and which is distinguished by a unique account number.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Sub-account (Client Account):</b> This account is used for keeping securities belonging individually to each of the clients of an account holder. An account holder may open and maintain any number of sub-accounts he requires on behalf of his clients.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Group Client Account:</b> This account is used for keeping securities which are beneficially owned by the account holder's client. It will be used for clients who are not willing to utilize the facility of opening separate sub-accounts. The account holder will group all such clients in his/her group account. The detailed break-up of the securities held by each client of a group account will be held by the account holder and no such record will be maintained by CDC. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Cash Account: </b>Each account holder in the system who opts to avail the Delivery vs Payment (DVP) facility will be required to deposit relevant amount to be used for the settlement of DVP obligations.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">CDS-Operation<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b><img align="right" alt="" border="2" height="335" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img2(4).jpg" vspace="5" width="350" />The main operations performed in the CDS are as follows:<br />
	<br />
	</b></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Deposit of existing and new securities in the CDS. Once a security is declared eligible by CDC, the physical certificates of that security will be deposited in the CDS for conversion after which they will be available for further transfers within the system. Following is the procedure to deposit securities in the CDS:</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">To begin with account holder will initiate the deposit request by entering the details of share certificates into the system, and securities deposit form (SDF). CDS will generate computer printouts of the transaction. Transfer deed will be executed in favor of CDC. Account holder will then send the relevant share certificates, transfer deeds, SDF and the computer printouts to the relevant registrar. The registrar after verification will either approve or reject the transaction within five days from the receipt of the documents. Registrar will update CDC nominee share holding in the member's register, cancel share certificates and transfer deeds, and return the relevant documents (other then canceled share certificates and transfer deeds) to applicant account holder.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Withdrawal of securities <br />
	from the CDS:<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The account holder will initiate the withdrawal request by entering the relevant details into the system, and securities withdrawal form (SWF). CDS will generate computer printouts of the transaction. Account holder will then send the SWF and the computer printouts to the relevant registrar.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The registrar after verification of the balance will either approve or reject the transaction within five days from the receipt of the documents and update CDC nominee share holding in the member's register. Registrar will return the relevant documents and share certificates to the applicant.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Prepare share certificate (Jumbo certificate): <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Free Transfer -</b> Book entry transfer of securities without any associated cash movement. This is a unilateral transaction in which an account holder can deliver securities to any other account holder in CDS. Although the beneficial ownership of securities changes as securities move from one account to another, there is no stamp duty involved and the transfer is on the spot.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Pledge/Release/Call -</b> Pledging securities in favor of a lender which can only be released or called by the lender. This function will greatly benefit the financial institutions by reducing risk of fake share certificates and paperwork to a great extent. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Stock Borrowing or Lending through the CDS: <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Corporate Action - </b>In case of bonus issues, rights issues, sub-division, consolidation and any other action that changes the number of securities held in a participant's account or involves the determination of entitlement to beneficial owners, CDC shall provide relevant details of account holders and sub-account holders to the issuer. The CDC will also provide details for the purpose of notice of general meetings and other notices/communications.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Delivery Versus Payment (DVP) - </b>DVP is a bilateral transaction or book entry transfer of ownership of a security in exchange for payment to settle a transaction. The deliverer of the securities will initiate the DVP request on CDS specifying the details of securities and payment.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Upon acceptance of the receiver, CDS will debit deliverer's securities account and credit receiver's securities account. Likewise, CDS will debit receiver's cash account and credit deliverer's cash account. Cash only moves from one account to another without any associated securities movement. </span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-17',
			'keywords' => '',
			'description' => 'In a nut shell, Central Depository System (CDS) is an electronic book entry system to record and maintain securities and to register their transfer. In CDS, ownership......',
			'sortorder' => '393',
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	(int) 4 => array(
		'Article' => array(
			'id' => '480',
			'article_category_id' => '57',
			'title' => 'Brand Nepal In NTY 2011 October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<strong><span style="font-size: 14px;"><img align="left" alt="" border="1" height="182" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sajag karki.jpg" style="width: 141px; height: 182px;margin:10px;padding:10px;" vspace="10" width="141" />By Sajag Karki</span></strong></div>
	<div style="text-align: justify;">
		<span style="font-size: 14px;"><br />
		</span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Naturally Nepal is the tagline used by Nepal Tourism Board (NTB) to promote Nepal Tourism Year 2011 (NTY). It is hard to say whether a mere tagline with hardly any promotional activities can fulfill its ambitious plan of attracting one million foreign tourists to the country this year. Though the year opened with a bang with the campaign's promotion and big commitments made by its stakeholders, all the fizz surrounding the announcement of NTY has come to an end with less than four months remaining of the year. The campaign took off quite well but vanished in thin air. It would have been an excellent branding opportunity for Nepal and positioned it as an ultimate destination for various tourism activities such as adventure, culture, spiritual, religious and wildlife. Sadly, this has not been the case. Instead of tourists flowing to major destinations of Nepal, it seems that neither the tourists nor the tourism sector have benefited significantly by the government's so-called plan to take tourism sector to greater heights by observing NTY 2011.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is quite sad that a campaign initiated by the government falls flat when it comes to implementation. A tourism year is supposed to be full of promotional activities but there has not been a single TV commercial (TVC) created for its advertising which is very surprising. How are potential tourists supposed to know about the various destinations and activities in Nepal? Every country and place has its own specialty such as Egypt has pyramids, Thailand has lovely beaches, Italy has romantic destinations, and so on. Similarly, Nepal specializes in picturesque natural beauty, cultural richness along with ethnic and bio-diversities that can make tourists spellbound alluring them to visit Nepal again and again.&nbsp;&nbsp; </span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="brand" border="1" height="170" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/nty(2).jpg" style="width: 289px; height: 170px;margin:10px;padding:10px;" vspace="10" width="289" />Nepal can learn from other Asian countries like neighboring India, Malaysia, Singapore and Thailand that have focused a lot on country's branding and have offered visitors with various attractive packages. They have communicated their country's story via various promotion channels and have created a niche of their own. Some popular promotions include Malaysia â€œTruly Asiaâ€, Amazing Thailand etc that are being broadcast on major TV channels. India has gone even further with state branding to encourage the tourism flow to their respective states such as Rajasthan, Uttarakhand, Kerala, Gujarat, Orissa etc. Massive promotion budget has been spent with big celebrities such as Amitabh Bachchan being brand ambassador of Gujarat Tourism. Similarly, Nepal needs to narrate an anecdote of its own to let interested ones know about this beautiful country. The rich cultural heritage, the spirit of the Himalayas and the adventure tourism aspect can all be elements of the Nepal's tourism story. Even better would be branding for specific destinations such as Pokhara and Chitwan, positioning each differently to cater to the needs of tourists of all demographics. Pokhara can be promoted as the happening place with natural beauty, adventure sports such as paragliding and salubrious environment to rejuvenate and relax. Similarly, Chitwan can attract tourists for its wildlife resort, elephant safari, camel rides and Tharu ethnical cultural shows.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It can be said that Nepal hasn't exploited its tourism potential and more importantly has not been promoted the right way. Promotion activities can be done targeting each segment of tourists by highlighting the attributes of the various exciting places of Nepal. In addition, NTY could further boost sales as special privileges could be given during this campaign. Further benefits should be given to tourists who wish to visit in the year 2011. Discount of hotel reservations, special packages on airfare and accommodation along with some freebies will no doubt attract numerous visitors. Moverover, the benefit of visiting Nepal this year as compared to other years should be communicated clearly or else it will just be like any other ordinary year. </span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Though some efforts have been made by the private sector, this miniscule yet encouraging act must be backed up by robust government spending as it can, apparently, generate revenue for the nation. The promotion should be done on a government level not only by the private organizations. Despite various political, economical and financial barriers faced by the country, there is still enormous scope for a naturally gifted place like ours to excel in the tourism sector. The opening ceremony of NTY was marked with huge enthusiasm and support from all sectors as even political parties vowed not to organize bandhs as it would have an adverse effect on the tourism campaign. Despite all the bottlenecks, there is still hope to revive the economy through branding of the Nation-Nepal as a visitors paradise. Being a Nepali citizen it is also our responsibility to encourage domestic tourism and spread good word about it to the world. Let's celebrate the spirit of NTY 2011!!!</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;"><br />
	</span></strong></div>
<div>
	<div style="text-align: justify;">
		<strong><span style="font-size: 14px;">(Karki is currently associated with JWT (Thompson Nepal). The article is based on research and author's practical experience as a marketing professional. He can be reached at sajag_karki@hotmail.com)</span></strong></div>
</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-11-01',
			'keywords' => '',
			'description' => 'Naturally Nepalis the tagline used by Nepal Tourism Board (NTB) to promote Nepal Tourism Year 2011 (NTY). It is hard to say whether a mere tagline with hardly.......',
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	(int) 5 => array(
		'Article' => array(
			'id' => '479',
			'article_category_id' => '42',
			'title' => 'Waiting For 350(October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<h3 style="color: blue;">
	<span style="color:#800000;"><span style="font-size: 12px;">(Nepal Stock Market Review for 22 Aug â€“ 20 September, 2011)</span></span></h3>
<p>
	<span style="color:#800000;"><br />
	</span></p>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>By Bikram Chitrakar<br />
		<br />
		<br />
		</strong></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">The Nepse Index needs to cross 350 to inspire the investors, shows this analysis. With Nepse Index continuously sliding down, the month striding over August-September period was a month of decline in the Nepali bourse. This was in spite of healthy earnings reports and dividend declaration by the companies. The entry of Maoists as the leader of the government helped in sending the mood in the exchange down because of lack of clarity about the policy of the new government. The benchmark Nepse index plummeted 29.76 points or 9.30 per cent to respite at 320.08 during 22 August-20 September. While the highest points for the period was on 22 August with 349.84 and the lowest was on 19 September with 317.70. <br />
		<br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Investors were unsatisfied with the rate of dividend declared by different financial institutions as the proposed dividend could not meet the expectations of the investors. Dividend proposed by Standard Chartered Bank is 50 per cent (cash) while that of Nabil is 30 per cent (cash) only. Both missed the expectation of the investors.<br />
		<br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" height="265" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock.jpg" style="width: 426px; height: 265px;margin:10px;padding:10px;" vspace="5" width="426" />However, the investors have not lost all the hopes as yet because the process to improve the regulatory environment is still going ahead. The Securities Board of Nepal (SEBON) has granted license to Central Depository System and Clearing Ltd as per CDS regulation 2067. Now it is expected to start operation after the Dashain festivals are over. Similarly, the newly licensed 16 stock brokers also started transactions. With this the number of stock brokers has increase to 39, providing the investors expanded opportunity to choose their broker. </span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock1.jpg" style="margin:10px;padding:10px;" vspace="5" />Another noteworthy event of the month was the Money Expo organized jointly by Aarthik Abhiyan and Jamb Technologies with Minds Nepal and Morningstar Investment Services Pvt. The 3-day event called "NDEX Money Expo 2011" concluded on September 14 is believed to have helped to promote investment opportunities and tools. Experts from both India and Nepal participated in various discussion programs held during the Expo on topics related to the economy, stock market, commodity market, central depository system, investment banking and so on. In one of the programme, Tanka Prasad Paneru, chairperson of Nepal Stock Exchange opined that the Nepali stock market on that week was in a correction phase and it will gallop after crossing that level.&nbsp;</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>Performance by Sector</strong></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" height="267" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock2.jpg" style="margin:10px;padding:10px;" vspace="5" width="400" />Commercial banking sector holding the heavy share of trade volume in Nepal Stock Exchange dived down 44.32 points or 16.24 per cent to settle at 272.95 during the review period. Insurance sub-index lost 20.75 points to come down at 398.73. Similarly, hydropower sector descended 18.14 points along with 15.80 points decline in finance sector to arrive at 549.23 and 276.24 respectively. Others sector plummeted 8.23 points or 1.74 per cent to close at 472.34 while development bank group ebbed out 5.97 points to rest at 279.92. However manufacturing sector added 20.24 points or 3.33 per cent to reach 607.47 while trading sector gained 4.11 points to rest at 246.08.</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Sensitive index that measures the performance of 117 blue chips scrip at secondary market lost 8.73 points or 11.19 per cent to reach 78.01 while the float index calculated on the basis of real transaction skid 3.31 points to arrive at 26.38. Total of Rs. 493769430 was realized during review period from 2279903 units of share trade via 25195 transactions.</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">The accompanying figure demonstrates the sector-wise distribution based on total amount of trade. Banking sector accounted for 58.87 per cent of total trade followed by development bank sector (13.49 per cent) and finance sector (8.10 per cent). The rest was accounted by the remaining sectors. </span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Technically, Simple Moving Average (SMA) is shabby in both long term and short term. Both 30 days SMA and 200 days SMA are dominating the market with no clue of further correction shortly. Breaching the level of 350 is required for acceleration.<br />
		<br />
		<strong><br />
		</strong></span></div>
	<div style="text-align: justify;">
		<strong><span style="font-size:12px;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)<br />
		<br />
		<br />
		</span></strong></div>
</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The Nepse Index needs to cross 350 to inspire the investors, shows this analysis. With Nepse Index continuously sliding down, the month striding over August-............',
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	(int) 6 => array(
		'Article' => array(
			'id' => '478',
			'article_category_id' => '48',
			'title' => 'Nepal In 10 Years (October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<strong><img align="left" alt="nolaughingmatter" border="1" height="173" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3(3).jpg" style="width: 143px; height: 173px;margin:10px;padding:10px;" vspace="5" width="143" />By Madan Lamsal</strong></div>
	<div style="text-align: justify;">
		<strong><br />
		</strong></div>
</div>
<div style="text-align: justify;">
	Where will Nepal be in 10 years? Many may imagine that in next ten years, Nepal will also become like Afghanistan or Somalia where no good people can stay. But I feel otherwise. In 10 years, Nepal will be at par to fully developed countries and livable like a heaven. At least the words and actions of Nepal's business community, government and the main political leaders clearly indicate to that.</div>
<div style="text-align: justify;">
	<br />
	In recent years, many of Nepali entrepreneurs have proved themselves very innovative in businesses by selling sweets to cereals and setting-up restaurants to bottling water plants. Nepal's private sector has shown a true entrepreneurial spirit.&nbsp;They know how to exploit the ignorance of common people by taking advantage of true free market of Nepal, regulated by none but only Lord Pashupatinath.</div>
<div style="text-align: justify;">
	<br />
	<br />
	The foreigners must be watching all these developments with very keen interest. Therefore, within 10 years Nepal will receive thousands of foreign direct investments (FDI). Because, foreign investors have already seen that there is almost zero FDI in this country except few Indian joint ventures companies struggling here to breathe. Therefore, it is a virgin land for them to invest. Foreigners may have also observed that Nepali workers have been working in foreign countries with paltry salary and they are so loyal there. If these very Nepalis are given jobs in their homeland they will definitely be happier and more loyal to the FDIs. Moreover, the new Finance Minister, who <img align="left" alt="nolaughingmatter" border="1" height="414" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-no laugh.jpg" style="margin:10px;padding:10px;" vspace="10" width="350" />is said to be the man with action or man with a gun, has already said that year 2012 will be the ' Year for Investment '.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	In 10 years Nepal plans to attract more than 20 million tourists a year. Because two years ago Prachanda, the then PM of the Maoist government had announced that Nepal will receive 2 million tourists in 10 years time. Again Maoist is in the power now. So we can definitely hope that they will force many tourists to visit Nepal. They will visit Nepal as well as they do to Vietnam or Russia to see the truly endangered disciples of Lenin and Che Guevara. Tourists will not visit Nepal only to see mountains or for trekking but to get hold of the rarest sights like the YCL camps at factories and to see their commandos' street gang-fights.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	In a decade, Nepal will produce at least 20,000 megawatt electricity not from the hydropower but from road garbage, wind and cow dung, etc. The impact will be such that Nepal will no more need to import petroleum. By then power consumption will increase so much that export of electricity will be obsolete issue. India, who has been waiting for Nepal's electricity for her industrial growth will be bewildered. The pipeline for petroleum that has been laid out from Lhasa to Khasa of China will be useless. Rather, Nepal will earn a lot of money from the carbon trading because of zero consumption of petroleum products.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	Many foreigners from American to Europeans and from Japanese to Singaporeans will apply for working visa here as many of them want to work in the developed Nepal in 10 years time. So there will be a huge problem of illegal foreign workers. So the main task of almost all foreign diplomats' in Nepal will be to seek an appointment with Nepali leaders to rescue their citizens from different illegal indulgences.</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Where will Nepal be in 10 years? Many may imagine that in next ten years, Nepal will also become like Afghanistan or Somalia where no good people can stay...............',
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	(int) 7 => array(
		'Article' => array(
			'id' => '477',
			'article_category_id' => '46',
			'title' => 'Pasi Koistinen',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><strong><br />
	</strong></span></p>
<p>
	<span style="font-size:14px;"><strong>We Want To Make Mobile Telephony More Affordable</strong></span></p>
<p>
	 </p>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Pasi Koistinen </strong>is the President and CEO of Ncell Private Limited, which became the largest telecomoperator in Nepal some months back overtaking the state-owned Nepal Telecom. The company reached the figure of six million customers recently. Ncell, the first private telecom operator of Nepal was rebranded to its current name in 2010. Nordic telecom giant TeliaSonera has a large stake in the company. Koistinen joined TeliaSonera as a Director in 1998 and took up the position of Ncell CEO in May 2009. He has also served in top managerial level in diverse fields like hospitality business, advertising agencies and telecom service in countries like Finland, Singapore and China. In an interview with Gaurav Aryal of New Business Age, Koistinen shares his views on Ncell's growth, Nepal's telecommunication market and a whole lot of other issues. Excerpts: <img align="right" alt="Ncell" border="2" height="279" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview_pic2.jpg" style="margin:10px; padding:10px;" vspace="10" width="180" /></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Ncell's customer base has crossed six million. How sustainable is this rapid growth in the number of customers? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We have reached six million customers but the penetration is still low in Nepal. We are talking probably somewhere in the region of 50 per cent, meaning that only half of the population have mobile phone connectivity. So, there is still a huge potential. We are expecting the same kind of growth in the future as well because we believe that people need mobile phones. We have experienced rapid growth in the last two years and increased the customer base by three million within a year. So, mathematically speaking, we should have nine million customers after a year if everything goes as expected. The growth is sustainable because every customer we get into the system is generating revenue. The most important aspect is that our customers are happy with us. Therefore, we plan to continue investing in our operations. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>At the time of rebranding, Ncell had only about 2.2 million customers. It has taken a giant leap since, in terms of customer base, coverage and brand name. What is the secret of this huge success? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Rebranding was like a new promise not only for our customers but also for our company and the employees to increase the overall customer service level. So, we decided to invest heavily in the network and subsequently, the rebranding exercise. We doubled the network before the rebranding to make sure that we have something to operate that is good quality network. When we started marketing the new brand, it was an entity of this whole package of services. Service, in our case, is very intangible in the sense that people call each other and there may be 100 million transactions each day. We have to guarantee that these transactions are successful because it's only then that people will come to us. I think this was a major reason for our huge success. Of course, rebranding was another very essential component of our success.<br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>With this tremendous growth, Ncell must be making a huge profi t now. How are you doing on revenue? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Well, it depends what you call a profit. We are not profitable yet if you talk about cash flow which is the main issue when talking about profitability. Revenues are good and we have gained a lot of market share during the last couple of years. But we have invested a lot on infrastructure as well so a big investment takes time to recover. We are spending three to five times more in infrastructure than in other TeliaSonera countries due to difficult terrain and climate. We have to remain humble towards our customers and give them good services and hope that results will follow in due time. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What kind of policies do you have to attract more customers especially from rural areas? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">As you must have seen, we have had a lot of campaigns in rural areas. We want to support the campaigns knowing well that not everybody in Nepal has the same amount of money. Therefore, we have had a lot of rural campaigns to make mobile telephony more affordable for everybody. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Though Ncell has sold more than six million SIM cards, it is said that a large number of SIM cards issued are not in operation. What is the actual number of your active mobile phone customers? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Active ratio varies, of course. Out of the over six million sim cards we are talking about, we know that some of them are not currently in operation. There are people who switch on their phones at certain times only for receiving calls because it does not cost anything for the receiver. The active ratio varies between 80 per cent to anywhere close to 100 per cent. For example, it was almost 100 per cent when we had the earthquake on 18 September. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Tell us about TeliaSonera's Nepal experience in comparison with other countries? </strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">TeliaSonera has been very happy about the investment in Nepal. We are already in number three position among all nine countries in terms of number of users. So, naturally TeliaSonera is very satisfied with what we have done here. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>How is the response to your smart phone service like Blackberry? <br />
		</strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We launched Blackberry because we wanted to make a difference and we are the only operator selling Blackberry in Nepal. We knew from other markets as well that Blackberry will become an essential service for the people who need to be connected while on the move and people who have enough money. In this respect, we are very happy about it. This is an exlusive service targeted at an affluent segment of the market. <br />
		<br />
		We also have Ncell Pro which is a very good approach. In the longer run, we are expecting it to be a great success because we combine the handsets and talk time, sim card, data package and sms package as one set that is easy to buy. But it takes time for people to realise the benefits of it. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>It is said that Ncell and NTC the two telecom giants have left no space for new telecom operators. Is it really that diffi cult for new comers to penetrate in the telecommunication market now? How many operators do you think this market can sustain? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Well, this is a free market and anybody can invest and operate here. However, we do not have many companies in Nepal who are ready to take the risk by investing first. TeliaSonera has a history of entering emerging markets early. Kazakhstan was among the emerging markets we entered soon after Soviet Union collapsed, in 1994. It takes time to build the kind of massive operations that we have so it's not an easy business. I personally believe that this market can sustain three operators. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><img align="left" alt="ncell" border="1" height="426" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview_pic1.jpg" style="width: 356px; height: 426px;margin:10px;padding:10px;" vspace="5" width="356" /></strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What is your take on the practice of squatting on the spectrum license? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We actually have enough spectrum allocated to us and so far we have paid for the spectrum and the license in full. We have also fulfilled all the requirements of the NTA concerning the licenses including the spectrum. On our part, we are clear and it's not for me to analyse about some other companies holding spectrum. NTA too has introduced a fee for companies not using the spectrum effectively enough. It has the provision to penalise them for the so called holding of frequencies. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What are your expectations from the regulatory authority for the improvement in quality of services along with this sectors growth and expansion? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Many things have been clear in the sense that we want to have a level playing field. Especially, when NTC is a government corporation, they do have the advantage of being in the country earlier than us. But the biggest issue is that they are not following NTA regulations. Let me give you an example. There is a rule that the congestion between the operators can be maximum 0.1 per cent meaning that one call out of 1000 can fail. Now, the situation is that for the past two-and-a-half years, I have been here and we have been talking about NTC not being able to give us enough capacity and units so that our subscribers can freely call the NTC network. During the peak hours, the congestion can be up to 60 per cent which is unfair. <br />
		<br />
		We had a very open discussion with NTC and NTA asking them to give us the space because we want to build a good telecom infrastructure company in this country. But, we are compelled to follow what someone else is doing. We don't want to be dependent on our competitors and want them to follow the regulations that are laid out. There is also the issue of cross subsidising, meaning, if you have an NTC mobile phone, you can call the NTC landline without any interconnection charge. However, in our case, we have to pay 52 paisa for every minute when our customers make calls to their network. This means that we cannot be price competitive with NTC on that level and this, of course, is a very wrong practice. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Some time ago, Ncell had commented that the authority was biased against the private telecom operators and especially Ncell. What was the biased treatment? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We are the biggest foreign investor in Nepal so we are requesting for equal treatment and equal level playing field. For examplem, for permission requirement, foreign exchange permission and license renewal fees should be equal for all operators which has not been the case so far. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>WiMAX and 4G spectrum are not issued by the authority yet. Why do you think they are rigid about it? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">To tell you the truth, 4G is essential. But it is not urgent because we are totally occupied building the 2G network. We have always seen that people are very keen on using wireless broadband. Our Ncell Connect became the number one ISP in the country within a period of eight or nine months which really proves that people are willing to have wireless internet connection. I don't believe in WiMAX at all as it is a very limited kind of technology with no handsets available and promises to be an expensive proposition. I really intend to request the government to concentrate on GSM because evolution such as the 4G will continue to take place. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Do you think 4G will be suitable for Nepal?</strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Sure, because it gives excellent speed for data surfing. Now with HSPA, we can go up to 3.6 mbps and with HSPA plus, we can go up over 7 mbps. For instance, when 4G was launched in Sweden, it brought huge improvement to data speed. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>How long will your aggressive marketing continue?</strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">I hope that we continue in the same manner forever. This is a continuous business and we have to give people value for money and time. Marketing is not only about marketing communication, but also about best customer experience. Marketing communication gives promises via billboards and advertisements. But we have to fulfill those promises with other aspects of the infrastructure - network, billing system, call centre, point of sales etc. Our aggressive marketing has reached us this far. So, we are more than happy to continue practicing it and hope that it pays us great dividends in the long run. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><br />
		</strong></span></span></p>
</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Pasi Koistinen is the President and CEO of Ncell Private Limited, which became the largest telecom
operator in Nepal some months back overtaking the state-owned Nepal Telecom. The company
reached the figure of six million customers recently. Ncell, the first private telecom operator of Nepal
was rebranded to its current name in 2010.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '476',
			'article_category_id' => '47',
			'title' => 'Flight Of An Aviator',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size:12px;"><b><img align="right" alt="gyanendra" border="2" height="329" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-personality.jpg" style="margin:10px;padding:10px;" vspace="10" width="350" />Gyanendra Bhakta Joshi</b></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Managing Director</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Swift Air</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Gyanendra Bhakta Joshi, Managing Director of Swift Air, is determined to touch the sky with his dream project. It is his passion for aircraft and tourism that drove Joshi to set up his own airline. He says he decided to venture into the airline sector to set a milestone in the aviation market.<br />
	<br />
	</span></div>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>By Gaurav Aryal<br />
		<br />
		</strong></span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Once on the day of Vijaya Dashami, Gyanendra Bhakta Joshi's elder brother blessed him that he would own an airline one day. While working with Skyline Airlines that is not in existence today, Joshi secretly wished he would have a company of his own. His dream got a new life after meeting Bishnu Prasad Khadgi, now his friend and business partner.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi is Managing Director (MD) of Swift Air Nepal Pvt Ltd, a newly established domestic airline. Swift Air is planning to commence its operations from October. He said that the company is bringing in two aircraft in first phase. Of these two, the first one is to arrive in October. Joshi, enthusiastic about making his dream project come alive, is spending day and night just to make sure that his dream is realised.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">It was in the alleys of Ason that Joshi wandered around as a child. Though his ancestors were from Bhaktapur, his grandfathers moved to Kathmandu. He went to St Xavier's School Godavary and later transferred to Ananda Kuti Vidyapeeth at Swayambhu, where he completed his schooling. He credits St Xavier's for making his academic base strong. Joshi graduated in Commerce from Shankar Dev Campus.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">His family had a hardware store at Ason. Joshi's father and grandfathers had dedicated their life entirely to business. But his uncles took to the service industry. Joshi followed their footsteps and landed in the tourism sector.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">He began his career from assistant level in Everest Express Tours and Travels around 25 years ago. That was my first job and I was paid Rs 400 a month, he recalls. In the following years, he worked in Pristine Travels, Tiger Tops Resort and even USAID. Then, I entered the aviation sector with Skyline Airlines in a managerial position, he shares his journey to the airlines business. He has even worked as Sales Manager with GMG Airlines of Bangladesh. I like this sector, so, now I am fully into it, says Joshi. He says his career in the tourism, travel and airlines helped him develop a passion for these areas. Joshi reveals, he is obsessed with aircraft and often visits websites of Boeing and Airbus to update himself with the latest developments and innovations. Now, I have my own aviation company because of that passion, he boasts. Joshi is proud that he has made his brother's blessings become a reality.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi counts Skyline's Executive Director Dorje Sherpa as his aviation guru. Whatever I have learned, I learned it from him. I express my gratitude to him for what I have become today, he acknowledges. The aviation know-how did not easily make him the MD of Swift Air. Joshi's hard work, dedication and struggles have paid off.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">It was three years back that Joshi had thought of setting up an airline and he even started working towards that. Unfortunately, it did not turn into reality. After one and a half years, he met Bishnu Prasad Khadgi who is now Executive Chairman of Swift Air. With one year of homework they received AOC (Air Operator's Certificate).&nbsp;Joshi's two sons who are living overseas are happy to know about their father's venture.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Khadgi is his only business partner now. Though they had targeted to fly from January 2011, they are now planning for an October launch. Cost is too heavy as it requires setting up offices in every destination. However, this also creates job opportunity in every destination we reach. I feel proud to give employment to more people, he says.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi says his company will have around 70 staff members in the beginning. According to Joshi, good incentives and listening to their complaints will motivate staff. He feels that boss is not always right. Joshi thinks staff is the asset of a company. I advise and assist my staff as and when required. I will treat all my staff equally, he shares his human resource management principle. He believes in giving opportunity to new comers too.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not believe in interfering much in the office management. Although, he wants the line of communication maintained.We just want to know what employees are doing. They must also feel that they are working for their own company and we believe they will. When the company prospers, they will prosper too, he opines.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not have much to complain about the aviation policy of Nepal. However he is dissatisfied with air traffic problems. He urges the government to find a solution as soon as possible. He sees a good future and market prospect for the travel industry. He reveals this is one of the reasons behind establishing his airline business. He observes that the tourism sector is growing more every year and he wishes it to boom in the future. According to Joshi, aviation industry is doing well. He says, We established the company with the motto: Let's be a part of aviation team in Nepal.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi has already thought of expanding the business in the future. However, he and Khadgi do not have plans to do it within two years. They want to first sustain in the competitive market. After two years, we will go for expansion,he discloses.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">I am more focused on my dream project, he says with a touch of grit. At least 12 hours of his day is spent in work. Joshi says he gets time for his family only during mealtime. However, on Saturdays, when he is mostly on leisure, he loves to go on a drive with his wife. Apart from that, his free time is spent meeting with relatives, staying at home, watching TV or listening to music. He does not usually travel but he promises to do so as his new venture will require him to travel. At times, Joshi feels lonely when his sons are not with him. He says being away from sons have become his part of life. Joshi lives with his wife at Sitapaila.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not have regrets about his career. He feels he is happy with what his life has given him. I have settled down and I possess everything I need, he expresses contentment. The only regret he has from his life is that he could not save his mother who was suffering from cancer. He took her to the best hospitals in Mumbai and Delhi but she could not be saved. That was the saddest part in our life: for me and my family. It has been almost 15 years, but still I feel like crying when I remember those times, he gets sentimental.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi's life is closely knit with his profession and his dream project.&nbsp;His wishes, his dreams are associated with his newly established company. I just want to see Swift Air growing.&nbsp;The more it grows, the more people will be employed. And, I wish we could add more aircraft to the fleet, he says.</span></div>
<p>
	<span _fck_bookmark="1" style="display: none;">&nbsp;</span><span _fck_bookmark="1" style="display: none;">&nbsp;</span></p>
<h2>
	<span style="font-size:16px;"><strong><code><span dir="ltr"><span style="background-color: yellow;">Personal side</span></span></code></strong></span></h2>
<p>
	<span _fck_bookmark="1" style="display: none;">&nbsp;</span><span _fck_bookmark="1" style="display: none;">&nbsp;</span></p>
<ul>
	<li>
		<span style="font-size:12px;">Not active in social activities</span></li>
	<li>
		<span style="font-size:12px;">Not much gadget savvy uses iPhone and a laptop</span></li>
	<li>
		<span style="font-size:12px;">Loves driving</span></li>
	<li>
		<span style="font-size:12px;">Prefers driving motorcycle to a car in Kathmandu streets</span></li>
	<li>
		<span style="font-size:12px;">Does not play games but watches sports channels</span></li>
	<li>
		<span style="font-size:12px;">Likes gardening</span></li>
	<li>
		<span style="font-size:12px;">Loves watching National Geographic, Discovery, Star Movies, HBO</span></li>
	<li>
		<span style="font-size:12px;">Good music fanatic</span></li>
	<li>
		<span style="font-size:12px;">Likes reading magazines and newspapers</span></li>
	<li>
		<span style="font-size:12px;">Does not drink alcoholic beverages except beer</span></li>
	<li>
		<span style="font-size:12px;">&nbsp;Not brand conscious but believes in looking smart</span></li>
</ul>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Determined to his achieve success, Joshi is not ready to step back. This is the time to watch him take off and see him touch the sky.</span></div>
</div>',
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			'title' => ''NRB Will Take Every Possible Measure To Bring Liquidity Problem Under Control'(October 2011)',
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	<span style="color:#(color);"><span style="font-size: 14px;"><strong>Gopal Prasad Kaphle </strong>is Deputy Governor of Nepal Rastra Bank (NRB), the central bank of <img align="right" alt="" border="2" height="356" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/gopal prasad kaphle.jpg" vspace="10" width="250" />Nepal. He was appointed to the post on December 26, 2010. He started his career in banking in 1955 and is devoted to this sector for more than 29 years. During this period, he worked in banking operation, branch operation, development finance, micro finance, public debt, training, and banking inspection and supervision department. He completed Masterâ€™s Degree in Economics from Tribhuvan University in 1979. He also has a Masterâ€™s Degree in Economics from the University of New England, Australia. In an interview with <i>New Business Age</i>, Kaphle speaks about the current situation in the banking sector and NRBâ€™s regulatory plans for the future. Excerpts:<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Total net profit of commercial banks has increased by 2.28 per cent compared to that of last year. Why is the growth so low?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">The growth rate compared to a few years ago is quite low. However, there is no reason to be unhappy about the profit earned by financial institutions. There are some factors that have caused the liquidity problem such as absence of investment area and environment, turmoil in real estate, margin lending, and until last year delayed government budget. Despite these all, BFIs (bank and financial institutions) are successful in making profit and provide relief to shareholders and promoters. In the coming years, if the things change for the better like a timely budget, investment friendly environment and good corporate governance, we can be more optimistic about the high growth in profit.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Problem of liquidity is still not solved. What is the real scenario at present? How long will it take to overcome this crisis?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">If we look at the liquidity inside financial system, there are not many reasons to worry about. A couple of months ago, commercial banks had Rs 22 billion surplus liquidity in the market. Prior to that, more than Rs 30 billion surplus liquidity was observed in commercial banks. Most of the commercial banks except only a few are in surplus. Among B and C class financial institutions, some have surplus while others are in deficit. Moreover, commercial banks are at ease while development banks and finance companies are not completely out of the woods. If we look at inter-bank lending rate, till date, only some finance companies are still borrowing at 15 or 16 per cent. Commercial banks were borrowing at one per cent some time back but at present they are borrowing at around 1.5 per cent. This shows, there is ease in the system but at the individual level, some bank and finance companies are still in problem. But, the liquidity problem is not completely resolved.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">This time of the year is normally the period of ease. During this period, the government budget has been passed by the parliament. There have been fewer investments. Loan and interests repayment rate in the commercial banks is good. That makes the liquidity problem to look relieved. We are also in a wait and watch mode to see what the situation is after Dashain and Tihar. I believe there wonâ€™t be big problems like in previous years. At such times, we cannot deny the possibility of problems. However, we are alert because of the lessons we have learnt. Public trust has developed in the banking sector. In the coming days, NRB will take every possible measure to bring this problem under control. The government has also assured that. NRB, if required, will use any instruments like refinancing to LOR (Lender of Last Resort) to bring the situation in control. To make sure that liquidity does not remain idle, we are issuing development bonds and treating B and C class institutions can participate in such instruments. We are putting them in a separate basket. I am trying to ensure the environment to cash in on instruments whenever there is any problem of liquidity. Problem is psychological too. And, commercial banks are also optimistic that the problem will ease. I believe the problems of the past will not repeat.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">The average non-performing loan out of total loans has increased to 2.41 per cent from 1.92 per cent of previous year. What is your take on this?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">This may be realistic too because the biggest problem currently is real estate loans. The financial sector is not mobile. Economic activities are missing; industries are not moving on the right track, there are problems of labour and import-export. Due to unstable government, policies are not implemented. We also realise that NRB has become quite aggressive and taken tough policy measures. We tried to address the problem of good governance that has been left unaddressed over the years at once instead of treating it in a step-by-step manner. Due to the absence of investment environment to tap such opportunities, lending in industries have problems of recovery. Industries may not be running, some might have been closed down, there are labour issues. So, loans are not being paid back. Some banks and finance companies were in problem. So, we decided to liquidate some companies, and because of that, their non-performing loans must have been added. Real estate loans had the largest market share. We put a cap on lending to the real estate. The sales of real state also faltered. As developers cannot sell, they could not repay the loan. We have tried to ease it. However, market and economy as a whole has effects on business and non-performing loans increased.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">On NRBâ€™s inspection and supervision part, we have managed it. Compared to the past, we have improved our vision and efforts to solve problems, monitoring and inspections. After our effective inspection, institutions are not able to turn bad loans into good. That has also led to increase the volume of such loans. Increase in such loans does not mean banking systemâ€™s status has deteriorated than earlier. This is another side of NRBâ€™s inspection, supervisionâ€™s smoothness and effectiveness.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">NRB is planning to adopt a risk based supervision system. What will be the modality of such a system? And, how soon could this be implemented?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">We have various modalities in this risk-based supervision system. There are numerous risks like subjective, managerial and operational among others. Our inspection department categorises specific risks from every sector. Based on that, we define our observation. There may be risks in one sector while others may be safe. This modality tries to take a multidimensional approach to maintaining discipline. It is a change from traditional supervision mechanism. The mechanism is envisioned to ensure that banks and financial institutions should not be in trouble because of any sector or cause. It considers not only good governance, capital base but also operation, investment portfolio among others. This modality aims to calculate and mitigate risks from any sectors. It is based on our belief that a bank must be healthy, strong and create a separate identity in the market.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">Risk-based supervision is applied within NRB too. We are applying it in our departmental operations. It is already under application. We believe risks must be mitigated. We now have to take it forward effectively and give continuity to it. We have to calculate risks that may arise in the future.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">IMF had suggested NRB to exercise more power. What are the new steps NRB is planning to take?<br />
	<br />
	</span></strong><span style="font-size: 14px;">Exercise of power must be viewed considering a couple of elements. NRB exercises power based on NRB Act and BAFIA. BAFIA is in the house and discussions are going on to amend it. It must be strong. The government sector also has a role to make NRB active. We have focused on a few things like taking prompt action on the problems witnessed in financial institutions. NRB must be given right to take prompt action against any issues of good governance. For now, it takes a long time to take action against any person who is proved guilty. The process requires informing the Ministry of Finance then the Ministry of Home and finally the police. If we had power, we could have taken action against some financial criminals. So, NRB must be powerful and the government intervention should be less. NRB should be guaranteed a strong autonomous identity. For that, the status of Governor and Deputy Governor of NRB must be raised which would lead to more power. There must be such provisions that police can make arrests and take actions based on our letter. Time lag that is in existence is encouraging culprits to flee. We are demanding to increase our rights and that will help maintain discipline in banks and financial institutions.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">What is NRB doing to restore public confidence in financial institutions that is said to be at a low ebb?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">I donâ€™t fully agree with it. At present, public confidence is improving. The confidence started declining when there was crisis of new notes during Dashain around two-three years back. Then, slowly public belief diminished in the entire banking system. And, it heightened with the liquidity crunch. At the same time, some companies were in problem and as a result, trust in the entire financial system eroded. If NRB had not been able to take action and correct its policies, the confidence would have fallen more. We tried hard and deposits have increased, profit has grown though a little and the people are returning to banks for deposits. People kept their money with themselves as some banks could not give loans, or even return deposits. We have moved on from this situation. The increased deposit and surplus liquidity is all because of increasing public confidence. I donâ€™t think commercial banks should worry but this is not a siesta time. Public is so sensitive that if it does not get good service there will be shift in belief and trust. Public confidence must be won with good service, good governance and transparency.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">A demand to stop issuing license to financial institution is heard. Is NRB planning to take such action?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">A couple of things must be taken into consideration. Firstly, the number of financial institutions needed for Nepal with respect to our scale of economy must be clear. Another, there must be clear demarcations of public status like deprived groups, remote areas, hilly and mountainous areas and developed areas. We have already faced the consequences of rampant establishment of banks and finance companies. So, we are going for merger. One policy was formulated, companies came meeting the requirements and licence was issued. We have seen its consequences. NRBâ€™s capacity for inspection and supervision was witnessed along with banks and finance companiesâ€™ capacity and implementation of good governance. Often question is raised whether a company can be established or not just with a certain amount of capital. The number is one question, while deepening access of service in certain geographical region and population can be another. Access and inclusion of financial and banking service to all regions must be analysed. The measures to cater to that group or region deprived of service must be pointed out. Similarly, unhealthy competition arises from increased number. The cake is shared by all institutions even as their number increases. Eventually, the size of activities will also diminish. Considering it, a suitable policy and environment must be created. It does not mean we should not issue any licenses. We had prioritised microfinance and its number has also exceeded. There are a lot of duplications. It must be analysed whether a particular area requires more companies or service. Whether to go for branch expansion or number of institutions are two options. So, whichever is feasible we must concentrate on that. Every region and every group of people must be able to access the services and share the cake of national economic development. We must devise our licensing policy accordingly so that there is no duplications and quality facilities are evenly distributed. We are making such policy. We are forming a five-year strategic plan in which we have planned to review the licensing policy. After formulation of that outline, we will have suitable licensing policy and we will bring in merger to control excess institutions and expand in areas with scarcity. That will be either by motivation, giving additional services or accelerating, we will take banking services to those areas.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Till date, a merger between two commercial banks has not happened. Do you think the mergers that are happening are satisfactory and meet the expectation of NRB?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">The expectation of NRB on merger is not met. For the coming days, NRB is offering two options: merge and get incentive or be ready for forceful merger. If motivational measures do not work, we will have to go for forceful mergers. IMF and other world bodies have suggested that the number of financial institutions is exceeding the national capacity and need. Our only target is to merge the financial institutions, increase their capital base and ensure good governance. It is our continued effort. There are policy complications and we are relaxing them. We are inviting them to come for merger as soon as possible. It is obvious that some practical problems come during mergers. Nobody wants to lose anything. There canâ€™t be two CEOs, chairmen or GMs. Problems in managerial aspects are visible. Someone must compromise something. NRB is determined and it will make mergers anyhow.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">NRB is trying to correct several of its mistakes of the past like cap on CEO salary, margin lending and real estate? Why does NRB take ad-hoc decisions in the first place?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">I donâ€™t think so. While trying to manage something in an open system, ripples like in a pond hit by a stone are visible. We did not compromise even while deciding CEOâ€™s salary. It is implemented now. We had some policy difficulties regarding B and C class institutions. There would be large variations if similar policy is applied in all financial institutions. It is difficult to manage as there are institutions confined to a district and also large national institutions. Now, we have addressed it through a new policy. We have let them decide independently on salary but based on certain backdrops.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">How long will it take to improve the BoP situation to a comfortable level?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">BOP has improved lately and it was in surplus in June/July. It will continue to improve in coming months too. I donâ€™t think we will go into deficit this year but having said that we should not stay idle. It is getting positive and we are optimistic. There are countries which have deficit balance of payment and are still considered developed. In countries like ours, where there is small source of income and imports are big, some discipline must be maintained like increasing our productivity in sectors like agriculture and increased credit flow to the productive sectors. Internal production immediately helps BoP. We have requested financial institutions to invest in such areas. When the government budget flows to those areas, production increases and jobs are created. That will have multiplier effect and export will also increase. Import of luxurious goods must be discouraged while development oriented activities must continue. Other options than remittance also need to be sought to remain in safe position.</span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
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			'description' => 'Gopal Prasad Kaphle is Deputy Governor of Nepal Rastra Bank (NRB), the central bank of Nepal. He was appointed to the post on December 26, 2010. He started his career in banking in 1955 and is devoted to this sector for more than 29 years. During this period, he worked in banking operation, branch operation, development finance, micro finance, public debt, training, and banking inspection and supervision department.',
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			'id' => '474',
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			'title' => 'We Are Sailing Easy For Now (October 2011)',
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			'content' => '<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><strong>Sashin Joshi </strong>is the Chief Executive Officer of Nepal Industrial &amp; Commercial (NIC) Bank Limited. <img align="right" alt="" border="2" height="378" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sashin%20joshi.jpg" vspace="10" width="250" />He is also the Chairman of National Banking Training Institute (NBTI) besides being the Immediate Past President of Nepal Bankers Association. He holds an MBA in Finance, a Post-graduate Diploma in Marketing and is Credit-Accredited by international banks. Having started his banking career in 1986 with Nabil Bank, Joshi has also worked in Australia and New Zealand Banking Group, Melbourne, and ANZ Grindlays Bank, Kolkata. He was a Director of the Board and Head of Corporate &amp; Institutional Banking at Standard Chartered Bank Nepal before moving to NIC Bank. Also a Founding Director of Rural Micro-finance Development Centre (RMDC), he aspires to contribute in scaling-up reform in Nepalâ's financial sector by working closely with the government, the central bank and the private sector. In an interview with Pinaki Roy of <i>New Business Age</i>, Joshi analyses the performance of Nepal's commercil banks over the past year and recommends remedial measures on issues that plague the sector. Excerpts:</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What is your analysis of the performance of Nepal's commercial banks over the past year?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">It's not very good. But honestly speaking, I was expecting it to be even worse. Banks were helped to a certain extent by some relief measures given by the central bank at the last minute. I had predicted that the aggregate profit of all the commercial banks put together would be negative. However, we have managed aggregate increase in profit by about two-and-a-half per cent compared to that of last year. My analysis is that the Nepal Rastra Bankâ€™s (NRB) relief measures in the eleventh hour helped us avert negative growth.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Total net profit of commercial banks in Nepal has increased by a mere 2.28 per cent compared to that of last year. What is the reason for this slow growth?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">The commercial banksâ€™ profitability was impacted for a number of reasons. As a result of extremely tight liquidity, banks started competing fiercely for deposits by going one-up on interest rates. The deposit rates increased significantly but the banks were not able to pass on all the increase to the borrowers. This resulted in the banksâ€™ average margin getting reduced. Many banks had to take on additional costs on account of personnel, utility, security, stationery supply etc among others. And of course, there is no business growth for reasons of political instability.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Liquidity crunch continues to persist. What is the severity of the crunch at this point of time and how long will it take us to overcome this?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">I would like to contradict you here. The liquidity situation has improved significantly over the past couple of months. It improved primarily due to two reasons: one is that there was massive government expenditure that happened towards the end of the last fiscal year. Besides, the budget this year came out on time and therefore, there was no gap between budget approval and government expenditure. On the external account, there have been a lot of reimbursements that have happened for projects which were undergoing or completed. Another reason is that due to very tight liquidity crunch and lack of favourable market conditions, banks were putting brakes on new lending. These two reasons together helped preserve liquidity. However, the real test will be when a lot of withdrawals will take place during Dashain and Tihar. Also, if the capital expenditure of the government does not coincide with the festival season, we could have another tight situation. For that, we will have to wait and see but for now, we are <br />
	sailing easy.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">The total non-performing loan has increased by close to 26 per cent as against last year. What could be the possible remedial measures?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">To tell you the truth, I had expected higher increase in non-performing loans. The relief given by the central bank especially to the real estate sector towards the end of last fiscal year provided respite because the borrowers were allowed to pay a month after the year end without attracting any provisioning. I believe there is still some under provisioning by banks.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">If there is a problem, you have to bite the bullet. Postponing a problem is not going to make the problem go away. If you have a problem loan, you have to recognise it as one and make appropriate provisioning for that. However, if a business can be revived through re-organisation or re-scheduling, then we should also make every effort to make that happen.&nbsp;&nbsp;&nbsp; </span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">How can public confidence in financial institutions be restored at a time when the banking industry has been troubled with lower deposit mobilisation?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(0, 0, 0);"><span style="font-size: 14px;">I think the financial system in Nepal is relatively sound, more so when it comes to </span></span><span style="color:#000;"><span style="font-size: 14px;">"A" </span></span><span style="color:#000;"><span style="font-size: 14px;">class commercial banks which account for 80 per cent of the market both in deposits and lending. Most of these institutions are well supervised, have reasonably large capital base and on the whole, well managed. The problem lies basically with "A"&nbsp; class institutions where quite a few corporate governance-related issues have surfaced. There is also a lack of regular and effective supervision by the central bank. If visible measures are taken in these two areas by the central bank and boards of these institutions, I think it will help in restoring public confidence.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What is your stance on granting banking licenses to practically everybody who applies for it? Aren't we overcrowded with banks in the urban centres while 70 per cent of the country still has no access to formal banking?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">That was the biggest problem. NRB effectively had just one criterion capital, so anyone who had the money could virtually open a bank here. That was a very wrong policy because banking is such a sensitive industry. Unlike other industries, banks are the custodian of public money where people put their trust. While allowing bank licenses, NRB should have a very prudent and strict criterion to ensure the right intentions of the promoters and the management.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">It's not a numbers issue. It's more about the quality of the banks and the effectiveness of the central bank's supervision. Banks are spreading out and more than a 1,000 branches have been opened in the last one year by all the banks put together. And most of these branches are located outside Kathmandu.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">We are being inundated with merger rhetoric for as long as one can remember, however, we haven't seen one till now. How serious are the stakeholders about this and how will it impact the industry?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">For any merger to happen, the basis is the potential value addition. Merger for the sake of merger is nonsense. If you look at the international experience on mergers, more than 50 per cent have usually failed. A merger is welcome provided there is value addition taking place between merging institutions by way of bringing in synergies, business, cost, reach, network etc. In Nepal's context, the cultural angle also comes into play. Factors such as multiple promoters with their own personal interests and their respective egos taking precedence etc override the fundamental business deal. That's why I believe that it's very difficult for mergers to happen here.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">However, if mergers do happen, it will definitely be good for the industry. Some degree of consolidation is required because there are too many small players in the market. Size does matter and provided there is a requisition from managements, better efficiency can be brought in.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">How long will it take to improve the BoP situation for us to get slightly more comfortable than we at present are?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">We have a huge trade imbalance and if we are going to depend solely on trade, it is going to take us a very long time. The export-import imbalance is quite severe which we can deal with it by building more manufacturing establishments and having a better industrial base. Even if we want to promote hydropower, the gestation period again is going to consume a lot of time. Therefore, purely based on trade prospects, it is going to take us a long time to improve the BoP situation. We have of course, been helped by the remittances brought in by Nepali Diaspora and also the aid coming through bilateral and multilateral donors that ensures capital inflow. Even if we have financial and political stability and the policies are conducive, we cannot expect wonders. To even expect that we will have a trade surplus will take us at least 10 years if we start now.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Why is it becoming more difficult to control inflation? What are your recommendations to successfully control inflation?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">In Nepal, inflation is primarily on account of two factors. One is the imported inflation which we can do nothing much about. Within this imported inflation, India plays a big role as two-third of our trade is with India which is just the formal trade. If you also take into account the informal trade, my guess is that it would be as much as 80 per cent. So, a lot of inflation is imported from India. The other factor is the supply side where there are no internal control mechanisms. The distribution cost is very high because of the transportation cartels and syndicates. Cost of power is very high in Nepal while the labour costs are ever rising. We still donâte have very good access in terms of roads which again makes it a bottleneck to get goods from one place to another thus adding up costs. We can do a lot on the internal side if the government becomes more effective in its functioning. Besides, the government must allow some subsidy to the agricultural sector otherwise our farmers just cannot compete with the farmers in India where you have subsidies for fertilizers, irrigation, power etc.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What are your expectations from NRB given the prevailing scenario where the banking industry has registered an excruciatingly slow growth?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">One expectation I have is that whenever NRB brings out any new policies, directives or circulars, they do it through a consultative process where stakeholders are involved and there is a dialogue. It's not necessary that NRB has to agree to everything that the stakeholders say but at least there is a two-way process when you take everybody into confidence. If a consultative process brings forth any new policies and directives, there will be ownership from the stakeholders themselves. It means that enforcement will be that much more easier because then it becomes voluntary.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">My second expectation is that while bringing out any new directives or policies, they should also try to emulate some of the best practices in the world and think it through before implementing them. We have seen in the past that in quite a few instances, they have come out with half-baked directives which they had to amend a number of times. That shows some kind of shallow thinking within the central bank when they come out with directives.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">Third one is that when they come out with any policies, they should not look only at the bad practices followed by one or two institutions and then paint everyone with the same brush. They must not generalise. If there are some bad apples, they should handle them individually and not treat everybody with suspicion.</span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-23',
			'keywords' => '',
			'description' => 'Sashin Joshi is the Chief Executive Officer of Nepal Industrial & Commercial (NIC) Bank Limited. He is also the Chairman of National Banking Training Institute (NBTI)..........',
			'sortorder' => '384',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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			'user_id' => '0'
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '473',
			'article_category_id' => '40',
			'title' => 'Business Of B-schools (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<strong><span style="font-size: 14px;">By Gaurav Aryal</span></strong></p>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="" border="2" height="252" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sep-cover.jpg" style="width: 251px; height: 252px;" vspace="10" width="251" /></span><span style="font-size: 14px;">During past one decade or so, one of the areas that witnessed a exponential growth in Nepal is the Management Education. Along with the growing demand of duly trained human resource in the field, the management education also thrived as the business in itself. The growing number of banks, financial institutions, corporate houses and increased awareness about the need for modern management expertise to run any commercial&nbsp;venture fueled the growth in management education. Private sector investment in setting up the state-of-the-art institutions and immensly improved quality of education indeed have had multiplier effect in adding attraction to both-investors and students. More than&nbsp;one and half dozen colleges affiliated to three universities - Pokhara University, Purbanchal University and Kathmandu University (KU) - are running either Master in Business Management (MBA) or Executive MBA (EMBA) or both. Though the Tribhuvan University (TU) has not introduced any of these courses, it is running Master in Business Studies (MBS) for decades now. TU plans to introduce an MBA programme in the near future. All these universities also run Bachelor in Business Management (BBA), a four year course while TU has Bachelors in Business Studies (three year course) as well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A few years back studying medicine was supposed to be the most prestigious academic pursuit for a whole lot of students and guardians. Today, the market demand, expansion of career prospects in management sector, growing importance of human resources in companies and distinct teaching-learning methodology are luring more students to management education, perhaps, more than in any other discipline. Nepali universities are also working hard to produce quality managers to compete in the market where top-notch managers are still mostly from foreign universities.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The History</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management education began in Nepal in the form of commerce education in 1954 with the establishment of commerce department in government-owned Tri-Chandra College. The college had introduced Intermediate of Commerce (ICom) and Bachelor of Commerce (BCom) programs with 27 and four students respectively. The programme was affiliated to an Indian university till the establishement of Tribhuvan University (TU) in 1959. The following year, in 1960, TU began offering post-graduate programme in commerce called Master in Commerce (MCom) as well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dr Bijay KC, the Dean and Professor at South Asian Institute of Management (SAIM), says introduction of National Educational System Plan in 1971 proved a milestone in the evolution of management education in the country. TU set up Institute of Business Administration, Commerce and Public Administration. This institute was renamed as Institute of Management in 1976. It is now called Faculty of Management (FOM).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Nepal National College (later renamed Shankar Dev Campus), Public Commerce College (Kathmandu), Nepal Commerce College (Lalitpur), Thakur Ram College (Birgunj), Mahendra Morang College (Biratnagar) ruled the roost for a long period in the management education of Nepal. Numerous prominent business persons&nbsp;and management gurus were educated in these colleges. These colleges were later brought under the direct control of TU (as TUâ€™s constituent campuses) following the introduction of National Education System Plan of 1971.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That system of complete state control on education was withdrawn in 1979 and TU started granting affiliation to colleges set up by the private sector. However, it was only after 1991 (i.e. after the advent of multi-party democracy) that there was real growth of colleges from the private sector in management as well as in other types of higher education. That was the year when Kathmandu University (KU) was set up. KU set up Management School (called KU School of Management or KUSOM) in August 1993.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That was followed by establishment of Purbanchal University in 1995 and Pokhara University in 1996. Thus, there are four universities in Nepal now providing management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">These universities are competing to introduce new tools and techniques in management education. For example, MBA with modern teaching-learning methodology and accordingly courses designed at these universities have helped maintain almost global standards in upper-level management education. A new brand of MBA â€“ EMBA has been introduced recently targeting practising managers. This management programme has been introduced in several private colleges affiliated to Pokhara University, Purbanchal University as well as the central college of KU called KU School of Management (KUSOM).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As of 2009, TUâ€™s FOM had 28 constituent colleges and 506 affiliated colleges. The latest entry (August 2011) in the website of Pokhara University shows that it has over ten colleges affiliated to it for different types of management education in the Bachelorâ€™s or Masterâ€™s level in addition to its central campus of PU School of Business. Similarly, KU has three colleges affiliated to it for such courses in addition to its central campus KUSOM. Purbanchal University has over 35 constituent or affiliated colleges for such programmes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">These colleges offer such courses as Master of Travel and Tourism Management (MTTM) at the Masterâ€™s level in addition to MBA, MBS and EMBA. At the Bachelorâ€™s level, there are other specialised programmes as well in addition to BBS and BBA. The examples are Bachelor in Hotel Management (BHM), Bachelor of Information Management (BIM), Bachelor of Travel and Tourism Management (BTTM), Bachelor of Business Information System (BBIS) and Bachelor of Commerce Studies (BCS).&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, despite such growth in management education in Nepal, a large number of Nepali students are still going abroad for management education. While that shows the growing demand for the higher education in management science, it has lured a number of foreign institutions to set up their campuses in Nepal or forge partnerships with Nepali colleges or universities.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The Growth</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Saroj Dhakal, Management Faculty at the recently established CG-CEDEMAS Institute of Management (CGCIM), feels MBA has now become a most sought after brand amongst the ones aspiring to make career in financial or managerial fields. This institute is a joint venture between Nepalâ€™s one of the porominent business houses Chaudhary Group and Englandâ€™s Centre for Development Management Studies (CEDEMAS).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Colleges offering MBA, EMBA or both degrees</span></div>
<table border="2" cellpadding="0" cellspacing="0" style="width: 424px; height: 987px;">
	<tbody>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">S. No.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Name of College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Affiliation</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University School of Management (KUSOM)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">2.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Ace Institute of Management</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">3.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Apex College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">4.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">National Open College (NOC)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">5.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Uniglobe College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">6.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University-Faculty of Management Studies</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">7.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">South Asian Institute of Management (SAIM)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">8.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu Don Bosco College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">9.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Novel Academy</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">10.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Presidency College Of Management Sciences</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">11.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Zenith International College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">12.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kantipur Hotel Management &amp; Interior Design College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">13.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">DAV College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">14.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Topper Management College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">15.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">White House Graduate School of Management</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">16.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Campion Kathmandu College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">17.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Birganj Public College, Birgunj</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">18.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Maharaja Agrasen College of Management, Birgunj</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">19.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Management Campus, Biratnagar</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">20.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nepal Bebasthapan (Sang) College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">21.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">King's College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">22.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Presidential Business School</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">23.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nova International College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">24.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Lord Buddha Education Foundation (LBEF)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Sikkim Manipal University (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">25.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International Center for Academic College of Distance Education &amp; Online Studies(ICA)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Indira Gandhi National Open University (IGNOU) (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">26.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nepal Information Technology</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Indira Gandhi National Open University (IGNOU) (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">27.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Institute of Banking &amp; Management Studies</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Bharathiar University (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">28.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">KFA Business School</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Vinayaka Missions University (India)</span></div>
			</td>
		</tr>
	</tbody>
</table>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Apart from the banking and financial system, the demand for professional managers is equally strong in other sectors like tourism and hospitality, energy, agriculture, public sector and others.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As the reasons for growing attraction and development of management education Dr Bijay KC lists development in infrastructure over one-and-a-half decades, change in the trade and occupational patterns in Nepal, growth in media, information technology and development of financial sector, among others. MBA and EMBA graduates are more in demand in the private sector than in the government. KC feels that globalisation and liberalisation have spurted the demand for quality managers.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Prof Dr Geeta Pradhan, Dean at Faculty of Management Studies at Pokhara University, says â€œThe growth of banks and corporate houses has definitely added attraction to management studies in the country. Similarly, MBA teaching methods has several in-built practical approaches with internships, project works and case studies.â€ She thinks such approach of teaching-learning methodology produces graduates that are competitive in the work environment and turn out to be capable managers. She added, â€œManagers are required in every field â€“ hospitals to corporate houses. This has created the demand for management graduates.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, Prof Dr Dev Raj Adhikari, Head, Central Department of Management, Tribhuvan University, says that the current growth is not of the actual business schools but in the business studies. He gives credit for this to leading four universities for the growth. He says, the number of students and resource persons is growing along with the demand for competitive human resources in the market that is also growing. Adhikari says, â€œManagement education has improved in terms of both quality and quantity.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<strong><span style="font-size: 14px;">Student Psyche</span></strong></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">MBA students are often tagged as job creators in foreign universities for their attitude summarised as: â€œWe donâ€™t seek job. We create jobs.â€ However, that attitude is not so common among Nepali students. Pradhan says, â€œStudents are not sufficiently eager and positive towards setting up their own business. When I encourage my students about coming up with such ideas, I donâ€™t see enthusiasm in them. I think they are quite lazy. Working in a bank is considered prestigious while setting up a farm by an educated person is not given respect in our society.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari says, â€œMore than 95 per cent students are job seekers.â€ He says it is engraved in our culture to search for jobs rather than create one by taking risk of being an entrepreneur. However, he shares some examples of his students who are willing to take up an entrepreneurâ€™s career. â€œSome MBA graduates have established their own cooperatives and finance companies, which is quite positive.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dr Subas KC, Dean of KUSOM, says that most of the students in his colleges are from well-off families and they prefer easy desk jobs in banks rather than hard work, of setting up companies and being an entrepreneur.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Social psyche, parentâ€™s expectation, socialisation and schooling are blamed for this mentality of job seekers rather than job creators. In fact, MBA courses are not designed to produce graduates who seek jobs but it is designed to produce managers and entrepreneurs. Risk taking attitude is said to be missing among students and aspiring entrepreneurs.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dhakal however points out that the level of risks to be shouldered in our society is higher than in other comparable countries including in the immediate neighbourhood. Lack of security, extortions and unfavourable investment environment are driving away graduates from setting up their own business, he argues. Julie Peters, Project Director CGCIM, says her college provides incentive to students with best ideas to set up their own business at the end of their studies to promote entrepreneurship.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Curriculum</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management course covers a wide range of disciplines with focus on marketing, human resource management, organisational behaviour, and strategic management among others. Apart from these, mathematics, psychology, sociology, philosophy and economics are taught in the classrooms to the graduate students. These courses expect students to understand and manage the literally all operational aspects of the organisation. Management studies enhance the managerial skills by sharing of ideas, healthy discussions and project works, say experts.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari, who is also the President of Nepalese Academy of Management, said MBA course is designed to understand the changing perspectives in the business. MBA graduates are expected to understand new definitions and programmes, think strategically, make decisions and have a practical approach to any problem. The aspects make them expert managers and business leaders.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Number of Management Colleges</span></div>
<table border="2" cellpadding="0" cellspacing="0" style="width: 401px; height: 246px;">
	<tbody>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Courses</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Tribhuvan University</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">BBS</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">533</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">BBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">18</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">35</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">23</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">4</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">MBS</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">45 in operation out of 90</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">MBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">6</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">12</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">EMBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">3</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
		</tr>
	</tbody>
</table>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari shared, â€œGeneral Motors of USA has devised three â€˜Tsâ€™ concept for its human resources - technology, talent and transformation. We need MBA graduates for such transformations.â€ He adds that MBA course in Nepal is devised to produce capable leaders who can understand and cope up with new advancements and plan, organise and execute accordingly. â€œMBA is not introduced only for the sake of MBA. It was introduced to support the emerging economy by developing such human resources that can meet the requirements either through a job or entrepreneurship,â€ he said talking about TUâ€™s management programmes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Scholars accept that the masterâ€™s level curricula on management of Nepali universities are that of the international standards. However, they often question about the way it is delivered to students. Dr Bijay KC said, â€œThe system we follow is more or less the same as in foreign universities. Many universities have accepted the credits our students have achieved primarily due to the courses we teach. Semester system, alphabetical grading evaluation, standard text books used here are similar to western system. In some cases, students may have to take some test/examination which, I think, is normal practice everywhere for any&nbsp; foreign student.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Professors think that the main gap is in the teaching-learning methods. KC explains, universities have the same curricula that cover human resource, finance, marketing, organisational behavior, economics, quantitative techniques, strategy, environment and management information system with more or less similar contents.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari and KC share the similar view that most important is the treatment of the course and its delivery in the classroom, the quality of faculty, the pedagogy used and practical exposure that the students gain during the course.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Teaching-Learning Methodology</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The classes of TU MBS are mostly based on the lecture method. However, the colleges under other universities have adopted more practical and participatory methodology to teach in MBA level. These days, traditional teaching-learning method based on lecture is deemed obsolete for any discipline. For management studies, active participation of students in group work and more practical approach, along with observatory methods are considered appropriate. In an MBA class, teacher and students challenge statements, attack and defend ideas. Inclusion of other approaches plays an important role in the learning process.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari says the central department of management is forced to adopt the traditional method of lecture as they have a huge number of students â€“ around 200 in a single class. He says this simply makes impossible to adopt the other style such as group discussions, presentations, case studies, etc.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Peters of CGCIM opines, â€œPurely academic approach will not work. The MBA course must take an approach of looking at company case study and the actual issues in that company and how they address those issues. Theories may come later. Theory is something managers already know from their experience but they donâ€™t realise that they know.â€ Dhakal from the same institute argues that for a class to be participatory and active, students too must have some kind of exposure and experience. â€œBut Nepali students are straight out of the undergraduate colleges, so the teaching methodology is confined to theories alone,â€ he said. Internationally, students can enrol into MBA course only after practical experience of a couple of years as a manager.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">An appropriately designed MBA curriculum demands for more participation, personality development and attitude development. So, the classroom must be synchronised accordingly. After graduation, students enter the job market. So, the colleges must be producing graduates who can face the real working environment. Adhikari believes, â€œTeaching-learning methodology plays a pivotal role in bridging the gap between classroom and workplace. Such environment in the class must be ensured so that they can adapt to the work environment the very next day.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Some of the business schools have tried to revolutionise the classrooms. They have introduced the concept of dual faculty in a class. Along with an academician, a professional contributor takes a class. Academician deals with the theory while the professional contributor shares his supportive working and real-life experiences. Such professional may be a Chief Executive Officer or Human Resource Manager of a bank or a corporate house.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Most graduate schools of management implement project works, participatory techniques, encourage team work, case studies and field visits and some invite visiting faculties from foreign universities. Similarly, games, participatory techniques and decision making opportunities are frequently practised in graduate schools.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">International Recognition</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The validity of degrees from Nepali universities is often questioned in foreign universities, mostly in the US and Europe. The courses adopted here, teaching method, curriculum, assessment criteria are mostly blamed for the failure of giving equal recognition to our degrees. Nepali masterâ€™s degree holders from any university mandatorily have to take up some kind of foundation course or additional credit hours in those foreign universities for them to get recognised as MBAs for employment and further degrees. Moreover, the competency of our colleges and students with the international counterparts can also be often questionable.&nbsp;Experts believe our universities and management institutes cannot be compared to the quality being offered by some universities and institutes in India and the US. However, we have been successful to devise the curriculum that is at par with the international quality for MBA as well as BBA.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In case of MBA, a student requires to meet certain requirements in USA to get enrolled. Unlike here, a student must have two years of work experience and must appear in the GMAT test before admission. Adhikari points these as some of the reasons why our degrees are not directly recognised internationally. However he claimed, â€œAlthough there is no direct recognition, our education is not derecognised anywhere in the world. After meeting some of their criteria like additional courses and credit hours, our degrees are largely recognised.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">One of the reasons Nepali young generation prefers foreign or international degrees to pursue MBA is the issue of recognition of our degrees.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Foreign Affiliation</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A number of Nepali institutes and colleges have now presented an option to acquire foreign degrees while being within the country. However, most of these colleges are centred in the capital city Kathmandu only. It is not only the Nepali colleges that are willing to bring in foreign affiliations, but also foreign universities are interested to have Nepali affiliates. The reason is the attraction of Nepali students for international degrees and thus the potential market for those colleges.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">CGCIM is the latest institute to offer post-graduate diploma affiliated to Centre for Development Management Studies (CEDEMAS), UK. Dhakal of CGCIM says that the institute was established with the idea to provide teaching in Nepal by foreigner professors. He said, â€œThis is the concept of providing a world-class degree from Nepal. Instead of students going abroad, professors come here to teach and the cost is relatively very small for the students.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Similarly, colleges like KFA, Institute of Banking &amp; Management Studies, Lord Buddha Education Foundation and some other are affiliated with Indian universities. Kingâ€™s College, Presidential Business School, Nova International College are affiliated to International American University, USA.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, the quality of the affiliated university is also questioned by professionals in management and business studies. KC of KUSOM said, â€œUniversities that Nepali colleges are affiliated to are not much heard-of. Such co-operations will not contribute much to the development of management studies. It will be really praiseworthy if colleges can bring in affiliations from top universities like Harvard, Oxford or any other well-known universities or even Indian Institute of Management.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Although the trend of getting affiliation with foreign university is increasing, the government universities are not feeling any threat. Adhikari of TU said, â€œNepali universities are in the forefront on the basis of competition and curriculum. We have much better course design that is customised with Nepali culture, system, economy, situation, need and expectation of the market.â€ Most of the foreign affiliations are based on the distance learning mode.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Sponsorship</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Funding students for business and management studies in Nepali college is not much practised by corporate houses. However, some corporate houses have financed a few students in some leading colleges. Apart from that there is also a trend to send the employees of the corporates to Indian colleges and institutes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Professors do not think that corporate houses are sending students abroad due to the crisis of trust on Nepali colleges. They believe it must be because of some extraordinary qualities that they cannot find in Nepali colleges but see in foreign ones.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However Adhikari says, â€œCorporate houses are not investing in HR for academic programmes. I have not found a single student sponsored by corporate houses.â€ Even in EMBA, which is meant for working managers, students are studying under self-financing. According to Adhikari, in other countries, EMBA students are compulsorily sponsored by employing organisations.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">EMBA</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">EMBA is the course designed for working professionals who want to improve their leadership and management skills. It is relatively a new course introduced in Nepal. This programme is said to help managers learn, grow, and change in their career while working. It is the only post-experience management degree as the MBA here does not need any prior work experience.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">EMBA is a two years course based on semester or trimester system. The course aims to enrich both theoretical and practical knowledge. The course requires being changed and updated to keep up with pace of the evolution in the market. Students of EMBA believe it helps to tackle the challenges they face in managerial profession that keep on arising at work. The course content of EMBA is quite similar to that of MBA with more priority on the practical aspects. EMBA colleges adopt case study, participative method, group discussions, presentations, field visits, project works as their common methods of teaching-learning, supported by lectures.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Three universities â€“ KU, Purbanchal and Pokhara University â€“ are offering EMBA courses. KU has it in its own campus â€“ KUSOM while Pokhara is offering it in its central campus as well as affiliated colleges and PU is providing it through its affiliates. Assessment criteria applied in these universities is a mixed bag of practical and theoretical written exams. Moreover, most colleges have implemented the overall performance evaluation for the grading system that is usually alphabetical.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Career Prospects and Recruitments</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management and business graduates opt for career in the financial sector which is at present the major job market in Nepalâ€™s formal sector. Students do not much prioritise other sectors than the financial institutions as their career area. Only a few students take the path of self-employment and job-creation through entrepreneurship.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Joint venture companies are also becoming the target areas of MBA graduates for jobs. Meanwhile it is expected that the service sector, which is growing fast, will certainly attract management graduates. KUSOM has its own employment cell to coordinate job placements. Ace Institute of Management too has similar kind of on-campus and off-campus placement mechanism. Dr Subas KC said that students used to be hired by well-known corporate houses in bulk when KUSOM was the only college to offer MBA. However, bulk hiring is not much practised now, companies still reach the college searching for suitable MBAs. Apart from students searching for jobs, companies too come searching for their probable employees.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Although it is not so difficult to secure a job after MBA, the facilities, working environment and remuneration are quite low compared to their qualification. Dr Geeta Pradhan accepts that management graduates are not getting the pay in Nepal that they deserve.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In our market, performance-based pay is less in practice. The flat industrial pay scale is common. Although pay is determined by several factors like economy, industrialisation, market, countryâ€™s status, personâ€™s productivity and efficiency, it is believed that most appropriate pay system is performance-based, that is what exactly is missing here in Nepal.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The Future</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Nepal being a growing economy, it is certain that the need for professional managers will grow in almost every sector. With the creation of job and growth of market, management graduates will be demanded by both private and public sectors. There are sectors like hydropower might just gradually open up as attractive jobs for new graduates The job market that is confined to the banking sector is certain to expand with more joint ventures coming, growth of service sector, more industries and growth of market.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That will lead to more demand for management graduates and management schools that produce top-notch managers. The collegesâ€™ changing trend shows that they will be able to manage to cater to the demands of the market and time. For that, the teaching-learning method has to change for the better. Similarly, the research practice that is missing among the professors must be developed. Rather than studying just what is happening in the outside world, management schools must be capable to address the evolving Nepali market realities. Without researches by the universities and professors that is almost impossible to do.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Moreover, MBA colleges are blamed for utter commercialisation. To revolutionise the management studies, they require to rise above the worries of profit and loss and dedicate themselves to bring in professional management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Experts opine that the concept of business school in true sense of the term is yet to come to Nepal. Business schools are more autonomous with definite vision, mission, and goals and operate accordingly. Adhikari says that such schools have distinct identity and existence. â€œTU is planning to develop the concept of business school. The only question is the extent of autonomy.â€ He thinks that MBA colleges are coming just for the sake of money without caring to meet their social responsibilities. The courses and academic studies must address the current needs of the country. â€œBusiness schools just with the aim to get students for the sake of business will not sustain in the future. They must take ahead business education with national and international perspectives in mind and by charting out clear vision, mission and leadership,â€&nbsp; he suggests.</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;"><br />
	</span></h3>
<h3 style="color: blue;">
	<span style="font-size: 14px;">* Alumni Speak *</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Sujan Raja Shrestha received an MBA degree from Kathmandu University School of Management (KUSOM) in 2000. Currently a Management Consultant with Smart Food &amp; Snacks Pvt Ltd, he also manages his own business ventures â€“ Sovereign Education Network and Barahi Eco Farming Company.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Having started his professional career as an employee in various companies, he has come full circle in his decade-long professional journey. He says, â€œI have learned much and had the opportunity to implement management skills over the years.â€ Shrestha takes pride in having reached the companies he worked with (Himalayan Snacks, Smart Food etc), to new heights. He emphasises that a corporate entityâ€™s success is the result of team work to a large extent. And almost in the same breath, he doesnâ€™t forget to remind, â€œTo manage and mobilise a team well enough to obtain maximum output, we require excellent management skills.â€ He adds that these skills can be learnt and it certainly helps having a management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Shrestha believes that one must not pursue management education, particularly an MBA degree, only to find better employment or to get a promotion. â€œThe knowledge a student gathers while studying management builds his/her analytical skills better than ever before and pays dividends over a long period of time,â€ he explains. He opines that a competent management education helps students make more informed decisions with a greater probability of success.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A firm believer of blending theory and practice in management education, he expresses confidence that having successfully completed their MBA programme, the students can choose any business or profession they have their heart for and want to excel at. Shrestha hopes that most management graduates will ultimately turn employers rather than remaining employees for life. â€œI look forward to the current crop of MBAs to turn entrepreneur after getting a few years experience so that they can create jobs for others and become more productive and constructive,â€ he concludes on an &nbsp;optimistic note.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Subodh Sharma Sigdel completed his MBA (Finance) from Nepal Commerce Campus, Tribhuvan University in 2000. He also attained an additional degree with an MSc in International Banking and Finance (IBF) from University of Greenwich, London in 2010. He is currently the Chief Executive Officer of CDS and Clearing Limited.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Sigdel was in the early phase of his banking career when he completed his MBA in 2000. The qualification helped him become a good leader and taught him skills related to conflict management, team motivation, plans and programmes preparation, effective communication and overall managerial acumen. After working in the banking and financial sector for more than nine years, he realised the need to get another degree that specialised in his working arena. Hence, he opted to obtain a degree in International Banking and Finance from the University of Greenwich in London. â€œThis degree has given me an excellent opportunity towards shaping my career,â€ he observes. Meanwhile, Sigdel also ran a trading institute where he trained commodity and stock investors about investing money in the market. He has been recently appointed the CEO of the first ever CDS company of Nepal, CDS and Clearing Limited which is an integral part of the capital market. â€œStudying subjects like International Capital Market and Financial Trading Techniques immensely helped me in bagging this coveted position. Besides, the IBF degree helped me with my policy making role and supervisory activities,â€ he reiterates. He credits his MBA (Finance) degree for building his career while being grateful to the MSc (IBF) qualification for shaping his career in a better direction.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">â€œManagement education has become extremely important for students aspiring for a career in management,â€ Sigdel asserts. He suggests that students should pursue a management degree because the market holds enormous opportunities for trained professionals. He adds that management career, today, is not limited to the banking and financial sector only. â€œCareer choices for management graduates are widening these days with new companies like Central Depository System, Commodity Exchanges, Credit Rating Agency, Mutual Funds and the concept of working as Commodity and Stock Trading Members have emerged in our economy,â€ he points out. Since these companies demand huge workforce, Sigdel advises students to attain relevant management education and fashion successful managerial careers for themselves.</span></div>',
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			'description' => 'During past one decade or so, one of the areas that witnessed a exponential growth in Nepal is the Management Education. Along with the growing demand of duly.......',
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		'Article' => array(
			'id' => '472',
			'article_category_id' => '40',
			'title' => ''We Are Compelled ToStudy Foreign Cases' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;"><b>Prof Dr Geeta Pradhan</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dean, Faculty of Management Studies</span><span style="font-size: 14px;"><img align="right" alt="" border="1" height="215" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/geeta pradhan(1).jpg" style="width: 166px; height: 215px;" vspace="10" width="166" /></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Pokhara University</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What are the emerging trends in management studies?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">New courses have been introduced in Nepal like EMBA. In MBA too, we have MBA in Finance, MBA in Global Business and we have planned for MBA in HR (Human Resource) Management and MBA in Management Information System. These courses produce expertise that is required for any corporate house or enterprise. Other course that I want to introduce is a Masters programme in Public Policy. I think the current education does not well equip those going for government and civil services.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">There is a remarkable growth in management colleges and students in Nepal. When I joined Pokhara University, there were very few students. In 2008, there was just one student in MBA. In Pokhara, there was a belief that MBA will not succeed. With the help of some officials from the university, I visited banks, institutes, chambers of commerce for searching students. They all assured to cooperate. Then, we received applications from 80 candidates while we had only 50 seats. At that time in BBA, the dropout rate was high. Admission was announced thrice for one BBA session. The growth of banking sector has also created demand for capable managers. Management studies with practical approach of teaching like internships, project works have helped graduates to contribute competitively in the organisations. Hence, there is growth in attraction to these courses and management schools.This course produces capable human resource and managers who are required in every field â€“ hospitals to corporate houses. Emerging financial institutions and corporate houses have also increased the demand for management graduates.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Some corporate houses are sending students to study in foreign colleges. Does that mean they donâ€™t trust our colleges and curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is not that our education is bad but we have not achieved their level, which we can achieve easily. I blame our attitude to ignore rules, regulations and the system. Despite having excellent course design, students are not able to perform well. If they can work accordingly, they will be capable, honest and manage their time efficiently.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Most MBA graduates seem to be targeting a job in banks. Are the MBA courses designed for that only? Do you see any&nbsp; misconception in students?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That is a misconception. The MBA is for producing capable managers and entrepreneurs. Our society does not respect all kinds of works. Table work is always considered the best job but running a farm is taken in a different way. Bank jobs have become a symbol of prestige now. Very few students think of setting up their own businesses. I encourage students to find out ways to use hot natural springs around Pokhara and prepare proposals but I think students do not have positive attitude for such creative works.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Case study is what foreign universities opt for teaching. It is said that we donâ€™t have much cases within our country to study. Are we forced to study only the foreign cases?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In case studies, frankly speaking, the trend of case writing is missing in Nepal. In my university too, we employ the case study method, which is a foreign concept. Good cases from Nepal are not being written. There are some professors who write them but still good cases are missing. We often encourage writing them but professors for some reasons are not willing to write them. I think they feel lazy. I feel we donâ€™t have a tendency to be competent and do something different. So, we are bound to study foreign cases though we have enough cases and examples in our own surroundings.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How suitable is our curriculum for the typical business environment of Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The curriculum suits the typical business environment of Nepal. However, the dialogue between academia and business is missing. Business is heading in one direction while business schools are in another.&nbsp;I often tell business houses to exchange resources but I donâ€™t know why it is not been possible to find a working chord.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Curriculum and teaching-learning methodology of Nepali colleges and universities are&nbsp;said to be traditional. What is your university doing to update your curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is true that we have traditional method of teaching and learning. For bringing some changes, students must have exposure and the teachers too need to have some inputs. They teach only what they have studied. That makes it quite difficult. When visiting faculties are selected I prefer MBA graduates from America. They have exposure to different methodologies and it is definitely different than teachers who got education here. We are revising the curriculum even of BBA and that has been approved by the subject committee. We have also included the course of business ethics. We continuously go on revising the curriculum.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How does the course bridge the gap between real life work place and the lessons taught in business schools?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">If there were more teachers who studied in foreign universities or from abroad, bridging the gap between classroom and the real world would have been much easier. There are many constraints. When we ask students to go for some field visits they ask the university to bear the cost. That is a hindrance. To some extent, students also need to bear these expenses when it is useful for their studies and career. I think many do not understand the concept of university. In university, students are required to manage some expenses for themselves. What they do and what they learn in classroom is reflected in the real working environment.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Nepali universities are said to have weak management and the basics like exams and results are not conducted on time. What is the main problem?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The management is not a total failure but it is also true that it is quite weak. The management is unable to enforce the rule upon students and their unrealistic demands are not suppressed. In some cases, colleges themselves are involved in encouraging students for demonstrations to change the date of scheduled exams. They reason, the course is incomplete. I think infiltration of political elements in colleges is guiding it. But we have tried to bring the session back on track by cancelling vacations. The situation is gradually improving because we are also taking firm decisions. I think one of the reasons behind such practice is, most of the time students are enrolled without proper selection due to various reasons.</span></div>',
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			'description' => 'New courses have been introduced in Nepal like EMBA. In MBA too, we have MBA in Finance, MBA in Global Business and we have planned for MBA in HR....',
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	(int) 13 => array(
		'Article' => array(
			'id' => '471',
			'article_category_id' => '40',
			'title' => ''MBA Has Become Competitive Now' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="" border="2" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/dev raj adhikari.jpg" style="width: 190px; height: 245px;" vspace="10" /></span><span style="font-size: 14px;"><b>Prof Dr Dev Raj Adhikari</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Head, Central Department of Management</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Tribhuvan University</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The growth you are talking about is the growth of management education. Four universities namely Kathmandu, Pokhara, Purbanchal and Tribhuvan University (TU) - the oldest one in the country - are contributing to the growth of management studies. Along with the growth in number of students and faculty, there is also the growth in demand for the products in the market. Market is also growing. Currently, we can see quantitative growth but there is impressive qualitative growth too. Recently, a report of Ministry of Education has revealed that the number of students going for foreign education has dropped. Management education has grown both qualitatively and quantitatively.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What are the emerging trends in management studies?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We are talking about globalisation today. That automatically reflects in our curriculum. Our curriculum cannot always be taught in the same old traditional methods because our students have to compete in the international market. The demand is growing for&nbsp;change and advancement in the management studiesâ€™ curriculum. The teaching-learning model also needs to be reformed. Some schools have adopted really good methodology but in our MBS, we have not been able to achieve the global standards due to a large number of students.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">The teaching-learning methodology is often criticised for being traditional. How have the management schools tried to change the traditional practices?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Some of the institutes are practising methods like project works, case studies and participatory techniques in classrooms. They are encouraging team work and group work. Students are often taken for industrial tours and field visits. Professionals and entrepreneurs are giving lectures while visiting faculties are being sourced from foreign universities. These are now being practised in Nepali colleges. They are trying their best because they are getting money and need to satisfy the parents and students. I have seen bank CEOs addressing the classes. Some institutes even have the system of dual faculties in which one is academician while the other may be a professional. Academician teaches theory while the professional shares his real work-life experiences. He may be the HR director of a certain bank or even a CEO. Now, MBA has become competitive. Market will judge in the future if one can or cannot deliver. Teaching-learning method is not that much traditional as in the past. In MBS, traditional method is also being used. The most popular method in the world is the lecture method. When the classroom is small and focus is on a particular group, we can go for case studies, game theories, project works, participatory techniques, create decision making opportunities. But in a large class, the same is not possible. It is being traditional because we donâ€™t have environment to use new tools and pedagogy. Some classes are traditionally run but the cases have changed a lot compared to the past. In the coming ten years, there will be a lot of changes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is our competency compared to the level of regional and international universities?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is very difficult to say what exactly is our competency compared to other universities, especially those in India. Currently, in the growth of Indian management education, quality is especially seen in state universities and management institutes like IIM, Ahmedabad. We have not reached that level of quality in education. Here, Pokhara, Kathmandu and Purbanchal universities are leading in MBA. They have changed with time and have created the course well with a lot of planning but so far the implementation is missing. We are lagging behind in regional and international perspectives. But the TU MBS can be easily compared to Indian quality. Curriculum is good and our MBS course can be compared with good universities in India. So, what we can safely say in MBA we still have to do a lot of things because growth in business here does not have the same pace as in India. Our internship level can by no means be compared with theirs. We have also not been able to provide facilities and educational environment that Indian MBA students get. In such a case, we canâ€™t compare with them. Nevertheless, we are trying our best; our universities are trying for something similar.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Are our colleges, courses and degrees internationally recognised?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">TU is recognised worldwide as the largest university of Nepal. Any masterâ€™s degree holder from TU need to do further studies if he wants to pursue further studies in the US. MBS graduates again need to do MBA there. In USA, to do an MBA, one must compulsorily have two years of work experience but it does not apply here. And they must also appear in GMAT. Here one can directly join MBA after bachelorâ€™s degree. So, there is no direct recognition but our education is not derecognised anywhere in the world. Though they donâ€™t give exact equivalence, after completing some credit hours and some courses, our degrees are recognised well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is our curriculum targeted at â€“ producing job seekers or job creators?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We should try to develop professional entrepreneurship as well. It is engraved in our culture that after completion of studies, everyone must do some kind of job. Everyone expects to get a good job. But there are some students who really want to develop as a professional or an entrepreneur. Some of my own students are aiming to create jobs through their entrepreneurship. More than 95 per cent students are job seekers either in national, Indian or international markets. But only a few are willing to develop as a professional or an entrepreneur. Some MBA students have even established their own cooperatives and finance companies.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How does the management course bridge the gap between real life workplace and the lessons taught in classrooms?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We need good teaching-learning method to bridge the gap between classroom and the workplace. The environment in the class must be such as the students can begin working immediately after completing the education and can adapt to the work environment. Similar kind of pedagogy, customisation and workplace-friendly curriculum must be selected. Then, we need the curriculum in accordance to the business expectation. That will bridge the gap between the classroom and the workplace otherwise there will be a difference always. If we can not bridge this gap, organisations will have to invest a lot in training and development of the new recruits from the management stream. So, these days, management colleges are focussing on training for a banking career to MBAs as the banking and finance sector is our major job market. If the gap is to be bridged, we have to make the classroom workplace friendly and design the curriculum accordingly. We have that curriculum but if we also have the similar delivery we can minimise the gap.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How do you see the current trend of colleges being affiliated to foreign universities?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">If you look at it through competition and curriculum, our local universities are in forefront. If you compare the foreign university curriculum with Nepali counterparts, we have a much better curriculum. Nepali universities are already customised with local environment while Indian university cannot be customised. You have to run according to their curriculum. Our curriculum is customised according to our culture, system, economy, situation, need and expectation. That way our curriculum is excellent and those courses have not proven any threat to us. But that does not mean it is time to stay idle. The way foreign universities are coming, they have changed the teaching-learning method. Concept of dual faculty has been introduced in Indian university affiliated colleges. It is a challenging system. That will challenge us in the future. British, American and Indian universities are willing and are coming to Nepal. However, they are mostly offering distance education, so far. Till date, we have a strong curriculum and we are not facing any threat from universities.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Most of the leadership positions in the private sector banks and corporate houses are being held by MBA graduates from foreign universities. How do you react to this?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Companies must have found some difference in these foreign graduates. They must have certain unique personality and knowledge. But that knowledge, skill, efficiency will be transferred gradually to ours too. This will not be the same forever. In the days to come, Nepali MBA graduates can also do that. It is only a matter of time. It may take a few years or a few decades. India has a long history in management studies and MBA while we have just begun teaching MBA. Such things are not negative. We can learn from them and analyse what we lack and what special they have got. Students must self actualise and they can develop themselves accordingly.</span></div>',
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			'description' => 'The growth you are talking about is the growth of management education. Four universities namely Kathmandu, Pokhara, Purbanchal and Tribhuvan University (TU).....',
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			'id' => '470',
			'article_category_id' => '40',
			'title' => ''Corporate EntitiesKnow The Importanceof Having MBAs' (September 2011)',
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			'content' => '<p>
	<span style="font-size: 14px;"><img align="right" alt="" border="0" height="192" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/dr bijay kc.jpg" style="width: 159px; height: 192px;" vspace="10" width="159" /></span></p>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><b>Dr Bijay KC</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Faculty Prof and Dean</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">South Asian Institute of Management (SAIM)</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal? How do you think itâ€™s going to shape up in the foreseeable future?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">I have been quite satisfied with the way things are. A good number of management schools have come up in recent years because there is a huge demand for management graduates in the job market. However, I must admit that we must adapt ourselves to the fast changing scenario of business education. The schools should also become receptive to the needs of the business enterprises because ultimately itâ€™s they who are going to provide employment to the students graduating from these schools. I also feel that the government should take an initiative to come up with a new university that will specialise in management studies. At the same time, such a university should permit only such schools and colleges that have proven themselves in the field of management education. Another important aspect is that the faculty of business schools must have a say in matters related to examinations and quality control because they best understand the needs of the students.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Is the Nepali business schoolsâ€™ curriculum well prepared to meet the demands created by globalisation? What is SAIMâ€™s curriculum targeted at â€“ producing job seekers or job creators?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We, at SAIM, offer a programme called MBA Global Business in affiliation with Pokhara University which, fundamentally, exposes our students to global management practices. We do have some courses on entrepreneurship which are targeted at developing job creators of the future but a majority of the students prefer to join different sectors as professionals. As for a job creator, an entrepreneur must also have some knowledge on marketing, finance and resource etc. But I do realise that to make our programme more entrepreneurship-oriented, we need to have more courses included in the curriculum by our parent university.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Could you tell us about the teaching methodology at SAIM? Are the students forced to study foreign cases primarily because there is a dearth of home-grown cases?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Yes, we mostly use foreign case studies and I see no harm in using those. These cases are actually very good and a management educationâ€™s basic purpose is to develop the skills of the students. We do have a few good home-grown cases which we use. You must understand here that good case studies are hard to come by and writing them is not an easy job.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Some corporate houses are sponsoring their fresh employees to study in foreign colleges. Do you think there is a lack of trust, on their part, in the quality of our colleges and curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">I think more than anything else it is to make their employees gain further knowledge and equip them better. If they didnâ€™t have faith in the quality of education we offer, they wouldnâ€™t hire them in the first place. My feeling is that management education is a lifelong asset for the students. Getting an MBA degree does not mean that the students know everything about management. My recommendation to the corporate houses is that after three-four years of work experience, they should look at sending these students for further studies abroad.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">A lot of students are going abroad to pursue management degrees? Why are the local colleges not able to retain them here?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The fact of the matter is that, now-a-days, a lot of Nepali students want to pursue management degrees. Itâ€™s a classic case of demand overwhelming supply as the number of seats available in Nepalâ€™s business schools is not adequate to accommodate all these management degree aspirants. We understand that there is a need for more business schools and more seats. At the same time, we cannot afford to compromise on quality. Among the many business schools operating in Nepal, there are only about four or five of them providing quality education. This limited number of colleges can accommodate around 200 students at best. Itâ€™s but obvious that a lot of students not finding a seat in these colleges will look to go abroad. Besides, some good students may get admission to world renowned business schools like IIM or Harvard, for example. In such cases, we cannot be unfair and ask them to stay back in the country for our own selfish reasons.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How suitable is your curriculum for the typical business environment of Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The basic concept of management education is the same around the world. For example, a course on inventory management is same whether in the US or here in Nepal. A lot of cases provide a wider perspective of problems therefore; we look at applying them in the context of Nepal. In some cases, we have to resort to modification to suit the business needs locally.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Why do you think there is tremendous attraction to business studies these days?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is because of the job opportunities available to management graduates in recent times. In the last decade-and-a-half or so, corporate entities have realised the importance of having them in their ranks. It has become relatively easier for MBA graduates to start professional careers based on their education. Besides, these graduates have performed and proved themselves at their respective workplaces which have compelled companies to hire suitably qualified management graduates. So, job opportunities coupled with career enhancement prospects have been instrumental in attracting scores of students towards business studies of late.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Do you think MBA graduates from Nepali business schools are paid lower than they deserve?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As far as remuneration is concerned, it basically differs from company to company. From the companiesâ€™ perspective, if they want to have bright students working for them, they must be prepared to pay handsomely to attract them. What also matters is an individualâ€™s ability, he/she must be prepared to perform and prove his/her worthiness to command better remuneration. Having an MBA does not automatically guarantee an excellent pay. I am sure even if some students may begin their careers by agreeing to work for a package that is less than their expectation levels, they can always prove themselves first and then demand a better pay package.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Tell us the way you go about campus recruitment at SAIM.</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">At the end of the two-year programme, we prepare profiles highlighting academic background and credentials of all students that are passing out and distribute the profiles among the interested companies. A lot of these companies evince interest in particular individuals so we act as a link between the two. Itâ€™s both established companies as well as upcoming ventures that hire our graduates.</span></div>',
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			'title' => 'UFO: Pay Less Expect More October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;">One of the vehicles imported and marketed in Nepal by Constant Business Group is UFO. It is an SUV manufactured by Chinese automobile company Jonway. Though the vehicle is made in China, it makes use of Mitsubishi engine and gearbox. The company has targeted the vehicle to those who want to switch from a sedan or a hatchback to a SUV. According to the company, UFO is very affordable and gives more value for money.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The 2011 model looks modern and stylish that is sure to get attention with its unique and fashionable outlook and its price-performance ratio. The crystal headlights look brilliant and have very powerful illumination that greatly improves driving safety at night. The beautifully designed LED taillights also correspond to the headlights. The integrated design makes the body look more stylish.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The inside of the vehicle is very roomy, a wide cabin that allows freedom. The five-seater vehicle has manually adjustable seats for extra comfort and also has ample storage area. There are features like power mirrors, keyless entry system, reverse sensor and power windows. The vehicle is also equipped with dual airbags, a powerful air-conditioner, front and rear fog lamps, power steering and steering audio controls.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The latest Mitsubishi engine has excellent power performance and provides stable and smooth acceleration. The 1.6 liter 4G18S engine produces a maximum power of 74.2 KW at 6000 rpm and a maximum torque of 134 Nm at 4500 rpm. The vehicle can attain a maximum speed of 150 km per hour. The vehicle has a 5-speed manual transmission that provides quick and smooth shifting while maintaining the stability at the same time.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">UFO is equipped with disc brakes on all four wheels that can resist higher temperature and have more reliable stopping power so that the vehicle functions safely. The body of the car is designed is such a way that it can effectively absorb energy of a collision and disperse it throughout the frame to every part of the body. This prevents the deformation of the cabin at the event of collision and protects the driver and passengers.&nbsp;ABS is also incorporated in the vehicle to add to the safety.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The company claims that the vehicle gives a mileage of 12-14 km/l in the city and 16 to 18 km/l on the highways. The company has already sold 96 units of UFO. UFO, with all these features can be yours at a very affordable price of Rs 2,825,000. The company is giving out a warranty of 2 years or 35,000 kms, whichever is earlier.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>',
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		'Article' => array(
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			'title' => 'Business Of B-Schools October 2011',
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			'content' => '<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><img align="left" alt="Business - B" border="1" height="346" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/feed.jpg" style="width: 256px; height: 346px;margin:10px;padding:10px;" vspace="10" width="256" />It is good news that management education is flourishing in Nepal. In last one and a half decades, after Kathmandu University launched its MBA, a lot of management colleges have started offering management degrees. A lot of them have been successful in their mission and produced quality human resources. However, prominent positions in Nepali corporate houses are dominated by foreign university graduates. This somewhere underlines that our graduates are not as good as those coming from foreign colleges or at least the employers have this perception.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">The teaching-learning methodology and the educational environment in Nepal are much criticised by the teachers of management colleges. They are the ones who are responsible to improvise new methodologies to meet the kind of current demand and need. It will be better if they can implement the best practices of foreign universities. However, the trend is gradually shifting lately in new management colleges. In most colleges, though they claim modern methodology is being used, the teaching is limited to lectures only. The quality of teachers can be questioned after their failure to revolutionise the classroom. On the other hand, students are not much prepared for modern day classroom activities. They have been passive learners since their schools days and most of them do not have any work experience as they are straight out of the undergraduate colleges.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Teachers are treating teaching merely as a job, forgetting their professional ethics and responsibilities. They reach almost half a dozen colleges every morning to teach. They completely lack self-study and research practices. Though professors are expected to engage in research activities, only a handful of them are pondering over research and innovations. In some cases, teachers are unable to answer the queries raised by students.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">So, only the course material will not do miracles until delivery of it is revolutionised. For that, teachers will have to be competent and business schools should rise above their profit motive and realise the responsibility to improve the quality of education. Business schools should not be established only for business but also to meet the demand of the evolutionary business environment.<br />
	<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Rohit Shrestha</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>New Baneshwor, Kathmandu</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<hr />
<h3 style="color: blue;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Telephone Boom</span></span></h3>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Lately, Nepal's telecommunication market has grown tremendously. Almost 50 per cent of the population now have access to telecommunication services though largely dominated by GSM mobile telephone. Now rural areas are being slowly covered by the network of either NTC or Ncell or rural telecom operators.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Constantly declining cost of services and communication devices has attracted a lot of new consumers. Compared to the mobile telephone service, Internet has still not reached a substantial number of people. Users of Internet are largely concentrated on urban centres. However, the services like 3G and GPRS/EDGE has gathered huge number of mobile Internet users. With the advent of smartphones, trend of using Internet on mobile is growing both nationally and internationally.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Still, a large chunk of population i.e. around 50 per cent population does not directly have access to such services. But this population includes children and those who use telecommunication indirectly from home telephone or use devices of family members and friends. This is the market segment everyone is trying to tap both network operators and handset makers. If their marketing strategy succeeds, the number of consumers is certain to increase. Looking at the growth trend and usage pattern, it is certain that more Nepali people will have greater access to telecom and Internet services in the future.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Prativa Panthi</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>Pokhara</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<hr />
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<h3 style="color: blue;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Workplace Harassment</span></span></h3>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Workplace harassment - either in psychological or physical form - is reported in all organisations. . Most common harassment is sexual as established by various studies. In many cases the complaint against harassment is resolved within the company while some cases reach the court. In Nepal's case, they rarely reach the courts though there is legal provision for this. Most often, such problems are solved within the organisation and common disciplinary action is firing the accused. Experts say this is not the best action as such provision encourages employees to take advantage of the system. Any workplace harassment must be discouraged at any cost and strong actions must be taken by the organisation as well as such cases should be taken to the courts. Employee's behaviour and preferences must be well understood while dealing with them as someone might feel harassed by similar approach while for others it could be completely normal. Companies must be careful to avoid such harassments at the workplace and should take more care while hiring new employees. Along with the company, employees themselves have to maintain a discipline that makes the working environment safe and healthy.<br />
	<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Purna Bogati</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>Bhaktapur</b></span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-31',
			'keywords' => '',
			'description' => 'It is good news that management education is flourishing in Nepal. In last one and a half decades, after Kathmandu University launched its MBA, a lot of............',
			'sortorder' => '396',
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	(int) 2 => array(
		'Article' => array(
			'id' => '485',
			'article_category_id' => '52',
			'title' => 'The Financial Policing October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The central bank, Nepal Rastra Bank (NRB) has recently indicated that it would tighten the grip on the financial criminals not only by introducing more effective regulation and supervision policies, but also by acting as the enforcer of these policies.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	The NRB has chosen to take up the role of arresting the financial criminals in direct co-work with police.&nbsp;Instead of earlier arrangement of going through the Ministry of Finance (MoF) with a suspect lists and the line ministries passing out buck from MoF to Home Ministry, from Home Ministry to District Administrative offices and then to the District Police, this NRB initiative would surely shorten the process of apprehending the absconded ones. It is reported that the MoF has given consent to NRB to directly deal with the police to initiate the process of arrests. Similarly, NRB is also reportedly formulating a policy to liquidate those financial institutions whose promoters or executives remain absconded for long.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<img align="right" alt="" border="2" height="397" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/edit.jpg" vspace="5" width="350" />In light of the growing incidents of abscondence of the promoters and executives of some development banks and finance companies, the NRB move appears a welcome one.&nbsp;It is also true that in Nepal among all the criminals, the financial ones largely remain scot free by using every possible influence including, may be, money.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	Such NRB activism also seems convincing vis-a-vis the central bank's responsibility of maintaining financial system stability in the country. But the core question here is: will these moves actually contribute the promotion of corporate governance in this sector? And, do these schemes fit in the concept of â€˜slim and smart central bank focused on its core functions?</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	Unquestionably, the criminals must be brought to book and justice delivered. But NRB initiating the legal process on its own will have several other ramifications. First, it must have a stronger and larger legal department. Second, the government dealing directly with the law-enforcing agencies is always more effective. And, third, as the experiences have it, the problem in apprehending the allegeds lies largely in the police functioning. At that crucial point, NRB move may falter. NRB cannot be expected to be able to change the attitude and modus operandi of the police.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Also the very idea of liquidating the entire institution just because a fraudulent person, who happened to be a decision maker, remained at large is not at all justifiable. One of the cardinal responsibilities of the NRB is to protect the depositors interest first, which in turn, facilitates the system stability. If any promoter or executive flees away, the moral responsibility should also be taken by the NRB as well. And, as the regulator, the decision of liquidating the financial institutions must be based on the financial health of the institution and its future viability. Let's not forget that there is a specialised legal mechanism already in place to deal with corporate liquidation/bankruptcy. The clients have made no mistake by doing business with the NRB licensed and supposedly supervised companies and they must not suffer for the fault of somebody else.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	The NRB must understand that it can neither escape from its responsibility of maintaining the financial stability by enhanced regulation and supervision nor should it be turned into a police like organisation.</div>',
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			'created' => '2011-10-11',
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			'description' => 'The central bank, Nepal Rastra Bank (NRB) has recently indicated that it would tighten the grip on the financial criminals not only by introducing more effective..........',
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	(int) 3 => array(
		'Article' => array(
			'id' => '483',
			'article_category_id' => '41',
			'title' => 'A Walk Through Central Depository System',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="sectorial" border="1" height="128" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/homnath gaire.jpg" style="margin:10px;padding:10px;" vspace="5" width="100" />By <strong><u>Homnath Gaire<br />
		<br />
		</u></strong></span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size:12px;">In a nut shell, Central Depository System (CDS) is an electronic book entry system to record and maintain securities and to register their transfer. In CDS, ownership will be changed without physical movements of securities or execution of transfer deeds. The ownership will be transferred as soon as securities move from one account to another. CDS is purely a settlement vehicle and will not affect the trading in any manner whatsoever. It is expected that the CDS will bring tremendous efficiency and growth in the capital market of Nepal. It will also enhance the image of Nepal's capital market globally. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Participants of CDS:Account Holders<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Account holders are divided into two categories - account holders and participants. Both account holders and participants will have direct access to the CDS. Account holders will be allowed to have a main account and a house account for their beneficially owned securities. Participants, however, will be entitled to have client accounting facilities within the CDS. In addition to main account and house account, participants will be allowed to have sub accounts and group client accounts. In short, the participants can provide custody services to their clients whereas account holders can keep only their beneficially owned securities in CDS.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><img align="right" alt="sectoral" border="1" height="350" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(7).jpg" style="margin:10px;padding:10px;" vspace="5" width="252" />"Beneficial Owner" means the person who have opened their Beneficial Owner Account with Central Depository Company for depositing their securities or instruments and who have held the securities and instruments which are capable of being deposited in de-mat form.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">All the members of stock exchanges, banks (both commercial and investment), and development financial institutions (DFIs) are allowed to open their account as participants whereas corporate bodies such as leasing companies, investment companies and insurance companies can open their account as account holders.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Issuers/Registrars<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The issuers of capital whose securities are converted from physical to electronic book entry system play a significant role in CDS. They will also have direct access to the CDS. After a security is declared eligible for the purpose of CDS, necessary software is provided to that particular issuer upon signing the issuer's agreement with central depository company (CDC). The shares are entered into CDS only after proper verification by these issuers or their registrar. This process eliminates the problem of fake/duplicate/lost/stolen share certificates as issuers thoroughly check them before approving for CDS.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Eligible Pledge<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Financial institutions that lend against securities will have their account with CDS in the capacity of eligible pledges. These institutions will also have direct access to CDS and will be provided with necessary connection in this regard upon signing the pledge agreement with CDC. Their clients will be able to pledge their electronic book based securities in CDS. Once the securities are pledged in the CDS, the control over those securities is transferred to the eligible pledgee in the form of pledge release/call. Nevertheless, the beneficial owner will continue to get the benefits of corporate action on pledged securities.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong><img align="left" alt="sectoral" border="1" height="228" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img1(4).jpg" style="margin:10px;padding:10px;" vspace="5" width="350" />CDS Account Structure:<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The account holders of CDC will be able to settle their transactions within the CDS through five types of accounts, namely:<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Main Account:</b> Each account holder in the system will be allocated a main account by virtue of being an account holder in the CDS. This account will mainly be used as a transit account for movement of securities. Any security coming in or moving out of an account holder's family of accounts will pass through this account.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>House Account:</b> Used for securities owned beneficially by account holders. "Beneficial Owner Account" means De-mat Account (electronic account) opened with Central Depository Company through Depository Participant in order to deposit securities by the Beneficial Owner and which is distinguished by a unique account number.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Sub-account (Client Account):</b> This account is used for keeping securities belonging individually to each of the clients of an account holder. An account holder may open and maintain any number of sub-accounts he requires on behalf of his clients.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Group Client Account:</b> This account is used for keeping securities which are beneficially owned by the account holder's client. It will be used for clients who are not willing to utilize the facility of opening separate sub-accounts. The account holder will group all such clients in his/her group account. The detailed break-up of the securities held by each client of a group account will be held by the account holder and no such record will be maintained by CDC. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Cash Account: </b>Each account holder in the system who opts to avail the Delivery vs Payment (DVP) facility will be required to deposit relevant amount to be used for the settlement of DVP obligations.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">CDS-Operation<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b><img align="right" alt="" border="2" height="335" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img2(4).jpg" vspace="5" width="350" />The main operations performed in the CDS are as follows:<br />
	<br />
	</b></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Deposit of existing and new securities in the CDS. Once a security is declared eligible by CDC, the physical certificates of that security will be deposited in the CDS for conversion after which they will be available for further transfers within the system. Following is the procedure to deposit securities in the CDS:</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">To begin with account holder will initiate the deposit request by entering the details of share certificates into the system, and securities deposit form (SDF). CDS will generate computer printouts of the transaction. Transfer deed will be executed in favor of CDC. Account holder will then send the relevant share certificates, transfer deeds, SDF and the computer printouts to the relevant registrar. The registrar after verification will either approve or reject the transaction within five days from the receipt of the documents. Registrar will update CDC nominee share holding in the member's register, cancel share certificates and transfer deeds, and return the relevant documents (other then canceled share certificates and transfer deeds) to applicant account holder.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Withdrawal of securities <br />
	from the CDS:<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The account holder will initiate the withdrawal request by entering the relevant details into the system, and securities withdrawal form (SWF). CDS will generate computer printouts of the transaction. Account holder will then send the SWF and the computer printouts to the relevant registrar.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The registrar after verification of the balance will either approve or reject the transaction within five days from the receipt of the documents and update CDC nominee share holding in the member's register. Registrar will return the relevant documents and share certificates to the applicant.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Prepare share certificate (Jumbo certificate): <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Free Transfer -</b> Book entry transfer of securities without any associated cash movement. This is a unilateral transaction in which an account holder can deliver securities to any other account holder in CDS. Although the beneficial ownership of securities changes as securities move from one account to another, there is no stamp duty involved and the transfer is on the spot.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Pledge/Release/Call -</b> Pledging securities in favor of a lender which can only be released or called by the lender. This function will greatly benefit the financial institutions by reducing risk of fake share certificates and paperwork to a great extent. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Stock Borrowing or Lending through the CDS: <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Corporate Action - </b>In case of bonus issues, rights issues, sub-division, consolidation and any other action that changes the number of securities held in a participant's account or involves the determination of entitlement to beneficial owners, CDC shall provide relevant details of account holders and sub-account holders to the issuer. The CDC will also provide details for the purpose of notice of general meetings and other notices/communications.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Delivery Versus Payment (DVP) - </b>DVP is a bilateral transaction or book entry transfer of ownership of a security in exchange for payment to settle a transaction. The deliverer of the securities will initiate the DVP request on CDS specifying the details of securities and payment.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Upon acceptance of the receiver, CDS will debit deliverer's securities account and credit receiver's securities account. Likewise, CDS will debit receiver's cash account and credit deliverer's cash account. Cash only moves from one account to another without any associated securities movement. </span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-17',
			'keywords' => '',
			'description' => 'In a nut shell, Central Depository System (CDS) is an electronic book entry system to record and maintain securities and to register their transfer. In CDS, ownership......',
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	(int) 4 => array(
		'Article' => array(
			'id' => '480',
			'article_category_id' => '57',
			'title' => 'Brand Nepal In NTY 2011 October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<strong><span style="font-size: 14px;"><img align="left" alt="" border="1" height="182" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sajag karki.jpg" style="width: 141px; height: 182px;margin:10px;padding:10px;" vspace="10" width="141" />By Sajag Karki</span></strong></div>
	<div style="text-align: justify;">
		<span style="font-size: 14px;"><br />
		</span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Naturally Nepal is the tagline used by Nepal Tourism Board (NTB) to promote Nepal Tourism Year 2011 (NTY). It is hard to say whether a mere tagline with hardly any promotional activities can fulfill its ambitious plan of attracting one million foreign tourists to the country this year. Though the year opened with a bang with the campaign's promotion and big commitments made by its stakeholders, all the fizz surrounding the announcement of NTY has come to an end with less than four months remaining of the year. The campaign took off quite well but vanished in thin air. It would have been an excellent branding opportunity for Nepal and positioned it as an ultimate destination for various tourism activities such as adventure, culture, spiritual, religious and wildlife. Sadly, this has not been the case. Instead of tourists flowing to major destinations of Nepal, it seems that neither the tourists nor the tourism sector have benefited significantly by the government's so-called plan to take tourism sector to greater heights by observing NTY 2011.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is quite sad that a campaign initiated by the government falls flat when it comes to implementation. A tourism year is supposed to be full of promotional activities but there has not been a single TV commercial (TVC) created for its advertising which is very surprising. How are potential tourists supposed to know about the various destinations and activities in Nepal? Every country and place has its own specialty such as Egypt has pyramids, Thailand has lovely beaches, Italy has romantic destinations, and so on. Similarly, Nepal specializes in picturesque natural beauty, cultural richness along with ethnic and bio-diversities that can make tourists spellbound alluring them to visit Nepal again and again.&nbsp;&nbsp; </span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="brand" border="1" height="170" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/nty(2).jpg" style="width: 289px; height: 170px;margin:10px;padding:10px;" vspace="10" width="289" />Nepal can learn from other Asian countries like neighboring India, Malaysia, Singapore and Thailand that have focused a lot on country's branding and have offered visitors with various attractive packages. They have communicated their country's story via various promotion channels and have created a niche of their own. Some popular promotions include Malaysia â€œTruly Asiaâ€, Amazing Thailand etc that are being broadcast on major TV channels. India has gone even further with state branding to encourage the tourism flow to their respective states such as Rajasthan, Uttarakhand, Kerala, Gujarat, Orissa etc. Massive promotion budget has been spent with big celebrities such as Amitabh Bachchan being brand ambassador of Gujarat Tourism. Similarly, Nepal needs to narrate an anecdote of its own to let interested ones know about this beautiful country. The rich cultural heritage, the spirit of the Himalayas and the adventure tourism aspect can all be elements of the Nepal's tourism story. Even better would be branding for specific destinations such as Pokhara and Chitwan, positioning each differently to cater to the needs of tourists of all demographics. Pokhara can be promoted as the happening place with natural beauty, adventure sports such as paragliding and salubrious environment to rejuvenate and relax. Similarly, Chitwan can attract tourists for its wildlife resort, elephant safari, camel rides and Tharu ethnical cultural shows.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It can be said that Nepal hasn't exploited its tourism potential and more importantly has not been promoted the right way. Promotion activities can be done targeting each segment of tourists by highlighting the attributes of the various exciting places of Nepal. In addition, NTY could further boost sales as special privileges could be given during this campaign. Further benefits should be given to tourists who wish to visit in the year 2011. Discount of hotel reservations, special packages on airfare and accommodation along with some freebies will no doubt attract numerous visitors. Moverover, the benefit of visiting Nepal this year as compared to other years should be communicated clearly or else it will just be like any other ordinary year. </span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Though some efforts have been made by the private sector, this miniscule yet encouraging act must be backed up by robust government spending as it can, apparently, generate revenue for the nation. The promotion should be done on a government level not only by the private organizations. Despite various political, economical and financial barriers faced by the country, there is still enormous scope for a naturally gifted place like ours to excel in the tourism sector. The opening ceremony of NTY was marked with huge enthusiasm and support from all sectors as even political parties vowed not to organize bandhs as it would have an adverse effect on the tourism campaign. Despite all the bottlenecks, there is still hope to revive the economy through branding of the Nation-Nepal as a visitors paradise. Being a Nepali citizen it is also our responsibility to encourage domestic tourism and spread good word about it to the world. Let's celebrate the spirit of NTY 2011!!!</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;"><br />
	</span></strong></div>
<div>
	<div style="text-align: justify;">
		<strong><span style="font-size: 14px;">(Karki is currently associated with JWT (Thompson Nepal). The article is based on research and author's practical experience as a marketing professional. He can be reached at sajag_karki@hotmail.com)</span></strong></div>
</div>',
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			'created' => '2011-10-11',
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			'keywords' => '',
			'description' => 'Naturally Nepalis the tagline used by Nepal Tourism Board (NTB) to promote Nepal Tourism Year 2011 (NTY). It is hard to say whether a mere tagline with hardly.......',
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			'id' => '479',
			'article_category_id' => '42',
			'title' => 'Waiting For 350(October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<h3 style="color: blue;">
	<span style="color:#800000;"><span style="font-size: 12px;">(Nepal Stock Market Review for 22 Aug â€“ 20 September, 2011)</span></span></h3>
<p>
	<span style="color:#800000;"><br />
	</span></p>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>By Bikram Chitrakar<br />
		<br />
		<br />
		</strong></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">The Nepse Index needs to cross 350 to inspire the investors, shows this analysis. With Nepse Index continuously sliding down, the month striding over August-September period was a month of decline in the Nepali bourse. This was in spite of healthy earnings reports and dividend declaration by the companies. The entry of Maoists as the leader of the government helped in sending the mood in the exchange down because of lack of clarity about the policy of the new government. The benchmark Nepse index plummeted 29.76 points or 9.30 per cent to respite at 320.08 during 22 August-20 September. While the highest points for the period was on 22 August with 349.84 and the lowest was on 19 September with 317.70. <br />
		<br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Investors were unsatisfied with the rate of dividend declared by different financial institutions as the proposed dividend could not meet the expectations of the investors. Dividend proposed by Standard Chartered Bank is 50 per cent (cash) while that of Nabil is 30 per cent (cash) only. Both missed the expectation of the investors.<br />
		<br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" height="265" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock.jpg" style="width: 426px; height: 265px;margin:10px;padding:10px;" vspace="5" width="426" />However, the investors have not lost all the hopes as yet because the process to improve the regulatory environment is still going ahead. The Securities Board of Nepal (SEBON) has granted license to Central Depository System and Clearing Ltd as per CDS regulation 2067. Now it is expected to start operation after the Dashain festivals are over. Similarly, the newly licensed 16 stock brokers also started transactions. With this the number of stock brokers has increase to 39, providing the investors expanded opportunity to choose their broker. </span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock1.jpg" style="margin:10px;padding:10px;" vspace="5" />Another noteworthy event of the month was the Money Expo organized jointly by Aarthik Abhiyan and Jamb Technologies with Minds Nepal and Morningstar Investment Services Pvt. The 3-day event called "NDEX Money Expo 2011" concluded on September 14 is believed to have helped to promote investment opportunities and tools. Experts from both India and Nepal participated in various discussion programs held during the Expo on topics related to the economy, stock market, commodity market, central depository system, investment banking and so on. In one of the programme, Tanka Prasad Paneru, chairperson of Nepal Stock Exchange opined that the Nepali stock market on that week was in a correction phase and it will gallop after crossing that level.&nbsp;</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>Performance by Sector</strong></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" height="267" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock2.jpg" style="margin:10px;padding:10px;" vspace="5" width="400" />Commercial banking sector holding the heavy share of trade volume in Nepal Stock Exchange dived down 44.32 points or 16.24 per cent to settle at 272.95 during the review period. Insurance sub-index lost 20.75 points to come down at 398.73. Similarly, hydropower sector descended 18.14 points along with 15.80 points decline in finance sector to arrive at 549.23 and 276.24 respectively. Others sector plummeted 8.23 points or 1.74 per cent to close at 472.34 while development bank group ebbed out 5.97 points to rest at 279.92. However manufacturing sector added 20.24 points or 3.33 per cent to reach 607.47 while trading sector gained 4.11 points to rest at 246.08.</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Sensitive index that measures the performance of 117 blue chips scrip at secondary market lost 8.73 points or 11.19 per cent to reach 78.01 while the float index calculated on the basis of real transaction skid 3.31 points to arrive at 26.38. Total of Rs. 493769430 was realized during review period from 2279903 units of share trade via 25195 transactions.</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">The accompanying figure demonstrates the sector-wise distribution based on total amount of trade. Banking sector accounted for 58.87 per cent of total trade followed by development bank sector (13.49 per cent) and finance sector (8.10 per cent). The rest was accounted by the remaining sectors. </span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Technically, Simple Moving Average (SMA) is shabby in both long term and short term. Both 30 days SMA and 200 days SMA are dominating the market with no clue of further correction shortly. Breaching the level of 350 is required for acceleration.<br />
		<br />
		<strong><br />
		</strong></span></div>
	<div style="text-align: justify;">
		<strong><span style="font-size:12px;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)<br />
		<br />
		<br />
		</span></strong></div>
</div>',
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			'description' => 'The Nepse Index needs to cross 350 to inspire the investors, shows this analysis. With Nepse Index continuously sliding down, the month striding over August-............',
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			'id' => '478',
			'article_category_id' => '48',
			'title' => 'Nepal In 10 Years (October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<strong><img align="left" alt="nolaughingmatter" border="1" height="173" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3(3).jpg" style="width: 143px; height: 173px;margin:10px;padding:10px;" vspace="5" width="143" />By Madan Lamsal</strong></div>
	<div style="text-align: justify;">
		<strong><br />
		</strong></div>
</div>
<div style="text-align: justify;">
	Where will Nepal be in 10 years? Many may imagine that in next ten years, Nepal will also become like Afghanistan or Somalia where no good people can stay. But I feel otherwise. In 10 years, Nepal will be at par to fully developed countries and livable like a heaven. At least the words and actions of Nepal's business community, government and the main political leaders clearly indicate to that.</div>
<div style="text-align: justify;">
	<br />
	In recent years, many of Nepali entrepreneurs have proved themselves very innovative in businesses by selling sweets to cereals and setting-up restaurants to bottling water plants. Nepal's private sector has shown a true entrepreneurial spirit.&nbsp;They know how to exploit the ignorance of common people by taking advantage of true free market of Nepal, regulated by none but only Lord Pashupatinath.</div>
<div style="text-align: justify;">
	<br />
	<br />
	The foreigners must be watching all these developments with very keen interest. Therefore, within 10 years Nepal will receive thousands of foreign direct investments (FDI). Because, foreign investors have already seen that there is almost zero FDI in this country except few Indian joint ventures companies struggling here to breathe. Therefore, it is a virgin land for them to invest. Foreigners may have also observed that Nepali workers have been working in foreign countries with paltry salary and they are so loyal there. If these very Nepalis are given jobs in their homeland they will definitely be happier and more loyal to the FDIs. Moreover, the new Finance Minister, who <img align="left" alt="nolaughingmatter" border="1" height="414" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-no laugh.jpg" style="margin:10px;padding:10px;" vspace="10" width="350" />is said to be the man with action or man with a gun, has already said that year 2012 will be the ' Year for Investment '.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	In 10 years Nepal plans to attract more than 20 million tourists a year. Because two years ago Prachanda, the then PM of the Maoist government had announced that Nepal will receive 2 million tourists in 10 years time. Again Maoist is in the power now. So we can definitely hope that they will force many tourists to visit Nepal. They will visit Nepal as well as they do to Vietnam or Russia to see the truly endangered disciples of Lenin and Che Guevara. Tourists will not visit Nepal only to see mountains or for trekking but to get hold of the rarest sights like the YCL camps at factories and to see their commandos' street gang-fights.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	In a decade, Nepal will produce at least 20,000 megawatt electricity not from the hydropower but from road garbage, wind and cow dung, etc. The impact will be such that Nepal will no more need to import petroleum. By then power consumption will increase so much that export of electricity will be obsolete issue. India, who has been waiting for Nepal's electricity for her industrial growth will be bewildered. The pipeline for petroleum that has been laid out from Lhasa to Khasa of China will be useless. Rather, Nepal will earn a lot of money from the carbon trading because of zero consumption of petroleum products.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	Many foreigners from American to Europeans and from Japanese to Singaporeans will apply for working visa here as many of them want to work in the developed Nepal in 10 years time. So there will be a huge problem of illegal foreign workers. So the main task of almost all foreign diplomats' in Nepal will be to seek an appointment with Nepali leaders to rescue their citizens from different illegal indulgences.</div>',
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			'id' => '477',
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			'title' => 'Pasi Koistinen',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><strong><br />
	</strong></span></p>
<p>
	<span style="font-size:14px;"><strong>We Want To Make Mobile Telephony More Affordable</strong></span></p>
<p>
	 </p>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Pasi Koistinen </strong>is the President and CEO of Ncell Private Limited, which became the largest telecomoperator in Nepal some months back overtaking the state-owned Nepal Telecom. The company reached the figure of six million customers recently. Ncell, the first private telecom operator of Nepal was rebranded to its current name in 2010. Nordic telecom giant TeliaSonera has a large stake in the company. Koistinen joined TeliaSonera as a Director in 1998 and took up the position of Ncell CEO in May 2009. He has also served in top managerial level in diverse fields like hospitality business, advertising agencies and telecom service in countries like Finland, Singapore and China. In an interview with Gaurav Aryal of New Business Age, Koistinen shares his views on Ncell's growth, Nepal's telecommunication market and a whole lot of other issues. Excerpts: <img align="right" alt="Ncell" border="2" height="279" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview_pic2.jpg" style="margin:10px; padding:10px;" vspace="10" width="180" /></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Ncell's customer base has crossed six million. How sustainable is this rapid growth in the number of customers? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We have reached six million customers but the penetration is still low in Nepal. We are talking probably somewhere in the region of 50 per cent, meaning that only half of the population have mobile phone connectivity. So, there is still a huge potential. We are expecting the same kind of growth in the future as well because we believe that people need mobile phones. We have experienced rapid growth in the last two years and increased the customer base by three million within a year. So, mathematically speaking, we should have nine million customers after a year if everything goes as expected. The growth is sustainable because every customer we get into the system is generating revenue. The most important aspect is that our customers are happy with us. Therefore, we plan to continue investing in our operations. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>At the time of rebranding, Ncell had only about 2.2 million customers. It has taken a giant leap since, in terms of customer base, coverage and brand name. What is the secret of this huge success? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Rebranding was like a new promise not only for our customers but also for our company and the employees to increase the overall customer service level. So, we decided to invest heavily in the network and subsequently, the rebranding exercise. We doubled the network before the rebranding to make sure that we have something to operate that is good quality network. When we started marketing the new brand, it was an entity of this whole package of services. Service, in our case, is very intangible in the sense that people call each other and there may be 100 million transactions each day. We have to guarantee that these transactions are successful because it's only then that people will come to us. I think this was a major reason for our huge success. Of course, rebranding was another very essential component of our success.<br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>With this tremendous growth, Ncell must be making a huge profi t now. How are you doing on revenue? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Well, it depends what you call a profit. We are not profitable yet if you talk about cash flow which is the main issue when talking about profitability. Revenues are good and we have gained a lot of market share during the last couple of years. But we have invested a lot on infrastructure as well so a big investment takes time to recover. We are spending three to five times more in infrastructure than in other TeliaSonera countries due to difficult terrain and climate. We have to remain humble towards our customers and give them good services and hope that results will follow in due time. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What kind of policies do you have to attract more customers especially from rural areas? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">As you must have seen, we have had a lot of campaigns in rural areas. We want to support the campaigns knowing well that not everybody in Nepal has the same amount of money. Therefore, we have had a lot of rural campaigns to make mobile telephony more affordable for everybody. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Though Ncell has sold more than six million SIM cards, it is said that a large number of SIM cards issued are not in operation. What is the actual number of your active mobile phone customers? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Active ratio varies, of course. Out of the over six million sim cards we are talking about, we know that some of them are not currently in operation. There are people who switch on their phones at certain times only for receiving calls because it does not cost anything for the receiver. The active ratio varies between 80 per cent to anywhere close to 100 per cent. For example, it was almost 100 per cent when we had the earthquake on 18 September. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Tell us about TeliaSonera's Nepal experience in comparison with other countries? </strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">TeliaSonera has been very happy about the investment in Nepal. We are already in number three position among all nine countries in terms of number of users. So, naturally TeliaSonera is very satisfied with what we have done here. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>How is the response to your smart phone service like Blackberry? <br />
		</strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We launched Blackberry because we wanted to make a difference and we are the only operator selling Blackberry in Nepal. We knew from other markets as well that Blackberry will become an essential service for the people who need to be connected while on the move and people who have enough money. In this respect, we are very happy about it. This is an exlusive service targeted at an affluent segment of the market. <br />
		<br />
		We also have Ncell Pro which is a very good approach. In the longer run, we are expecting it to be a great success because we combine the handsets and talk time, sim card, data package and sms package as one set that is easy to buy. But it takes time for people to realise the benefits of it. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>It is said that Ncell and NTC the two telecom giants have left no space for new telecom operators. Is it really that diffi cult for new comers to penetrate in the telecommunication market now? How many operators do you think this market can sustain? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Well, this is a free market and anybody can invest and operate here. However, we do not have many companies in Nepal who are ready to take the risk by investing first. TeliaSonera has a history of entering emerging markets early. Kazakhstan was among the emerging markets we entered soon after Soviet Union collapsed, in 1994. It takes time to build the kind of massive operations that we have so it's not an easy business. I personally believe that this market can sustain three operators. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><img align="left" alt="ncell" border="1" height="426" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview_pic1.jpg" style="width: 356px; height: 426px;margin:10px;padding:10px;" vspace="5" width="356" /></strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What is your take on the practice of squatting on the spectrum license? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We actually have enough spectrum allocated to us and so far we have paid for the spectrum and the license in full. We have also fulfilled all the requirements of the NTA concerning the licenses including the spectrum. On our part, we are clear and it's not for me to analyse about some other companies holding spectrum. NTA too has introduced a fee for companies not using the spectrum effectively enough. It has the provision to penalise them for the so called holding of frequencies. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What are your expectations from the regulatory authority for the improvement in quality of services along with this sectors growth and expansion? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Many things have been clear in the sense that we want to have a level playing field. Especially, when NTC is a government corporation, they do have the advantage of being in the country earlier than us. But the biggest issue is that they are not following NTA regulations. Let me give you an example. There is a rule that the congestion between the operators can be maximum 0.1 per cent meaning that one call out of 1000 can fail. Now, the situation is that for the past two-and-a-half years, I have been here and we have been talking about NTC not being able to give us enough capacity and units so that our subscribers can freely call the NTC network. During the peak hours, the congestion can be up to 60 per cent which is unfair. <br />
		<br />
		We had a very open discussion with NTC and NTA asking them to give us the space because we want to build a good telecom infrastructure company in this country. But, we are compelled to follow what someone else is doing. We don't want to be dependent on our competitors and want them to follow the regulations that are laid out. There is also the issue of cross subsidising, meaning, if you have an NTC mobile phone, you can call the NTC landline without any interconnection charge. However, in our case, we have to pay 52 paisa for every minute when our customers make calls to their network. This means that we cannot be price competitive with NTC on that level and this, of course, is a very wrong practice. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Some time ago, Ncell had commented that the authority was biased against the private telecom operators and especially Ncell. What was the biased treatment? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We are the biggest foreign investor in Nepal so we are requesting for equal treatment and equal level playing field. For examplem, for permission requirement, foreign exchange permission and license renewal fees should be equal for all operators which has not been the case so far. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>WiMAX and 4G spectrum are not issued by the authority yet. Why do you think they are rigid about it? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">To tell you the truth, 4G is essential. But it is not urgent because we are totally occupied building the 2G network. We have always seen that people are very keen on using wireless broadband. Our Ncell Connect became the number one ISP in the country within a period of eight or nine months which really proves that people are willing to have wireless internet connection. I don't believe in WiMAX at all as it is a very limited kind of technology with no handsets available and promises to be an expensive proposition. I really intend to request the government to concentrate on GSM because evolution such as the 4G will continue to take place. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Do you think 4G will be suitable for Nepal?</strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Sure, because it gives excellent speed for data surfing. Now with HSPA, we can go up to 3.6 mbps and with HSPA plus, we can go up over 7 mbps. For instance, when 4G was launched in Sweden, it brought huge improvement to data speed. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>How long will your aggressive marketing continue?</strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">I hope that we continue in the same manner forever. This is a continuous business and we have to give people value for money and time. Marketing is not only about marketing communication, but also about best customer experience. Marketing communication gives promises via billboards and advertisements. But we have to fulfill those promises with other aspects of the infrastructure - network, billing system, call centre, point of sales etc. Our aggressive marketing has reached us this far. So, we are more than happy to continue practicing it and hope that it pays us great dividends in the long run. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><br />
		</strong></span></span></p>
</div>',
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			'description' => 'Pasi Koistinen is the President and CEO of Ncell Private Limited, which became the largest telecom
operator in Nepal some months back overtaking the state-owned Nepal Telecom. The company
reached the figure of six million customers recently. Ncell, the first private telecom operator of Nepal
was rebranded to its current name in 2010.',
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			'title' => 'Flight Of An Aviator',
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			'content' => '<div style="text-align: justify;">
	<span style="font-size:12px;"><b><img align="right" alt="gyanendra" border="2" height="329" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-personality.jpg" style="margin:10px;padding:10px;" vspace="10" width="350" />Gyanendra Bhakta Joshi</b></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Managing Director</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Swift Air</span></div>
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	<span style="font-size:12px;"><br />
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<div style="text-align: justify;">
	<span style="font-size:12px;">Gyanendra Bhakta Joshi, Managing Director of Swift Air, is determined to touch the sky with his dream project. It is his passion for aircraft and tourism that drove Joshi to set up his own airline. He says he decided to venture into the airline sector to set a milestone in the aviation market.<br />
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	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>By Gaurav Aryal<br />
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<div style="text-align: justify;">
	<span style="font-size:12px;">Once on the day of Vijaya Dashami, Gyanendra Bhakta Joshi's elder brother blessed him that he would own an airline one day. While working with Skyline Airlines that is not in existence today, Joshi secretly wished he would have a company of his own. His dream got a new life after meeting Bishnu Prasad Khadgi, now his friend and business partner.</span></div>
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<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi is Managing Director (MD) of Swift Air Nepal Pvt Ltd, a newly established domestic airline. Swift Air is planning to commence its operations from October. He said that the company is bringing in two aircraft in first phase. Of these two, the first one is to arrive in October. Joshi, enthusiastic about making his dream project come alive, is spending day and night just to make sure that his dream is realised.</span></div>
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	<span style="font-size:12px;"><br />
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<div style="text-align: justify;">
	<span style="font-size:12px;">It was in the alleys of Ason that Joshi wandered around as a child. Though his ancestors were from Bhaktapur, his grandfathers moved to Kathmandu. He went to St Xavier's School Godavary and later transferred to Ananda Kuti Vidyapeeth at Swayambhu, where he completed his schooling. He credits St Xavier's for making his academic base strong. Joshi graduated in Commerce from Shankar Dev Campus.</span></div>
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	<span style="font-size:12px;"><br />
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	<span style="font-size:12px;">His family had a hardware store at Ason. Joshi's father and grandfathers had dedicated their life entirely to business. But his uncles took to the service industry. Joshi followed their footsteps and landed in the tourism sector.</span></div>
<div style="text-align: justify;">
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<div style="text-align: justify;">
	<span style="font-size:12px;">He began his career from assistant level in Everest Express Tours and Travels around 25 years ago. That was my first job and I was paid Rs 400 a month, he recalls. In the following years, he worked in Pristine Travels, Tiger Tops Resort and even USAID. Then, I entered the aviation sector with Skyline Airlines in a managerial position, he shares his journey to the airlines business. He has even worked as Sales Manager with GMG Airlines of Bangladesh. I like this sector, so, now I am fully into it, says Joshi. He says his career in the tourism, travel and airlines helped him develop a passion for these areas. Joshi reveals, he is obsessed with aircraft and often visits websites of Boeing and Airbus to update himself with the latest developments and innovations. Now, I have my own aviation company because of that passion, he boasts. Joshi is proud that he has made his brother's blessings become a reality.</span></div>
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<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi counts Skyline's Executive Director Dorje Sherpa as his aviation guru. Whatever I have learned, I learned it from him. I express my gratitude to him for what I have become today, he acknowledges. The aviation know-how did not easily make him the MD of Swift Air. Joshi's hard work, dedication and struggles have paid off.&nbsp;</span></div>
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<div style="text-align: justify;">
	<span style="font-size:12px;">It was three years back that Joshi had thought of setting up an airline and he even started working towards that. Unfortunately, it did not turn into reality. After one and a half years, he met Bishnu Prasad Khadgi who is now Executive Chairman of Swift Air. With one year of homework they received AOC (Air Operator's Certificate).&nbsp;Joshi's two sons who are living overseas are happy to know about their father's venture.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
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<div style="text-align: justify;">
	<span style="font-size:12px;">Khadgi is his only business partner now. Though they had targeted to fly from January 2011, they are now planning for an October launch. Cost is too heavy as it requires setting up offices in every destination. However, this also creates job opportunity in every destination we reach. I feel proud to give employment to more people, he says.</span></div>
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	<span style="font-size:12px;"><br />
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<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi says his company will have around 70 staff members in the beginning. According to Joshi, good incentives and listening to their complaints will motivate staff. He feels that boss is not always right. Joshi thinks staff is the asset of a company. I advise and assist my staff as and when required. I will treat all my staff equally, he shares his human resource management principle. He believes in giving opportunity to new comers too.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
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<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not believe in interfering much in the office management. Although, he wants the line of communication maintained.We just want to know what employees are doing. They must also feel that they are working for their own company and we believe they will. When the company prospers, they will prosper too, he opines.</span></div>
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<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not have much to complain about the aviation policy of Nepal. However he is dissatisfied with air traffic problems. He urges the government to find a solution as soon as possible. He sees a good future and market prospect for the travel industry. He reveals this is one of the reasons behind establishing his airline business. He observes that the tourism sector is growing more every year and he wishes it to boom in the future. According to Joshi, aviation industry is doing well. He says, We established the company with the motto: Let's be a part of aviation team in Nepal.</span></div>
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<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi has already thought of expanding the business in the future. However, he and Khadgi do not have plans to do it within two years. They want to first sustain in the competitive market. After two years, we will go for expansion,he discloses.</span></div>
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	<span style="font-size:12px;">I am more focused on my dream project, he says with a touch of grit. At least 12 hours of his day is spent in work. Joshi says he gets time for his family only during mealtime. However, on Saturdays, when he is mostly on leisure, he loves to go on a drive with his wife. Apart from that, his free time is spent meeting with relatives, staying at home, watching TV or listening to music. He does not usually travel but he promises to do so as his new venture will require him to travel. At times, Joshi feels lonely when his sons are not with him. He says being away from sons have become his part of life. Joshi lives with his wife at Sitapaila.</span></div>
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	<span style="font-size:12px;">Joshi does not have regrets about his career. He feels he is happy with what his life has given him. I have settled down and I possess everything I need, he expresses contentment. The only regret he has from his life is that he could not save his mother who was suffering from cancer. He took her to the best hospitals in Mumbai and Delhi but she could not be saved. That was the saddest part in our life: for me and my family. It has been almost 15 years, but still I feel like crying when I remember those times, he gets sentimental.</span></div>
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<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi's life is closely knit with his profession and his dream project.&nbsp;His wishes, his dreams are associated with his newly established company. I just want to see Swift Air growing.&nbsp;The more it grows, the more people will be employed. And, I wish we could add more aircraft to the fleet, he says.</span></div>
<p>
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<h2>
	<span style="font-size:16px;"><strong><code><span dir="ltr"><span style="background-color: yellow;">Personal side</span></span></code></strong></span></h2>
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<ul>
	<li>
		<span style="font-size:12px;">Not active in social activities</span></li>
	<li>
		<span style="font-size:12px;">Not much gadget savvy uses iPhone and a laptop</span></li>
	<li>
		<span style="font-size:12px;">Loves driving</span></li>
	<li>
		<span style="font-size:12px;">Prefers driving motorcycle to a car in Kathmandu streets</span></li>
	<li>
		<span style="font-size:12px;">Does not play games but watches sports channels</span></li>
	<li>
		<span style="font-size:12px;">Likes gardening</span></li>
	<li>
		<span style="font-size:12px;">Loves watching National Geographic, Discovery, Star Movies, HBO</span></li>
	<li>
		<span style="font-size:12px;">Good music fanatic</span></li>
	<li>
		<span style="font-size:12px;">Likes reading magazines and newspapers</span></li>
	<li>
		<span style="font-size:12px;">Does not drink alcoholic beverages except beer</span></li>
	<li>
		<span style="font-size:12px;">&nbsp;Not brand conscious but believes in looking smart</span></li>
</ul>
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	<span style="font-size:12px;"><br />
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<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Determined to his achieve success, Joshi is not ready to step back. This is the time to watch him take off and see him touch the sky.</span></div>
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			'description' => 'Gyanendra Bhakta Joshi, Managing Director of Swift Air, is determined to touch the sky with his dream project. It is his passion for aircraft and tourism that drove..........',
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	(int) 9 => array(
		'Article' => array(
			'id' => '475',
			'article_category_id' => '40',
			'title' => ''NRB Will Take Every Possible Measure To Bring Liquidity Problem Under Control'(October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><strong>Gopal Prasad Kaphle </strong>is Deputy Governor of Nepal Rastra Bank (NRB), the central bank of <img align="right" alt="" border="2" height="356" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/gopal prasad kaphle.jpg" vspace="10" width="250" />Nepal. He was appointed to the post on December 26, 2010. He started his career in banking in 1955 and is devoted to this sector for more than 29 years. During this period, he worked in banking operation, branch operation, development finance, micro finance, public debt, training, and banking inspection and supervision department. He completed Masterâ€™s Degree in Economics from Tribhuvan University in 1979. He also has a Masterâ€™s Degree in Economics from the University of New England, Australia. In an interview with <i>New Business Age</i>, Kaphle speaks about the current situation in the banking sector and NRBâ€™s regulatory plans for the future. Excerpts:<br />
	<br />
	</span></span></div>
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	<span style="color:#(color);"><span style="font-size: 14px;"><br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Total net profit of commercial banks has increased by 2.28 per cent compared to that of last year. Why is the growth so low?<br />
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	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">The growth rate compared to a few years ago is quite low. However, there is no reason to be unhappy about the profit earned by financial institutions. There are some factors that have caused the liquidity problem such as absence of investment area and environment, turmoil in real estate, margin lending, and until last year delayed government budget. Despite these all, BFIs (bank and financial institutions) are successful in making profit and provide relief to shareholders and promoters. In the coming years, if the things change for the better like a timely budget, investment friendly environment and good corporate governance, we can be more optimistic about the high growth in profit.<br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Problem of liquidity is still not solved. What is the real scenario at present? How long will it take to overcome this crisis?<br />
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	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">If we look at the liquidity inside financial system, there are not many reasons to worry about. A couple of months ago, commercial banks had Rs 22 billion surplus liquidity in the market. Prior to that, more than Rs 30 billion surplus liquidity was observed in commercial banks. Most of the commercial banks except only a few are in surplus. Among B and C class financial institutions, some have surplus while others are in deficit. Moreover, commercial banks are at ease while development banks and finance companies are not completely out of the woods. If we look at inter-bank lending rate, till date, only some finance companies are still borrowing at 15 or 16 per cent. Commercial banks were borrowing at one per cent some time back but at present they are borrowing at around 1.5 per cent. This shows, there is ease in the system but at the individual level, some bank and finance companies are still in problem. But, the liquidity problem is not completely resolved.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">This time of the year is normally the period of ease. During this period, the government budget has been passed by the parliament. There have been fewer investments. Loan and interests repayment rate in the commercial banks is good. That makes the liquidity problem to look relieved. We are also in a wait and watch mode to see what the situation is after Dashain and Tihar. I believe there wonâ€™t be big problems like in previous years. At such times, we cannot deny the possibility of problems. However, we are alert because of the lessons we have learnt. Public trust has developed in the banking sector. In the coming days, NRB will take every possible measure to bring this problem under control. The government has also assured that. NRB, if required, will use any instruments like refinancing to LOR (Lender of Last Resort) to bring the situation in control. To make sure that liquidity does not remain idle, we are issuing development bonds and treating B and C class institutions can participate in such instruments. We are putting them in a separate basket. I am trying to ensure the environment to cash in on instruments whenever there is any problem of liquidity. Problem is psychological too. And, commercial banks are also optimistic that the problem will ease. I believe the problems of the past will not repeat.<br />
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	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">The average non-performing loan out of total loans has increased to 2.41 per cent from 1.92 per cent of previous year. What is your take on this?<br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">This may be realistic too because the biggest problem currently is real estate loans. The financial sector is not mobile. Economic activities are missing; industries are not moving on the right track, there are problems of labour and import-export. Due to unstable government, policies are not implemented. We also realise that NRB has become quite aggressive and taken tough policy measures. We tried to address the problem of good governance that has been left unaddressed over the years at once instead of treating it in a step-by-step manner. Due to the absence of investment environment to tap such opportunities, lending in industries have problems of recovery. Industries may not be running, some might have been closed down, there are labour issues. So, loans are not being paid back. Some banks and finance companies were in problem. So, we decided to liquidate some companies, and because of that, their non-performing loans must have been added. Real estate loans had the largest market share. We put a cap on lending to the real estate. The sales of real state also faltered. As developers cannot sell, they could not repay the loan. We have tried to ease it. However, market and economy as a whole has effects on business and non-performing loans increased.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">On NRBâ€™s inspection and supervision part, we have managed it. Compared to the past, we have improved our vision and efforts to solve problems, monitoring and inspections. After our effective inspection, institutions are not able to turn bad loans into good. That has also led to increase the volume of such loans. Increase in such loans does not mean banking systemâ€™s status has deteriorated than earlier. This is another side of NRBâ€™s inspection, supervisionâ€™s smoothness and effectiveness.<br />
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	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">NRB is planning to adopt a risk based supervision system. What will be the modality of such a system? And, how soon could this be implemented?<br />
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	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">We have various modalities in this risk-based supervision system. There are numerous risks like subjective, managerial and operational among others. Our inspection department categorises specific risks from every sector. Based on that, we define our observation. There may be risks in one sector while others may be safe. This modality tries to take a multidimensional approach to maintaining discipline. It is a change from traditional supervision mechanism. The mechanism is envisioned to ensure that banks and financial institutions should not be in trouble because of any sector or cause. It considers not only good governance, capital base but also operation, investment portfolio among others. This modality aims to calculate and mitigate risks from any sectors. It is based on our belief that a bank must be healthy, strong and create a separate identity in the market.<br />
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	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">Risk-based supervision is applied within NRB too. We are applying it in our departmental operations. It is already under application. We believe risks must be mitigated. We now have to take it forward effectively and give continuity to it. We have to calculate risks that may arise in the future.<br />
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	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">IMF had suggested NRB to exercise more power. What are the new steps NRB is planning to take?<br />
	<br />
	</span></strong><span style="font-size: 14px;">Exercise of power must be viewed considering a couple of elements. NRB exercises power based on NRB Act and BAFIA. BAFIA is in the house and discussions are going on to amend it. It must be strong. The government sector also has a role to make NRB active. We have focused on a few things like taking prompt action on the problems witnessed in financial institutions. NRB must be given right to take prompt action against any issues of good governance. For now, it takes a long time to take action against any person who is proved guilty. The process requires informing the Ministry of Finance then the Ministry of Home and finally the police. If we had power, we could have taken action against some financial criminals. So, NRB must be powerful and the government intervention should be less. NRB should be guaranteed a strong autonomous identity. For that, the status of Governor and Deputy Governor of NRB must be raised which would lead to more power. There must be such provisions that police can make arrests and take actions based on our letter. Time lag that is in existence is encouraging culprits to flee. We are demanding to increase our rights and that will help maintain discipline in banks and financial institutions.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
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	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">What is NRB doing to restore public confidence in financial institutions that is said to be at a low ebb?<br />
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	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">I donâ€™t fully agree with it. At present, public confidence is improving. The confidence started declining when there was crisis of new notes during Dashain around two-three years back. Then, slowly public belief diminished in the entire banking system. And, it heightened with the liquidity crunch. At the same time, some companies were in problem and as a result, trust in the entire financial system eroded. If NRB had not been able to take action and correct its policies, the confidence would have fallen more. We tried hard and deposits have increased, profit has grown though a little and the people are returning to banks for deposits. People kept their money with themselves as some banks could not give loans, or even return deposits. We have moved on from this situation. The increased deposit and surplus liquidity is all because of increasing public confidence. I donâ€™t think commercial banks should worry but this is not a siesta time. Public is so sensitive that if it does not get good service there will be shift in belief and trust. Public confidence must be won with good service, good governance and transparency.<br />
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	<span style="color:#(color);"><span style="font-size: 14px;"><br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">A demand to stop issuing license to financial institution is heard. Is NRB planning to take such action?<br />
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	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">A couple of things must be taken into consideration. Firstly, the number of financial institutions needed for Nepal with respect to our scale of economy must be clear. Another, there must be clear demarcations of public status like deprived groups, remote areas, hilly and mountainous areas and developed areas. We have already faced the consequences of rampant establishment of banks and finance companies. So, we are going for merger. One policy was formulated, companies came meeting the requirements and licence was issued. We have seen its consequences. NRBâ€™s capacity for inspection and supervision was witnessed along with banks and finance companiesâ€™ capacity and implementation of good governance. Often question is raised whether a company can be established or not just with a certain amount of capital. The number is one question, while deepening access of service in certain geographical region and population can be another. Access and inclusion of financial and banking service to all regions must be analysed. The measures to cater to that group or region deprived of service must be pointed out. Similarly, unhealthy competition arises from increased number. The cake is shared by all institutions even as their number increases. Eventually, the size of activities will also diminish. Considering it, a suitable policy and environment must be created. It does not mean we should not issue any licenses. We had prioritised microfinance and its number has also exceeded. There are a lot of duplications. It must be analysed whether a particular area requires more companies or service. Whether to go for branch expansion or number of institutions are two options. So, whichever is feasible we must concentrate on that. Every region and every group of people must be able to access the services and share the cake of national economic development. We must devise our licensing policy accordingly so that there is no duplications and quality facilities are evenly distributed. We are making such policy. We are forming a five-year strategic plan in which we have planned to review the licensing policy. After formulation of that outline, we will have suitable licensing policy and we will bring in merger to control excess institutions and expand in areas with scarcity. That will be either by motivation, giving additional services or accelerating, we will take banking services to those areas.<br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Till date, a merger between two commercial banks has not happened. Do you think the mergers that are happening are satisfactory and meet the expectation of NRB?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">The expectation of NRB on merger is not met. For the coming days, NRB is offering two options: merge and get incentive or be ready for forceful merger. If motivational measures do not work, we will have to go for forceful mergers. IMF and other world bodies have suggested that the number of financial institutions is exceeding the national capacity and need. Our only target is to merge the financial institutions, increase their capital base and ensure good governance. It is our continued effort. There are policy complications and we are relaxing them. We are inviting them to come for merger as soon as possible. It is obvious that some practical problems come during mergers. Nobody wants to lose anything. There canâ€™t be two CEOs, chairmen or GMs. Problems in managerial aspects are visible. Someone must compromise something. NRB is determined and it will make mergers anyhow.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
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	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">NRB is trying to correct several of its mistakes of the past like cap on CEO salary, margin lending and real estate? Why does NRB take ad-hoc decisions in the first place?<br />
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	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">I donâ€™t think so. While trying to manage something in an open system, ripples like in a pond hit by a stone are visible. We did not compromise even while deciding CEOâ€™s salary. It is implemented now. We had some policy difficulties regarding B and C class institutions. There would be large variations if similar policy is applied in all financial institutions. It is difficult to manage as there are institutions confined to a district and also large national institutions. Now, we have addressed it through a new policy. We have let them decide independently on salary but based on certain backdrops.<br />
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<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">How long will it take to improve the BoP situation to a comfortable level?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">BOP has improved lately and it was in surplus in June/July. It will continue to improve in coming months too. I donâ€™t think we will go into deficit this year but having said that we should not stay idle. It is getting positive and we are optimistic. There are countries which have deficit balance of payment and are still considered developed. In countries like ours, where there is small source of income and imports are big, some discipline must be maintained like increasing our productivity in sectors like agriculture and increased credit flow to the productive sectors. Internal production immediately helps BoP. We have requested financial institutions to invest in such areas. When the government budget flows to those areas, production increases and jobs are created. That will have multiplier effect and export will also increase. Import of luxurious goods must be discouraged while development oriented activities must continue. Other options than remittance also need to be sought to remain in safe position.</span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-23',
			'keywords' => '',
			'description' => 'Gopal Prasad Kaphle is Deputy Governor of Nepal Rastra Bank (NRB), the central bank of Nepal. He was appointed to the post on December 26, 2010. He started his career in banking in 1955 and is devoted to this sector for more than 29 years. During this period, he worked in banking operation, branch operation, development finance, micro finance, public debt, training, and banking inspection and supervision department.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '474',
			'article_category_id' => '40',
			'title' => 'We Are Sailing Easy For Now (October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><strong>Sashin Joshi </strong>is the Chief Executive Officer of Nepal Industrial &amp; Commercial (NIC) Bank Limited. <img align="right" alt="" border="2" height="378" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sashin%20joshi.jpg" vspace="10" width="250" />He is also the Chairman of National Banking Training Institute (NBTI) besides being the Immediate Past President of Nepal Bankers Association. He holds an MBA in Finance, a Post-graduate Diploma in Marketing and is Credit-Accredited by international banks. Having started his banking career in 1986 with Nabil Bank, Joshi has also worked in Australia and New Zealand Banking Group, Melbourne, and ANZ Grindlays Bank, Kolkata. He was a Director of the Board and Head of Corporate &amp; Institutional Banking at Standard Chartered Bank Nepal before moving to NIC Bank. Also a Founding Director of Rural Micro-finance Development Centre (RMDC), he aspires to contribute in scaling-up reform in Nepalâ's financial sector by working closely with the government, the central bank and the private sector. In an interview with Pinaki Roy of <i>New Business Age</i>, Joshi analyses the performance of Nepal's commercil banks over the past year and recommends remedial measures on issues that plague the sector. Excerpts:</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What is your analysis of the performance of Nepal's commercial banks over the past year?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">It's not very good. But honestly speaking, I was expecting it to be even worse. Banks were helped to a certain extent by some relief measures given by the central bank at the last minute. I had predicted that the aggregate profit of all the commercial banks put together would be negative. However, we have managed aggregate increase in profit by about two-and-a-half per cent compared to that of last year. My analysis is that the Nepal Rastra Bankâ€™s (NRB) relief measures in the eleventh hour helped us avert negative growth.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Total net profit of commercial banks in Nepal has increased by a mere 2.28 per cent compared to that of last year. What is the reason for this slow growth?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">The commercial banksâ€™ profitability was impacted for a number of reasons. As a result of extremely tight liquidity, banks started competing fiercely for deposits by going one-up on interest rates. The deposit rates increased significantly but the banks were not able to pass on all the increase to the borrowers. This resulted in the banksâ€™ average margin getting reduced. Many banks had to take on additional costs on account of personnel, utility, security, stationery supply etc among others. And of course, there is no business growth for reasons of political instability.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Liquidity crunch continues to persist. What is the severity of the crunch at this point of time and how long will it take us to overcome this?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">I would like to contradict you here. The liquidity situation has improved significantly over the past couple of months. It improved primarily due to two reasons: one is that there was massive government expenditure that happened towards the end of the last fiscal year. Besides, the budget this year came out on time and therefore, there was no gap between budget approval and government expenditure. On the external account, there have been a lot of reimbursements that have happened for projects which were undergoing or completed. Another reason is that due to very tight liquidity crunch and lack of favourable market conditions, banks were putting brakes on new lending. These two reasons together helped preserve liquidity. However, the real test will be when a lot of withdrawals will take place during Dashain and Tihar. Also, if the capital expenditure of the government does not coincide with the festival season, we could have another tight situation. For that, we will have to wait and see but for now, we are <br />
	sailing easy.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">The total non-performing loan has increased by close to 26 per cent as against last year. What could be the possible remedial measures?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">To tell you the truth, I had expected higher increase in non-performing loans. The relief given by the central bank especially to the real estate sector towards the end of last fiscal year provided respite because the borrowers were allowed to pay a month after the year end without attracting any provisioning. I believe there is still some under provisioning by banks.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">If there is a problem, you have to bite the bullet. Postponing a problem is not going to make the problem go away. If you have a problem loan, you have to recognise it as one and make appropriate provisioning for that. However, if a business can be revived through re-organisation or re-scheduling, then we should also make every effort to make that happen.&nbsp;&nbsp;&nbsp; </span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">How can public confidence in financial institutions be restored at a time when the banking industry has been troubled with lower deposit mobilisation?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(0, 0, 0);"><span style="font-size: 14px;">I think the financial system in Nepal is relatively sound, more so when it comes to </span></span><span style="color:#000;"><span style="font-size: 14px;">"A" </span></span><span style="color:#000;"><span style="font-size: 14px;">class commercial banks which account for 80 per cent of the market both in deposits and lending. Most of these institutions are well supervised, have reasonably large capital base and on the whole, well managed. The problem lies basically with "A"&nbsp; class institutions where quite a few corporate governance-related issues have surfaced. There is also a lack of regular and effective supervision by the central bank. If visible measures are taken in these two areas by the central bank and boards of these institutions, I think it will help in restoring public confidence.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What is your stance on granting banking licenses to practically everybody who applies for it? Aren't we overcrowded with banks in the urban centres while 70 per cent of the country still has no access to formal banking?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">That was the biggest problem. NRB effectively had just one criterion capital, so anyone who had the money could virtually open a bank here. That was a very wrong policy because banking is such a sensitive industry. Unlike other industries, banks are the custodian of public money where people put their trust. While allowing bank licenses, NRB should have a very prudent and strict criterion to ensure the right intentions of the promoters and the management.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">It's not a numbers issue. It's more about the quality of the banks and the effectiveness of the central bank's supervision. Banks are spreading out and more than a 1,000 branches have been opened in the last one year by all the banks put together. And most of these branches are located outside Kathmandu.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">We are being inundated with merger rhetoric for as long as one can remember, however, we haven't seen one till now. How serious are the stakeholders about this and how will it impact the industry?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">For any merger to happen, the basis is the potential value addition. Merger for the sake of merger is nonsense. If you look at the international experience on mergers, more than 50 per cent have usually failed. A merger is welcome provided there is value addition taking place between merging institutions by way of bringing in synergies, business, cost, reach, network etc. In Nepal's context, the cultural angle also comes into play. Factors such as multiple promoters with their own personal interests and their respective egos taking precedence etc override the fundamental business deal. That's why I believe that it's very difficult for mergers to happen here.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">However, if mergers do happen, it will definitely be good for the industry. Some degree of consolidation is required because there are too many small players in the market. Size does matter and provided there is a requisition from managements, better efficiency can be brought in.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">How long will it take to improve the BoP situation for us to get slightly more comfortable than we at present are?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">We have a huge trade imbalance and if we are going to depend solely on trade, it is going to take us a very long time. The export-import imbalance is quite severe which we can deal with it by building more manufacturing establishments and having a better industrial base. Even if we want to promote hydropower, the gestation period again is going to consume a lot of time. Therefore, purely based on trade prospects, it is going to take us a long time to improve the BoP situation. We have of course, been helped by the remittances brought in by Nepali Diaspora and also the aid coming through bilateral and multilateral donors that ensures capital inflow. Even if we have financial and political stability and the policies are conducive, we cannot expect wonders. To even expect that we will have a trade surplus will take us at least 10 years if we start now.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Why is it becoming more difficult to control inflation? What are your recommendations to successfully control inflation?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">In Nepal, inflation is primarily on account of two factors. One is the imported inflation which we can do nothing much about. Within this imported inflation, India plays a big role as two-third of our trade is with India which is just the formal trade. If you also take into account the informal trade, my guess is that it would be as much as 80 per cent. So, a lot of inflation is imported from India. The other factor is the supply side where there are no internal control mechanisms. The distribution cost is very high because of the transportation cartels and syndicates. Cost of power is very high in Nepal while the labour costs are ever rising. We still donâte have very good access in terms of roads which again makes it a bottleneck to get goods from one place to another thus adding up costs. We can do a lot on the internal side if the government becomes more effective in its functioning. Besides, the government must allow some subsidy to the agricultural sector otherwise our farmers just cannot compete with the farmers in India where you have subsidies for fertilizers, irrigation, power etc.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What are your expectations from NRB given the prevailing scenario where the banking industry has registered an excruciatingly slow growth?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">One expectation I have is that whenever NRB brings out any new policies, directives or circulars, they do it through a consultative process where stakeholders are involved and there is a dialogue. It's not necessary that NRB has to agree to everything that the stakeholders say but at least there is a two-way process when you take everybody into confidence. If a consultative process brings forth any new policies and directives, there will be ownership from the stakeholders themselves. It means that enforcement will be that much more easier because then it becomes voluntary.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">My second expectation is that while bringing out any new directives or policies, they should also try to emulate some of the best practices in the world and think it through before implementing them. We have seen in the past that in quite a few instances, they have come out with half-baked directives which they had to amend a number of times. That shows some kind of shallow thinking within the central bank when they come out with directives.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">Third one is that when they come out with any policies, they should not look only at the bad practices followed by one or two institutions and then paint everyone with the same brush. They must not generalise. If there are some bad apples, they should handle them individually and not treat everybody with suspicion.</span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-23',
			'keywords' => '',
			'description' => 'Sashin Joshi is the Chief Executive Officer of Nepal Industrial & Commercial (NIC) Bank Limited. He is also the Chairman of National Banking Training Institute (NBTI)..........',
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	(int) 11 => array(
		'Article' => array(
			'id' => '473',
			'article_category_id' => '40',
			'title' => 'Business Of B-schools (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<strong><span style="font-size: 14px;">By Gaurav Aryal</span></strong></p>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="" border="2" height="252" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sep-cover.jpg" style="width: 251px; height: 252px;" vspace="10" width="251" /></span><span style="font-size: 14px;">During past one decade or so, one of the areas that witnessed a exponential growth in Nepal is the Management Education. Along with the growing demand of duly trained human resource in the field, the management education also thrived as the business in itself. The growing number of banks, financial institutions, corporate houses and increased awareness about the need for modern management expertise to run any commercial&nbsp;venture fueled the growth in management education. Private sector investment in setting up the state-of-the-art institutions and immensly improved quality of education indeed have had multiplier effect in adding attraction to both-investors and students. More than&nbsp;one and half dozen colleges affiliated to three universities - Pokhara University, Purbanchal University and Kathmandu University (KU) - are running either Master in Business Management (MBA) or Executive MBA (EMBA) or both. Though the Tribhuvan University (TU) has not introduced any of these courses, it is running Master in Business Studies (MBS) for decades now. TU plans to introduce an MBA programme in the near future. All these universities also run Bachelor in Business Management (BBA), a four year course while TU has Bachelors in Business Studies (three year course) as well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A few years back studying medicine was supposed to be the most prestigious academic pursuit for a whole lot of students and guardians. Today, the market demand, expansion of career prospects in management sector, growing importance of human resources in companies and distinct teaching-learning methodology are luring more students to management education, perhaps, more than in any other discipline. Nepali universities are also working hard to produce quality managers to compete in the market where top-notch managers are still mostly from foreign universities.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The History</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management education began in Nepal in the form of commerce education in 1954 with the establishment of commerce department in government-owned Tri-Chandra College. The college had introduced Intermediate of Commerce (ICom) and Bachelor of Commerce (BCom) programs with 27 and four students respectively. The programme was affiliated to an Indian university till the establishement of Tribhuvan University (TU) in 1959. The following year, in 1960, TU began offering post-graduate programme in commerce called Master in Commerce (MCom) as well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dr Bijay KC, the Dean and Professor at South Asian Institute of Management (SAIM), says introduction of National Educational System Plan in 1971 proved a milestone in the evolution of management education in the country. TU set up Institute of Business Administration, Commerce and Public Administration. This institute was renamed as Institute of Management in 1976. It is now called Faculty of Management (FOM).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Nepal National College (later renamed Shankar Dev Campus), Public Commerce College (Kathmandu), Nepal Commerce College (Lalitpur), Thakur Ram College (Birgunj), Mahendra Morang College (Biratnagar) ruled the roost for a long period in the management education of Nepal. Numerous prominent business persons&nbsp;and management gurus were educated in these colleges. These colleges were later brought under the direct control of TU (as TUâ€™s constituent campuses) following the introduction of National Education System Plan of 1971.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That system of complete state control on education was withdrawn in 1979 and TU started granting affiliation to colleges set up by the private sector. However, it was only after 1991 (i.e. after the advent of multi-party democracy) that there was real growth of colleges from the private sector in management as well as in other types of higher education. That was the year when Kathmandu University (KU) was set up. KU set up Management School (called KU School of Management or KUSOM) in August 1993.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That was followed by establishment of Purbanchal University in 1995 and Pokhara University in 1996. Thus, there are four universities in Nepal now providing management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">These universities are competing to introduce new tools and techniques in management education. For example, MBA with modern teaching-learning methodology and accordingly courses designed at these universities have helped maintain almost global standards in upper-level management education. A new brand of MBA â€“ EMBA has been introduced recently targeting practising managers. This management programme has been introduced in several private colleges affiliated to Pokhara University, Purbanchal University as well as the central college of KU called KU School of Management (KUSOM).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As of 2009, TUâ€™s FOM had 28 constituent colleges and 506 affiliated colleges. The latest entry (August 2011) in the website of Pokhara University shows that it has over ten colleges affiliated to it for different types of management education in the Bachelorâ€™s or Masterâ€™s level in addition to its central campus of PU School of Business. Similarly, KU has three colleges affiliated to it for such courses in addition to its central campus KUSOM. Purbanchal University has over 35 constituent or affiliated colleges for such programmes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">These colleges offer such courses as Master of Travel and Tourism Management (MTTM) at the Masterâ€™s level in addition to MBA, MBS and EMBA. At the Bachelorâ€™s level, there are other specialised programmes as well in addition to BBS and BBA. The examples are Bachelor in Hotel Management (BHM), Bachelor of Information Management (BIM), Bachelor of Travel and Tourism Management (BTTM), Bachelor of Business Information System (BBIS) and Bachelor of Commerce Studies (BCS).&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, despite such growth in management education in Nepal, a large number of Nepali students are still going abroad for management education. While that shows the growing demand for the higher education in management science, it has lured a number of foreign institutions to set up their campuses in Nepal or forge partnerships with Nepali colleges or universities.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The Growth</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Saroj Dhakal, Management Faculty at the recently established CG-CEDEMAS Institute of Management (CGCIM), feels MBA has now become a most sought after brand amongst the ones aspiring to make career in financial or managerial fields. This institute is a joint venture between Nepalâ€™s one of the porominent business houses Chaudhary Group and Englandâ€™s Centre for Development Management Studies (CEDEMAS).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Colleges offering MBA, EMBA or both degrees</span></div>
<table border="2" cellpadding="0" cellspacing="0" style="width: 424px; height: 987px;">
	<tbody>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">S. No.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Name of College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Affiliation</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University School of Management (KUSOM)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">2.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Ace Institute of Management</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">3.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Apex College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">4.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">National Open College (NOC)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">5.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Uniglobe College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">6.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University-Faculty of Management Studies</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">7.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">South Asian Institute of Management (SAIM)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">8.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu Don Bosco College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">9.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Novel Academy</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">10.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Presidency College Of Management Sciences</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">11.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Zenith International College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">12.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kantipur Hotel Management &amp; Interior Design College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">13.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">DAV College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">14.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Topper Management College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">15.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">White House Graduate School of Management</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">16.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Campion Kathmandu College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">17.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Birganj Public College, Birgunj</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">18.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Maharaja Agrasen College of Management, Birgunj</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">19.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Management Campus, Biratnagar</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">20.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nepal Bebasthapan (Sang) College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">21.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">King's College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">22.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Presidential Business School</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">23.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nova International College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">24.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Lord Buddha Education Foundation (LBEF)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Sikkim Manipal University (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">25.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International Center for Academic College of Distance Education &amp; Online Studies(ICA)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Indira Gandhi National Open University (IGNOU) (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">26.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nepal Information Technology</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Indira Gandhi National Open University (IGNOU) (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">27.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Institute of Banking &amp; Management Studies</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Bharathiar University (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">28.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">KFA Business School</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Vinayaka Missions University (India)</span></div>
			</td>
		</tr>
	</tbody>
</table>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Apart from the banking and financial system, the demand for professional managers is equally strong in other sectors like tourism and hospitality, energy, agriculture, public sector and others.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As the reasons for growing attraction and development of management education Dr Bijay KC lists development in infrastructure over one-and-a-half decades, change in the trade and occupational patterns in Nepal, growth in media, information technology and development of financial sector, among others. MBA and EMBA graduates are more in demand in the private sector than in the government. KC feels that globalisation and liberalisation have spurted the demand for quality managers.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Prof Dr Geeta Pradhan, Dean at Faculty of Management Studies at Pokhara University, says â€œThe growth of banks and corporate houses has definitely added attraction to management studies in the country. Similarly, MBA teaching methods has several in-built practical approaches with internships, project works and case studies.â€ She thinks such approach of teaching-learning methodology produces graduates that are competitive in the work environment and turn out to be capable managers. She added, â€œManagers are required in every field â€“ hospitals to corporate houses. This has created the demand for management graduates.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, Prof Dr Dev Raj Adhikari, Head, Central Department of Management, Tribhuvan University, says that the current growth is not of the actual business schools but in the business studies. He gives credit for this to leading four universities for the growth. He says, the number of students and resource persons is growing along with the demand for competitive human resources in the market that is also growing. Adhikari says, â€œManagement education has improved in terms of both quality and quantity.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<strong><span style="font-size: 14px;">Student Psyche</span></strong></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">MBA students are often tagged as job creators in foreign universities for their attitude summarised as: â€œWe donâ€™t seek job. We create jobs.â€ However, that attitude is not so common among Nepali students. Pradhan says, â€œStudents are not sufficiently eager and positive towards setting up their own business. When I encourage my students about coming up with such ideas, I donâ€™t see enthusiasm in them. I think they are quite lazy. Working in a bank is considered prestigious while setting up a farm by an educated person is not given respect in our society.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari says, â€œMore than 95 per cent students are job seekers.â€ He says it is engraved in our culture to search for jobs rather than create one by taking risk of being an entrepreneur. However, he shares some examples of his students who are willing to take up an entrepreneurâ€™s career. â€œSome MBA graduates have established their own cooperatives and finance companies, which is quite positive.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dr Subas KC, Dean of KUSOM, says that most of the students in his colleges are from well-off families and they prefer easy desk jobs in banks rather than hard work, of setting up companies and being an entrepreneur.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Social psyche, parentâ€™s expectation, socialisation and schooling are blamed for this mentality of job seekers rather than job creators. In fact, MBA courses are not designed to produce graduates who seek jobs but it is designed to produce managers and entrepreneurs. Risk taking attitude is said to be missing among students and aspiring entrepreneurs.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dhakal however points out that the level of risks to be shouldered in our society is higher than in other comparable countries including in the immediate neighbourhood. Lack of security, extortions and unfavourable investment environment are driving away graduates from setting up their own business, he argues. Julie Peters, Project Director CGCIM, says her college provides incentive to students with best ideas to set up their own business at the end of their studies to promote entrepreneurship.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Curriculum</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management course covers a wide range of disciplines with focus on marketing, human resource management, organisational behaviour, and strategic management among others. Apart from these, mathematics, psychology, sociology, philosophy and economics are taught in the classrooms to the graduate students. These courses expect students to understand and manage the literally all operational aspects of the organisation. Management studies enhance the managerial skills by sharing of ideas, healthy discussions and project works, say experts.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari, who is also the President of Nepalese Academy of Management, said MBA course is designed to understand the changing perspectives in the business. MBA graduates are expected to understand new definitions and programmes, think strategically, make decisions and have a practical approach to any problem. The aspects make them expert managers and business leaders.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Number of Management Colleges</span></div>
<table border="2" cellpadding="0" cellspacing="0" style="width: 401px; height: 246px;">
	<tbody>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Courses</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Tribhuvan University</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">BBS</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">533</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">BBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">18</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">35</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">23</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">4</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">MBS</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">45 in operation out of 90</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">MBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">6</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">12</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">EMBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">3</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
		</tr>
	</tbody>
</table>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari shared, â€œGeneral Motors of USA has devised three â€˜Tsâ€™ concept for its human resources - technology, talent and transformation. We need MBA graduates for such transformations.â€ He adds that MBA course in Nepal is devised to produce capable leaders who can understand and cope up with new advancements and plan, organise and execute accordingly. â€œMBA is not introduced only for the sake of MBA. It was introduced to support the emerging economy by developing such human resources that can meet the requirements either through a job or entrepreneurship,â€ he said talking about TUâ€™s management programmes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Scholars accept that the masterâ€™s level curricula on management of Nepali universities are that of the international standards. However, they often question about the way it is delivered to students. Dr Bijay KC said, â€œThe system we follow is more or less the same as in foreign universities. Many universities have accepted the credits our students have achieved primarily due to the courses we teach. Semester system, alphabetical grading evaluation, standard text books used here are similar to western system. In some cases, students may have to take some test/examination which, I think, is normal practice everywhere for any&nbsp; foreign student.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Professors think that the main gap is in the teaching-learning methods. KC explains, universities have the same curricula that cover human resource, finance, marketing, organisational behavior, economics, quantitative techniques, strategy, environment and management information system with more or less similar contents.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari and KC share the similar view that most important is the treatment of the course and its delivery in the classroom, the quality of faculty, the pedagogy used and practical exposure that the students gain during the course.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Teaching-Learning Methodology</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The classes of TU MBS are mostly based on the lecture method. However, the colleges under other universities have adopted more practical and participatory methodology to teach in MBA level. These days, traditional teaching-learning method based on lecture is deemed obsolete for any discipline. For management studies, active participation of students in group work and more practical approach, along with observatory methods are considered appropriate. In an MBA class, teacher and students challenge statements, attack and defend ideas. Inclusion of other approaches plays an important role in the learning process.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari says the central department of management is forced to adopt the traditional method of lecture as they have a huge number of students â€“ around 200 in a single class. He says this simply makes impossible to adopt the other style such as group discussions, presentations, case studies, etc.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Peters of CGCIM opines, â€œPurely academic approach will not work. The MBA course must take an approach of looking at company case study and the actual issues in that company and how they address those issues. Theories may come later. Theory is something managers already know from their experience but they donâ€™t realise that they know.â€ Dhakal from the same institute argues that for a class to be participatory and active, students too must have some kind of exposure and experience. â€œBut Nepali students are straight out of the undergraduate colleges, so the teaching methodology is confined to theories alone,â€ he said. Internationally, students can enrol into MBA course only after practical experience of a couple of years as a manager.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">An appropriately designed MBA curriculum demands for more participation, personality development and attitude development. So, the classroom must be synchronised accordingly. After graduation, students enter the job market. So, the colleges must be producing graduates who can face the real working environment. Adhikari believes, â€œTeaching-learning methodology plays a pivotal role in bridging the gap between classroom and workplace. Such environment in the class must be ensured so that they can adapt to the work environment the very next day.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Some of the business schools have tried to revolutionise the classrooms. They have introduced the concept of dual faculty in a class. Along with an academician, a professional contributor takes a class. Academician deals with the theory while the professional contributor shares his supportive working and real-life experiences. Such professional may be a Chief Executive Officer or Human Resource Manager of a bank or a corporate house.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Most graduate schools of management implement project works, participatory techniques, encourage team work, case studies and field visits and some invite visiting faculties from foreign universities. Similarly, games, participatory techniques and decision making opportunities are frequently practised in graduate schools.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">International Recognition</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The validity of degrees from Nepali universities is often questioned in foreign universities, mostly in the US and Europe. The courses adopted here, teaching method, curriculum, assessment criteria are mostly blamed for the failure of giving equal recognition to our degrees. Nepali masterâ€™s degree holders from any university mandatorily have to take up some kind of foundation course or additional credit hours in those foreign universities for them to get recognised as MBAs for employment and further degrees. Moreover, the competency of our colleges and students with the international counterparts can also be often questionable.&nbsp;Experts believe our universities and management institutes cannot be compared to the quality being offered by some universities and institutes in India and the US. However, we have been successful to devise the curriculum that is at par with the international quality for MBA as well as BBA.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In case of MBA, a student requires to meet certain requirements in USA to get enrolled. Unlike here, a student must have two years of work experience and must appear in the GMAT test before admission. Adhikari points these as some of the reasons why our degrees are not directly recognised internationally. However he claimed, â€œAlthough there is no direct recognition, our education is not derecognised anywhere in the world. After meeting some of their criteria like additional courses and credit hours, our degrees are largely recognised.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">One of the reasons Nepali young generation prefers foreign or international degrees to pursue MBA is the issue of recognition of our degrees.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Foreign Affiliation</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A number of Nepali institutes and colleges have now presented an option to acquire foreign degrees while being within the country. However, most of these colleges are centred in the capital city Kathmandu only. It is not only the Nepali colleges that are willing to bring in foreign affiliations, but also foreign universities are interested to have Nepali affiliates. The reason is the attraction of Nepali students for international degrees and thus the potential market for those colleges.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">CGCIM is the latest institute to offer post-graduate diploma affiliated to Centre for Development Management Studies (CEDEMAS), UK. Dhakal of CGCIM says that the institute was established with the idea to provide teaching in Nepal by foreigner professors. He said, â€œThis is the concept of providing a world-class degree from Nepal. Instead of students going abroad, professors come here to teach and the cost is relatively very small for the students.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Similarly, colleges like KFA, Institute of Banking &amp; Management Studies, Lord Buddha Education Foundation and some other are affiliated with Indian universities. Kingâ€™s College, Presidential Business School, Nova International College are affiliated to International American University, USA.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, the quality of the affiliated university is also questioned by professionals in management and business studies. KC of KUSOM said, â€œUniversities that Nepali colleges are affiliated to are not much heard-of. Such co-operations will not contribute much to the development of management studies. It will be really praiseworthy if colleges can bring in affiliations from top universities like Harvard, Oxford or any other well-known universities or even Indian Institute of Management.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Although the trend of getting affiliation with foreign university is increasing, the government universities are not feeling any threat. Adhikari of TU said, â€œNepali universities are in the forefront on the basis of competition and curriculum. We have much better course design that is customised with Nepali culture, system, economy, situation, need and expectation of the market.â€ Most of the foreign affiliations are based on the distance learning mode.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Sponsorship</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Funding students for business and management studies in Nepali college is not much practised by corporate houses. However, some corporate houses have financed a few students in some leading colleges. Apart from that there is also a trend to send the employees of the corporates to Indian colleges and institutes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Professors do not think that corporate houses are sending students abroad due to the crisis of trust on Nepali colleges. They believe it must be because of some extraordinary qualities that they cannot find in Nepali colleges but see in foreign ones.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However Adhikari says, â€œCorporate houses are not investing in HR for academic programmes. I have not found a single student sponsored by corporate houses.â€ Even in EMBA, which is meant for working managers, students are studying under self-financing. According to Adhikari, in other countries, EMBA students are compulsorily sponsored by employing organisations.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">EMBA</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">EMBA is the course designed for working professionals who want to improve their leadership and management skills. It is relatively a new course introduced in Nepal. This programme is said to help managers learn, grow, and change in their career while working. It is the only post-experience management degree as the MBA here does not need any prior work experience.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">EMBA is a two years course based on semester or trimester system. The course aims to enrich both theoretical and practical knowledge. The course requires being changed and updated to keep up with pace of the evolution in the market. Students of EMBA believe it helps to tackle the challenges they face in managerial profession that keep on arising at work. The course content of EMBA is quite similar to that of MBA with more priority on the practical aspects. EMBA colleges adopt case study, participative method, group discussions, presentations, field visits, project works as their common methods of teaching-learning, supported by lectures.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Three universities â€“ KU, Purbanchal and Pokhara University â€“ are offering EMBA courses. KU has it in its own campus â€“ KUSOM while Pokhara is offering it in its central campus as well as affiliated colleges and PU is providing it through its affiliates. Assessment criteria applied in these universities is a mixed bag of practical and theoretical written exams. Moreover, most colleges have implemented the overall performance evaluation for the grading system that is usually alphabetical.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Career Prospects and Recruitments</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management and business graduates opt for career in the financial sector which is at present the major job market in Nepalâ€™s formal sector. Students do not much prioritise other sectors than the financial institutions as their career area. Only a few students take the path of self-employment and job-creation through entrepreneurship.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Joint venture companies are also becoming the target areas of MBA graduates for jobs. Meanwhile it is expected that the service sector, which is growing fast, will certainly attract management graduates. KUSOM has its own employment cell to coordinate job placements. Ace Institute of Management too has similar kind of on-campus and off-campus placement mechanism. Dr Subas KC said that students used to be hired by well-known corporate houses in bulk when KUSOM was the only college to offer MBA. However, bulk hiring is not much practised now, companies still reach the college searching for suitable MBAs. Apart from students searching for jobs, companies too come searching for their probable employees.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Although it is not so difficult to secure a job after MBA, the facilities, working environment and remuneration are quite low compared to their qualification. Dr Geeta Pradhan accepts that management graduates are not getting the pay in Nepal that they deserve.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In our market, performance-based pay is less in practice. The flat industrial pay scale is common. Although pay is determined by several factors like economy, industrialisation, market, countryâ€™s status, personâ€™s productivity and efficiency, it is believed that most appropriate pay system is performance-based, that is what exactly is missing here in Nepal.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The Future</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Nepal being a growing economy, it is certain that the need for professional managers will grow in almost every sector. With the creation of job and growth of market, management graduates will be demanded by both private and public sectors. There are sectors like hydropower might just gradually open up as attractive jobs for new graduates The job market that is confined to the banking sector is certain to expand with more joint ventures coming, growth of service sector, more industries and growth of market.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That will lead to more demand for management graduates and management schools that produce top-notch managers. The collegesâ€™ changing trend shows that they will be able to manage to cater to the demands of the market and time. For that, the teaching-learning method has to change for the better. Similarly, the research practice that is missing among the professors must be developed. Rather than studying just what is happening in the outside world, management schools must be capable to address the evolving Nepali market realities. Without researches by the universities and professors that is almost impossible to do.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Moreover, MBA colleges are blamed for utter commercialisation. To revolutionise the management studies, they require to rise above the worries of profit and loss and dedicate themselves to bring in professional management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Experts opine that the concept of business school in true sense of the term is yet to come to Nepal. Business schools are more autonomous with definite vision, mission, and goals and operate accordingly. Adhikari says that such schools have distinct identity and existence. â€œTU is planning to develop the concept of business school. The only question is the extent of autonomy.â€ He thinks that MBA colleges are coming just for the sake of money without caring to meet their social responsibilities. The courses and academic studies must address the current needs of the country. â€œBusiness schools just with the aim to get students for the sake of business will not sustain in the future. They must take ahead business education with national and international perspectives in mind and by charting out clear vision, mission and leadership,â€&nbsp; he suggests.</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;"><br />
	</span></h3>
<h3 style="color: blue;">
	<span style="font-size: 14px;">* Alumni Speak *</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Sujan Raja Shrestha received an MBA degree from Kathmandu University School of Management (KUSOM) in 2000. Currently a Management Consultant with Smart Food &amp; Snacks Pvt Ltd, he also manages his own business ventures â€“ Sovereign Education Network and Barahi Eco Farming Company.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Having started his professional career as an employee in various companies, he has come full circle in his decade-long professional journey. He says, â€œI have learned much and had the opportunity to implement management skills over the years.â€ Shrestha takes pride in having reached the companies he worked with (Himalayan Snacks, Smart Food etc), to new heights. He emphasises that a corporate entityâ€™s success is the result of team work to a large extent. And almost in the same breath, he doesnâ€™t forget to remind, â€œTo manage and mobilise a team well enough to obtain maximum output, we require excellent management skills.â€ He adds that these skills can be learnt and it certainly helps having a management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Shrestha believes that one must not pursue management education, particularly an MBA degree, only to find better employment or to get a promotion. â€œThe knowledge a student gathers while studying management builds his/her analytical skills better than ever before and pays dividends over a long period of time,â€ he explains. He opines that a competent management education helps students make more informed decisions with a greater probability of success.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A firm believer of blending theory and practice in management education, he expresses confidence that having successfully completed their MBA programme, the students can choose any business or profession they have their heart for and want to excel at. Shrestha hopes that most management graduates will ultimately turn employers rather than remaining employees for life. â€œI look forward to the current crop of MBAs to turn entrepreneur after getting a few years experience so that they can create jobs for others and become more productive and constructive,â€ he concludes on an &nbsp;optimistic note.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Subodh Sharma Sigdel completed his MBA (Finance) from Nepal Commerce Campus, Tribhuvan University in 2000. He also attained an additional degree with an MSc in International Banking and Finance (IBF) from University of Greenwich, London in 2010. He is currently the Chief Executive Officer of CDS and Clearing Limited.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Sigdel was in the early phase of his banking career when he completed his MBA in 2000. The qualification helped him become a good leader and taught him skills related to conflict management, team motivation, plans and programmes preparation, effective communication and overall managerial acumen. After working in the banking and financial sector for more than nine years, he realised the need to get another degree that specialised in his working arena. Hence, he opted to obtain a degree in International Banking and Finance from the University of Greenwich in London. â€œThis degree has given me an excellent opportunity towards shaping my career,â€ he observes. Meanwhile, Sigdel also ran a trading institute where he trained commodity and stock investors about investing money in the market. He has been recently appointed the CEO of the first ever CDS company of Nepal, CDS and Clearing Limited which is an integral part of the capital market. â€œStudying subjects like International Capital Market and Financial Trading Techniques immensely helped me in bagging this coveted position. Besides, the IBF degree helped me with my policy making role and supervisory activities,â€ he reiterates. He credits his MBA (Finance) degree for building his career while being grateful to the MSc (IBF) qualification for shaping his career in a better direction.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">â€œManagement education has become extremely important for students aspiring for a career in management,â€ Sigdel asserts. He suggests that students should pursue a management degree because the market holds enormous opportunities for trained professionals. He adds that management career, today, is not limited to the banking and financial sector only. â€œCareer choices for management graduates are widening these days with new companies like Central Depository System, Commodity Exchanges, Credit Rating Agency, Mutual Funds and the concept of working as Commodity and Stock Trading Members have emerged in our economy,â€ he points out. Since these companies demand huge workforce, Sigdel advises students to attain relevant management education and fashion successful managerial careers for themselves.</span></div>',
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			'created' => '2011-10-11',
			'modified' => '2012-08-23',
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			'description' => 'During past one decade or so, one of the areas that witnessed a exponential growth in Nepal is the Management Education. Along with the growing demand of duly.......',
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	(int) 12 => array(
		'Article' => array(
			'id' => '472',
			'article_category_id' => '40',
			'title' => ''We Are Compelled ToStudy Foreign Cases' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;"><b>Prof Dr Geeta Pradhan</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dean, Faculty of Management Studies</span><span style="font-size: 14px;"><img align="right" alt="" border="1" height="215" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/geeta pradhan(1).jpg" style="width: 166px; height: 215px;" vspace="10" width="166" /></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Pokhara University</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What are the emerging trends in management studies?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">New courses have been introduced in Nepal like EMBA. In MBA too, we have MBA in Finance, MBA in Global Business and we have planned for MBA in HR (Human Resource) Management and MBA in Management Information System. These courses produce expertise that is required for any corporate house or enterprise. Other course that I want to introduce is a Masters programme in Public Policy. I think the current education does not well equip those going for government and civil services.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">There is a remarkable growth in management colleges and students in Nepal. When I joined Pokhara University, there were very few students. In 2008, there was just one student in MBA. In Pokhara, there was a belief that MBA will not succeed. With the help of some officials from the university, I visited banks, institutes, chambers of commerce for searching students. They all assured to cooperate. Then, we received applications from 80 candidates while we had only 50 seats. At that time in BBA, the dropout rate was high. Admission was announced thrice for one BBA session. The growth of banking sector has also created demand for capable managers. Management studies with practical approach of teaching like internships, project works have helped graduates to contribute competitively in the organisations. Hence, there is growth in attraction to these courses and management schools.This course produces capable human resource and managers who are required in every field â€“ hospitals to corporate houses. Emerging financial institutions and corporate houses have also increased the demand for management graduates.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Some corporate houses are sending students to study in foreign colleges. Does that mean they donâ€™t trust our colleges and curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is not that our education is bad but we have not achieved their level, which we can achieve easily. I blame our attitude to ignore rules, regulations and the system. Despite having excellent course design, students are not able to perform well. If they can work accordingly, they will be capable, honest and manage their time efficiently.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Most MBA graduates seem to be targeting a job in banks. Are the MBA courses designed for that only? Do you see any&nbsp; misconception in students?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That is a misconception. The MBA is for producing capable managers and entrepreneurs. Our society does not respect all kinds of works. Table work is always considered the best job but running a farm is taken in a different way. Bank jobs have become a symbol of prestige now. Very few students think of setting up their own businesses. I encourage students to find out ways to use hot natural springs around Pokhara and prepare proposals but I think students do not have positive attitude for such creative works.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Case study is what foreign universities opt for teaching. It is said that we donâ€™t have much cases within our country to study. Are we forced to study only the foreign cases?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In case studies, frankly speaking, the trend of case writing is missing in Nepal. In my university too, we employ the case study method, which is a foreign concept. Good cases from Nepal are not being written. There are some professors who write them but still good cases are missing. We often encourage writing them but professors for some reasons are not willing to write them. I think they feel lazy. I feel we donâ€™t have a tendency to be competent and do something different. So, we are bound to study foreign cases though we have enough cases and examples in our own surroundings.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How suitable is our curriculum for the typical business environment of Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The curriculum suits the typical business environment of Nepal. However, the dialogue between academia and business is missing. Business is heading in one direction while business schools are in another.&nbsp;I often tell business houses to exchange resources but I donâ€™t know why it is not been possible to find a working chord.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Curriculum and teaching-learning methodology of Nepali colleges and universities are&nbsp;said to be traditional. What is your university doing to update your curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is true that we have traditional method of teaching and learning. For bringing some changes, students must have exposure and the teachers too need to have some inputs. They teach only what they have studied. That makes it quite difficult. When visiting faculties are selected I prefer MBA graduates from America. They have exposure to different methodologies and it is definitely different than teachers who got education here. We are revising the curriculum even of BBA and that has been approved by the subject committee. We have also included the course of business ethics. We continuously go on revising the curriculum.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How does the course bridge the gap between real life work place and the lessons taught in business schools?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">If there were more teachers who studied in foreign universities or from abroad, bridging the gap between classroom and the real world would have been much easier. There are many constraints. When we ask students to go for some field visits they ask the university to bear the cost. That is a hindrance. To some extent, students also need to bear these expenses when it is useful for their studies and career. I think many do not understand the concept of university. In university, students are required to manage some expenses for themselves. What they do and what they learn in classroom is reflected in the real working environment.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Nepali universities are said to have weak management and the basics like exams and results are not conducted on time. What is the main problem?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The management is not a total failure but it is also true that it is quite weak. The management is unable to enforce the rule upon students and their unrealistic demands are not suppressed. In some cases, colleges themselves are involved in encouraging students for demonstrations to change the date of scheduled exams. They reason, the course is incomplete. I think infiltration of political elements in colleges is guiding it. But we have tried to bring the session back on track by cancelling vacations. The situation is gradually improving because we are also taking firm decisions. I think one of the reasons behind such practice is, most of the time students are enrolled without proper selection due to various reasons.</span></div>',
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			'description' => 'New courses have been introduced in Nepal like EMBA. In MBA too, we have MBA in Finance, MBA in Global Business and we have planned for MBA in HR....',
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			'id' => '471',
			'article_category_id' => '40',
			'title' => ''MBA Has Become Competitive Now' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="" border="2" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/dev raj adhikari.jpg" style="width: 190px; height: 245px;" vspace="10" /></span><span style="font-size: 14px;"><b>Prof Dr Dev Raj Adhikari</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Head, Central Department of Management</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Tribhuvan University</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The growth you are talking about is the growth of management education. Four universities namely Kathmandu, Pokhara, Purbanchal and Tribhuvan University (TU) - the oldest one in the country - are contributing to the growth of management studies. Along with the growth in number of students and faculty, there is also the growth in demand for the products in the market. Market is also growing. Currently, we can see quantitative growth but there is impressive qualitative growth too. Recently, a report of Ministry of Education has revealed that the number of students going for foreign education has dropped. Management education has grown both qualitatively and quantitatively.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What are the emerging trends in management studies?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We are talking about globalisation today. That automatically reflects in our curriculum. Our curriculum cannot always be taught in the same old traditional methods because our students have to compete in the international market. The demand is growing for&nbsp;change and advancement in the management studiesâ€™ curriculum. The teaching-learning model also needs to be reformed. Some schools have adopted really good methodology but in our MBS, we have not been able to achieve the global standards due to a large number of students.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">The teaching-learning methodology is often criticised for being traditional. How have the management schools tried to change the traditional practices?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Some of the institutes are practising methods like project works, case studies and participatory techniques in classrooms. They are encouraging team work and group work. Students are often taken for industrial tours and field visits. Professionals and entrepreneurs are giving lectures while visiting faculties are being sourced from foreign universities. These are now being practised in Nepali colleges. They are trying their best because they are getting money and need to satisfy the parents and students. I have seen bank CEOs addressing the classes. Some institutes even have the system of dual faculties in which one is academician while the other may be a professional. Academician teaches theory while the professional shares his real work-life experiences. He may be the HR director of a certain bank or even a CEO. Now, MBA has become competitive. Market will judge in the future if one can or cannot deliver. Teaching-learning method is not that much traditional as in the past. In MBS, traditional method is also being used. The most popular method in the world is the lecture method. When the classroom is small and focus is on a particular group, we can go for case studies, game theories, project works, participatory techniques, create decision making opportunities. But in a large class, the same is not possible. It is being traditional because we donâ€™t have environment to use new tools and pedagogy. Some classes are traditionally run but the cases have changed a lot compared to the past. In the coming ten years, there will be a lot of changes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is our competency compared to the level of regional and international universities?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is very difficult to say what exactly is our competency compared to other universities, especially those in India. Currently, in the growth of Indian management education, quality is especially seen in state universities and management institutes like IIM, Ahmedabad. We have not reached that level of quality in education. Here, Pokhara, Kathmandu and Purbanchal universities are leading in MBA. They have changed with time and have created the course well with a lot of planning but so far the implementation is missing. We are lagging behind in regional and international perspectives. But the TU MBS can be easily compared to Indian quality. Curriculum is good and our MBS course can be compared with good universities in India. So, what we can safely say in MBA we still have to do a lot of things because growth in business here does not have the same pace as in India. Our internship level can by no means be compared with theirs. We have also not been able to provide facilities and educational environment that Indian MBA students get. In such a case, we canâ€™t compare with them. Nevertheless, we are trying our best; our universities are trying for something similar.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Are our colleges, courses and degrees internationally recognised?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">TU is recognised worldwide as the largest university of Nepal. Any masterâ€™s degree holder from TU need to do further studies if he wants to pursue further studies in the US. MBS graduates again need to do MBA there. In USA, to do an MBA, one must compulsorily have two years of work experience but it does not apply here. And they must also appear in GMAT. Here one can directly join MBA after bachelorâ€™s degree. So, there is no direct recognition but our education is not derecognised anywhere in the world. Though they donâ€™t give exact equivalence, after completing some credit hours and some courses, our degrees are recognised well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is our curriculum targeted at â€“ producing job seekers or job creators?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We should try to develop professional entrepreneurship as well. It is engraved in our culture that after completion of studies, everyone must do some kind of job. Everyone expects to get a good job. But there are some students who really want to develop as a professional or an entrepreneur. Some of my own students are aiming to create jobs through their entrepreneurship. More than 95 per cent students are job seekers either in national, Indian or international markets. But only a few are willing to develop as a professional or an entrepreneur. Some MBA students have even established their own cooperatives and finance companies.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How does the management course bridge the gap between real life workplace and the lessons taught in classrooms?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We need good teaching-learning method to bridge the gap between classroom and the workplace. The environment in the class must be such as the students can begin working immediately after completing the education and can adapt to the work environment. Similar kind of pedagogy, customisation and workplace-friendly curriculum must be selected. Then, we need the curriculum in accordance to the business expectation. That will bridge the gap between the classroom and the workplace otherwise there will be a difference always. If we can not bridge this gap, organisations will have to invest a lot in training and development of the new recruits from the management stream. So, these days, management colleges are focussing on training for a banking career to MBAs as the banking and finance sector is our major job market. If the gap is to be bridged, we have to make the classroom workplace friendly and design the curriculum accordingly. We have that curriculum but if we also have the similar delivery we can minimise the gap.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How do you see the current trend of colleges being affiliated to foreign universities?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">If you look at it through competition and curriculum, our local universities are in forefront. If you compare the foreign university curriculum with Nepali counterparts, we have a much better curriculum. Nepali universities are already customised with local environment while Indian university cannot be customised. You have to run according to their curriculum. Our curriculum is customised according to our culture, system, economy, situation, need and expectation. That way our curriculum is excellent and those courses have not proven any threat to us. But that does not mean it is time to stay idle. The way foreign universities are coming, they have changed the teaching-learning method. Concept of dual faculty has been introduced in Indian university affiliated colleges. It is a challenging system. That will challenge us in the future. British, American and Indian universities are willing and are coming to Nepal. However, they are mostly offering distance education, so far. Till date, we have a strong curriculum and we are not facing any threat from universities.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Most of the leadership positions in the private sector banks and corporate houses are being held by MBA graduates from foreign universities. How do you react to this?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Companies must have found some difference in these foreign graduates. They must have certain unique personality and knowledge. But that knowledge, skill, efficiency will be transferred gradually to ours too. This will not be the same forever. In the days to come, Nepali MBA graduates can also do that. It is only a matter of time. It may take a few years or a few decades. India has a long history in management studies and MBA while we have just begun teaching MBA. Such things are not negative. We can learn from them and analyse what we lack and what special they have got. Students must self actualise and they can develop themselves accordingly.</span></div>',
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		'Article' => array(
			'id' => '470',
			'article_category_id' => '40',
			'title' => ''Corporate EntitiesKnow The Importanceof Having MBAs' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><img align="right" alt="" border="0" height="192" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/dr bijay kc.jpg" style="width: 159px; height: 192px;" vspace="10" width="159" /></span></p>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><b>Dr Bijay KC</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Faculty Prof and Dean</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">South Asian Institute of Management (SAIM)</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal? How do you think itâ€™s going to shape up in the foreseeable future?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">I have been quite satisfied with the way things are. A good number of management schools have come up in recent years because there is a huge demand for management graduates in the job market. However, I must admit that we must adapt ourselves to the fast changing scenario of business education. The schools should also become receptive to the needs of the business enterprises because ultimately itâ€™s they who are going to provide employment to the students graduating from these schools. I also feel that the government should take an initiative to come up with a new university that will specialise in management studies. At the same time, such a university should permit only such schools and colleges that have proven themselves in the field of management education. Another important aspect is that the faculty of business schools must have a say in matters related to examinations and quality control because they best understand the needs of the students.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Is the Nepali business schoolsâ€™ curriculum well prepared to meet the demands created by globalisation? What is SAIMâ€™s curriculum targeted at â€“ producing job seekers or job creators?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We, at SAIM, offer a programme called MBA Global Business in affiliation with Pokhara University which, fundamentally, exposes our students to global management practices. We do have some courses on entrepreneurship which are targeted at developing job creators of the future but a majority of the students prefer to join different sectors as professionals. As for a job creator, an entrepreneur must also have some knowledge on marketing, finance and resource etc. But I do realise that to make our programme more entrepreneurship-oriented, we need to have more courses included in the curriculum by our parent university.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Could you tell us about the teaching methodology at SAIM? Are the students forced to study foreign cases primarily because there is a dearth of home-grown cases?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Yes, we mostly use foreign case studies and I see no harm in using those. These cases are actually very good and a management educationâ€™s basic purpose is to develop the skills of the students. We do have a few good home-grown cases which we use. You must understand here that good case studies are hard to come by and writing them is not an easy job.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Some corporate houses are sponsoring their fresh employees to study in foreign colleges. Do you think there is a lack of trust, on their part, in the quality of our colleges and curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">I think more than anything else it is to make their employees gain further knowledge and equip them better. If they didnâ€™t have faith in the quality of education we offer, they wouldnâ€™t hire them in the first place. My feeling is that management education is a lifelong asset for the students. Getting an MBA degree does not mean that the students know everything about management. My recommendation to the corporate houses is that after three-four years of work experience, they should look at sending these students for further studies abroad.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">A lot of students are going abroad to pursue management degrees? Why are the local colleges not able to retain them here?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The fact of the matter is that, now-a-days, a lot of Nepali students want to pursue management degrees. Itâ€™s a classic case of demand overwhelming supply as the number of seats available in Nepalâ€™s business schools is not adequate to accommodate all these management degree aspirants. We understand that there is a need for more business schools and more seats. At the same time, we cannot afford to compromise on quality. Among the many business schools operating in Nepal, there are only about four or five of them providing quality education. This limited number of colleges can accommodate around 200 students at best. Itâ€™s but obvious that a lot of students not finding a seat in these colleges will look to go abroad. Besides, some good students may get admission to world renowned business schools like IIM or Harvard, for example. In such cases, we cannot be unfair and ask them to stay back in the country for our own selfish reasons.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How suitable is your curriculum for the typical business environment of Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The basic concept of management education is the same around the world. For example, a course on inventory management is same whether in the US or here in Nepal. A lot of cases provide a wider perspective of problems therefore; we look at applying them in the context of Nepal. In some cases, we have to resort to modification to suit the business needs locally.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Why do you think there is tremendous attraction to business studies these days?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is because of the job opportunities available to management graduates in recent times. In the last decade-and-a-half or so, corporate entities have realised the importance of having them in their ranks. It has become relatively easier for MBA graduates to start professional careers based on their education. Besides, these graduates have performed and proved themselves at their respective workplaces which have compelled companies to hire suitably qualified management graduates. So, job opportunities coupled with career enhancement prospects have been instrumental in attracting scores of students towards business studies of late.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Do you think MBA graduates from Nepali business schools are paid lower than they deserve?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As far as remuneration is concerned, it basically differs from company to company. From the companiesâ€™ perspective, if they want to have bright students working for them, they must be prepared to pay handsomely to attract them. What also matters is an individualâ€™s ability, he/she must be prepared to perform and prove his/her worthiness to command better remuneration. Having an MBA does not automatically guarantee an excellent pay. I am sure even if some students may begin their careers by agreeing to work for a package that is less than their expectation levels, they can always prove themselves first and then demand a better pay package.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Tell us the way you go about campus recruitment at SAIM.</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">At the end of the two-year programme, we prepare profiles highlighting academic background and credentials of all students that are passing out and distribute the profiles among the interested companies. A lot of these companies evince interest in particular individuals so we act as a link between the two. Itâ€™s both established companies as well as upcoming ventures that hire our graduates.</span></div>',
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '488',
			'article_category_id' => '57',
			'title' => 'UFO: Pay Less Expect More October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;">One of the vehicles imported and marketed in Nepal by Constant Business Group is UFO. It is an SUV manufactured by Chinese automobile company Jonway. Though the vehicle is made in China, it makes use of Mitsubishi engine and gearbox. The company has targeted the vehicle to those who want to switch from a sedan or a hatchback to a SUV. According to the company, UFO is very affordable and gives more value for money.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The 2011 model looks modern and stylish that is sure to get attention with its unique and fashionable outlook and its price-performance ratio. The crystal headlights look brilliant and have very powerful illumination that greatly improves driving safety at night. The beautifully designed LED taillights also correspond to the headlights. The integrated design makes the body look more stylish.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The inside of the vehicle is very roomy, a wide cabin that allows freedom. The five-seater vehicle has manually adjustable seats for extra comfort and also has ample storage area. There are features like power mirrors, keyless entry system, reverse sensor and power windows. The vehicle is also equipped with dual airbags, a powerful air-conditioner, front and rear fog lamps, power steering and steering audio controls.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The latest Mitsubishi engine has excellent power performance and provides stable and smooth acceleration. The 1.6 liter 4G18S engine produces a maximum power of 74.2 KW at 6000 rpm and a maximum torque of 134 Nm at 4500 rpm. The vehicle can attain a maximum speed of 150 km per hour. The vehicle has a 5-speed manual transmission that provides quick and smooth shifting while maintaining the stability at the same time.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">UFO is equipped with disc brakes on all four wheels that can resist higher temperature and have more reliable stopping power so that the vehicle functions safely. The body of the car is designed is such a way that it can effectively absorb energy of a collision and disperse it throughout the frame to every part of the body. This prevents the deformation of the cabin at the event of collision and protects the driver and passengers.&nbsp;ABS is also incorporated in the vehicle to add to the safety.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The company claims that the vehicle gives a mileage of 12-14 km/l in the city and 16 to 18 km/l on the highways. The company has already sold 96 units of UFO. UFO, with all these features can be yours at a very affordable price of Rs 2,825,000. The company is giving out a warranty of 2 years or 35,000 kms, whichever is earlier.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2013-05-24',
			'keywords' => '',
			'description' => 'One of the vehicles imported and marketed in Nepal by Constant Business Group is UFO. It is an SUV manufactured by Chinese automobile company Jonway....',
			'sortorder' => '397',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 1 => array(
		'Article' => array(
			'id' => '486',
			'article_category_id' => '50',
			'title' => 'Business Of B-Schools October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><img align="left" alt="Business - B" border="1" height="346" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/feed.jpg" style="width: 256px; height: 346px;margin:10px;padding:10px;" vspace="10" width="256" />It is good news that management education is flourishing in Nepal. In last one and a half decades, after Kathmandu University launched its MBA, a lot of management colleges have started offering management degrees. A lot of them have been successful in their mission and produced quality human resources. However, prominent positions in Nepali corporate houses are dominated by foreign university graduates. This somewhere underlines that our graduates are not as good as those coming from foreign colleges or at least the employers have this perception.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">The teaching-learning methodology and the educational environment in Nepal are much criticised by the teachers of management colleges. They are the ones who are responsible to improvise new methodologies to meet the kind of current demand and need. It will be better if they can implement the best practices of foreign universities. However, the trend is gradually shifting lately in new management colleges. In most colleges, though they claim modern methodology is being used, the teaching is limited to lectures only. The quality of teachers can be questioned after their failure to revolutionise the classroom. On the other hand, students are not much prepared for modern day classroom activities. They have been passive learners since their schools days and most of them do not have any work experience as they are straight out of the undergraduate colleges.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Teachers are treating teaching merely as a job, forgetting their professional ethics and responsibilities. They reach almost half a dozen colleges every morning to teach. They completely lack self-study and research practices. Though professors are expected to engage in research activities, only a handful of them are pondering over research and innovations. In some cases, teachers are unable to answer the queries raised by students.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">So, only the course material will not do miracles until delivery of it is revolutionised. For that, teachers will have to be competent and business schools should rise above their profit motive and realise the responsibility to improve the quality of education. Business schools should not be established only for business but also to meet the demand of the evolutionary business environment.<br />
	<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Rohit Shrestha</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>New Baneshwor, Kathmandu</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<hr />
<h3 style="color: blue;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Telephone Boom</span></span></h3>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Lately, Nepal's telecommunication market has grown tremendously. Almost 50 per cent of the population now have access to telecommunication services though largely dominated by GSM mobile telephone. Now rural areas are being slowly covered by the network of either NTC or Ncell or rural telecom operators.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Constantly declining cost of services and communication devices has attracted a lot of new consumers. Compared to the mobile telephone service, Internet has still not reached a substantial number of people. Users of Internet are largely concentrated on urban centres. However, the services like 3G and GPRS/EDGE has gathered huge number of mobile Internet users. With the advent of smartphones, trend of using Internet on mobile is growing both nationally and internationally.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Still, a large chunk of population i.e. around 50 per cent population does not directly have access to such services. But this population includes children and those who use telecommunication indirectly from home telephone or use devices of family members and friends. This is the market segment everyone is trying to tap both network operators and handset makers. If their marketing strategy succeeds, the number of consumers is certain to increase. Looking at the growth trend and usage pattern, it is certain that more Nepali people will have greater access to telecom and Internet services in the future.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Prativa Panthi</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>Pokhara</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<hr />
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<h3 style="color: blue;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Workplace Harassment</span></span></h3>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Workplace harassment - either in psychological or physical form - is reported in all organisations. . Most common harassment is sexual as established by various studies. In many cases the complaint against harassment is resolved within the company while some cases reach the court. In Nepal's case, they rarely reach the courts though there is legal provision for this. Most often, such problems are solved within the organisation and common disciplinary action is firing the accused. Experts say this is not the best action as such provision encourages employees to take advantage of the system. Any workplace harassment must be discouraged at any cost and strong actions must be taken by the organisation as well as such cases should be taken to the courts. Employee's behaviour and preferences must be well understood while dealing with them as someone might feel harassed by similar approach while for others it could be completely normal. Companies must be careful to avoid such harassments at the workplace and should take more care while hiring new employees. Along with the company, employees themselves have to maintain a discipline that makes the working environment safe and healthy.<br />
	<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Purna Bogati</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>Bhaktapur</b></span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-31',
			'keywords' => '',
			'description' => 'It is good news that management education is flourishing in Nepal. In last one and a half decades, after Kathmandu University launched its MBA, a lot of............',
			'sortorder' => '396',
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	),
	(int) 2 => array(
		'Article' => array(
			'id' => '485',
			'article_category_id' => '52',
			'title' => 'The Financial Policing October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The central bank, Nepal Rastra Bank (NRB) has recently indicated that it would tighten the grip on the financial criminals not only by introducing more effective regulation and supervision policies, but also by acting as the enforcer of these policies.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	The NRB has chosen to take up the role of arresting the financial criminals in direct co-work with police.&nbsp;Instead of earlier arrangement of going through the Ministry of Finance (MoF) with a suspect lists and the line ministries passing out buck from MoF to Home Ministry, from Home Ministry to District Administrative offices and then to the District Police, this NRB initiative would surely shorten the process of apprehending the absconded ones. It is reported that the MoF has given consent to NRB to directly deal with the police to initiate the process of arrests. Similarly, NRB is also reportedly formulating a policy to liquidate those financial institutions whose promoters or executives remain absconded for long.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<img align="right" alt="" border="2" height="397" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/edit.jpg" vspace="5" width="350" />In light of the growing incidents of abscondence of the promoters and executives of some development banks and finance companies, the NRB move appears a welcome one.&nbsp;It is also true that in Nepal among all the criminals, the financial ones largely remain scot free by using every possible influence including, may be, money.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	Such NRB activism also seems convincing vis-a-vis the central bank's responsibility of maintaining financial system stability in the country. But the core question here is: will these moves actually contribute the promotion of corporate governance in this sector? And, do these schemes fit in the concept of â€˜slim and smart central bank focused on its core functions?</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	Unquestionably, the criminals must be brought to book and justice delivered. But NRB initiating the legal process on its own will have several other ramifications. First, it must have a stronger and larger legal department. Second, the government dealing directly with the law-enforcing agencies is always more effective. And, third, as the experiences have it, the problem in apprehending the allegeds lies largely in the police functioning. At that crucial point, NRB move may falter. NRB cannot be expected to be able to change the attitude and modus operandi of the police.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Also the very idea of liquidating the entire institution just because a fraudulent person, who happened to be a decision maker, remained at large is not at all justifiable. One of the cardinal responsibilities of the NRB is to protect the depositors interest first, which in turn, facilitates the system stability. If any promoter or executive flees away, the moral responsibility should also be taken by the NRB as well. And, as the regulator, the decision of liquidating the financial institutions must be based on the financial health of the institution and its future viability. Let's not forget that there is a specialised legal mechanism already in place to deal with corporate liquidation/bankruptcy. The clients have made no mistake by doing business with the NRB licensed and supposedly supervised companies and they must not suffer for the fault of somebody else.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	The NRB must understand that it can neither escape from its responsibility of maintaining the financial stability by enhanced regulation and supervision nor should it be turned into a police like organisation.</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-31',
			'keywords' => '',
			'description' => 'The central bank, Nepal Rastra Bank (NRB) has recently indicated that it would tighten the grip on the financial criminals not only by introducing more effective..........',
			'sortorder' => '395',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'main_news' => false,
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	(int) 3 => array(
		'Article' => array(
			'id' => '483',
			'article_category_id' => '41',
			'title' => 'A Walk Through Central Depository System',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="sectorial" border="1" height="128" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/homnath gaire.jpg" style="margin:10px;padding:10px;" vspace="5" width="100" />By <strong><u>Homnath Gaire<br />
		<br />
		</u></strong></span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size:12px;">In a nut shell, Central Depository System (CDS) is an electronic book entry system to record and maintain securities and to register their transfer. In CDS, ownership will be changed without physical movements of securities or execution of transfer deeds. The ownership will be transferred as soon as securities move from one account to another. CDS is purely a settlement vehicle and will not affect the trading in any manner whatsoever. It is expected that the CDS will bring tremendous efficiency and growth in the capital market of Nepal. It will also enhance the image of Nepal's capital market globally. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Participants of CDS:Account Holders<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Account holders are divided into two categories - account holders and participants. Both account holders and participants will have direct access to the CDS. Account holders will be allowed to have a main account and a house account for their beneficially owned securities. Participants, however, will be entitled to have client accounting facilities within the CDS. In addition to main account and house account, participants will be allowed to have sub accounts and group client accounts. In short, the participants can provide custody services to their clients whereas account holders can keep only their beneficially owned securities in CDS.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><img align="right" alt="sectoral" border="1" height="350" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(7).jpg" style="margin:10px;padding:10px;" vspace="5" width="252" />"Beneficial Owner" means the person who have opened their Beneficial Owner Account with Central Depository Company for depositing their securities or instruments and who have held the securities and instruments which are capable of being deposited in de-mat form.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">All the members of stock exchanges, banks (both commercial and investment), and development financial institutions (DFIs) are allowed to open their account as participants whereas corporate bodies such as leasing companies, investment companies and insurance companies can open their account as account holders.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Issuers/Registrars<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The issuers of capital whose securities are converted from physical to electronic book entry system play a significant role in CDS. They will also have direct access to the CDS. After a security is declared eligible for the purpose of CDS, necessary software is provided to that particular issuer upon signing the issuer's agreement with central depository company (CDC). The shares are entered into CDS only after proper verification by these issuers or their registrar. This process eliminates the problem of fake/duplicate/lost/stolen share certificates as issuers thoroughly check them before approving for CDS.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Eligible Pledge<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Financial institutions that lend against securities will have their account with CDS in the capacity of eligible pledges. These institutions will also have direct access to CDS and will be provided with necessary connection in this regard upon signing the pledge agreement with CDC. Their clients will be able to pledge their electronic book based securities in CDS. Once the securities are pledged in the CDS, the control over those securities is transferred to the eligible pledgee in the form of pledge release/call. Nevertheless, the beneficial owner will continue to get the benefits of corporate action on pledged securities.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong><img align="left" alt="sectoral" border="1" height="228" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img1(4).jpg" style="margin:10px;padding:10px;" vspace="5" width="350" />CDS Account Structure:<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The account holders of CDC will be able to settle their transactions within the CDS through five types of accounts, namely:<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Main Account:</b> Each account holder in the system will be allocated a main account by virtue of being an account holder in the CDS. This account will mainly be used as a transit account for movement of securities. Any security coming in or moving out of an account holder's family of accounts will pass through this account.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>House Account:</b> Used for securities owned beneficially by account holders. "Beneficial Owner Account" means De-mat Account (electronic account) opened with Central Depository Company through Depository Participant in order to deposit securities by the Beneficial Owner and which is distinguished by a unique account number.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Sub-account (Client Account):</b> This account is used for keeping securities belonging individually to each of the clients of an account holder. An account holder may open and maintain any number of sub-accounts he requires on behalf of his clients.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Group Client Account:</b> This account is used for keeping securities which are beneficially owned by the account holder's client. It will be used for clients who are not willing to utilize the facility of opening separate sub-accounts. The account holder will group all such clients in his/her group account. The detailed break-up of the securities held by each client of a group account will be held by the account holder and no such record will be maintained by CDC. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Cash Account: </b>Each account holder in the system who opts to avail the Delivery vs Payment (DVP) facility will be required to deposit relevant amount to be used for the settlement of DVP obligations.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">CDS-Operation<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b><img align="right" alt="" border="2" height="335" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img2(4).jpg" vspace="5" width="350" />The main operations performed in the CDS are as follows:<br />
	<br />
	</b></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Deposit of existing and new securities in the CDS. Once a security is declared eligible by CDC, the physical certificates of that security will be deposited in the CDS for conversion after which they will be available for further transfers within the system. Following is the procedure to deposit securities in the CDS:</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">To begin with account holder will initiate the deposit request by entering the details of share certificates into the system, and securities deposit form (SDF). CDS will generate computer printouts of the transaction. Transfer deed will be executed in favor of CDC. Account holder will then send the relevant share certificates, transfer deeds, SDF and the computer printouts to the relevant registrar. The registrar after verification will either approve or reject the transaction within five days from the receipt of the documents. Registrar will update CDC nominee share holding in the member's register, cancel share certificates and transfer deeds, and return the relevant documents (other then canceled share certificates and transfer deeds) to applicant account holder.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Withdrawal of securities <br />
	from the CDS:<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The account holder will initiate the withdrawal request by entering the relevant details into the system, and securities withdrawal form (SWF). CDS will generate computer printouts of the transaction. Account holder will then send the SWF and the computer printouts to the relevant registrar.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The registrar after verification of the balance will either approve or reject the transaction within five days from the receipt of the documents and update CDC nominee share holding in the member's register. Registrar will return the relevant documents and share certificates to the applicant.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Prepare share certificate (Jumbo certificate): <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Free Transfer -</b> Book entry transfer of securities without any associated cash movement. This is a unilateral transaction in which an account holder can deliver securities to any other account holder in CDS. Although the beneficial ownership of securities changes as securities move from one account to another, there is no stamp duty involved and the transfer is on the spot.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Pledge/Release/Call -</b> Pledging securities in favor of a lender which can only be released or called by the lender. This function will greatly benefit the financial institutions by reducing risk of fake share certificates and paperwork to a great extent. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Stock Borrowing or Lending through the CDS: <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Corporate Action - </b>In case of bonus issues, rights issues, sub-division, consolidation and any other action that changes the number of securities held in a participant's account or involves the determination of entitlement to beneficial owners, CDC shall provide relevant details of account holders and sub-account holders to the issuer. The CDC will also provide details for the purpose of notice of general meetings and other notices/communications.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Delivery Versus Payment (DVP) - </b>DVP is a bilateral transaction or book entry transfer of ownership of a security in exchange for payment to settle a transaction. The deliverer of the securities will initiate the DVP request on CDS specifying the details of securities and payment.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Upon acceptance of the receiver, CDS will debit deliverer's securities account and credit receiver's securities account. Likewise, CDS will debit receiver's cash account and credit deliverer's cash account. Cash only moves from one account to another without any associated securities movement. </span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-17',
			'keywords' => '',
			'description' => 'In a nut shell, Central Depository System (CDS) is an electronic book entry system to record and maintain securities and to register their transfer. In CDS, ownership......',
			'sortorder' => '393',
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	(int) 4 => array(
		'Article' => array(
			'id' => '480',
			'article_category_id' => '57',
			'title' => 'Brand Nepal In NTY 2011 October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<strong><span style="font-size: 14px;"><img align="left" alt="" border="1" height="182" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sajag karki.jpg" style="width: 141px; height: 182px;margin:10px;padding:10px;" vspace="10" width="141" />By Sajag Karki</span></strong></div>
	<div style="text-align: justify;">
		<span style="font-size: 14px;"><br />
		</span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Naturally Nepal is the tagline used by Nepal Tourism Board (NTB) to promote Nepal Tourism Year 2011 (NTY). It is hard to say whether a mere tagline with hardly any promotional activities can fulfill its ambitious plan of attracting one million foreign tourists to the country this year. Though the year opened with a bang with the campaign's promotion and big commitments made by its stakeholders, all the fizz surrounding the announcement of NTY has come to an end with less than four months remaining of the year. The campaign took off quite well but vanished in thin air. It would have been an excellent branding opportunity for Nepal and positioned it as an ultimate destination for various tourism activities such as adventure, culture, spiritual, religious and wildlife. Sadly, this has not been the case. Instead of tourists flowing to major destinations of Nepal, it seems that neither the tourists nor the tourism sector have benefited significantly by the government's so-called plan to take tourism sector to greater heights by observing NTY 2011.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is quite sad that a campaign initiated by the government falls flat when it comes to implementation. A tourism year is supposed to be full of promotional activities but there has not been a single TV commercial (TVC) created for its advertising which is very surprising. How are potential tourists supposed to know about the various destinations and activities in Nepal? Every country and place has its own specialty such as Egypt has pyramids, Thailand has lovely beaches, Italy has romantic destinations, and so on. Similarly, Nepal specializes in picturesque natural beauty, cultural richness along with ethnic and bio-diversities that can make tourists spellbound alluring them to visit Nepal again and again.&nbsp;&nbsp; </span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="brand" border="1" height="170" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/nty(2).jpg" style="width: 289px; height: 170px;margin:10px;padding:10px;" vspace="10" width="289" />Nepal can learn from other Asian countries like neighboring India, Malaysia, Singapore and Thailand that have focused a lot on country's branding and have offered visitors with various attractive packages. They have communicated their country's story via various promotion channels and have created a niche of their own. Some popular promotions include Malaysia â€œTruly Asiaâ€, Amazing Thailand etc that are being broadcast on major TV channels. India has gone even further with state branding to encourage the tourism flow to their respective states such as Rajasthan, Uttarakhand, Kerala, Gujarat, Orissa etc. Massive promotion budget has been spent with big celebrities such as Amitabh Bachchan being brand ambassador of Gujarat Tourism. Similarly, Nepal needs to narrate an anecdote of its own to let interested ones know about this beautiful country. The rich cultural heritage, the spirit of the Himalayas and the adventure tourism aspect can all be elements of the Nepal's tourism story. Even better would be branding for specific destinations such as Pokhara and Chitwan, positioning each differently to cater to the needs of tourists of all demographics. Pokhara can be promoted as the happening place with natural beauty, adventure sports such as paragliding and salubrious environment to rejuvenate and relax. Similarly, Chitwan can attract tourists for its wildlife resort, elephant safari, camel rides and Tharu ethnical cultural shows.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It can be said that Nepal hasn't exploited its tourism potential and more importantly has not been promoted the right way. Promotion activities can be done targeting each segment of tourists by highlighting the attributes of the various exciting places of Nepal. In addition, NTY could further boost sales as special privileges could be given during this campaign. Further benefits should be given to tourists who wish to visit in the year 2011. Discount of hotel reservations, special packages on airfare and accommodation along with some freebies will no doubt attract numerous visitors. Moverover, the benefit of visiting Nepal this year as compared to other years should be communicated clearly or else it will just be like any other ordinary year. </span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Though some efforts have been made by the private sector, this miniscule yet encouraging act must be backed up by robust government spending as it can, apparently, generate revenue for the nation. The promotion should be done on a government level not only by the private organizations. Despite various political, economical and financial barriers faced by the country, there is still enormous scope for a naturally gifted place like ours to excel in the tourism sector. The opening ceremony of NTY was marked with huge enthusiasm and support from all sectors as even political parties vowed not to organize bandhs as it would have an adverse effect on the tourism campaign. Despite all the bottlenecks, there is still hope to revive the economy through branding of the Nation-Nepal as a visitors paradise. Being a Nepali citizen it is also our responsibility to encourage domestic tourism and spread good word about it to the world. Let's celebrate the spirit of NTY 2011!!!</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;"><br />
	</span></strong></div>
<div>
	<div style="text-align: justify;">
		<strong><span style="font-size: 14px;">(Karki is currently associated with JWT (Thompson Nepal). The article is based on research and author's practical experience as a marketing professional. He can be reached at sajag_karki@hotmail.com)</span></strong></div>
</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-11-01',
			'keywords' => '',
			'description' => 'Naturally Nepalis the tagline used by Nepal Tourism Board (NTB) to promote Nepal Tourism Year 2011 (NTY). It is hard to say whether a mere tagline with hardly.......',
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	(int) 5 => array(
		'Article' => array(
			'id' => '479',
			'article_category_id' => '42',
			'title' => 'Waiting For 350(October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<h3 style="color: blue;">
	<span style="color:#800000;"><span style="font-size: 12px;">(Nepal Stock Market Review for 22 Aug â€“ 20 September, 2011)</span></span></h3>
<p>
	<span style="color:#800000;"><br />
	</span></p>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>By Bikram Chitrakar<br />
		<br />
		<br />
		</strong></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">The Nepse Index needs to cross 350 to inspire the investors, shows this analysis. With Nepse Index continuously sliding down, the month striding over August-September period was a month of decline in the Nepali bourse. This was in spite of healthy earnings reports and dividend declaration by the companies. The entry of Maoists as the leader of the government helped in sending the mood in the exchange down because of lack of clarity about the policy of the new government. The benchmark Nepse index plummeted 29.76 points or 9.30 per cent to respite at 320.08 during 22 August-20 September. While the highest points for the period was on 22 August with 349.84 and the lowest was on 19 September with 317.70. <br />
		<br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Investors were unsatisfied with the rate of dividend declared by different financial institutions as the proposed dividend could not meet the expectations of the investors. Dividend proposed by Standard Chartered Bank is 50 per cent (cash) while that of Nabil is 30 per cent (cash) only. Both missed the expectation of the investors.<br />
		<br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" height="265" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock.jpg" style="width: 426px; height: 265px;margin:10px;padding:10px;" vspace="5" width="426" />However, the investors have not lost all the hopes as yet because the process to improve the regulatory environment is still going ahead. The Securities Board of Nepal (SEBON) has granted license to Central Depository System and Clearing Ltd as per CDS regulation 2067. Now it is expected to start operation after the Dashain festivals are over. Similarly, the newly licensed 16 stock brokers also started transactions. With this the number of stock brokers has increase to 39, providing the investors expanded opportunity to choose their broker. </span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock1.jpg" style="margin:10px;padding:10px;" vspace="5" />Another noteworthy event of the month was the Money Expo organized jointly by Aarthik Abhiyan and Jamb Technologies with Minds Nepal and Morningstar Investment Services Pvt. The 3-day event called "NDEX Money Expo 2011" concluded on September 14 is believed to have helped to promote investment opportunities and tools. Experts from both India and Nepal participated in various discussion programs held during the Expo on topics related to the economy, stock market, commodity market, central depository system, investment banking and so on. In one of the programme, Tanka Prasad Paneru, chairperson of Nepal Stock Exchange opined that the Nepali stock market on that week was in a correction phase and it will gallop after crossing that level.&nbsp;</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>Performance by Sector</strong></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" height="267" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock2.jpg" style="margin:10px;padding:10px;" vspace="5" width="400" />Commercial banking sector holding the heavy share of trade volume in Nepal Stock Exchange dived down 44.32 points or 16.24 per cent to settle at 272.95 during the review period. Insurance sub-index lost 20.75 points to come down at 398.73. Similarly, hydropower sector descended 18.14 points along with 15.80 points decline in finance sector to arrive at 549.23 and 276.24 respectively. Others sector plummeted 8.23 points or 1.74 per cent to close at 472.34 while development bank group ebbed out 5.97 points to rest at 279.92. However manufacturing sector added 20.24 points or 3.33 per cent to reach 607.47 while trading sector gained 4.11 points to rest at 246.08.</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Sensitive index that measures the performance of 117 blue chips scrip at secondary market lost 8.73 points or 11.19 per cent to reach 78.01 while the float index calculated on the basis of real transaction skid 3.31 points to arrive at 26.38. Total of Rs. 493769430 was realized during review period from 2279903 units of share trade via 25195 transactions.</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">The accompanying figure demonstrates the sector-wise distribution based on total amount of trade. Banking sector accounted for 58.87 per cent of total trade followed by development bank sector (13.49 per cent) and finance sector (8.10 per cent). The rest was accounted by the remaining sectors. </span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Technically, Simple Moving Average (SMA) is shabby in both long term and short term. Both 30 days SMA and 200 days SMA are dominating the market with no clue of further correction shortly. Breaching the level of 350 is required for acceleration.<br />
		<br />
		<strong><br />
		</strong></span></div>
	<div style="text-align: justify;">
		<strong><span style="font-size:12px;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)<br />
		<br />
		<br />
		</span></strong></div>
</div>',
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			'created' => '2011-10-11',
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			'keywords' => '',
			'description' => 'The Nepse Index needs to cross 350 to inspire the investors, shows this analysis. With Nepse Index continuously sliding down, the month striding over August-............',
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	(int) 6 => array(
		'Article' => array(
			'id' => '478',
			'article_category_id' => '48',
			'title' => 'Nepal In 10 Years (October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<strong><img align="left" alt="nolaughingmatter" border="1" height="173" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3(3).jpg" style="width: 143px; height: 173px;margin:10px;padding:10px;" vspace="5" width="143" />By Madan Lamsal</strong></div>
	<div style="text-align: justify;">
		<strong><br />
		</strong></div>
</div>
<div style="text-align: justify;">
	Where will Nepal be in 10 years? Many may imagine that in next ten years, Nepal will also become like Afghanistan or Somalia where no good people can stay. But I feel otherwise. In 10 years, Nepal will be at par to fully developed countries and livable like a heaven. At least the words and actions of Nepal's business community, government and the main political leaders clearly indicate to that.</div>
<div style="text-align: justify;">
	<br />
	In recent years, many of Nepali entrepreneurs have proved themselves very innovative in businesses by selling sweets to cereals and setting-up restaurants to bottling water plants. Nepal's private sector has shown a true entrepreneurial spirit.&nbsp;They know how to exploit the ignorance of common people by taking advantage of true free market of Nepal, regulated by none but only Lord Pashupatinath.</div>
<div style="text-align: justify;">
	<br />
	<br />
	The foreigners must be watching all these developments with very keen interest. Therefore, within 10 years Nepal will receive thousands of foreign direct investments (FDI). Because, foreign investors have already seen that there is almost zero FDI in this country except few Indian joint ventures companies struggling here to breathe. Therefore, it is a virgin land for them to invest. Foreigners may have also observed that Nepali workers have been working in foreign countries with paltry salary and they are so loyal there. If these very Nepalis are given jobs in their homeland they will definitely be happier and more loyal to the FDIs. Moreover, the new Finance Minister, who <img align="left" alt="nolaughingmatter" border="1" height="414" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-no laugh.jpg" style="margin:10px;padding:10px;" vspace="10" width="350" />is said to be the man with action or man with a gun, has already said that year 2012 will be the ' Year for Investment '.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	In 10 years Nepal plans to attract more than 20 million tourists a year. Because two years ago Prachanda, the then PM of the Maoist government had announced that Nepal will receive 2 million tourists in 10 years time. Again Maoist is in the power now. So we can definitely hope that they will force many tourists to visit Nepal. They will visit Nepal as well as they do to Vietnam or Russia to see the truly endangered disciples of Lenin and Che Guevara. Tourists will not visit Nepal only to see mountains or for trekking but to get hold of the rarest sights like the YCL camps at factories and to see their commandos' street gang-fights.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	In a decade, Nepal will produce at least 20,000 megawatt electricity not from the hydropower but from road garbage, wind and cow dung, etc. The impact will be such that Nepal will no more need to import petroleum. By then power consumption will increase so much that export of electricity will be obsolete issue. India, who has been waiting for Nepal's electricity for her industrial growth will be bewildered. The pipeline for petroleum that has been laid out from Lhasa to Khasa of China will be useless. Rather, Nepal will earn a lot of money from the carbon trading because of zero consumption of petroleum products.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	Many foreigners from American to Europeans and from Japanese to Singaporeans will apply for working visa here as many of them want to work in the developed Nepal in 10 years time. So there will be a huge problem of illegal foreign workers. So the main task of almost all foreign diplomats' in Nepal will be to seek an appointment with Nepali leaders to rescue their citizens from different illegal indulgences.</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Where will Nepal be in 10 years? Many may imagine that in next ten years, Nepal will also become like Afghanistan or Somalia where no good people can stay...............',
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	(int) 7 => array(
		'Article' => array(
			'id' => '477',
			'article_category_id' => '46',
			'title' => 'Pasi Koistinen',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><strong><br />
	</strong></span></p>
<p>
	<span style="font-size:14px;"><strong>We Want To Make Mobile Telephony More Affordable</strong></span></p>
<p>
	 </p>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Pasi Koistinen </strong>is the President and CEO of Ncell Private Limited, which became the largest telecomoperator in Nepal some months back overtaking the state-owned Nepal Telecom. The company reached the figure of six million customers recently. Ncell, the first private telecom operator of Nepal was rebranded to its current name in 2010. Nordic telecom giant TeliaSonera has a large stake in the company. Koistinen joined TeliaSonera as a Director in 1998 and took up the position of Ncell CEO in May 2009. He has also served in top managerial level in diverse fields like hospitality business, advertising agencies and telecom service in countries like Finland, Singapore and China. In an interview with Gaurav Aryal of New Business Age, Koistinen shares his views on Ncell's growth, Nepal's telecommunication market and a whole lot of other issues. Excerpts: <img align="right" alt="Ncell" border="2" height="279" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview_pic2.jpg" style="margin:10px; padding:10px;" vspace="10" width="180" /></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Ncell's customer base has crossed six million. How sustainable is this rapid growth in the number of customers? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We have reached six million customers but the penetration is still low in Nepal. We are talking probably somewhere in the region of 50 per cent, meaning that only half of the population have mobile phone connectivity. So, there is still a huge potential. We are expecting the same kind of growth in the future as well because we believe that people need mobile phones. We have experienced rapid growth in the last two years and increased the customer base by three million within a year. So, mathematically speaking, we should have nine million customers after a year if everything goes as expected. The growth is sustainable because every customer we get into the system is generating revenue. The most important aspect is that our customers are happy with us. Therefore, we plan to continue investing in our operations. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>At the time of rebranding, Ncell had only about 2.2 million customers. It has taken a giant leap since, in terms of customer base, coverage and brand name. What is the secret of this huge success? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Rebranding was like a new promise not only for our customers but also for our company and the employees to increase the overall customer service level. So, we decided to invest heavily in the network and subsequently, the rebranding exercise. We doubled the network before the rebranding to make sure that we have something to operate that is good quality network. When we started marketing the new brand, it was an entity of this whole package of services. Service, in our case, is very intangible in the sense that people call each other and there may be 100 million transactions each day. We have to guarantee that these transactions are successful because it's only then that people will come to us. I think this was a major reason for our huge success. Of course, rebranding was another very essential component of our success.<br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>With this tremendous growth, Ncell must be making a huge profi t now. How are you doing on revenue? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Well, it depends what you call a profit. We are not profitable yet if you talk about cash flow which is the main issue when talking about profitability. Revenues are good and we have gained a lot of market share during the last couple of years. But we have invested a lot on infrastructure as well so a big investment takes time to recover. We are spending three to five times more in infrastructure than in other TeliaSonera countries due to difficult terrain and climate. We have to remain humble towards our customers and give them good services and hope that results will follow in due time. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What kind of policies do you have to attract more customers especially from rural areas? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">As you must have seen, we have had a lot of campaigns in rural areas. We want to support the campaigns knowing well that not everybody in Nepal has the same amount of money. Therefore, we have had a lot of rural campaigns to make mobile telephony more affordable for everybody. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Though Ncell has sold more than six million SIM cards, it is said that a large number of SIM cards issued are not in operation. What is the actual number of your active mobile phone customers? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Active ratio varies, of course. Out of the over six million sim cards we are talking about, we know that some of them are not currently in operation. There are people who switch on their phones at certain times only for receiving calls because it does not cost anything for the receiver. The active ratio varies between 80 per cent to anywhere close to 100 per cent. For example, it was almost 100 per cent when we had the earthquake on 18 September. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Tell us about TeliaSonera's Nepal experience in comparison with other countries? </strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">TeliaSonera has been very happy about the investment in Nepal. We are already in number three position among all nine countries in terms of number of users. So, naturally TeliaSonera is very satisfied with what we have done here. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>How is the response to your smart phone service like Blackberry? <br />
		</strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We launched Blackberry because we wanted to make a difference and we are the only operator selling Blackberry in Nepal. We knew from other markets as well that Blackberry will become an essential service for the people who need to be connected while on the move and people who have enough money. In this respect, we are very happy about it. This is an exlusive service targeted at an affluent segment of the market. <br />
		<br />
		We also have Ncell Pro which is a very good approach. In the longer run, we are expecting it to be a great success because we combine the handsets and talk time, sim card, data package and sms package as one set that is easy to buy. But it takes time for people to realise the benefits of it. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>It is said that Ncell and NTC the two telecom giants have left no space for new telecom operators. Is it really that diffi cult for new comers to penetrate in the telecommunication market now? How many operators do you think this market can sustain? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Well, this is a free market and anybody can invest and operate here. However, we do not have many companies in Nepal who are ready to take the risk by investing first. TeliaSonera has a history of entering emerging markets early. Kazakhstan was among the emerging markets we entered soon after Soviet Union collapsed, in 1994. It takes time to build the kind of massive operations that we have so it's not an easy business. I personally believe that this market can sustain three operators. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><img align="left" alt="ncell" border="1" height="426" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview_pic1.jpg" style="width: 356px; height: 426px;margin:10px;padding:10px;" vspace="5" width="356" /></strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What is your take on the practice of squatting on the spectrum license? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We actually have enough spectrum allocated to us and so far we have paid for the spectrum and the license in full. We have also fulfilled all the requirements of the NTA concerning the licenses including the spectrum. On our part, we are clear and it's not for me to analyse about some other companies holding spectrum. NTA too has introduced a fee for companies not using the spectrum effectively enough. It has the provision to penalise them for the so called holding of frequencies. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What are your expectations from the regulatory authority for the improvement in quality of services along with this sectors growth and expansion? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Many things have been clear in the sense that we want to have a level playing field. Especially, when NTC is a government corporation, they do have the advantage of being in the country earlier than us. But the biggest issue is that they are not following NTA regulations. Let me give you an example. There is a rule that the congestion between the operators can be maximum 0.1 per cent meaning that one call out of 1000 can fail. Now, the situation is that for the past two-and-a-half years, I have been here and we have been talking about NTC not being able to give us enough capacity and units so that our subscribers can freely call the NTC network. During the peak hours, the congestion can be up to 60 per cent which is unfair. <br />
		<br />
		We had a very open discussion with NTC and NTA asking them to give us the space because we want to build a good telecom infrastructure company in this country. But, we are compelled to follow what someone else is doing. We don't want to be dependent on our competitors and want them to follow the regulations that are laid out. There is also the issue of cross subsidising, meaning, if you have an NTC mobile phone, you can call the NTC landline without any interconnection charge. However, in our case, we have to pay 52 paisa for every minute when our customers make calls to their network. This means that we cannot be price competitive with NTC on that level and this, of course, is a very wrong practice. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Some time ago, Ncell had commented that the authority was biased against the private telecom operators and especially Ncell. What was the biased treatment? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We are the biggest foreign investor in Nepal so we are requesting for equal treatment and equal level playing field. For examplem, for permission requirement, foreign exchange permission and license renewal fees should be equal for all operators which has not been the case so far. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>WiMAX and 4G spectrum are not issued by the authority yet. Why do you think they are rigid about it? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">To tell you the truth, 4G is essential. But it is not urgent because we are totally occupied building the 2G network. We have always seen that people are very keen on using wireless broadband. Our Ncell Connect became the number one ISP in the country within a period of eight or nine months which really proves that people are willing to have wireless internet connection. I don't believe in WiMAX at all as it is a very limited kind of technology with no handsets available and promises to be an expensive proposition. I really intend to request the government to concentrate on GSM because evolution such as the 4G will continue to take place. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Do you think 4G will be suitable for Nepal?</strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Sure, because it gives excellent speed for data surfing. Now with HSPA, we can go up to 3.6 mbps and with HSPA plus, we can go up over 7 mbps. For instance, when 4G was launched in Sweden, it brought huge improvement to data speed. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>How long will your aggressive marketing continue?</strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">I hope that we continue in the same manner forever. This is a continuous business and we have to give people value for money and time. Marketing is not only about marketing communication, but also about best customer experience. Marketing communication gives promises via billboards and advertisements. But we have to fulfill those promises with other aspects of the infrastructure - network, billing system, call centre, point of sales etc. Our aggressive marketing has reached us this far. So, we are more than happy to continue practicing it and hope that it pays us great dividends in the long run. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><br />
		</strong></span></span></p>
</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Pasi Koistinen is the President and CEO of Ncell Private Limited, which became the largest telecom
operator in Nepal some months back overtaking the state-owned Nepal Telecom. The company
reached the figure of six million customers recently. Ncell, the first private telecom operator of Nepal
was rebranded to its current name in 2010.',
			'sortorder' => '387',
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '476',
			'article_category_id' => '47',
			'title' => 'Flight Of An Aviator',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size:12px;"><b><img align="right" alt="gyanendra" border="2" height="329" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-personality.jpg" style="margin:10px;padding:10px;" vspace="10" width="350" />Gyanendra Bhakta Joshi</b></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Managing Director</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Swift Air</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Gyanendra Bhakta Joshi, Managing Director of Swift Air, is determined to touch the sky with his dream project. It is his passion for aircraft and tourism that drove Joshi to set up his own airline. He says he decided to venture into the airline sector to set a milestone in the aviation market.<br />
	<br />
	</span></div>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>By Gaurav Aryal<br />
		<br />
		</strong></span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Once on the day of Vijaya Dashami, Gyanendra Bhakta Joshi's elder brother blessed him that he would own an airline one day. While working with Skyline Airlines that is not in existence today, Joshi secretly wished he would have a company of his own. His dream got a new life after meeting Bishnu Prasad Khadgi, now his friend and business partner.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi is Managing Director (MD) of Swift Air Nepal Pvt Ltd, a newly established domestic airline. Swift Air is planning to commence its operations from October. He said that the company is bringing in two aircraft in first phase. Of these two, the first one is to arrive in October. Joshi, enthusiastic about making his dream project come alive, is spending day and night just to make sure that his dream is realised.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">It was in the alleys of Ason that Joshi wandered around as a child. Though his ancestors were from Bhaktapur, his grandfathers moved to Kathmandu. He went to St Xavier's School Godavary and later transferred to Ananda Kuti Vidyapeeth at Swayambhu, where he completed his schooling. He credits St Xavier's for making his academic base strong. Joshi graduated in Commerce from Shankar Dev Campus.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">His family had a hardware store at Ason. Joshi's father and grandfathers had dedicated their life entirely to business. But his uncles took to the service industry. Joshi followed their footsteps and landed in the tourism sector.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">He began his career from assistant level in Everest Express Tours and Travels around 25 years ago. That was my first job and I was paid Rs 400 a month, he recalls. In the following years, he worked in Pristine Travels, Tiger Tops Resort and even USAID. Then, I entered the aviation sector with Skyline Airlines in a managerial position, he shares his journey to the airlines business. He has even worked as Sales Manager with GMG Airlines of Bangladesh. I like this sector, so, now I am fully into it, says Joshi. He says his career in the tourism, travel and airlines helped him develop a passion for these areas. Joshi reveals, he is obsessed with aircraft and often visits websites of Boeing and Airbus to update himself with the latest developments and innovations. Now, I have my own aviation company because of that passion, he boasts. Joshi is proud that he has made his brother's blessings become a reality.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi counts Skyline's Executive Director Dorje Sherpa as his aviation guru. Whatever I have learned, I learned it from him. I express my gratitude to him for what I have become today, he acknowledges. The aviation know-how did not easily make him the MD of Swift Air. Joshi's hard work, dedication and struggles have paid off.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">It was three years back that Joshi had thought of setting up an airline and he even started working towards that. Unfortunately, it did not turn into reality. After one and a half years, he met Bishnu Prasad Khadgi who is now Executive Chairman of Swift Air. With one year of homework they received AOC (Air Operator's Certificate).&nbsp;Joshi's two sons who are living overseas are happy to know about their father's venture.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Khadgi is his only business partner now. Though they had targeted to fly from January 2011, they are now planning for an October launch. Cost is too heavy as it requires setting up offices in every destination. However, this also creates job opportunity in every destination we reach. I feel proud to give employment to more people, he says.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi says his company will have around 70 staff members in the beginning. According to Joshi, good incentives and listening to their complaints will motivate staff. He feels that boss is not always right. Joshi thinks staff is the asset of a company. I advise and assist my staff as and when required. I will treat all my staff equally, he shares his human resource management principle. He believes in giving opportunity to new comers too.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not believe in interfering much in the office management. Although, he wants the line of communication maintained.We just want to know what employees are doing. They must also feel that they are working for their own company and we believe they will. When the company prospers, they will prosper too, he opines.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not have much to complain about the aviation policy of Nepal. However he is dissatisfied with air traffic problems. He urges the government to find a solution as soon as possible. He sees a good future and market prospect for the travel industry. He reveals this is one of the reasons behind establishing his airline business. He observes that the tourism sector is growing more every year and he wishes it to boom in the future. According to Joshi, aviation industry is doing well. He says, We established the company with the motto: Let's be a part of aviation team in Nepal.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi has already thought of expanding the business in the future. However, he and Khadgi do not have plans to do it within two years. They want to first sustain in the competitive market. After two years, we will go for expansion,he discloses.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">I am more focused on my dream project, he says with a touch of grit. At least 12 hours of his day is spent in work. Joshi says he gets time for his family only during mealtime. However, on Saturdays, when he is mostly on leisure, he loves to go on a drive with his wife. Apart from that, his free time is spent meeting with relatives, staying at home, watching TV or listening to music. He does not usually travel but he promises to do so as his new venture will require him to travel. At times, Joshi feels lonely when his sons are not with him. He says being away from sons have become his part of life. Joshi lives with his wife at Sitapaila.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not have regrets about his career. He feels he is happy with what his life has given him. I have settled down and I possess everything I need, he expresses contentment. The only regret he has from his life is that he could not save his mother who was suffering from cancer. He took her to the best hospitals in Mumbai and Delhi but she could not be saved. That was the saddest part in our life: for me and my family. It has been almost 15 years, but still I feel like crying when I remember those times, he gets sentimental.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi's life is closely knit with his profession and his dream project.&nbsp;His wishes, his dreams are associated with his newly established company. I just want to see Swift Air growing.&nbsp;The more it grows, the more people will be employed. And, I wish we could add more aircraft to the fleet, he says.</span></div>
<p>
	<span _fck_bookmark="1" style="display: none;">&nbsp;</span><span _fck_bookmark="1" style="display: none;">&nbsp;</span></p>
<h2>
	<span style="font-size:16px;"><strong><code><span dir="ltr"><span style="background-color: yellow;">Personal side</span></span></code></strong></span></h2>
<p>
	<span _fck_bookmark="1" style="display: none;">&nbsp;</span><span _fck_bookmark="1" style="display: none;">&nbsp;</span></p>
<ul>
	<li>
		<span style="font-size:12px;">Not active in social activities</span></li>
	<li>
		<span style="font-size:12px;">Not much gadget savvy uses iPhone and a laptop</span></li>
	<li>
		<span style="font-size:12px;">Loves driving</span></li>
	<li>
		<span style="font-size:12px;">Prefers driving motorcycle to a car in Kathmandu streets</span></li>
	<li>
		<span style="font-size:12px;">Does not play games but watches sports channels</span></li>
	<li>
		<span style="font-size:12px;">Likes gardening</span></li>
	<li>
		<span style="font-size:12px;">Loves watching National Geographic, Discovery, Star Movies, HBO</span></li>
	<li>
		<span style="font-size:12px;">Good music fanatic</span></li>
	<li>
		<span style="font-size:12px;">Likes reading magazines and newspapers</span></li>
	<li>
		<span style="font-size:12px;">Does not drink alcoholic beverages except beer</span></li>
	<li>
		<span style="font-size:12px;">&nbsp;Not brand conscious but believes in looking smart</span></li>
</ul>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Determined to his achieve success, Joshi is not ready to step back. This is the time to watch him take off and see him touch the sky.</span></div>
</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'Gyanendra Bhakta Joshi, Managing Director of Swift Air, is determined to touch the sky with his dream project. It is his passion for aircraft and tourism that drove..........',
			'sortorder' => '386',
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	(int) 9 => array(
		'Article' => array(
			'id' => '475',
			'article_category_id' => '40',
			'title' => ''NRB Will Take Every Possible Measure To Bring Liquidity Problem Under Control'(October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><strong>Gopal Prasad Kaphle </strong>is Deputy Governor of Nepal Rastra Bank (NRB), the central bank of <img align="right" alt="" border="2" height="356" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/gopal prasad kaphle.jpg" vspace="10" width="250" />Nepal. He was appointed to the post on December 26, 2010. He started his career in banking in 1955 and is devoted to this sector for more than 29 years. During this period, he worked in banking operation, branch operation, development finance, micro finance, public debt, training, and banking inspection and supervision department. He completed Masterâ€™s Degree in Economics from Tribhuvan University in 1979. He also has a Masterâ€™s Degree in Economics from the University of New England, Australia. In an interview with <i>New Business Age</i>, Kaphle speaks about the current situation in the banking sector and NRBâ€™s regulatory plans for the future. Excerpts:<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Total net profit of commercial banks has increased by 2.28 per cent compared to that of last year. Why is the growth so low?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">The growth rate compared to a few years ago is quite low. However, there is no reason to be unhappy about the profit earned by financial institutions. There are some factors that have caused the liquidity problem such as absence of investment area and environment, turmoil in real estate, margin lending, and until last year delayed government budget. Despite these all, BFIs (bank and financial institutions) are successful in making profit and provide relief to shareholders and promoters. In the coming years, if the things change for the better like a timely budget, investment friendly environment and good corporate governance, we can be more optimistic about the high growth in profit.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Problem of liquidity is still not solved. What is the real scenario at present? How long will it take to overcome this crisis?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">If we look at the liquidity inside financial system, there are not many reasons to worry about. A couple of months ago, commercial banks had Rs 22 billion surplus liquidity in the market. Prior to that, more than Rs 30 billion surplus liquidity was observed in commercial banks. Most of the commercial banks except only a few are in surplus. Among B and C class financial institutions, some have surplus while others are in deficit. Moreover, commercial banks are at ease while development banks and finance companies are not completely out of the woods. If we look at inter-bank lending rate, till date, only some finance companies are still borrowing at 15 or 16 per cent. Commercial banks were borrowing at one per cent some time back but at present they are borrowing at around 1.5 per cent. This shows, there is ease in the system but at the individual level, some bank and finance companies are still in problem. But, the liquidity problem is not completely resolved.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">This time of the year is normally the period of ease. During this period, the government budget has been passed by the parliament. There have been fewer investments. Loan and interests repayment rate in the commercial banks is good. That makes the liquidity problem to look relieved. We are also in a wait and watch mode to see what the situation is after Dashain and Tihar. I believe there wonâ€™t be big problems like in previous years. At such times, we cannot deny the possibility of problems. However, we are alert because of the lessons we have learnt. Public trust has developed in the banking sector. In the coming days, NRB will take every possible measure to bring this problem under control. The government has also assured that. NRB, if required, will use any instruments like refinancing to LOR (Lender of Last Resort) to bring the situation in control. To make sure that liquidity does not remain idle, we are issuing development bonds and treating B and C class institutions can participate in such instruments. We are putting them in a separate basket. I am trying to ensure the environment to cash in on instruments whenever there is any problem of liquidity. Problem is psychological too. And, commercial banks are also optimistic that the problem will ease. I believe the problems of the past will not repeat.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">The average non-performing loan out of total loans has increased to 2.41 per cent from 1.92 per cent of previous year. What is your take on this?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">This may be realistic too because the biggest problem currently is real estate loans. The financial sector is not mobile. Economic activities are missing; industries are not moving on the right track, there are problems of labour and import-export. Due to unstable government, policies are not implemented. We also realise that NRB has become quite aggressive and taken tough policy measures. We tried to address the problem of good governance that has been left unaddressed over the years at once instead of treating it in a step-by-step manner. Due to the absence of investment environment to tap such opportunities, lending in industries have problems of recovery. Industries may not be running, some might have been closed down, there are labour issues. So, loans are not being paid back. Some banks and finance companies were in problem. So, we decided to liquidate some companies, and because of that, their non-performing loans must have been added. Real estate loans had the largest market share. We put a cap on lending to the real estate. The sales of real state also faltered. As developers cannot sell, they could not repay the loan. We have tried to ease it. However, market and economy as a whole has effects on business and non-performing loans increased.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">On NRBâ€™s inspection and supervision part, we have managed it. Compared to the past, we have improved our vision and efforts to solve problems, monitoring and inspections. After our effective inspection, institutions are not able to turn bad loans into good. That has also led to increase the volume of such loans. Increase in such loans does not mean banking systemâ€™s status has deteriorated than earlier. This is another side of NRBâ€™s inspection, supervisionâ€™s smoothness and effectiveness.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">NRB is planning to adopt a risk based supervision system. What will be the modality of such a system? And, how soon could this be implemented?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">We have various modalities in this risk-based supervision system. There are numerous risks like subjective, managerial and operational among others. Our inspection department categorises specific risks from every sector. Based on that, we define our observation. There may be risks in one sector while others may be safe. This modality tries to take a multidimensional approach to maintaining discipline. It is a change from traditional supervision mechanism. The mechanism is envisioned to ensure that banks and financial institutions should not be in trouble because of any sector or cause. It considers not only good governance, capital base but also operation, investment portfolio among others. This modality aims to calculate and mitigate risks from any sectors. It is based on our belief that a bank must be healthy, strong and create a separate identity in the market.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">Risk-based supervision is applied within NRB too. We are applying it in our departmental operations. It is already under application. We believe risks must be mitigated. We now have to take it forward effectively and give continuity to it. We have to calculate risks that may arise in the future.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">IMF had suggested NRB to exercise more power. What are the new steps NRB is planning to take?<br />
	<br />
	</span></strong><span style="font-size: 14px;">Exercise of power must be viewed considering a couple of elements. NRB exercises power based on NRB Act and BAFIA. BAFIA is in the house and discussions are going on to amend it. It must be strong. The government sector also has a role to make NRB active. We have focused on a few things like taking prompt action on the problems witnessed in financial institutions. NRB must be given right to take prompt action against any issues of good governance. For now, it takes a long time to take action against any person who is proved guilty. The process requires informing the Ministry of Finance then the Ministry of Home and finally the police. If we had power, we could have taken action against some financial criminals. So, NRB must be powerful and the government intervention should be less. NRB should be guaranteed a strong autonomous identity. For that, the status of Governor and Deputy Governor of NRB must be raised which would lead to more power. There must be such provisions that police can make arrests and take actions based on our letter. Time lag that is in existence is encouraging culprits to flee. We are demanding to increase our rights and that will help maintain discipline in banks and financial institutions.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">What is NRB doing to restore public confidence in financial institutions that is said to be at a low ebb?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">I donâ€™t fully agree with it. At present, public confidence is improving. The confidence started declining when there was crisis of new notes during Dashain around two-three years back. Then, slowly public belief diminished in the entire banking system. And, it heightened with the liquidity crunch. At the same time, some companies were in problem and as a result, trust in the entire financial system eroded. If NRB had not been able to take action and correct its policies, the confidence would have fallen more. We tried hard and deposits have increased, profit has grown though a little and the people are returning to banks for deposits. People kept their money with themselves as some banks could not give loans, or even return deposits. We have moved on from this situation. The increased deposit and surplus liquidity is all because of increasing public confidence. I donâ€™t think commercial banks should worry but this is not a siesta time. Public is so sensitive that if it does not get good service there will be shift in belief and trust. Public confidence must be won with good service, good governance and transparency.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">A demand to stop issuing license to financial institution is heard. Is NRB planning to take such action?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">A couple of things must be taken into consideration. Firstly, the number of financial institutions needed for Nepal with respect to our scale of economy must be clear. Another, there must be clear demarcations of public status like deprived groups, remote areas, hilly and mountainous areas and developed areas. We have already faced the consequences of rampant establishment of banks and finance companies. So, we are going for merger. One policy was formulated, companies came meeting the requirements and licence was issued. We have seen its consequences. NRBâ€™s capacity for inspection and supervision was witnessed along with banks and finance companiesâ€™ capacity and implementation of good governance. Often question is raised whether a company can be established or not just with a certain amount of capital. The number is one question, while deepening access of service in certain geographical region and population can be another. Access and inclusion of financial and banking service to all regions must be analysed. The measures to cater to that group or region deprived of service must be pointed out. Similarly, unhealthy competition arises from increased number. The cake is shared by all institutions even as their number increases. Eventually, the size of activities will also diminish. Considering it, a suitable policy and environment must be created. It does not mean we should not issue any licenses. We had prioritised microfinance and its number has also exceeded. There are a lot of duplications. It must be analysed whether a particular area requires more companies or service. Whether to go for branch expansion or number of institutions are two options. So, whichever is feasible we must concentrate on that. Every region and every group of people must be able to access the services and share the cake of national economic development. We must devise our licensing policy accordingly so that there is no duplications and quality facilities are evenly distributed. We are making such policy. We are forming a five-year strategic plan in which we have planned to review the licensing policy. After formulation of that outline, we will have suitable licensing policy and we will bring in merger to control excess institutions and expand in areas with scarcity. That will be either by motivation, giving additional services or accelerating, we will take banking services to those areas.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Till date, a merger between two commercial banks has not happened. Do you think the mergers that are happening are satisfactory and meet the expectation of NRB?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">The expectation of NRB on merger is not met. For the coming days, NRB is offering two options: merge and get incentive or be ready for forceful merger. If motivational measures do not work, we will have to go for forceful mergers. IMF and other world bodies have suggested that the number of financial institutions is exceeding the national capacity and need. Our only target is to merge the financial institutions, increase their capital base and ensure good governance. It is our continued effort. There are policy complications and we are relaxing them. We are inviting them to come for merger as soon as possible. It is obvious that some practical problems come during mergers. Nobody wants to lose anything. There canâ€™t be two CEOs, chairmen or GMs. Problems in managerial aspects are visible. Someone must compromise something. NRB is determined and it will make mergers anyhow.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">NRB is trying to correct several of its mistakes of the past like cap on CEO salary, margin lending and real estate? Why does NRB take ad-hoc decisions in the first place?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">I donâ€™t think so. While trying to manage something in an open system, ripples like in a pond hit by a stone are visible. We did not compromise even while deciding CEOâ€™s salary. It is implemented now. We had some policy difficulties regarding B and C class institutions. There would be large variations if similar policy is applied in all financial institutions. It is difficult to manage as there are institutions confined to a district and also large national institutions. Now, we have addressed it through a new policy. We have let them decide independently on salary but based on certain backdrops.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">How long will it take to improve the BoP situation to a comfortable level?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">BOP has improved lately and it was in surplus in June/July. It will continue to improve in coming months too. I donâ€™t think we will go into deficit this year but having said that we should not stay idle. It is getting positive and we are optimistic. There are countries which have deficit balance of payment and are still considered developed. In countries like ours, where there is small source of income and imports are big, some discipline must be maintained like increasing our productivity in sectors like agriculture and increased credit flow to the productive sectors. Internal production immediately helps BoP. We have requested financial institutions to invest in such areas. When the government budget flows to those areas, production increases and jobs are created. That will have multiplier effect and export will also increase. Import of luxurious goods must be discouraged while development oriented activities must continue. Other options than remittance also need to be sought to remain in safe position.</span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-23',
			'keywords' => '',
			'description' => 'Gopal Prasad Kaphle is Deputy Governor of Nepal Rastra Bank (NRB), the central bank of Nepal. He was appointed to the post on December 26, 2010. He started his career in banking in 1955 and is devoted to this sector for more than 29 years. During this period, he worked in banking operation, branch operation, development finance, micro finance, public debt, training, and banking inspection and supervision department.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '474',
			'article_category_id' => '40',
			'title' => 'We Are Sailing Easy For Now (October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><strong>Sashin Joshi </strong>is the Chief Executive Officer of Nepal Industrial &amp; Commercial (NIC) Bank Limited. <img align="right" alt="" border="2" height="378" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sashin%20joshi.jpg" vspace="10" width="250" />He is also the Chairman of National Banking Training Institute (NBTI) besides being the Immediate Past President of Nepal Bankers Association. He holds an MBA in Finance, a Post-graduate Diploma in Marketing and is Credit-Accredited by international banks. Having started his banking career in 1986 with Nabil Bank, Joshi has also worked in Australia and New Zealand Banking Group, Melbourne, and ANZ Grindlays Bank, Kolkata. He was a Director of the Board and Head of Corporate &amp; Institutional Banking at Standard Chartered Bank Nepal before moving to NIC Bank. Also a Founding Director of Rural Micro-finance Development Centre (RMDC), he aspires to contribute in scaling-up reform in Nepalâ's financial sector by working closely with the government, the central bank and the private sector. In an interview with Pinaki Roy of <i>New Business Age</i>, Joshi analyses the performance of Nepal's commercil banks over the past year and recommends remedial measures on issues that plague the sector. Excerpts:</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What is your analysis of the performance of Nepal's commercial banks over the past year?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">It's not very good. But honestly speaking, I was expecting it to be even worse. Banks were helped to a certain extent by some relief measures given by the central bank at the last minute. I had predicted that the aggregate profit of all the commercial banks put together would be negative. However, we have managed aggregate increase in profit by about two-and-a-half per cent compared to that of last year. My analysis is that the Nepal Rastra Bankâ€™s (NRB) relief measures in the eleventh hour helped us avert negative growth.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Total net profit of commercial banks in Nepal has increased by a mere 2.28 per cent compared to that of last year. What is the reason for this slow growth?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">The commercial banksâ€™ profitability was impacted for a number of reasons. As a result of extremely tight liquidity, banks started competing fiercely for deposits by going one-up on interest rates. The deposit rates increased significantly but the banks were not able to pass on all the increase to the borrowers. This resulted in the banksâ€™ average margin getting reduced. Many banks had to take on additional costs on account of personnel, utility, security, stationery supply etc among others. And of course, there is no business growth for reasons of political instability.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Liquidity crunch continues to persist. What is the severity of the crunch at this point of time and how long will it take us to overcome this?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">I would like to contradict you here. The liquidity situation has improved significantly over the past couple of months. It improved primarily due to two reasons: one is that there was massive government expenditure that happened towards the end of the last fiscal year. Besides, the budget this year came out on time and therefore, there was no gap between budget approval and government expenditure. On the external account, there have been a lot of reimbursements that have happened for projects which were undergoing or completed. Another reason is that due to very tight liquidity crunch and lack of favourable market conditions, banks were putting brakes on new lending. These two reasons together helped preserve liquidity. However, the real test will be when a lot of withdrawals will take place during Dashain and Tihar. Also, if the capital expenditure of the government does not coincide with the festival season, we could have another tight situation. For that, we will have to wait and see but for now, we are <br />
	sailing easy.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">The total non-performing loan has increased by close to 26 per cent as against last year. What could be the possible remedial measures?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">To tell you the truth, I had expected higher increase in non-performing loans. The relief given by the central bank especially to the real estate sector towards the end of last fiscal year provided respite because the borrowers were allowed to pay a month after the year end without attracting any provisioning. I believe there is still some under provisioning by banks.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">If there is a problem, you have to bite the bullet. Postponing a problem is not going to make the problem go away. If you have a problem loan, you have to recognise it as one and make appropriate provisioning for that. However, if a business can be revived through re-organisation or re-scheduling, then we should also make every effort to make that happen.&nbsp;&nbsp;&nbsp; </span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">How can public confidence in financial institutions be restored at a time when the banking industry has been troubled with lower deposit mobilisation?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(0, 0, 0);"><span style="font-size: 14px;">I think the financial system in Nepal is relatively sound, more so when it comes to </span></span><span style="color:#000;"><span style="font-size: 14px;">"A" </span></span><span style="color:#000;"><span style="font-size: 14px;">class commercial banks which account for 80 per cent of the market both in deposits and lending. Most of these institutions are well supervised, have reasonably large capital base and on the whole, well managed. The problem lies basically with "A"&nbsp; class institutions where quite a few corporate governance-related issues have surfaced. There is also a lack of regular and effective supervision by the central bank. If visible measures are taken in these two areas by the central bank and boards of these institutions, I think it will help in restoring public confidence.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What is your stance on granting banking licenses to practically everybody who applies for it? Aren't we overcrowded with banks in the urban centres while 70 per cent of the country still has no access to formal banking?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">That was the biggest problem. NRB effectively had just one criterion capital, so anyone who had the money could virtually open a bank here. That was a very wrong policy because banking is such a sensitive industry. Unlike other industries, banks are the custodian of public money where people put their trust. While allowing bank licenses, NRB should have a very prudent and strict criterion to ensure the right intentions of the promoters and the management.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">It's not a numbers issue. It's more about the quality of the banks and the effectiveness of the central bank's supervision. Banks are spreading out and more than a 1,000 branches have been opened in the last one year by all the banks put together. And most of these branches are located outside Kathmandu.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">We are being inundated with merger rhetoric for as long as one can remember, however, we haven't seen one till now. How serious are the stakeholders about this and how will it impact the industry?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">For any merger to happen, the basis is the potential value addition. Merger for the sake of merger is nonsense. If you look at the international experience on mergers, more than 50 per cent have usually failed. A merger is welcome provided there is value addition taking place between merging institutions by way of bringing in synergies, business, cost, reach, network etc. In Nepal's context, the cultural angle also comes into play. Factors such as multiple promoters with their own personal interests and their respective egos taking precedence etc override the fundamental business deal. That's why I believe that it's very difficult for mergers to happen here.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">However, if mergers do happen, it will definitely be good for the industry. Some degree of consolidation is required because there are too many small players in the market. Size does matter and provided there is a requisition from managements, better efficiency can be brought in.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">How long will it take to improve the BoP situation for us to get slightly more comfortable than we at present are?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">We have a huge trade imbalance and if we are going to depend solely on trade, it is going to take us a very long time. The export-import imbalance is quite severe which we can deal with it by building more manufacturing establishments and having a better industrial base. Even if we want to promote hydropower, the gestation period again is going to consume a lot of time. Therefore, purely based on trade prospects, it is going to take us a long time to improve the BoP situation. We have of course, been helped by the remittances brought in by Nepali Diaspora and also the aid coming through bilateral and multilateral donors that ensures capital inflow. Even if we have financial and political stability and the policies are conducive, we cannot expect wonders. To even expect that we will have a trade surplus will take us at least 10 years if we start now.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Why is it becoming more difficult to control inflation? What are your recommendations to successfully control inflation?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">In Nepal, inflation is primarily on account of two factors. One is the imported inflation which we can do nothing much about. Within this imported inflation, India plays a big role as two-third of our trade is with India which is just the formal trade. If you also take into account the informal trade, my guess is that it would be as much as 80 per cent. So, a lot of inflation is imported from India. The other factor is the supply side where there are no internal control mechanisms. The distribution cost is very high because of the transportation cartels and syndicates. Cost of power is very high in Nepal while the labour costs are ever rising. We still donâte have very good access in terms of roads which again makes it a bottleneck to get goods from one place to another thus adding up costs. We can do a lot on the internal side if the government becomes more effective in its functioning. Besides, the government must allow some subsidy to the agricultural sector otherwise our farmers just cannot compete with the farmers in India where you have subsidies for fertilizers, irrigation, power etc.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What are your expectations from NRB given the prevailing scenario where the banking industry has registered an excruciatingly slow growth?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">One expectation I have is that whenever NRB brings out any new policies, directives or circulars, they do it through a consultative process where stakeholders are involved and there is a dialogue. It's not necessary that NRB has to agree to everything that the stakeholders say but at least there is a two-way process when you take everybody into confidence. If a consultative process brings forth any new policies and directives, there will be ownership from the stakeholders themselves. It means that enforcement will be that much more easier because then it becomes voluntary.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">My second expectation is that while bringing out any new directives or policies, they should also try to emulate some of the best practices in the world and think it through before implementing them. We have seen in the past that in quite a few instances, they have come out with half-baked directives which they had to amend a number of times. That shows some kind of shallow thinking within the central bank when they come out with directives.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">Third one is that when they come out with any policies, they should not look only at the bad practices followed by one or two institutions and then paint everyone with the same brush. They must not generalise. If there are some bad apples, they should handle them individually and not treat everybody with suspicion.</span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-23',
			'keywords' => '',
			'description' => 'Sashin Joshi is the Chief Executive Officer of Nepal Industrial & Commercial (NIC) Bank Limited. He is also the Chairman of National Banking Training Institute (NBTI)..........',
			'sortorder' => '384',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '473',
			'article_category_id' => '40',
			'title' => 'Business Of B-schools (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<strong><span style="font-size: 14px;">By Gaurav Aryal</span></strong></p>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="" border="2" height="252" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sep-cover.jpg" style="width: 251px; height: 252px;" vspace="10" width="251" /></span><span style="font-size: 14px;">During past one decade or so, one of the areas that witnessed a exponential growth in Nepal is the Management Education. Along with the growing demand of duly trained human resource in the field, the management education also thrived as the business in itself. The growing number of banks, financial institutions, corporate houses and increased awareness about the need for modern management expertise to run any commercial&nbsp;venture fueled the growth in management education. Private sector investment in setting up the state-of-the-art institutions and immensly improved quality of education indeed have had multiplier effect in adding attraction to both-investors and students. More than&nbsp;one and half dozen colleges affiliated to three universities - Pokhara University, Purbanchal University and Kathmandu University (KU) - are running either Master in Business Management (MBA) or Executive MBA (EMBA) or both. Though the Tribhuvan University (TU) has not introduced any of these courses, it is running Master in Business Studies (MBS) for decades now. TU plans to introduce an MBA programme in the near future. All these universities also run Bachelor in Business Management (BBA), a four year course while TU has Bachelors in Business Studies (three year course) as well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A few years back studying medicine was supposed to be the most prestigious academic pursuit for a whole lot of students and guardians. Today, the market demand, expansion of career prospects in management sector, growing importance of human resources in companies and distinct teaching-learning methodology are luring more students to management education, perhaps, more than in any other discipline. Nepali universities are also working hard to produce quality managers to compete in the market where top-notch managers are still mostly from foreign universities.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The History</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management education began in Nepal in the form of commerce education in 1954 with the establishment of commerce department in government-owned Tri-Chandra College. The college had introduced Intermediate of Commerce (ICom) and Bachelor of Commerce (BCom) programs with 27 and four students respectively. The programme was affiliated to an Indian university till the establishement of Tribhuvan University (TU) in 1959. The following year, in 1960, TU began offering post-graduate programme in commerce called Master in Commerce (MCom) as well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dr Bijay KC, the Dean and Professor at South Asian Institute of Management (SAIM), says introduction of National Educational System Plan in 1971 proved a milestone in the evolution of management education in the country. TU set up Institute of Business Administration, Commerce and Public Administration. This institute was renamed as Institute of Management in 1976. It is now called Faculty of Management (FOM).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Nepal National College (later renamed Shankar Dev Campus), Public Commerce College (Kathmandu), Nepal Commerce College (Lalitpur), Thakur Ram College (Birgunj), Mahendra Morang College (Biratnagar) ruled the roost for a long period in the management education of Nepal. Numerous prominent business persons&nbsp;and management gurus were educated in these colleges. These colleges were later brought under the direct control of TU (as TUâ€™s constituent campuses) following the introduction of National Education System Plan of 1971.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That system of complete state control on education was withdrawn in 1979 and TU started granting affiliation to colleges set up by the private sector. However, it was only after 1991 (i.e. after the advent of multi-party democracy) that there was real growth of colleges from the private sector in management as well as in other types of higher education. That was the year when Kathmandu University (KU) was set up. KU set up Management School (called KU School of Management or KUSOM) in August 1993.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That was followed by establishment of Purbanchal University in 1995 and Pokhara University in 1996. Thus, there are four universities in Nepal now providing management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">These universities are competing to introduce new tools and techniques in management education. For example, MBA with modern teaching-learning methodology and accordingly courses designed at these universities have helped maintain almost global standards in upper-level management education. A new brand of MBA â€“ EMBA has been introduced recently targeting practising managers. This management programme has been introduced in several private colleges affiliated to Pokhara University, Purbanchal University as well as the central college of KU called KU School of Management (KUSOM).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As of 2009, TUâ€™s FOM had 28 constituent colleges and 506 affiliated colleges. The latest entry (August 2011) in the website of Pokhara University shows that it has over ten colleges affiliated to it for different types of management education in the Bachelorâ€™s or Masterâ€™s level in addition to its central campus of PU School of Business. Similarly, KU has three colleges affiliated to it for such courses in addition to its central campus KUSOM. Purbanchal University has over 35 constituent or affiliated colleges for such programmes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">These colleges offer such courses as Master of Travel and Tourism Management (MTTM) at the Masterâ€™s level in addition to MBA, MBS and EMBA. At the Bachelorâ€™s level, there are other specialised programmes as well in addition to BBS and BBA. The examples are Bachelor in Hotel Management (BHM), Bachelor of Information Management (BIM), Bachelor of Travel and Tourism Management (BTTM), Bachelor of Business Information System (BBIS) and Bachelor of Commerce Studies (BCS).&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, despite such growth in management education in Nepal, a large number of Nepali students are still going abroad for management education. While that shows the growing demand for the higher education in management science, it has lured a number of foreign institutions to set up their campuses in Nepal or forge partnerships with Nepali colleges or universities.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The Growth</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Saroj Dhakal, Management Faculty at the recently established CG-CEDEMAS Institute of Management (CGCIM), feels MBA has now become a most sought after brand amongst the ones aspiring to make career in financial or managerial fields. This institute is a joint venture between Nepalâ€™s one of the porominent business houses Chaudhary Group and Englandâ€™s Centre for Development Management Studies (CEDEMAS).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Colleges offering MBA, EMBA or both degrees</span></div>
<table border="2" cellpadding="0" cellspacing="0" style="width: 424px; height: 987px;">
	<tbody>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">S. No.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Name of College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Affiliation</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University School of Management (KUSOM)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">2.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Ace Institute of Management</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">3.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Apex College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">4.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">National Open College (NOC)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">5.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Uniglobe College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">6.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University-Faculty of Management Studies</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">7.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">South Asian Institute of Management (SAIM)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">8.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu Don Bosco College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">9.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Novel Academy</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">10.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Presidency College Of Management Sciences</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">11.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Zenith International College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">12.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kantipur Hotel Management &amp; Interior Design College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">13.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">DAV College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">14.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Topper Management College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">15.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">White House Graduate School of Management</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">16.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Campion Kathmandu College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">17.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Birganj Public College, Birgunj</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">18.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Maharaja Agrasen College of Management, Birgunj</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">19.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Management Campus, Biratnagar</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">20.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nepal Bebasthapan (Sang) College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">21.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">King's College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">22.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Presidential Business School</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">23.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nova International College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">24.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Lord Buddha Education Foundation (LBEF)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Sikkim Manipal University (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">25.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International Center for Academic College of Distance Education &amp; Online Studies(ICA)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Indira Gandhi National Open University (IGNOU) (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">26.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nepal Information Technology</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Indira Gandhi National Open University (IGNOU) (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">27.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Institute of Banking &amp; Management Studies</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Bharathiar University (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">28.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">KFA Business School</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Vinayaka Missions University (India)</span></div>
			</td>
		</tr>
	</tbody>
</table>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Apart from the banking and financial system, the demand for professional managers is equally strong in other sectors like tourism and hospitality, energy, agriculture, public sector and others.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As the reasons for growing attraction and development of management education Dr Bijay KC lists development in infrastructure over one-and-a-half decades, change in the trade and occupational patterns in Nepal, growth in media, information technology and development of financial sector, among others. MBA and EMBA graduates are more in demand in the private sector than in the government. KC feels that globalisation and liberalisation have spurted the demand for quality managers.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Prof Dr Geeta Pradhan, Dean at Faculty of Management Studies at Pokhara University, says â€œThe growth of banks and corporate houses has definitely added attraction to management studies in the country. Similarly, MBA teaching methods has several in-built practical approaches with internships, project works and case studies.â€ She thinks such approach of teaching-learning methodology produces graduates that are competitive in the work environment and turn out to be capable managers. She added, â€œManagers are required in every field â€“ hospitals to corporate houses. This has created the demand for management graduates.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, Prof Dr Dev Raj Adhikari, Head, Central Department of Management, Tribhuvan University, says that the current growth is not of the actual business schools but in the business studies. He gives credit for this to leading four universities for the growth. He says, the number of students and resource persons is growing along with the demand for competitive human resources in the market that is also growing. Adhikari says, â€œManagement education has improved in terms of both quality and quantity.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<strong><span style="font-size: 14px;">Student Psyche</span></strong></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">MBA students are often tagged as job creators in foreign universities for their attitude summarised as: â€œWe donâ€™t seek job. We create jobs.â€ However, that attitude is not so common among Nepali students. Pradhan says, â€œStudents are not sufficiently eager and positive towards setting up their own business. When I encourage my students about coming up with such ideas, I donâ€™t see enthusiasm in them. I think they are quite lazy. Working in a bank is considered prestigious while setting up a farm by an educated person is not given respect in our society.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari says, â€œMore than 95 per cent students are job seekers.â€ He says it is engraved in our culture to search for jobs rather than create one by taking risk of being an entrepreneur. However, he shares some examples of his students who are willing to take up an entrepreneurâ€™s career. â€œSome MBA graduates have established their own cooperatives and finance companies, which is quite positive.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dr Subas KC, Dean of KUSOM, says that most of the students in his colleges are from well-off families and they prefer easy desk jobs in banks rather than hard work, of setting up companies and being an entrepreneur.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Social psyche, parentâ€™s expectation, socialisation and schooling are blamed for this mentality of job seekers rather than job creators. In fact, MBA courses are not designed to produce graduates who seek jobs but it is designed to produce managers and entrepreneurs. Risk taking attitude is said to be missing among students and aspiring entrepreneurs.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dhakal however points out that the level of risks to be shouldered in our society is higher than in other comparable countries including in the immediate neighbourhood. Lack of security, extortions and unfavourable investment environment are driving away graduates from setting up their own business, he argues. Julie Peters, Project Director CGCIM, says her college provides incentive to students with best ideas to set up their own business at the end of their studies to promote entrepreneurship.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Curriculum</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management course covers a wide range of disciplines with focus on marketing, human resource management, organisational behaviour, and strategic management among others. Apart from these, mathematics, psychology, sociology, philosophy and economics are taught in the classrooms to the graduate students. These courses expect students to understand and manage the literally all operational aspects of the organisation. Management studies enhance the managerial skills by sharing of ideas, healthy discussions and project works, say experts.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari, who is also the President of Nepalese Academy of Management, said MBA course is designed to understand the changing perspectives in the business. MBA graduates are expected to understand new definitions and programmes, think strategically, make decisions and have a practical approach to any problem. The aspects make them expert managers and business leaders.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Number of Management Colleges</span></div>
<table border="2" cellpadding="0" cellspacing="0" style="width: 401px; height: 246px;">
	<tbody>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Courses</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Tribhuvan University</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">BBS</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">533</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">BBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">18</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">35</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">23</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">4</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">MBS</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">45 in operation out of 90</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">MBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">6</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">12</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">EMBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">3</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
		</tr>
	</tbody>
</table>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari shared, â€œGeneral Motors of USA has devised three â€˜Tsâ€™ concept for its human resources - technology, talent and transformation. We need MBA graduates for such transformations.â€ He adds that MBA course in Nepal is devised to produce capable leaders who can understand and cope up with new advancements and plan, organise and execute accordingly. â€œMBA is not introduced only for the sake of MBA. It was introduced to support the emerging economy by developing such human resources that can meet the requirements either through a job or entrepreneurship,â€ he said talking about TUâ€™s management programmes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Scholars accept that the masterâ€™s level curricula on management of Nepali universities are that of the international standards. However, they often question about the way it is delivered to students. Dr Bijay KC said, â€œThe system we follow is more or less the same as in foreign universities. Many universities have accepted the credits our students have achieved primarily due to the courses we teach. Semester system, alphabetical grading evaluation, standard text books used here are similar to western system. In some cases, students may have to take some test/examination which, I think, is normal practice everywhere for any&nbsp; foreign student.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Professors think that the main gap is in the teaching-learning methods. KC explains, universities have the same curricula that cover human resource, finance, marketing, organisational behavior, economics, quantitative techniques, strategy, environment and management information system with more or less similar contents.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari and KC share the similar view that most important is the treatment of the course and its delivery in the classroom, the quality of faculty, the pedagogy used and practical exposure that the students gain during the course.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Teaching-Learning Methodology</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The classes of TU MBS are mostly based on the lecture method. However, the colleges under other universities have adopted more practical and participatory methodology to teach in MBA level. These days, traditional teaching-learning method based on lecture is deemed obsolete for any discipline. For management studies, active participation of students in group work and more practical approach, along with observatory methods are considered appropriate. In an MBA class, teacher and students challenge statements, attack and defend ideas. Inclusion of other approaches plays an important role in the learning process.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari says the central department of management is forced to adopt the traditional method of lecture as they have a huge number of students â€“ around 200 in a single class. He says this simply makes impossible to adopt the other style such as group discussions, presentations, case studies, etc.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Peters of CGCIM opines, â€œPurely academic approach will not work. The MBA course must take an approach of looking at company case study and the actual issues in that company and how they address those issues. Theories may come later. Theory is something managers already know from their experience but they donâ€™t realise that they know.â€ Dhakal from the same institute argues that for a class to be participatory and active, students too must have some kind of exposure and experience. â€œBut Nepali students are straight out of the undergraduate colleges, so the teaching methodology is confined to theories alone,â€ he said. Internationally, students can enrol into MBA course only after practical experience of a couple of years as a manager.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">An appropriately designed MBA curriculum demands for more participation, personality development and attitude development. So, the classroom must be synchronised accordingly. After graduation, students enter the job market. So, the colleges must be producing graduates who can face the real working environment. Adhikari believes, â€œTeaching-learning methodology plays a pivotal role in bridging the gap between classroom and workplace. Such environment in the class must be ensured so that they can adapt to the work environment the very next day.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Some of the business schools have tried to revolutionise the classrooms. They have introduced the concept of dual faculty in a class. Along with an academician, a professional contributor takes a class. Academician deals with the theory while the professional contributor shares his supportive working and real-life experiences. Such professional may be a Chief Executive Officer or Human Resource Manager of a bank or a corporate house.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Most graduate schools of management implement project works, participatory techniques, encourage team work, case studies and field visits and some invite visiting faculties from foreign universities. Similarly, games, participatory techniques and decision making opportunities are frequently practised in graduate schools.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">International Recognition</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The validity of degrees from Nepali universities is often questioned in foreign universities, mostly in the US and Europe. The courses adopted here, teaching method, curriculum, assessment criteria are mostly blamed for the failure of giving equal recognition to our degrees. Nepali masterâ€™s degree holders from any university mandatorily have to take up some kind of foundation course or additional credit hours in those foreign universities for them to get recognised as MBAs for employment and further degrees. Moreover, the competency of our colleges and students with the international counterparts can also be often questionable.&nbsp;Experts believe our universities and management institutes cannot be compared to the quality being offered by some universities and institutes in India and the US. However, we have been successful to devise the curriculum that is at par with the international quality for MBA as well as BBA.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In case of MBA, a student requires to meet certain requirements in USA to get enrolled. Unlike here, a student must have two years of work experience and must appear in the GMAT test before admission. Adhikari points these as some of the reasons why our degrees are not directly recognised internationally. However he claimed, â€œAlthough there is no direct recognition, our education is not derecognised anywhere in the world. After meeting some of their criteria like additional courses and credit hours, our degrees are largely recognised.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">One of the reasons Nepali young generation prefers foreign or international degrees to pursue MBA is the issue of recognition of our degrees.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Foreign Affiliation</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A number of Nepali institutes and colleges have now presented an option to acquire foreign degrees while being within the country. However, most of these colleges are centred in the capital city Kathmandu only. It is not only the Nepali colleges that are willing to bring in foreign affiliations, but also foreign universities are interested to have Nepali affiliates. The reason is the attraction of Nepali students for international degrees and thus the potential market for those colleges.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">CGCIM is the latest institute to offer post-graduate diploma affiliated to Centre for Development Management Studies (CEDEMAS), UK. Dhakal of CGCIM says that the institute was established with the idea to provide teaching in Nepal by foreigner professors. He said, â€œThis is the concept of providing a world-class degree from Nepal. Instead of students going abroad, professors come here to teach and the cost is relatively very small for the students.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Similarly, colleges like KFA, Institute of Banking &amp; Management Studies, Lord Buddha Education Foundation and some other are affiliated with Indian universities. Kingâ€™s College, Presidential Business School, Nova International College are affiliated to International American University, USA.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, the quality of the affiliated university is also questioned by professionals in management and business studies. KC of KUSOM said, â€œUniversities that Nepali colleges are affiliated to are not much heard-of. Such co-operations will not contribute much to the development of management studies. It will be really praiseworthy if colleges can bring in affiliations from top universities like Harvard, Oxford or any other well-known universities or even Indian Institute of Management.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Although the trend of getting affiliation with foreign university is increasing, the government universities are not feeling any threat. Adhikari of TU said, â€œNepali universities are in the forefront on the basis of competition and curriculum. We have much better course design that is customised with Nepali culture, system, economy, situation, need and expectation of the market.â€ Most of the foreign affiliations are based on the distance learning mode.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Sponsorship</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Funding students for business and management studies in Nepali college is not much practised by corporate houses. However, some corporate houses have financed a few students in some leading colleges. Apart from that there is also a trend to send the employees of the corporates to Indian colleges and institutes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Professors do not think that corporate houses are sending students abroad due to the crisis of trust on Nepali colleges. They believe it must be because of some extraordinary qualities that they cannot find in Nepali colleges but see in foreign ones.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However Adhikari says, â€œCorporate houses are not investing in HR for academic programmes. I have not found a single student sponsored by corporate houses.â€ Even in EMBA, which is meant for working managers, students are studying under self-financing. According to Adhikari, in other countries, EMBA students are compulsorily sponsored by employing organisations.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">EMBA</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">EMBA is the course designed for working professionals who want to improve their leadership and management skills. It is relatively a new course introduced in Nepal. This programme is said to help managers learn, grow, and change in their career while working. It is the only post-experience management degree as the MBA here does not need any prior work experience.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">EMBA is a two years course based on semester or trimester system. The course aims to enrich both theoretical and practical knowledge. The course requires being changed and updated to keep up with pace of the evolution in the market. Students of EMBA believe it helps to tackle the challenges they face in managerial profession that keep on arising at work. The course content of EMBA is quite similar to that of MBA with more priority on the practical aspects. EMBA colleges adopt case study, participative method, group discussions, presentations, field visits, project works as their common methods of teaching-learning, supported by lectures.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Three universities â€“ KU, Purbanchal and Pokhara University â€“ are offering EMBA courses. KU has it in its own campus â€“ KUSOM while Pokhara is offering it in its central campus as well as affiliated colleges and PU is providing it through its affiliates. Assessment criteria applied in these universities is a mixed bag of practical and theoretical written exams. Moreover, most colleges have implemented the overall performance evaluation for the grading system that is usually alphabetical.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Career Prospects and Recruitments</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management and business graduates opt for career in the financial sector which is at present the major job market in Nepalâ€™s formal sector. Students do not much prioritise other sectors than the financial institutions as their career area. Only a few students take the path of self-employment and job-creation through entrepreneurship.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Joint venture companies are also becoming the target areas of MBA graduates for jobs. Meanwhile it is expected that the service sector, which is growing fast, will certainly attract management graduates. KUSOM has its own employment cell to coordinate job placements. Ace Institute of Management too has similar kind of on-campus and off-campus placement mechanism. Dr Subas KC said that students used to be hired by well-known corporate houses in bulk when KUSOM was the only college to offer MBA. However, bulk hiring is not much practised now, companies still reach the college searching for suitable MBAs. Apart from students searching for jobs, companies too come searching for their probable employees.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Although it is not so difficult to secure a job after MBA, the facilities, working environment and remuneration are quite low compared to their qualification. Dr Geeta Pradhan accepts that management graduates are not getting the pay in Nepal that they deserve.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In our market, performance-based pay is less in practice. The flat industrial pay scale is common. Although pay is determined by several factors like economy, industrialisation, market, countryâ€™s status, personâ€™s productivity and efficiency, it is believed that most appropriate pay system is performance-based, that is what exactly is missing here in Nepal.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The Future</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Nepal being a growing economy, it is certain that the need for professional managers will grow in almost every sector. With the creation of job and growth of market, management graduates will be demanded by both private and public sectors. There are sectors like hydropower might just gradually open up as attractive jobs for new graduates The job market that is confined to the banking sector is certain to expand with more joint ventures coming, growth of service sector, more industries and growth of market.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That will lead to more demand for management graduates and management schools that produce top-notch managers. The collegesâ€™ changing trend shows that they will be able to manage to cater to the demands of the market and time. For that, the teaching-learning method has to change for the better. Similarly, the research practice that is missing among the professors must be developed. Rather than studying just what is happening in the outside world, management schools must be capable to address the evolving Nepali market realities. Without researches by the universities and professors that is almost impossible to do.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Moreover, MBA colleges are blamed for utter commercialisation. To revolutionise the management studies, they require to rise above the worries of profit and loss and dedicate themselves to bring in professional management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Experts opine that the concept of business school in true sense of the term is yet to come to Nepal. Business schools are more autonomous with definite vision, mission, and goals and operate accordingly. Adhikari says that such schools have distinct identity and existence. â€œTU is planning to develop the concept of business school. The only question is the extent of autonomy.â€ He thinks that MBA colleges are coming just for the sake of money without caring to meet their social responsibilities. The courses and academic studies must address the current needs of the country. â€œBusiness schools just with the aim to get students for the sake of business will not sustain in the future. They must take ahead business education with national and international perspectives in mind and by charting out clear vision, mission and leadership,â€&nbsp; he suggests.</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;"><br />
	</span></h3>
<h3 style="color: blue;">
	<span style="font-size: 14px;">* Alumni Speak *</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Sujan Raja Shrestha received an MBA degree from Kathmandu University School of Management (KUSOM) in 2000. Currently a Management Consultant with Smart Food &amp; Snacks Pvt Ltd, he also manages his own business ventures â€“ Sovereign Education Network and Barahi Eco Farming Company.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Having started his professional career as an employee in various companies, he has come full circle in his decade-long professional journey. He says, â€œI have learned much and had the opportunity to implement management skills over the years.â€ Shrestha takes pride in having reached the companies he worked with (Himalayan Snacks, Smart Food etc), to new heights. He emphasises that a corporate entityâ€™s success is the result of team work to a large extent. And almost in the same breath, he doesnâ€™t forget to remind, â€œTo manage and mobilise a team well enough to obtain maximum output, we require excellent management skills.â€ He adds that these skills can be learnt and it certainly helps having a management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Shrestha believes that one must not pursue management education, particularly an MBA degree, only to find better employment or to get a promotion. â€œThe knowledge a student gathers while studying management builds his/her analytical skills better than ever before and pays dividends over a long period of time,â€ he explains. He opines that a competent management education helps students make more informed decisions with a greater probability of success.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A firm believer of blending theory and practice in management education, he expresses confidence that having successfully completed their MBA programme, the students can choose any business or profession they have their heart for and want to excel at. Shrestha hopes that most management graduates will ultimately turn employers rather than remaining employees for life. â€œI look forward to the current crop of MBAs to turn entrepreneur after getting a few years experience so that they can create jobs for others and become more productive and constructive,â€ he concludes on an &nbsp;optimistic note.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Subodh Sharma Sigdel completed his MBA (Finance) from Nepal Commerce Campus, Tribhuvan University in 2000. He also attained an additional degree with an MSc in International Banking and Finance (IBF) from University of Greenwich, London in 2010. He is currently the Chief Executive Officer of CDS and Clearing Limited.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Sigdel was in the early phase of his banking career when he completed his MBA in 2000. The qualification helped him become a good leader and taught him skills related to conflict management, team motivation, plans and programmes preparation, effective communication and overall managerial acumen. After working in the banking and financial sector for more than nine years, he realised the need to get another degree that specialised in his working arena. Hence, he opted to obtain a degree in International Banking and Finance from the University of Greenwich in London. â€œThis degree has given me an excellent opportunity towards shaping my career,â€ he observes. Meanwhile, Sigdel also ran a trading institute where he trained commodity and stock investors about investing money in the market. He has been recently appointed the CEO of the first ever CDS company of Nepal, CDS and Clearing Limited which is an integral part of the capital market. â€œStudying subjects like International Capital Market and Financial Trading Techniques immensely helped me in bagging this coveted position. Besides, the IBF degree helped me with my policy making role and supervisory activities,â€ he reiterates. He credits his MBA (Finance) degree for building his career while being grateful to the MSc (IBF) qualification for shaping his career in a better direction.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">â€œManagement education has become extremely important for students aspiring for a career in management,â€ Sigdel asserts. He suggests that students should pursue a management degree because the market holds enormous opportunities for trained professionals. He adds that management career, today, is not limited to the banking and financial sector only. â€œCareer choices for management graduates are widening these days with new companies like Central Depository System, Commodity Exchanges, Credit Rating Agency, Mutual Funds and the concept of working as Commodity and Stock Trading Members have emerged in our economy,â€ he points out. Since these companies demand huge workforce, Sigdel advises students to attain relevant management education and fashion successful managerial careers for themselves.</span></div>',
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			'description' => 'During past one decade or so, one of the areas that witnessed a exponential growth in Nepal is the Management Education. Along with the growing demand of duly.......',
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		'Article' => array(
			'id' => '472',
			'article_category_id' => '40',
			'title' => ''We Are Compelled ToStudy Foreign Cases' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;"><b>Prof Dr Geeta Pradhan</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dean, Faculty of Management Studies</span><span style="font-size: 14px;"><img align="right" alt="" border="1" height="215" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/geeta pradhan(1).jpg" style="width: 166px; height: 215px;" vspace="10" width="166" /></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Pokhara University</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What are the emerging trends in management studies?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">New courses have been introduced in Nepal like EMBA. In MBA too, we have MBA in Finance, MBA in Global Business and we have planned for MBA in HR (Human Resource) Management and MBA in Management Information System. These courses produce expertise that is required for any corporate house or enterprise. Other course that I want to introduce is a Masters programme in Public Policy. I think the current education does not well equip those going for government and civil services.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">There is a remarkable growth in management colleges and students in Nepal. When I joined Pokhara University, there were very few students. In 2008, there was just one student in MBA. In Pokhara, there was a belief that MBA will not succeed. With the help of some officials from the university, I visited banks, institutes, chambers of commerce for searching students. They all assured to cooperate. Then, we received applications from 80 candidates while we had only 50 seats. At that time in BBA, the dropout rate was high. Admission was announced thrice for one BBA session. The growth of banking sector has also created demand for capable managers. Management studies with practical approach of teaching like internships, project works have helped graduates to contribute competitively in the organisations. Hence, there is growth in attraction to these courses and management schools.This course produces capable human resource and managers who are required in every field â€“ hospitals to corporate houses. Emerging financial institutions and corporate houses have also increased the demand for management graduates.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Some corporate houses are sending students to study in foreign colleges. Does that mean they donâ€™t trust our colleges and curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is not that our education is bad but we have not achieved their level, which we can achieve easily. I blame our attitude to ignore rules, regulations and the system. Despite having excellent course design, students are not able to perform well. If they can work accordingly, they will be capable, honest and manage their time efficiently.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Most MBA graduates seem to be targeting a job in banks. Are the MBA courses designed for that only? Do you see any&nbsp; misconception in students?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That is a misconception. The MBA is for producing capable managers and entrepreneurs. Our society does not respect all kinds of works. Table work is always considered the best job but running a farm is taken in a different way. Bank jobs have become a symbol of prestige now. Very few students think of setting up their own businesses. I encourage students to find out ways to use hot natural springs around Pokhara and prepare proposals but I think students do not have positive attitude for such creative works.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Case study is what foreign universities opt for teaching. It is said that we donâ€™t have much cases within our country to study. Are we forced to study only the foreign cases?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In case studies, frankly speaking, the trend of case writing is missing in Nepal. In my university too, we employ the case study method, which is a foreign concept. Good cases from Nepal are not being written. There are some professors who write them but still good cases are missing. We often encourage writing them but professors for some reasons are not willing to write them. I think they feel lazy. I feel we donâ€™t have a tendency to be competent and do something different. So, we are bound to study foreign cases though we have enough cases and examples in our own surroundings.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How suitable is our curriculum for the typical business environment of Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The curriculum suits the typical business environment of Nepal. However, the dialogue between academia and business is missing. Business is heading in one direction while business schools are in another.&nbsp;I often tell business houses to exchange resources but I donâ€™t know why it is not been possible to find a working chord.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Curriculum and teaching-learning methodology of Nepali colleges and universities are&nbsp;said to be traditional. What is your university doing to update your curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is true that we have traditional method of teaching and learning. For bringing some changes, students must have exposure and the teachers too need to have some inputs. They teach only what they have studied. That makes it quite difficult. When visiting faculties are selected I prefer MBA graduates from America. They have exposure to different methodologies and it is definitely different than teachers who got education here. We are revising the curriculum even of BBA and that has been approved by the subject committee. We have also included the course of business ethics. We continuously go on revising the curriculum.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How does the course bridge the gap between real life work place and the lessons taught in business schools?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">If there were more teachers who studied in foreign universities or from abroad, bridging the gap between classroom and the real world would have been much easier. There are many constraints. When we ask students to go for some field visits they ask the university to bear the cost. That is a hindrance. To some extent, students also need to bear these expenses when it is useful for their studies and career. I think many do not understand the concept of university. In university, students are required to manage some expenses for themselves. What they do and what they learn in classroom is reflected in the real working environment.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Nepali universities are said to have weak management and the basics like exams and results are not conducted on time. What is the main problem?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The management is not a total failure but it is also true that it is quite weak. The management is unable to enforce the rule upon students and their unrealistic demands are not suppressed. In some cases, colleges themselves are involved in encouraging students for demonstrations to change the date of scheduled exams. They reason, the course is incomplete. I think infiltration of political elements in colleges is guiding it. But we have tried to bring the session back on track by cancelling vacations. The situation is gradually improving because we are also taking firm decisions. I think one of the reasons behind such practice is, most of the time students are enrolled without proper selection due to various reasons.</span></div>',
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			'description' => 'New courses have been introduced in Nepal like EMBA. In MBA too, we have MBA in Finance, MBA in Global Business and we have planned for MBA in HR....',
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	(int) 13 => array(
		'Article' => array(
			'id' => '471',
			'article_category_id' => '40',
			'title' => ''MBA Has Become Competitive Now' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="" border="2" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/dev raj adhikari.jpg" style="width: 190px; height: 245px;" vspace="10" /></span><span style="font-size: 14px;"><b>Prof Dr Dev Raj Adhikari</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Head, Central Department of Management</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Tribhuvan University</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The growth you are talking about is the growth of management education. Four universities namely Kathmandu, Pokhara, Purbanchal and Tribhuvan University (TU) - the oldest one in the country - are contributing to the growth of management studies. Along with the growth in number of students and faculty, there is also the growth in demand for the products in the market. Market is also growing. Currently, we can see quantitative growth but there is impressive qualitative growth too. Recently, a report of Ministry of Education has revealed that the number of students going for foreign education has dropped. Management education has grown both qualitatively and quantitatively.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What are the emerging trends in management studies?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We are talking about globalisation today. That automatically reflects in our curriculum. Our curriculum cannot always be taught in the same old traditional methods because our students have to compete in the international market. The demand is growing for&nbsp;change and advancement in the management studiesâ€™ curriculum. The teaching-learning model also needs to be reformed. Some schools have adopted really good methodology but in our MBS, we have not been able to achieve the global standards due to a large number of students.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">The teaching-learning methodology is often criticised for being traditional. How have the management schools tried to change the traditional practices?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Some of the institutes are practising methods like project works, case studies and participatory techniques in classrooms. They are encouraging team work and group work. Students are often taken for industrial tours and field visits. Professionals and entrepreneurs are giving lectures while visiting faculties are being sourced from foreign universities. These are now being practised in Nepali colleges. They are trying their best because they are getting money and need to satisfy the parents and students. I have seen bank CEOs addressing the classes. Some institutes even have the system of dual faculties in which one is academician while the other may be a professional. Academician teaches theory while the professional shares his real work-life experiences. He may be the HR director of a certain bank or even a CEO. Now, MBA has become competitive. Market will judge in the future if one can or cannot deliver. Teaching-learning method is not that much traditional as in the past. In MBS, traditional method is also being used. The most popular method in the world is the lecture method. When the classroom is small and focus is on a particular group, we can go for case studies, game theories, project works, participatory techniques, create decision making opportunities. But in a large class, the same is not possible. It is being traditional because we donâ€™t have environment to use new tools and pedagogy. Some classes are traditionally run but the cases have changed a lot compared to the past. In the coming ten years, there will be a lot of changes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is our competency compared to the level of regional and international universities?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is very difficult to say what exactly is our competency compared to other universities, especially those in India. Currently, in the growth of Indian management education, quality is especially seen in state universities and management institutes like IIM, Ahmedabad. We have not reached that level of quality in education. Here, Pokhara, Kathmandu and Purbanchal universities are leading in MBA. They have changed with time and have created the course well with a lot of planning but so far the implementation is missing. We are lagging behind in regional and international perspectives. But the TU MBS can be easily compared to Indian quality. Curriculum is good and our MBS course can be compared with good universities in India. So, what we can safely say in MBA we still have to do a lot of things because growth in business here does not have the same pace as in India. Our internship level can by no means be compared with theirs. We have also not been able to provide facilities and educational environment that Indian MBA students get. In such a case, we canâ€™t compare with them. Nevertheless, we are trying our best; our universities are trying for something similar.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Are our colleges, courses and degrees internationally recognised?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">TU is recognised worldwide as the largest university of Nepal. Any masterâ€™s degree holder from TU need to do further studies if he wants to pursue further studies in the US. MBS graduates again need to do MBA there. In USA, to do an MBA, one must compulsorily have two years of work experience but it does not apply here. And they must also appear in GMAT. Here one can directly join MBA after bachelorâ€™s degree. So, there is no direct recognition but our education is not derecognised anywhere in the world. Though they donâ€™t give exact equivalence, after completing some credit hours and some courses, our degrees are recognised well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is our curriculum targeted at â€“ producing job seekers or job creators?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We should try to develop professional entrepreneurship as well. It is engraved in our culture that after completion of studies, everyone must do some kind of job. Everyone expects to get a good job. But there are some students who really want to develop as a professional or an entrepreneur. Some of my own students are aiming to create jobs through their entrepreneurship. More than 95 per cent students are job seekers either in national, Indian or international markets. But only a few are willing to develop as a professional or an entrepreneur. Some MBA students have even established their own cooperatives and finance companies.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How does the management course bridge the gap between real life workplace and the lessons taught in classrooms?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We need good teaching-learning method to bridge the gap between classroom and the workplace. The environment in the class must be such as the students can begin working immediately after completing the education and can adapt to the work environment. Similar kind of pedagogy, customisation and workplace-friendly curriculum must be selected. Then, we need the curriculum in accordance to the business expectation. That will bridge the gap between the classroom and the workplace otherwise there will be a difference always. If we can not bridge this gap, organisations will have to invest a lot in training and development of the new recruits from the management stream. So, these days, management colleges are focussing on training for a banking career to MBAs as the banking and finance sector is our major job market. If the gap is to be bridged, we have to make the classroom workplace friendly and design the curriculum accordingly. We have that curriculum but if we also have the similar delivery we can minimise the gap.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How do you see the current trend of colleges being affiliated to foreign universities?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">If you look at it through competition and curriculum, our local universities are in forefront. If you compare the foreign university curriculum with Nepali counterparts, we have a much better curriculum. Nepali universities are already customised with local environment while Indian university cannot be customised. You have to run according to their curriculum. Our curriculum is customised according to our culture, system, economy, situation, need and expectation. That way our curriculum is excellent and those courses have not proven any threat to us. But that does not mean it is time to stay idle. The way foreign universities are coming, they have changed the teaching-learning method. Concept of dual faculty has been introduced in Indian university affiliated colleges. It is a challenging system. That will challenge us in the future. British, American and Indian universities are willing and are coming to Nepal. However, they are mostly offering distance education, so far. Till date, we have a strong curriculum and we are not facing any threat from universities.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Most of the leadership positions in the private sector banks and corporate houses are being held by MBA graduates from foreign universities. How do you react to this?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Companies must have found some difference in these foreign graduates. They must have certain unique personality and knowledge. But that knowledge, skill, efficiency will be transferred gradually to ours too. This will not be the same forever. In the days to come, Nepali MBA graduates can also do that. It is only a matter of time. It may take a few years or a few decades. India has a long history in management studies and MBA while we have just begun teaching MBA. Such things are not negative. We can learn from them and analyse what we lack and what special they have got. Students must self actualise and they can develop themselves accordingly.</span></div>',
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			'description' => 'The growth you are talking about is the growth of management education. Four universities namely Kathmandu, Pokhara, Purbanchal and Tribhuvan University (TU).....',
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			'id' => '470',
			'article_category_id' => '40',
			'title' => ''Corporate EntitiesKnow The Importanceof Having MBAs' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><img align="right" alt="" border="0" height="192" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/dr bijay kc.jpg" style="width: 159px; height: 192px;" vspace="10" width="159" /></span></p>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><b>Dr Bijay KC</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Faculty Prof and Dean</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">South Asian Institute of Management (SAIM)</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal? How do you think itâ€™s going to shape up in the foreseeable future?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">I have been quite satisfied with the way things are. A good number of management schools have come up in recent years because there is a huge demand for management graduates in the job market. However, I must admit that we must adapt ourselves to the fast changing scenario of business education. The schools should also become receptive to the needs of the business enterprises because ultimately itâ€™s they who are going to provide employment to the students graduating from these schools. I also feel that the government should take an initiative to come up with a new university that will specialise in management studies. At the same time, such a university should permit only such schools and colleges that have proven themselves in the field of management education. Another important aspect is that the faculty of business schools must have a say in matters related to examinations and quality control because they best understand the needs of the students.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Is the Nepali business schoolsâ€™ curriculum well prepared to meet the demands created by globalisation? What is SAIMâ€™s curriculum targeted at â€“ producing job seekers or job creators?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We, at SAIM, offer a programme called MBA Global Business in affiliation with Pokhara University which, fundamentally, exposes our students to global management practices. We do have some courses on entrepreneurship which are targeted at developing job creators of the future but a majority of the students prefer to join different sectors as professionals. As for a job creator, an entrepreneur must also have some knowledge on marketing, finance and resource etc. But I do realise that to make our programme more entrepreneurship-oriented, we need to have more courses included in the curriculum by our parent university.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Could you tell us about the teaching methodology at SAIM? Are the students forced to study foreign cases primarily because there is a dearth of home-grown cases?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Yes, we mostly use foreign case studies and I see no harm in using those. These cases are actually very good and a management educationâ€™s basic purpose is to develop the skills of the students. We do have a few good home-grown cases which we use. You must understand here that good case studies are hard to come by and writing them is not an easy job.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Some corporate houses are sponsoring their fresh employees to study in foreign colleges. Do you think there is a lack of trust, on their part, in the quality of our colleges and curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">I think more than anything else it is to make their employees gain further knowledge and equip them better. If they didnâ€™t have faith in the quality of education we offer, they wouldnâ€™t hire them in the first place. My feeling is that management education is a lifelong asset for the students. Getting an MBA degree does not mean that the students know everything about management. My recommendation to the corporate houses is that after three-four years of work experience, they should look at sending these students for further studies abroad.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">A lot of students are going abroad to pursue management degrees? Why are the local colleges not able to retain them here?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The fact of the matter is that, now-a-days, a lot of Nepali students want to pursue management degrees. Itâ€™s a classic case of demand overwhelming supply as the number of seats available in Nepalâ€™s business schools is not adequate to accommodate all these management degree aspirants. We understand that there is a need for more business schools and more seats. At the same time, we cannot afford to compromise on quality. Among the many business schools operating in Nepal, there are only about four or five of them providing quality education. This limited number of colleges can accommodate around 200 students at best. Itâ€™s but obvious that a lot of students not finding a seat in these colleges will look to go abroad. Besides, some good students may get admission to world renowned business schools like IIM or Harvard, for example. In such cases, we cannot be unfair and ask them to stay back in the country for our own selfish reasons.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How suitable is your curriculum for the typical business environment of Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The basic concept of management education is the same around the world. For example, a course on inventory management is same whether in the US or here in Nepal. A lot of cases provide a wider perspective of problems therefore; we look at applying them in the context of Nepal. In some cases, we have to resort to modification to suit the business needs locally.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Why do you think there is tremendous attraction to business studies these days?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is because of the job opportunities available to management graduates in recent times. In the last decade-and-a-half or so, corporate entities have realised the importance of having them in their ranks. It has become relatively easier for MBA graduates to start professional careers based on their education. Besides, these graduates have performed and proved themselves at their respective workplaces which have compelled companies to hire suitably qualified management graduates. So, job opportunities coupled with career enhancement prospects have been instrumental in attracting scores of students towards business studies of late.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Do you think MBA graduates from Nepali business schools are paid lower than they deserve?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As far as remuneration is concerned, it basically differs from company to company. From the companiesâ€™ perspective, if they want to have bright students working for them, they must be prepared to pay handsomely to attract them. What also matters is an individualâ€™s ability, he/she must be prepared to perform and prove his/her worthiness to command better remuneration. Having an MBA does not automatically guarantee an excellent pay. I am sure even if some students may begin their careers by agreeing to work for a package that is less than their expectation levels, they can always prove themselves first and then demand a better pay package.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Tell us the way you go about campus recruitment at SAIM.</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">At the end of the two-year programme, we prepare profiles highlighting academic background and credentials of all students that are passing out and distribute the profiles among the interested companies. A lot of these companies evince interest in particular individuals so we act as a link between the two. Itâ€™s both established companies as well as upcoming ventures that hire our graduates.</span></div>',
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			'title' => 'UFO: Pay Less Expect More October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;">One of the vehicles imported and marketed in Nepal by Constant Business Group is UFO. It is an SUV manufactured by Chinese automobile company Jonway. Though the vehicle is made in China, it makes use of Mitsubishi engine and gearbox. The company has targeted the vehicle to those who want to switch from a sedan or a hatchback to a SUV. According to the company, UFO is very affordable and gives more value for money.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The 2011 model looks modern and stylish that is sure to get attention with its unique and fashionable outlook and its price-performance ratio. The crystal headlights look brilliant and have very powerful illumination that greatly improves driving safety at night. The beautifully designed LED taillights also correspond to the headlights. The integrated design makes the body look more stylish.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The inside of the vehicle is very roomy, a wide cabin that allows freedom. The five-seater vehicle has manually adjustable seats for extra comfort and also has ample storage area. There are features like power mirrors, keyless entry system, reverse sensor and power windows. The vehicle is also equipped with dual airbags, a powerful air-conditioner, front and rear fog lamps, power steering and steering audio controls.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The latest Mitsubishi engine has excellent power performance and provides stable and smooth acceleration. The 1.6 liter 4G18S engine produces a maximum power of 74.2 KW at 6000 rpm and a maximum torque of 134 Nm at 4500 rpm. The vehicle can attain a maximum speed of 150 km per hour. The vehicle has a 5-speed manual transmission that provides quick and smooth shifting while maintaining the stability at the same time.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">UFO is equipped with disc brakes on all four wheels that can resist higher temperature and have more reliable stopping power so that the vehicle functions safely. The body of the car is designed is such a way that it can effectively absorb energy of a collision and disperse it throughout the frame to every part of the body. This prevents the deformation of the cabin at the event of collision and protects the driver and passengers.&nbsp;ABS is also incorporated in the vehicle to add to the safety.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The company claims that the vehicle gives a mileage of 12-14 km/l in the city and 16 to 18 km/l on the highways. The company has already sold 96 units of UFO. UFO, with all these features can be yours at a very affordable price of Rs 2,825,000. The company is giving out a warranty of 2 years or 35,000 kms, whichever is earlier.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>',
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			'description' => 'One of the vehicles imported and marketed in Nepal by Constant Business Group is UFO. It is an SUV manufactured by Chinese automobile company Jonway....',
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	(int) 1 => array(
		'Article' => array(
			'id' => '486',
			'article_category_id' => '50',
			'title' => 'Business Of B-Schools October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><img align="left" alt="Business - B" border="1" height="346" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/feed.jpg" style="width: 256px; height: 346px;margin:10px;padding:10px;" vspace="10" width="256" />It is good news that management education is flourishing in Nepal. In last one and a half decades, after Kathmandu University launched its MBA, a lot of management colleges have started offering management degrees. A lot of them have been successful in their mission and produced quality human resources. However, prominent positions in Nepali corporate houses are dominated by foreign university graduates. This somewhere underlines that our graduates are not as good as those coming from foreign colleges or at least the employers have this perception.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">The teaching-learning methodology and the educational environment in Nepal are much criticised by the teachers of management colleges. They are the ones who are responsible to improvise new methodologies to meet the kind of current demand and need. It will be better if they can implement the best practices of foreign universities. However, the trend is gradually shifting lately in new management colleges. In most colleges, though they claim modern methodology is being used, the teaching is limited to lectures only. The quality of teachers can be questioned after their failure to revolutionise the classroom. On the other hand, students are not much prepared for modern day classroom activities. They have been passive learners since their schools days and most of them do not have any work experience as they are straight out of the undergraduate colleges.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Teachers are treating teaching merely as a job, forgetting their professional ethics and responsibilities. They reach almost half a dozen colleges every morning to teach. They completely lack self-study and research practices. Though professors are expected to engage in research activities, only a handful of them are pondering over research and innovations. In some cases, teachers are unable to answer the queries raised by students.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">So, only the course material will not do miracles until delivery of it is revolutionised. For that, teachers will have to be competent and business schools should rise above their profit motive and realise the responsibility to improve the quality of education. Business schools should not be established only for business but also to meet the demand of the evolutionary business environment.<br />
	<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Rohit Shrestha</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>New Baneshwor, Kathmandu</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<hr />
<h3 style="color: blue;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Telephone Boom</span></span></h3>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Lately, Nepal's telecommunication market has grown tremendously. Almost 50 per cent of the population now have access to telecommunication services though largely dominated by GSM mobile telephone. Now rural areas are being slowly covered by the network of either NTC or Ncell or rural telecom operators.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Constantly declining cost of services and communication devices has attracted a lot of new consumers. Compared to the mobile telephone service, Internet has still not reached a substantial number of people. Users of Internet are largely concentrated on urban centres. However, the services like 3G and GPRS/EDGE has gathered huge number of mobile Internet users. With the advent of smartphones, trend of using Internet on mobile is growing both nationally and internationally.</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Still, a large chunk of population i.e. around 50 per cent population does not directly have access to such services. But this population includes children and those who use telecommunication indirectly from home telephone or use devices of family members and friends. This is the market segment everyone is trying to tap both network operators and handset makers. If their marketing strategy succeeds, the number of consumers is certain to increase. Looking at the growth trend and usage pattern, it is certain that more Nepali people will have greater access to telecom and Internet services in the future.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Prativa Panthi</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>Pokhara</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<hr />
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>&nbsp;</b></span></span></div>
<h3 style="color: blue;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Workplace Harassment</span></span></h3>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Workplace harassment - either in psychological or physical form - is reported in all organisations. . Most common harassment is sexual as established by various studies. In many cases the complaint against harassment is resolved within the company while some cases reach the court. In Nepal's case, they rarely reach the courts though there is legal provision for this. Most often, such problems are solved within the organisation and common disciplinary action is firing the accused. Experts say this is not the best action as such provision encourages employees to take advantage of the system. Any workplace harassment must be discouraged at any cost and strong actions must be taken by the organisation as well as such cases should be taken to the courts. Employee's behaviour and preferences must be well understood while dealing with them as someone might feel harassed by similar approach while for others it could be completely normal. Companies must be careful to avoid such harassments at the workplace and should take more care while hiring new employees. Along with the company, employees themselves have to maintain a discipline that makes the working environment safe and healthy.<br />
	<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>- Purna Bogati</b></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><b>Bhaktapur</b></span></span></div>',
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			'title' => 'The Financial Policing October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The central bank, Nepal Rastra Bank (NRB) has recently indicated that it would tighten the grip on the financial criminals not only by introducing more effective regulation and supervision policies, but also by acting as the enforcer of these policies.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	The NRB has chosen to take up the role of arresting the financial criminals in direct co-work with police.&nbsp;Instead of earlier arrangement of going through the Ministry of Finance (MoF) with a suspect lists and the line ministries passing out buck from MoF to Home Ministry, from Home Ministry to District Administrative offices and then to the District Police, this NRB initiative would surely shorten the process of apprehending the absconded ones. It is reported that the MoF has given consent to NRB to directly deal with the police to initiate the process of arrests. Similarly, NRB is also reportedly formulating a policy to liquidate those financial institutions whose promoters or executives remain absconded for long.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<img align="right" alt="" border="2" height="397" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/edit.jpg" vspace="5" width="350" />In light of the growing incidents of abscondence of the promoters and executives of some development banks and finance companies, the NRB move appears a welcome one.&nbsp;It is also true that in Nepal among all the criminals, the financial ones largely remain scot free by using every possible influence including, may be, money.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	Such NRB activism also seems convincing vis-a-vis the central bank's responsibility of maintaining financial system stability in the country. But the core question here is: will these moves actually contribute the promotion of corporate governance in this sector? And, do these schemes fit in the concept of â€˜slim and smart central bank focused on its core functions?</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	Unquestionably, the criminals must be brought to book and justice delivered. But NRB initiating the legal process on its own will have several other ramifications. First, it must have a stronger and larger legal department. Second, the government dealing directly with the law-enforcing agencies is always more effective. And, third, as the experiences have it, the problem in apprehending the allegeds lies largely in the police functioning. At that crucial point, NRB move may falter. NRB cannot be expected to be able to change the attitude and modus operandi of the police.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Also the very idea of liquidating the entire institution just because a fraudulent person, who happened to be a decision maker, remained at large is not at all justifiable. One of the cardinal responsibilities of the NRB is to protect the depositors interest first, which in turn, facilitates the system stability. If any promoter or executive flees away, the moral responsibility should also be taken by the NRB as well. And, as the regulator, the decision of liquidating the financial institutions must be based on the financial health of the institution and its future viability. Let's not forget that there is a specialised legal mechanism already in place to deal with corporate liquidation/bankruptcy. The clients have made no mistake by doing business with the NRB licensed and supposedly supervised companies and they must not suffer for the fault of somebody else.</div>
<div style="text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	The NRB must understand that it can neither escape from its responsibility of maintaining the financial stability by enhanced regulation and supervision nor should it be turned into a police like organisation.</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-31',
			'keywords' => '',
			'description' => 'The central bank, Nepal Rastra Bank (NRB) has recently indicated that it would tighten the grip on the financial criminals not only by introducing more effective..........',
			'sortorder' => '395',
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	(int) 3 => array(
		'Article' => array(
			'id' => '483',
			'article_category_id' => '41',
			'title' => 'A Walk Through Central Depository System',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="sectorial" border="1" height="128" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/homnath gaire.jpg" style="margin:10px;padding:10px;" vspace="5" width="100" />By <strong><u>Homnath Gaire<br />
		<br />
		</u></strong></span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size:12px;">In a nut shell, Central Depository System (CDS) is an electronic book entry system to record and maintain securities and to register their transfer. In CDS, ownership will be changed without physical movements of securities or execution of transfer deeds. The ownership will be transferred as soon as securities move from one account to another. CDS is purely a settlement vehicle and will not affect the trading in any manner whatsoever. It is expected that the CDS will bring tremendous efficiency and growth in the capital market of Nepal. It will also enhance the image of Nepal's capital market globally. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Participants of CDS:Account Holders<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Account holders are divided into two categories - account holders and participants. Both account holders and participants will have direct access to the CDS. Account holders will be allowed to have a main account and a house account for their beneficially owned securities. Participants, however, will be entitled to have client accounting facilities within the CDS. In addition to main account and house account, participants will be allowed to have sub accounts and group client accounts. In short, the participants can provide custody services to their clients whereas account holders can keep only their beneficially owned securities in CDS.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><img align="right" alt="sectoral" border="1" height="350" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img(7).jpg" style="margin:10px;padding:10px;" vspace="5" width="252" />"Beneficial Owner" means the person who have opened their Beneficial Owner Account with Central Depository Company for depositing their securities or instruments and who have held the securities and instruments which are capable of being deposited in de-mat form.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">All the members of stock exchanges, banks (both commercial and investment), and development financial institutions (DFIs) are allowed to open their account as participants whereas corporate bodies such as leasing companies, investment companies and insurance companies can open their account as account holders.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Issuers/Registrars<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The issuers of capital whose securities are converted from physical to electronic book entry system play a significant role in CDS. They will also have direct access to the CDS. After a security is declared eligible for the purpose of CDS, necessary software is provided to that particular issuer upon signing the issuer's agreement with central depository company (CDC). The shares are entered into CDS only after proper verification by these issuers or their registrar. This process eliminates the problem of fake/duplicate/lost/stolen share certificates as issuers thoroughly check them before approving for CDS.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong>Eligible Pledge<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Financial institutions that lend against securities will have their account with CDS in the capacity of eligible pledges. These institutions will also have direct access to CDS and will be provided with necessary connection in this regard upon signing the pledge agreement with CDC. Their clients will be able to pledge their electronic book based securities in CDS. Once the securities are pledged in the CDS, the control over those securities is transferred to the eligible pledgee in the form of pledge release/call. Nevertheless, the beneficial owner will continue to get the benefits of corporate action on pledged securities.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><strong><img align="left" alt="sectoral" border="1" height="228" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img1(4).jpg" style="margin:10px;padding:10px;" vspace="5" width="350" />CDS Account Structure:<br />
	<br />
	</strong></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The account holders of CDC will be able to settle their transactions within the CDS through five types of accounts, namely:<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Main Account:</b> Each account holder in the system will be allocated a main account by virtue of being an account holder in the CDS. This account will mainly be used as a transit account for movement of securities. Any security coming in or moving out of an account holder's family of accounts will pass through this account.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>House Account:</b> Used for securities owned beneficially by account holders. "Beneficial Owner Account" means De-mat Account (electronic account) opened with Central Depository Company through Depository Participant in order to deposit securities by the Beneficial Owner and which is distinguished by a unique account number.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Sub-account (Client Account):</b> This account is used for keeping securities belonging individually to each of the clients of an account holder. An account holder may open and maintain any number of sub-accounts he requires on behalf of his clients.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Group Client Account:</b> This account is used for keeping securities which are beneficially owned by the account holder's client. It will be used for clients who are not willing to utilize the facility of opening separate sub-accounts. The account holder will group all such clients in his/her group account. The detailed break-up of the securities held by each client of a group account will be held by the account holder and no such record will be maintained by CDC. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Cash Account: </b>Each account holder in the system who opts to avail the Delivery vs Payment (DVP) facility will be required to deposit relevant amount to be used for the settlement of DVP obligations.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">CDS-Operation<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b><img align="right" alt="" border="2" height="335" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img2(4).jpg" vspace="5" width="350" />The main operations performed in the CDS are as follows:<br />
	<br />
	</b></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Deposit of existing and new securities in the CDS. Once a security is declared eligible by CDC, the physical certificates of that security will be deposited in the CDS for conversion after which they will be available for further transfers within the system. Following is the procedure to deposit securities in the CDS:</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">To begin with account holder will initiate the deposit request by entering the details of share certificates into the system, and securities deposit form (SDF). CDS will generate computer printouts of the transaction. Transfer deed will be executed in favor of CDC. Account holder will then send the relevant share certificates, transfer deeds, SDF and the computer printouts to the relevant registrar. The registrar after verification will either approve or reject the transaction within five days from the receipt of the documents. Registrar will update CDC nominee share holding in the member's register, cancel share certificates and transfer deeds, and return the relevant documents (other then canceled share certificates and transfer deeds) to applicant account holder.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Withdrawal of securities <br />
	from the CDS:<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The account holder will initiate the withdrawal request by entering the relevant details into the system, and securities withdrawal form (SWF). CDS will generate computer printouts of the transaction. Account holder will then send the SWF and the computer printouts to the relevant registrar.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">The registrar after verification of the balance will either approve or reject the transaction within five days from the receipt of the documents and update CDC nominee share holding in the member's register. Registrar will return the relevant documents and share certificates to the applicant.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Prepare share certificate (Jumbo certificate): <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Free Transfer -</b> Book entry transfer of securities without any associated cash movement. This is a unilateral transaction in which an account holder can deliver securities to any other account holder in CDS. Although the beneficial ownership of securities changes as securities move from one account to another, there is no stamp duty involved and the transfer is on the spot.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Pledge/Release/Call -</b> Pledging securities in favor of a lender which can only be released or called by the lender. This function will greatly benefit the financial institutions by reducing risk of fake share certificates and paperwork to a great extent. </span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Stock Borrowing or Lending through the CDS: <br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Corporate Action - </b>In case of bonus issues, rights issues, sub-division, consolidation and any other action that changes the number of securities held in a participant's account or involves the determination of entitlement to beneficial owners, CDC shall provide relevant details of account holders and sub-account holders to the issuer. The CDC will also provide details for the purpose of notice of general meetings and other notices/communications.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><b>Delivery Versus Payment (DVP) - </b>DVP is a bilateral transaction or book entry transfer of ownership of a security in exchange for payment to settle a transaction. The deliverer of the securities will initiate the DVP request on CDS specifying the details of securities and payment.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Upon acceptance of the receiver, CDS will debit deliverer's securities account and credit receiver's securities account. Likewise, CDS will debit receiver's cash account and credit deliverer's cash account. Cash only moves from one account to another without any associated securities movement. </span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-09-17',
			'keywords' => '',
			'description' => 'In a nut shell, Central Depository System (CDS) is an electronic book entry system to record and maintain securities and to register their transfer. In CDS, ownership......',
			'sortorder' => '393',
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	(int) 4 => array(
		'Article' => array(
			'id' => '480',
			'article_category_id' => '57',
			'title' => 'Brand Nepal In NTY 2011 October 2011',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<strong><span style="font-size: 14px;"><img align="left" alt="" border="1" height="182" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sajag karki.jpg" style="width: 141px; height: 182px;margin:10px;padding:10px;" vspace="10" width="141" />By Sajag Karki</span></strong></div>
	<div style="text-align: justify;">
		<span style="font-size: 14px;"><br />
		</span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Naturally Nepal is the tagline used by Nepal Tourism Board (NTB) to promote Nepal Tourism Year 2011 (NTY). It is hard to say whether a mere tagline with hardly any promotional activities can fulfill its ambitious plan of attracting one million foreign tourists to the country this year. Though the year opened with a bang with the campaign's promotion and big commitments made by its stakeholders, all the fizz surrounding the announcement of NTY has come to an end with less than four months remaining of the year. The campaign took off quite well but vanished in thin air. It would have been an excellent branding opportunity for Nepal and positioned it as an ultimate destination for various tourism activities such as adventure, culture, spiritual, religious and wildlife. Sadly, this has not been the case. Instead of tourists flowing to major destinations of Nepal, it seems that neither the tourists nor the tourism sector have benefited significantly by the government's so-called plan to take tourism sector to greater heights by observing NTY 2011.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is quite sad that a campaign initiated by the government falls flat when it comes to implementation. A tourism year is supposed to be full of promotional activities but there has not been a single TV commercial (TVC) created for its advertising which is very surprising. How are potential tourists supposed to know about the various destinations and activities in Nepal? Every country and place has its own specialty such as Egypt has pyramids, Thailand has lovely beaches, Italy has romantic destinations, and so on. Similarly, Nepal specializes in picturesque natural beauty, cultural richness along with ethnic and bio-diversities that can make tourists spellbound alluring them to visit Nepal again and again.&nbsp;&nbsp; </span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="brand" border="1" height="170" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/nty(2).jpg" style="width: 289px; height: 170px;margin:10px;padding:10px;" vspace="10" width="289" />Nepal can learn from other Asian countries like neighboring India, Malaysia, Singapore and Thailand that have focused a lot on country's branding and have offered visitors with various attractive packages. They have communicated their country's story via various promotion channels and have created a niche of their own. Some popular promotions include Malaysia â€œTruly Asiaâ€, Amazing Thailand etc that are being broadcast on major TV channels. India has gone even further with state branding to encourage the tourism flow to their respective states such as Rajasthan, Uttarakhand, Kerala, Gujarat, Orissa etc. Massive promotion budget has been spent with big celebrities such as Amitabh Bachchan being brand ambassador of Gujarat Tourism. Similarly, Nepal needs to narrate an anecdote of its own to let interested ones know about this beautiful country. The rich cultural heritage, the spirit of the Himalayas and the adventure tourism aspect can all be elements of the Nepal's tourism story. Even better would be branding for specific destinations such as Pokhara and Chitwan, positioning each differently to cater to the needs of tourists of all demographics. Pokhara can be promoted as the happening place with natural beauty, adventure sports such as paragliding and salubrious environment to rejuvenate and relax. Similarly, Chitwan can attract tourists for its wildlife resort, elephant safari, camel rides and Tharu ethnical cultural shows.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It can be said that Nepal hasn't exploited its tourism potential and more importantly has not been promoted the right way. Promotion activities can be done targeting each segment of tourists by highlighting the attributes of the various exciting places of Nepal. In addition, NTY could further boost sales as special privileges could be given during this campaign. Further benefits should be given to tourists who wish to visit in the year 2011. Discount of hotel reservations, special packages on airfare and accommodation along with some freebies will no doubt attract numerous visitors. Moverover, the benefit of visiting Nepal this year as compared to other years should be communicated clearly or else it will just be like any other ordinary year. </span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Though some efforts have been made by the private sector, this miniscule yet encouraging act must be backed up by robust government spending as it can, apparently, generate revenue for the nation. The promotion should be done on a government level not only by the private organizations. Despite various political, economical and financial barriers faced by the country, there is still enormous scope for a naturally gifted place like ours to excel in the tourism sector. The opening ceremony of NTY was marked with huge enthusiasm and support from all sectors as even political parties vowed not to organize bandhs as it would have an adverse effect on the tourism campaign. Despite all the bottlenecks, there is still hope to revive the economy through branding of the Nation-Nepal as a visitors paradise. Being a Nepali citizen it is also our responsibility to encourage domestic tourism and spread good word about it to the world. Let's celebrate the spirit of NTY 2011!!!</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;"><br />
	</span></strong></div>
<div>
	<div style="text-align: justify;">
		<strong><span style="font-size: 14px;">(Karki is currently associated with JWT (Thompson Nepal). The article is based on research and author's practical experience as a marketing professional. He can be reached at sajag_karki@hotmail.com)</span></strong></div>
</div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-11-01',
			'keywords' => '',
			'description' => 'Naturally Nepalis the tagline used by Nepal Tourism Board (NTB) to promote Nepal Tourism Year 2011 (NTY). It is hard to say whether a mere tagline with hardly.......',
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	(int) 5 => array(
		'Article' => array(
			'id' => '479',
			'article_category_id' => '42',
			'title' => 'Waiting For 350(October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<h3 style="color: blue;">
	<span style="color:#800000;"><span style="font-size: 12px;">(Nepal Stock Market Review for 22 Aug â€“ 20 September, 2011)</span></span></h3>
<p>
	<span style="color:#800000;"><br />
	</span></p>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>By Bikram Chitrakar<br />
		<br />
		<br />
		</strong></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">The Nepse Index needs to cross 350 to inspire the investors, shows this analysis. With Nepse Index continuously sliding down, the month striding over August-September period was a month of decline in the Nepali bourse. This was in spite of healthy earnings reports and dividend declaration by the companies. The entry of Maoists as the leader of the government helped in sending the mood in the exchange down because of lack of clarity about the policy of the new government. The benchmark Nepse index plummeted 29.76 points or 9.30 per cent to respite at 320.08 during 22 August-20 September. While the highest points for the period was on 22 August with 349.84 and the lowest was on 19 September with 317.70. <br />
		<br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Investors were unsatisfied with the rate of dividend declared by different financial institutions as the proposed dividend could not meet the expectations of the investors. Dividend proposed by Standard Chartered Bank is 50 per cent (cash) while that of Nabil is 30 per cent (cash) only. Both missed the expectation of the investors.<br />
		<br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" height="265" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock.jpg" style="width: 426px; height: 265px;margin:10px;padding:10px;" vspace="5" width="426" />However, the investors have not lost all the hopes as yet because the process to improve the regulatory environment is still going ahead. The Securities Board of Nepal (SEBON) has granted license to Central Depository System and Clearing Ltd as per CDS regulation 2067. Now it is expected to start operation after the Dashain festivals are over. Similarly, the newly licensed 16 stock brokers also started transactions. With this the number of stock brokers has increase to 39, providing the investors expanded opportunity to choose their broker. </span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock1.jpg" style="margin:10px;padding:10px;" vspace="5" />Another noteworthy event of the month was the Money Expo organized jointly by Aarthik Abhiyan and Jamb Technologies with Minds Nepal and Morningstar Investment Services Pvt. The 3-day event called "NDEX Money Expo 2011" concluded on September 14 is believed to have helped to promote investment opportunities and tools. Experts from both India and Nepal participated in various discussion programs held during the Expo on topics related to the economy, stock market, commodity market, central depository system, investment banking and so on. In one of the programme, Tanka Prasad Paneru, chairperson of Nepal Stock Exchange opined that the Nepali stock market on that week was in a correction phase and it will gallop after crossing that level.&nbsp;</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>Performance by Sector</strong></span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><img align="left" alt="stocktaking" border="1" height="267" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-stock2.jpg" style="margin:10px;padding:10px;" vspace="5" width="400" />Commercial banking sector holding the heavy share of trade volume in Nepal Stock Exchange dived down 44.32 points or 16.24 per cent to settle at 272.95 during the review period. Insurance sub-index lost 20.75 points to come down at 398.73. Similarly, hydropower sector descended 18.14 points along with 15.80 points decline in finance sector to arrive at 549.23 and 276.24 respectively. Others sector plummeted 8.23 points or 1.74 per cent to close at 472.34 while development bank group ebbed out 5.97 points to rest at 279.92. However manufacturing sector added 20.24 points or 3.33 per cent to reach 607.47 while trading sector gained 4.11 points to rest at 246.08.</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Sensitive index that measures the performance of 117 blue chips scrip at secondary market lost 8.73 points or 11.19 per cent to reach 78.01 while the float index calculated on the basis of real transaction skid 3.31 points to arrive at 26.38. Total of Rs. 493769430 was realized during review period from 2279903 units of share trade via 25195 transactions.</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">The accompanying figure demonstrates the sector-wise distribution based on total amount of trade. Banking sector accounted for 58.87 per cent of total trade followed by development bank sector (13.49 per cent) and finance sector (8.10 per cent). The rest was accounted by the remaining sectors. </span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><br />
		</span></div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Technically, Simple Moving Average (SMA) is shabby in both long term and short term. Both 30 days SMA and 200 days SMA are dominating the market with no clue of further correction shortly. Breaching the level of 350 is required for acceleration.<br />
		<br />
		<strong><br />
		</strong></span></div>
	<div style="text-align: justify;">
		<strong><span style="font-size:12px;">(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)<br />
		<br />
		<br />
		</span></strong></div>
</div>',
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			'created' => '2011-10-11',
			'modified' => '2012-09-16',
			'keywords' => '',
			'description' => 'The Nepse Index needs to cross 350 to inspire the investors, shows this analysis. With Nepse Index continuously sliding down, the month striding over August-............',
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	(int) 6 => array(
		'Article' => array(
			'id' => '478',
			'article_category_id' => '48',
			'title' => 'Nepal In 10 Years (October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div style="text-align: justify;">
		<strong><img align="left" alt="nolaughingmatter" border="1" height="173" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3(3).jpg" style="width: 143px; height: 173px;margin:10px;padding:10px;" vspace="5" width="143" />By Madan Lamsal</strong></div>
	<div style="text-align: justify;">
		<strong><br />
		</strong></div>
</div>
<div style="text-align: justify;">
	Where will Nepal be in 10 years? Many may imagine that in next ten years, Nepal will also become like Afghanistan or Somalia where no good people can stay. But I feel otherwise. In 10 years, Nepal will be at par to fully developed countries and livable like a heaven. At least the words and actions of Nepal's business community, government and the main political leaders clearly indicate to that.</div>
<div style="text-align: justify;">
	<br />
	In recent years, many of Nepali entrepreneurs have proved themselves very innovative in businesses by selling sweets to cereals and setting-up restaurants to bottling water plants. Nepal's private sector has shown a true entrepreneurial spirit.&nbsp;They know how to exploit the ignorance of common people by taking advantage of true free market of Nepal, regulated by none but only Lord Pashupatinath.</div>
<div style="text-align: justify;">
	<br />
	<br />
	The foreigners must be watching all these developments with very keen interest. Therefore, within 10 years Nepal will receive thousands of foreign direct investments (FDI). Because, foreign investors have already seen that there is almost zero FDI in this country except few Indian joint ventures companies struggling here to breathe. Therefore, it is a virgin land for them to invest. Foreigners may have also observed that Nepali workers have been working in foreign countries with paltry salary and they are so loyal there. If these very Nepalis are given jobs in their homeland they will definitely be happier and more loyal to the FDIs. Moreover, the new Finance Minister, who <img align="left" alt="nolaughingmatter" border="1" height="414" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-no laugh.jpg" style="margin:10px;padding:10px;" vspace="10" width="350" />is said to be the man with action or man with a gun, has already said that year 2012 will be the ' Year for Investment '.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	In 10 years Nepal plans to attract more than 20 million tourists a year. Because two years ago Prachanda, the then PM of the Maoist government had announced that Nepal will receive 2 million tourists in 10 years time. Again Maoist is in the power now. So we can definitely hope that they will force many tourists to visit Nepal. They will visit Nepal as well as they do to Vietnam or Russia to see the truly endangered disciples of Lenin and Che Guevara. Tourists will not visit Nepal only to see mountains or for trekking but to get hold of the rarest sights like the YCL camps at factories and to see their commandos' street gang-fights.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	In a decade, Nepal will produce at least 20,000 megawatt electricity not from the hydropower but from road garbage, wind and cow dung, etc. The impact will be such that Nepal will no more need to import petroleum. By then power consumption will increase so much that export of electricity will be obsolete issue. India, who has been waiting for Nepal's electricity for her industrial growth will be bewildered. The pipeline for petroleum that has been laid out from Lhasa to Khasa of China will be useless. Rather, Nepal will earn a lot of money from the carbon trading because of zero consumption of petroleum products.</div>
<div style="text-align: justify;">
	<br />
	<br />
	 </div>
<div style="text-align: justify;">
	Many foreigners from American to Europeans and from Japanese to Singaporeans will apply for working visa here as many of them want to work in the developed Nepal in 10 years time. So there will be a huge problem of illegal foreign workers. So the main task of almost all foreign diplomats' in Nepal will be to seek an appointment with Nepali leaders to rescue their citizens from different illegal indulgences.</div>',
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			'created' => '2011-10-11',
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			'keywords' => '',
			'description' => 'Where will Nepal be in 10 years? Many may imagine that in next ten years, Nepal will also become like Afghanistan or Somalia where no good people can stay...............',
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		'Article' => array(
			'id' => '477',
			'article_category_id' => '46',
			'title' => 'Pasi Koistinen',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><strong><br />
	</strong></span></p>
<p>
	<span style="font-size:14px;"><strong>We Want To Make Mobile Telephony More Affordable</strong></span></p>
<p>
	 </p>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Pasi Koistinen </strong>is the President and CEO of Ncell Private Limited, which became the largest telecomoperator in Nepal some months back overtaking the state-owned Nepal Telecom. The company reached the figure of six million customers recently. Ncell, the first private telecom operator of Nepal was rebranded to its current name in 2010. Nordic telecom giant TeliaSonera has a large stake in the company. Koistinen joined TeliaSonera as a Director in 1998 and took up the position of Ncell CEO in May 2009. He has also served in top managerial level in diverse fields like hospitality business, advertising agencies and telecom service in countries like Finland, Singapore and China. In an interview with Gaurav Aryal of New Business Age, Koistinen shares his views on Ncell's growth, Nepal's telecommunication market and a whole lot of other issues. Excerpts: <img align="right" alt="Ncell" border="2" height="279" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview_pic2.jpg" style="margin:10px; padding:10px;" vspace="10" width="180" /></span></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
	</span></span>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Ncell's customer base has crossed six million. How sustainable is this rapid growth in the number of customers? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We have reached six million customers but the penetration is still low in Nepal. We are talking probably somewhere in the region of 50 per cent, meaning that only half of the population have mobile phone connectivity. So, there is still a huge potential. We are expecting the same kind of growth in the future as well because we believe that people need mobile phones. We have experienced rapid growth in the last two years and increased the customer base by three million within a year. So, mathematically speaking, we should have nine million customers after a year if everything goes as expected. The growth is sustainable because every customer we get into the system is generating revenue. The most important aspect is that our customers are happy with us. Therefore, we plan to continue investing in our operations. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>At the time of rebranding, Ncell had only about 2.2 million customers. It has taken a giant leap since, in terms of customer base, coverage and brand name. What is the secret of this huge success? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Rebranding was like a new promise not only for our customers but also for our company and the employees to increase the overall customer service level. So, we decided to invest heavily in the network and subsequently, the rebranding exercise. We doubled the network before the rebranding to make sure that we have something to operate that is good quality network. When we started marketing the new brand, it was an entity of this whole package of services. Service, in our case, is very intangible in the sense that people call each other and there may be 100 million transactions each day. We have to guarantee that these transactions are successful because it's only then that people will come to us. I think this was a major reason for our huge success. Of course, rebranding was another very essential component of our success.<br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>With this tremendous growth, Ncell must be making a huge profi t now. How are you doing on revenue? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Well, it depends what you call a profit. We are not profitable yet if you talk about cash flow which is the main issue when talking about profitability. Revenues are good and we have gained a lot of market share during the last couple of years. But we have invested a lot on infrastructure as well so a big investment takes time to recover. We are spending three to five times more in infrastructure than in other TeliaSonera countries due to difficult terrain and climate. We have to remain humble towards our customers and give them good services and hope that results will follow in due time. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What kind of policies do you have to attract more customers especially from rural areas? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">As you must have seen, we have had a lot of campaigns in rural areas. We want to support the campaigns knowing well that not everybody in Nepal has the same amount of money. Therefore, we have had a lot of rural campaigns to make mobile telephony more affordable for everybody. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Though Ncell has sold more than six million SIM cards, it is said that a large number of SIM cards issued are not in operation. What is the actual number of your active mobile phone customers? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Active ratio varies, of course. Out of the over six million sim cards we are talking about, we know that some of them are not currently in operation. There are people who switch on their phones at certain times only for receiving calls because it does not cost anything for the receiver. The active ratio varies between 80 per cent to anywhere close to 100 per cent. For example, it was almost 100 per cent when we had the earthquake on 18 September. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Tell us about TeliaSonera's Nepal experience in comparison with other countries? </strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">TeliaSonera has been very happy about the investment in Nepal. We are already in number three position among all nine countries in terms of number of users. So, naturally TeliaSonera is very satisfied with what we have done here. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>How is the response to your smart phone service like Blackberry? <br />
		</strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We launched Blackberry because we wanted to make a difference and we are the only operator selling Blackberry in Nepal. We knew from other markets as well that Blackberry will become an essential service for the people who need to be connected while on the move and people who have enough money. In this respect, we are very happy about it. This is an exlusive service targeted at an affluent segment of the market. <br />
		<br />
		We also have Ncell Pro which is a very good approach. In the longer run, we are expecting it to be a great success because we combine the handsets and talk time, sim card, data package and sms package as one set that is easy to buy. But it takes time for people to realise the benefits of it. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>It is said that Ncell and NTC the two telecom giants have left no space for new telecom operators. Is it really that diffi cult for new comers to penetrate in the telecommunication market now? How many operators do you think this market can sustain? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Well, this is a free market and anybody can invest and operate here. However, we do not have many companies in Nepal who are ready to take the risk by investing first. TeliaSonera has a history of entering emerging markets early. Kazakhstan was among the emerging markets we entered soon after Soviet Union collapsed, in 1994. It takes time to build the kind of massive operations that we have so it's not an easy business. I personally believe that this market can sustain three operators. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><img align="left" alt="ncell" border="1" height="426" hspace="5" src="http://newbusinessage.com/ckfinder/userfiles/Images/interview_pic1.jpg" style="width: 356px; height: 426px;margin:10px;padding:10px;" vspace="5" width="356" /></strong></span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What is your take on the practice of squatting on the spectrum license? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We actually have enough spectrum allocated to us and so far we have paid for the spectrum and the license in full. We have also fulfilled all the requirements of the NTA concerning the licenses including the spectrum. On our part, we are clear and it's not for me to analyse about some other companies holding spectrum. NTA too has introduced a fee for companies not using the spectrum effectively enough. It has the provision to penalise them for the so called holding of frequencies. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>What are your expectations from the regulatory authority for the improvement in quality of services along with this sectors growth and expansion? </strong><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Many things have been clear in the sense that we want to have a level playing field. Especially, when NTC is a government corporation, they do have the advantage of being in the country earlier than us. But the biggest issue is that they are not following NTA regulations. Let me give you an example. There is a rule that the congestion between the operators can be maximum 0.1 per cent meaning that one call out of 1000 can fail. Now, the situation is that for the past two-and-a-half years, I have been here and we have been talking about NTC not being able to give us enough capacity and units so that our subscribers can freely call the NTC network. During the peak hours, the congestion can be up to 60 per cent which is unfair. <br />
		<br />
		We had a very open discussion with NTC and NTA asking them to give us the space because we want to build a good telecom infrastructure company in this country. But, we are compelled to follow what someone else is doing. We don't want to be dependent on our competitors and want them to follow the regulations that are laid out. There is also the issue of cross subsidising, meaning, if you have an NTC mobile phone, you can call the NTC landline without any interconnection charge. However, in our case, we have to pay 52 paisa for every minute when our customers make calls to their network. This means that we cannot be price competitive with NTC on that level and this, of course, is a very wrong practice. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Some time ago, Ncell had commented that the authority was biased against the private telecom operators and especially Ncell. What was the biased treatment? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">We are the biggest foreign investor in Nepal so we are requesting for equal treatment and equal level playing field. For examplem, for permission requirement, foreign exchange permission and license renewal fees should be equal for all operators which has not been the case so far. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>WiMAX and 4G spectrum are not issued by the authority yet. Why do you think they are rigid about it? </strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">To tell you the truth, 4G is essential. But it is not urgent because we are totally occupied building the 2G network. We have always seen that people are very keen on using wireless broadband. Our Ncell Connect became the number one ISP in the country within a period of eight or nine months which really proves that people are willing to have wireless internet connection. I don't believe in WiMAX at all as it is a very limited kind of technology with no handsets available and promises to be an expensive proposition. I really intend to request the government to concentrate on GSM because evolution such as the 4G will continue to take place. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>Do you think 4G will be suitable for Nepal?</strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">Sure, because it gives excellent speed for data surfing. Now with HSPA, we can go up to 3.6 mbps and with HSPA plus, we can go up over 7 mbps. For instance, when 4G was launched in Sweden, it brought huge improvement to data speed. <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong>How long will your aggressive marketing continue?</strong> <br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);">I hope that we continue in the same manner forever. This is a continuous business and we have to give people value for money and time. Marketing is not only about marketing communication, but also about best customer experience. Marketing communication gives promises via billboards and advertisements. But we have to fulfill those promises with other aspects of the infrastructure - network, billing system, call centre, point of sales etc. Our aggressive marketing has reached us this far. So, we are more than happy to continue practicing it and hope that it pays us great dividends in the long run. </span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><br />
		</span></span></p>
	<p>
		<span style="font-size:12px;"><span style="color: rgb(0, 0, 0);"><strong><br />
		</strong></span></span></p>
</div>',
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			'keywords' => '',
			'description' => 'Pasi Koistinen is the President and CEO of Ncell Private Limited, which became the largest telecom
operator in Nepal some months back overtaking the state-owned Nepal Telecom. The company
reached the figure of six million customers recently. Ncell, the first private telecom operator of Nepal
was rebranded to its current name in 2010.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '476',
			'article_category_id' => '47',
			'title' => 'Flight Of An Aviator',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size:12px;"><b><img align="right" alt="gyanendra" border="2" height="329" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/oct-personality.jpg" style="margin:10px;padding:10px;" vspace="10" width="350" />Gyanendra Bhakta Joshi</b></span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Managing Director</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Swift Air</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Gyanendra Bhakta Joshi, Managing Director of Swift Air, is determined to touch the sky with his dream project. It is his passion for aircraft and tourism that drove Joshi to set up his own airline. He says he decided to venture into the airline sector to set a milestone in the aviation market.<br />
	<br />
	</span></div>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;"><strong>By Gaurav Aryal<br />
		<br />
		</strong></span></div>
</div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Once on the day of Vijaya Dashami, Gyanendra Bhakta Joshi's elder brother blessed him that he would own an airline one day. While working with Skyline Airlines that is not in existence today, Joshi secretly wished he would have a company of his own. His dream got a new life after meeting Bishnu Prasad Khadgi, now his friend and business partner.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi is Managing Director (MD) of Swift Air Nepal Pvt Ltd, a newly established domestic airline. Swift Air is planning to commence its operations from October. He said that the company is bringing in two aircraft in first phase. Of these two, the first one is to arrive in October. Joshi, enthusiastic about making his dream project come alive, is spending day and night just to make sure that his dream is realised.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">It was in the alleys of Ason that Joshi wandered around as a child. Though his ancestors were from Bhaktapur, his grandfathers moved to Kathmandu. He went to St Xavier's School Godavary and later transferred to Ananda Kuti Vidyapeeth at Swayambhu, where he completed his schooling. He credits St Xavier's for making his academic base strong. Joshi graduated in Commerce from Shankar Dev Campus.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">His family had a hardware store at Ason. Joshi's father and grandfathers had dedicated their life entirely to business. But his uncles took to the service industry. Joshi followed their footsteps and landed in the tourism sector.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">He began his career from assistant level in Everest Express Tours and Travels around 25 years ago. That was my first job and I was paid Rs 400 a month, he recalls. In the following years, he worked in Pristine Travels, Tiger Tops Resort and even USAID. Then, I entered the aviation sector with Skyline Airlines in a managerial position, he shares his journey to the airlines business. He has even worked as Sales Manager with GMG Airlines of Bangladesh. I like this sector, so, now I am fully into it, says Joshi. He says his career in the tourism, travel and airlines helped him develop a passion for these areas. Joshi reveals, he is obsessed with aircraft and often visits websites of Boeing and Airbus to update himself with the latest developments and innovations. Now, I have my own aviation company because of that passion, he boasts. Joshi is proud that he has made his brother's blessings become a reality.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi counts Skyline's Executive Director Dorje Sherpa as his aviation guru. Whatever I have learned, I learned it from him. I express my gratitude to him for what I have become today, he acknowledges. The aviation know-how did not easily make him the MD of Swift Air. Joshi's hard work, dedication and struggles have paid off.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">It was three years back that Joshi had thought of setting up an airline and he even started working towards that. Unfortunately, it did not turn into reality. After one and a half years, he met Bishnu Prasad Khadgi who is now Executive Chairman of Swift Air. With one year of homework they received AOC (Air Operator's Certificate).&nbsp;Joshi's two sons who are living overseas are happy to know about their father's venture.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Khadgi is his only business partner now. Though they had targeted to fly from January 2011, they are now planning for an October launch. Cost is too heavy as it requires setting up offices in every destination. However, this also creates job opportunity in every destination we reach. I feel proud to give employment to more people, he says.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi says his company will have around 70 staff members in the beginning. According to Joshi, good incentives and listening to their complaints will motivate staff. He feels that boss is not always right. Joshi thinks staff is the asset of a company. I advise and assist my staff as and when required. I will treat all my staff equally, he shares his human resource management principle. He believes in giving opportunity to new comers too.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not believe in interfering much in the office management. Although, he wants the line of communication maintained.We just want to know what employees are doing. They must also feel that they are working for their own company and we believe they will. When the company prospers, they will prosper too, he opines.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not have much to complain about the aviation policy of Nepal. However he is dissatisfied with air traffic problems. He urges the government to find a solution as soon as possible. He sees a good future and market prospect for the travel industry. He reveals this is one of the reasons behind establishing his airline business. He observes that the tourism sector is growing more every year and he wishes it to boom in the future. According to Joshi, aviation industry is doing well. He says, We established the company with the motto: Let's be a part of aviation team in Nepal.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi has already thought of expanding the business in the future. However, he and Khadgi do not have plans to do it within two years. They want to first sustain in the competitive market. After two years, we will go for expansion,he discloses.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">I am more focused on my dream project, he says with a touch of grit. At least 12 hours of his day is spent in work. Joshi says he gets time for his family only during mealtime. However, on Saturdays, when he is mostly on leisure, he loves to go on a drive with his wife. Apart from that, his free time is spent meeting with relatives, staying at home, watching TV or listening to music. He does not usually travel but he promises to do so as his new venture will require him to travel. At times, Joshi feels lonely when his sons are not with him. He says being away from sons have become his part of life. Joshi lives with his wife at Sitapaila.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi does not have regrets about his career. He feels he is happy with what his life has given him. I have settled down and I possess everything I need, he expresses contentment. The only regret he has from his life is that he could not save his mother who was suffering from cancer. He took her to the best hospitals in Mumbai and Delhi but she could not be saved. That was the saddest part in our life: for me and my family. It has been almost 15 years, but still I feel like crying when I remember those times, he gets sentimental.</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size:12px;">Joshi's life is closely knit with his profession and his dream project.&nbsp;His wishes, his dreams are associated with his newly established company. I just want to see Swift Air growing.&nbsp;The more it grows, the more people will be employed. And, I wish we could add more aircraft to the fleet, he says.</span></div>
<p>
	<span _fck_bookmark="1" style="display: none;">&nbsp;</span><span _fck_bookmark="1" style="display: none;">&nbsp;</span></p>
<h2>
	<span style="font-size:16px;"><strong><code><span dir="ltr"><span style="background-color: yellow;">Personal side</span></span></code></strong></span></h2>
<p>
	<span _fck_bookmark="1" style="display: none;">&nbsp;</span><span _fck_bookmark="1" style="display: none;">&nbsp;</span></p>
<ul>
	<li>
		<span style="font-size:12px;">Not active in social activities</span></li>
	<li>
		<span style="font-size:12px;">Not much gadget savvy uses iPhone and a laptop</span></li>
	<li>
		<span style="font-size:12px;">Loves driving</span></li>
	<li>
		<span style="font-size:12px;">Prefers driving motorcycle to a car in Kathmandu streets</span></li>
	<li>
		<span style="font-size:12px;">Does not play games but watches sports channels</span></li>
	<li>
		<span style="font-size:12px;">Likes gardening</span></li>
	<li>
		<span style="font-size:12px;">Loves watching National Geographic, Discovery, Star Movies, HBO</span></li>
	<li>
		<span style="font-size:12px;">Good music fanatic</span></li>
	<li>
		<span style="font-size:12px;">Likes reading magazines and newspapers</span></li>
	<li>
		<span style="font-size:12px;">Does not drink alcoholic beverages except beer</span></li>
	<li>
		<span style="font-size:12px;">&nbsp;Not brand conscious but believes in looking smart</span></li>
</ul>
<div style="text-align: justify;">
	<span style="font-size:12px;"><br />
	</span></div>
<div>
	<div style="text-align: justify;">
		<span style="font-size:12px;">Determined to his achieve success, Joshi is not ready to step back. This is the time to watch him take off and see him touch the sky.</span></div>
</div>',
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			'created' => '2011-10-11',
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			'keywords' => '',
			'description' => 'Gyanendra Bhakta Joshi, Managing Director of Swift Air, is determined to touch the sky with his dream project. It is his passion for aircraft and tourism that drove..........',
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	(int) 9 => array(
		'Article' => array(
			'id' => '475',
			'article_category_id' => '40',
			'title' => ''NRB Will Take Every Possible Measure To Bring Liquidity Problem Under Control'(October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><strong>Gopal Prasad Kaphle </strong>is Deputy Governor of Nepal Rastra Bank (NRB), the central bank of <img align="right" alt="" border="2" height="356" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/gopal prasad kaphle.jpg" vspace="10" width="250" />Nepal. He was appointed to the post on December 26, 2010. He started his career in banking in 1955 and is devoted to this sector for more than 29 years. During this period, he worked in banking operation, branch operation, development finance, micro finance, public debt, training, and banking inspection and supervision department. He completed Masterâ€™s Degree in Economics from Tribhuvan University in 1979. He also has a Masterâ€™s Degree in Economics from the University of New England, Australia. In an interview with <i>New Business Age</i>, Kaphle speaks about the current situation in the banking sector and NRBâ€™s regulatory plans for the future. Excerpts:<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Total net profit of commercial banks has increased by 2.28 per cent compared to that of last year. Why is the growth so low?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">The growth rate compared to a few years ago is quite low. However, there is no reason to be unhappy about the profit earned by financial institutions. There are some factors that have caused the liquidity problem such as absence of investment area and environment, turmoil in real estate, margin lending, and until last year delayed government budget. Despite these all, BFIs (bank and financial institutions) are successful in making profit and provide relief to shareholders and promoters. In the coming years, if the things change for the better like a timely budget, investment friendly environment and good corporate governance, we can be more optimistic about the high growth in profit.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Problem of liquidity is still not solved. What is the real scenario at present? How long will it take to overcome this crisis?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">If we look at the liquidity inside financial system, there are not many reasons to worry about. A couple of months ago, commercial banks had Rs 22 billion surplus liquidity in the market. Prior to that, more than Rs 30 billion surplus liquidity was observed in commercial banks. Most of the commercial banks except only a few are in surplus. Among B and C class financial institutions, some have surplus while others are in deficit. Moreover, commercial banks are at ease while development banks and finance companies are not completely out of the woods. If we look at inter-bank lending rate, till date, only some finance companies are still borrowing at 15 or 16 per cent. Commercial banks were borrowing at one per cent some time back but at present they are borrowing at around 1.5 per cent. This shows, there is ease in the system but at the individual level, some bank and finance companies are still in problem. But, the liquidity problem is not completely resolved.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">This time of the year is normally the period of ease. During this period, the government budget has been passed by the parliament. There have been fewer investments. Loan and interests repayment rate in the commercial banks is good. That makes the liquidity problem to look relieved. We are also in a wait and watch mode to see what the situation is after Dashain and Tihar. I believe there wonâ€™t be big problems like in previous years. At such times, we cannot deny the possibility of problems. However, we are alert because of the lessons we have learnt. Public trust has developed in the banking sector. In the coming days, NRB will take every possible measure to bring this problem under control. The government has also assured that. NRB, if required, will use any instruments like refinancing to LOR (Lender of Last Resort) to bring the situation in control. To make sure that liquidity does not remain idle, we are issuing development bonds and treating B and C class institutions can participate in such instruments. We are putting them in a separate basket. I am trying to ensure the environment to cash in on instruments whenever there is any problem of liquidity. Problem is psychological too. And, commercial banks are also optimistic that the problem will ease. I believe the problems of the past will not repeat.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">The average non-performing loan out of total loans has increased to 2.41 per cent from 1.92 per cent of previous year. What is your take on this?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">This may be realistic too because the biggest problem currently is real estate loans. The financial sector is not mobile. Economic activities are missing; industries are not moving on the right track, there are problems of labour and import-export. Due to unstable government, policies are not implemented. We also realise that NRB has become quite aggressive and taken tough policy measures. We tried to address the problem of good governance that has been left unaddressed over the years at once instead of treating it in a step-by-step manner. Due to the absence of investment environment to tap such opportunities, lending in industries have problems of recovery. Industries may not be running, some might have been closed down, there are labour issues. So, loans are not being paid back. Some banks and finance companies were in problem. So, we decided to liquidate some companies, and because of that, their non-performing loans must have been added. Real estate loans had the largest market share. We put a cap on lending to the real estate. The sales of real state also faltered. As developers cannot sell, they could not repay the loan. We have tried to ease it. However, market and economy as a whole has effects on business and non-performing loans increased.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">On NRBâ€™s inspection and supervision part, we have managed it. Compared to the past, we have improved our vision and efforts to solve problems, monitoring and inspections. After our effective inspection, institutions are not able to turn bad loans into good. That has also led to increase the volume of such loans. Increase in such loans does not mean banking systemâ€™s status has deteriorated than earlier. This is another side of NRBâ€™s inspection, supervisionâ€™s smoothness and effectiveness.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">NRB is planning to adopt a risk based supervision system. What will be the modality of such a system? And, how soon could this be implemented?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">We have various modalities in this risk-based supervision system. There are numerous risks like subjective, managerial and operational among others. Our inspection department categorises specific risks from every sector. Based on that, we define our observation. There may be risks in one sector while others may be safe. This modality tries to take a multidimensional approach to maintaining discipline. It is a change from traditional supervision mechanism. The mechanism is envisioned to ensure that banks and financial institutions should not be in trouble because of any sector or cause. It considers not only good governance, capital base but also operation, investment portfolio among others. This modality aims to calculate and mitigate risks from any sectors. It is based on our belief that a bank must be healthy, strong and create a separate identity in the market.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">Risk-based supervision is applied within NRB too. We are applying it in our departmental operations. It is already under application. We believe risks must be mitigated. We now have to take it forward effectively and give continuity to it. We have to calculate risks that may arise in the future.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">IMF had suggested NRB to exercise more power. What are the new steps NRB is planning to take?<br />
	<br />
	</span></strong><span style="font-size: 14px;">Exercise of power must be viewed considering a couple of elements. NRB exercises power based on NRB Act and BAFIA. BAFIA is in the house and discussions are going on to amend it. It must be strong. The government sector also has a role to make NRB active. We have focused on a few things like taking prompt action on the problems witnessed in financial institutions. NRB must be given right to take prompt action against any issues of good governance. For now, it takes a long time to take action against any person who is proved guilty. The process requires informing the Ministry of Finance then the Ministry of Home and finally the police. If we had power, we could have taken action against some financial criminals. So, NRB must be powerful and the government intervention should be less. NRB should be guaranteed a strong autonomous identity. For that, the status of Governor and Deputy Governor of NRB must be raised which would lead to more power. There must be such provisions that police can make arrests and take actions based on our letter. Time lag that is in existence is encouraging culprits to flee. We are demanding to increase our rights and that will help maintain discipline in banks and financial institutions.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">What is NRB doing to restore public confidence in financial institutions that is said to be at a low ebb?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">I donâ€™t fully agree with it. At present, public confidence is improving. The confidence started declining when there was crisis of new notes during Dashain around two-three years back. Then, slowly public belief diminished in the entire banking system. And, it heightened with the liquidity crunch. At the same time, some companies were in problem and as a result, trust in the entire financial system eroded. If NRB had not been able to take action and correct its policies, the confidence would have fallen more. We tried hard and deposits have increased, profit has grown though a little and the people are returning to banks for deposits. People kept their money with themselves as some banks could not give loans, or even return deposits. We have moved on from this situation. The increased deposit and surplus liquidity is all because of increasing public confidence. I donâ€™t think commercial banks should worry but this is not a siesta time. Public is so sensitive that if it does not get good service there will be shift in belief and trust. Public confidence must be won with good service, good governance and transparency.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">A demand to stop issuing license to financial institution is heard. Is NRB planning to take such action?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">A couple of things must be taken into consideration. Firstly, the number of financial institutions needed for Nepal with respect to our scale of economy must be clear. Another, there must be clear demarcations of public status like deprived groups, remote areas, hilly and mountainous areas and developed areas. We have already faced the consequences of rampant establishment of banks and finance companies. So, we are going for merger. One policy was formulated, companies came meeting the requirements and licence was issued. We have seen its consequences. NRBâ€™s capacity for inspection and supervision was witnessed along with banks and finance companiesâ€™ capacity and implementation of good governance. Often question is raised whether a company can be established or not just with a certain amount of capital. The number is one question, while deepening access of service in certain geographical region and population can be another. Access and inclusion of financial and banking service to all regions must be analysed. The measures to cater to that group or region deprived of service must be pointed out. Similarly, unhealthy competition arises from increased number. The cake is shared by all institutions even as their number increases. Eventually, the size of activities will also diminish. Considering it, a suitable policy and environment must be created. It does not mean we should not issue any licenses. We had prioritised microfinance and its number has also exceeded. There are a lot of duplications. It must be analysed whether a particular area requires more companies or service. Whether to go for branch expansion or number of institutions are two options. So, whichever is feasible we must concentrate on that. Every region and every group of people must be able to access the services and share the cake of national economic development. We must devise our licensing policy accordingly so that there is no duplications and quality facilities are evenly distributed. We are making such policy. We are forming a five-year strategic plan in which we have planned to review the licensing policy. After formulation of that outline, we will have suitable licensing policy and we will bring in merger to control excess institutions and expand in areas with scarcity. That will be either by motivation, giving additional services or accelerating, we will take banking services to those areas.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">Till date, a merger between two commercial banks has not happened. Do you think the mergers that are happening are satisfactory and meet the expectation of NRB?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">The expectation of NRB on merger is not met. For the coming days, NRB is offering two options: merge and get incentive or be ready for forceful merger. If motivational measures do not work, we will have to go for forceful mergers. IMF and other world bodies have suggested that the number of financial institutions is exceeding the national capacity and need. Our only target is to merge the financial institutions, increase their capital base and ensure good governance. It is our continued effort. There are policy complications and we are relaxing them. We are inviting them to come for merger as soon as possible. It is obvious that some practical problems come during mergers. Nobody wants to lose anything. There canâ€™t be two CEOs, chairmen or GMs. Problems in managerial aspects are visible. Someone must compromise something. NRB is determined and it will make mergers anyhow.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">NRB is trying to correct several of its mistakes of the past like cap on CEO salary, margin lending and real estate? Why does NRB take ad-hoc decisions in the first place?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">I donâ€™t think so. While trying to manage something in an open system, ripples like in a pond hit by a stone are visible. We did not compromise even while deciding CEOâ€™s salary. It is implemented now. We had some policy difficulties regarding B and C class institutions. There would be large variations if similar policy is applied in all financial institutions. It is difficult to manage as there are institutions confined to a district and also large national institutions. Now, we have addressed it through a new policy. We have let them decide independently on salary but based on certain backdrops.<br />
	<br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><strong><span style="font-size: 14px;">How long will it take to improve the BoP situation to a comfortable level?<br />
	<br />
	</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#(color);"><span style="font-size: 14px;">BOP has improved lately and it was in surplus in June/July. It will continue to improve in coming months too. I donâ€™t think we will go into deficit this year but having said that we should not stay idle. It is getting positive and we are optimistic. There are countries which have deficit balance of payment and are still considered developed. In countries like ours, where there is small source of income and imports are big, some discipline must be maintained like increasing our productivity in sectors like agriculture and increased credit flow to the productive sectors. Internal production immediately helps BoP. We have requested financial institutions to invest in such areas. When the government budget flows to those areas, production increases and jobs are created. That will have multiplier effect and export will also increase. Import of luxurious goods must be discouraged while development oriented activities must continue. Other options than remittance also need to be sought to remain in safe position.</span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-23',
			'keywords' => '',
			'description' => 'Gopal Prasad Kaphle is Deputy Governor of Nepal Rastra Bank (NRB), the central bank of Nepal. He was appointed to the post on December 26, 2010. He started his career in banking in 1955 and is devoted to this sector for more than 29 years. During this period, he worked in banking operation, branch operation, development finance, micro finance, public debt, training, and banking inspection and supervision department.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '474',
			'article_category_id' => '40',
			'title' => 'We Are Sailing Easy For Now (October 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><strong>Sashin Joshi </strong>is the Chief Executive Officer of Nepal Industrial &amp; Commercial (NIC) Bank Limited. <img align="right" alt="" border="2" height="378" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sashin%20joshi.jpg" vspace="10" width="250" />He is also the Chairman of National Banking Training Institute (NBTI) besides being the Immediate Past President of Nepal Bankers Association. He holds an MBA in Finance, a Post-graduate Diploma in Marketing and is Credit-Accredited by international banks. Having started his banking career in 1986 with Nabil Bank, Joshi has also worked in Australia and New Zealand Banking Group, Melbourne, and ANZ Grindlays Bank, Kolkata. He was a Director of the Board and Head of Corporate &amp; Institutional Banking at Standard Chartered Bank Nepal before moving to NIC Bank. Also a Founding Director of Rural Micro-finance Development Centre (RMDC), he aspires to contribute in scaling-up reform in Nepalâ's financial sector by working closely with the government, the central bank and the private sector. In an interview with Pinaki Roy of <i>New Business Age</i>, Joshi analyses the performance of Nepal's commercil banks over the past year and recommends remedial measures on issues that plague the sector. Excerpts:</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What is your analysis of the performance of Nepal's commercial banks over the past year?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">It's not very good. But honestly speaking, I was expecting it to be even worse. Banks were helped to a certain extent by some relief measures given by the central bank at the last minute. I had predicted that the aggregate profit of all the commercial banks put together would be negative. However, we have managed aggregate increase in profit by about two-and-a-half per cent compared to that of last year. My analysis is that the Nepal Rastra Bankâ€™s (NRB) relief measures in the eleventh hour helped us avert negative growth.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Total net profit of commercial banks in Nepal has increased by a mere 2.28 per cent compared to that of last year. What is the reason for this slow growth?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">The commercial banksâ€™ profitability was impacted for a number of reasons. As a result of extremely tight liquidity, banks started competing fiercely for deposits by going one-up on interest rates. The deposit rates increased significantly but the banks were not able to pass on all the increase to the borrowers. This resulted in the banksâ€™ average margin getting reduced. Many banks had to take on additional costs on account of personnel, utility, security, stationery supply etc among others. And of course, there is no business growth for reasons of political instability.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Liquidity crunch continues to persist. What is the severity of the crunch at this point of time and how long will it take us to overcome this?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">I would like to contradict you here. The liquidity situation has improved significantly over the past couple of months. It improved primarily due to two reasons: one is that there was massive government expenditure that happened towards the end of the last fiscal year. Besides, the budget this year came out on time and therefore, there was no gap between budget approval and government expenditure. On the external account, there have been a lot of reimbursements that have happened for projects which were undergoing or completed. Another reason is that due to very tight liquidity crunch and lack of favourable market conditions, banks were putting brakes on new lending. These two reasons together helped preserve liquidity. However, the real test will be when a lot of withdrawals will take place during Dashain and Tihar. Also, if the capital expenditure of the government does not coincide with the festival season, we could have another tight situation. For that, we will have to wait and see but for now, we are <br />
	sailing easy.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">The total non-performing loan has increased by close to 26 per cent as against last year. What could be the possible remedial measures?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">To tell you the truth, I had expected higher increase in non-performing loans. The relief given by the central bank especially to the real estate sector towards the end of last fiscal year provided respite because the borrowers were allowed to pay a month after the year end without attracting any provisioning. I believe there is still some under provisioning by banks.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">If there is a problem, you have to bite the bullet. Postponing a problem is not going to make the problem go away. If you have a problem loan, you have to recognise it as one and make appropriate provisioning for that. However, if a business can be revived through re-organisation or re-scheduling, then we should also make every effort to make that happen.&nbsp;&nbsp;&nbsp; </span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">How can public confidence in financial institutions be restored at a time when the banking industry has been troubled with lower deposit mobilisation?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(0, 0, 0);"><span style="font-size: 14px;">I think the financial system in Nepal is relatively sound, more so when it comes to </span></span><span style="color:#000;"><span style="font-size: 14px;">"A" </span></span><span style="color:#000;"><span style="font-size: 14px;">class commercial banks which account for 80 per cent of the market both in deposits and lending. Most of these institutions are well supervised, have reasonably large capital base and on the whole, well managed. The problem lies basically with "A"&nbsp; class institutions where quite a few corporate governance-related issues have surfaced. There is also a lack of regular and effective supervision by the central bank. If visible measures are taken in these two areas by the central bank and boards of these institutions, I think it will help in restoring public confidence.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What is your stance on granting banking licenses to practically everybody who applies for it? Aren't we overcrowded with banks in the urban centres while 70 per cent of the country still has no access to formal banking?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">That was the biggest problem. NRB effectively had just one criterion capital, so anyone who had the money could virtually open a bank here. That was a very wrong policy because banking is such a sensitive industry. Unlike other industries, banks are the custodian of public money where people put their trust. While allowing bank licenses, NRB should have a very prudent and strict criterion to ensure the right intentions of the promoters and the management.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">It's not a numbers issue. It's more about the quality of the banks and the effectiveness of the central bank's supervision. Banks are spreading out and more than a 1,000 branches have been opened in the last one year by all the banks put together. And most of these branches are located outside Kathmandu.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">We are being inundated with merger rhetoric for as long as one can remember, however, we haven't seen one till now. How serious are the stakeholders about this and how will it impact the industry?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">For any merger to happen, the basis is the potential value addition. Merger for the sake of merger is nonsense. If you look at the international experience on mergers, more than 50 per cent have usually failed. A merger is welcome provided there is value addition taking place between merging institutions by way of bringing in synergies, business, cost, reach, network etc. In Nepal's context, the cultural angle also comes into play. Factors such as multiple promoters with their own personal interests and their respective egos taking precedence etc override the fundamental business deal. That's why I believe that it's very difficult for mergers to happen here.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">However, if mergers do happen, it will definitely be good for the industry. Some degree of consolidation is required because there are too many small players in the market. Size does matter and provided there is a requisition from managements, better efficiency can be brought in.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">How long will it take to improve the BoP situation for us to get slightly more comfortable than we at present are?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">We have a huge trade imbalance and if we are going to depend solely on trade, it is going to take us a very long time. The export-import imbalance is quite severe which we can deal with it by building more manufacturing establishments and having a better industrial base. Even if we want to promote hydropower, the gestation period again is going to consume a lot of time. Therefore, purely based on trade prospects, it is going to take us a long time to improve the BoP situation. We have of course, been helped by the remittances brought in by Nepali Diaspora and also the aid coming through bilateral and multilateral donors that ensures capital inflow. Even if we have financial and political stability and the policies are conducive, we cannot expect wonders. To even expect that we will have a trade surplus will take us at least 10 years if we start now.&nbsp;</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">Why is it becoming more difficult to control inflation? What are your recommendations to successfully control inflation?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">In Nepal, inflation is primarily on account of two factors. One is the imported inflation which we can do nothing much about. Within this imported inflation, India plays a big role as two-third of our trade is with India which is just the formal trade. If you also take into account the informal trade, my guess is that it would be as much as 80 per cent. So, a lot of inflation is imported from India. The other factor is the supply side where there are no internal control mechanisms. The distribution cost is very high because of the transportation cartels and syndicates. Cost of power is very high in Nepal while the labour costs are ever rising. We still donâte have very good access in terms of roads which again makes it a bottleneck to get goods from one place to another thus adding up costs. We can do a lot on the internal side if the government becomes more effective in its functioning. Besides, the government must allow some subsidy to the agricultural sector otherwise our farmers just cannot compete with the farmers in India where you have subsidies for fertilizers, irrigation, power etc.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><strong><span style="font-size: 14px;">What are your expectations from NRB given the prevailing scenario where the banking industry has registered an excruciatingly slow growth?</span></strong></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">One expectation I have is that whenever NRB brings out any new policies, directives or circulars, they do it through a consultative process where stakeholders are involved and there is a dialogue. It's not necessary that NRB has to agree to everything that the stakeholders say but at least there is a two-way process when you take everybody into confidence. If a consultative process brings forth any new policies and directives, there will be ownership from the stakeholders themselves. It means that enforcement will be that much more easier because then it becomes voluntary.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">My second expectation is that while bringing out any new directives or policies, they should also try to emulate some of the best practices in the world and think it through before implementing them. We have seen in the past that in quite a few instances, they have come out with half-baked directives which they had to amend a number of times. That shows some kind of shallow thinking within the central bank when they come out with directives.</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;"><br />
	</span></span></div>
<div style="text-align: justify;">
	<span style="color:#000;"><span style="font-size: 14px;">Third one is that when they come out with any policies, they should not look only at the bad practices followed by one or two institutions and then paint everyone with the same brush. They must not generalise. If there are some bad apples, they should handle them individually and not treat everybody with suspicion.</span></span></div>',
			'published' => true,
			'created' => '2011-10-11',
			'modified' => '2012-08-23',
			'keywords' => '',
			'description' => 'Sashin Joshi is the Chief Executive Officer of Nepal Industrial & Commercial (NIC) Bank Limited. He is also the Chairman of National Banking Training Institute (NBTI)..........',
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '473',
			'article_category_id' => '40',
			'title' => 'Business Of B-schools (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<strong><span style="font-size: 14px;">By Gaurav Aryal</span></strong></p>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="" border="2" height="252" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/sep-cover.jpg" style="width: 251px; height: 252px;" vspace="10" width="251" /></span><span style="font-size: 14px;">During past one decade or so, one of the areas that witnessed a exponential growth in Nepal is the Management Education. Along with the growing demand of duly trained human resource in the field, the management education also thrived as the business in itself. The growing number of banks, financial institutions, corporate houses and increased awareness about the need for modern management expertise to run any commercial&nbsp;venture fueled the growth in management education. Private sector investment in setting up the state-of-the-art institutions and immensly improved quality of education indeed have had multiplier effect in adding attraction to both-investors and students. More than&nbsp;one and half dozen colleges affiliated to three universities - Pokhara University, Purbanchal University and Kathmandu University (KU) - are running either Master in Business Management (MBA) or Executive MBA (EMBA) or both. Though the Tribhuvan University (TU) has not introduced any of these courses, it is running Master in Business Studies (MBS) for decades now. TU plans to introduce an MBA programme in the near future. All these universities also run Bachelor in Business Management (BBA), a four year course while TU has Bachelors in Business Studies (three year course) as well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A few years back studying medicine was supposed to be the most prestigious academic pursuit for a whole lot of students and guardians. Today, the market demand, expansion of career prospects in management sector, growing importance of human resources in companies and distinct teaching-learning methodology are luring more students to management education, perhaps, more than in any other discipline. Nepali universities are also working hard to produce quality managers to compete in the market where top-notch managers are still mostly from foreign universities.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The History</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management education began in Nepal in the form of commerce education in 1954 with the establishment of commerce department in government-owned Tri-Chandra College. The college had introduced Intermediate of Commerce (ICom) and Bachelor of Commerce (BCom) programs with 27 and four students respectively. The programme was affiliated to an Indian university till the establishement of Tribhuvan University (TU) in 1959. The following year, in 1960, TU began offering post-graduate programme in commerce called Master in Commerce (MCom) as well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dr Bijay KC, the Dean and Professor at South Asian Institute of Management (SAIM), says introduction of National Educational System Plan in 1971 proved a milestone in the evolution of management education in the country. TU set up Institute of Business Administration, Commerce and Public Administration. This institute was renamed as Institute of Management in 1976. It is now called Faculty of Management (FOM).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Nepal National College (later renamed Shankar Dev Campus), Public Commerce College (Kathmandu), Nepal Commerce College (Lalitpur), Thakur Ram College (Birgunj), Mahendra Morang College (Biratnagar) ruled the roost for a long period in the management education of Nepal. Numerous prominent business persons&nbsp;and management gurus were educated in these colleges. These colleges were later brought under the direct control of TU (as TUâ€™s constituent campuses) following the introduction of National Education System Plan of 1971.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That system of complete state control on education was withdrawn in 1979 and TU started granting affiliation to colleges set up by the private sector. However, it was only after 1991 (i.e. after the advent of multi-party democracy) that there was real growth of colleges from the private sector in management as well as in other types of higher education. That was the year when Kathmandu University (KU) was set up. KU set up Management School (called KU School of Management or KUSOM) in August 1993.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That was followed by establishment of Purbanchal University in 1995 and Pokhara University in 1996. Thus, there are four universities in Nepal now providing management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">These universities are competing to introduce new tools and techniques in management education. For example, MBA with modern teaching-learning methodology and accordingly courses designed at these universities have helped maintain almost global standards in upper-level management education. A new brand of MBA â€“ EMBA has been introduced recently targeting practising managers. This management programme has been introduced in several private colleges affiliated to Pokhara University, Purbanchal University as well as the central college of KU called KU School of Management (KUSOM).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As of 2009, TUâ€™s FOM had 28 constituent colleges and 506 affiliated colleges. The latest entry (August 2011) in the website of Pokhara University shows that it has over ten colleges affiliated to it for different types of management education in the Bachelorâ€™s or Masterâ€™s level in addition to its central campus of PU School of Business. Similarly, KU has three colleges affiliated to it for such courses in addition to its central campus KUSOM. Purbanchal University has over 35 constituent or affiliated colleges for such programmes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">These colleges offer such courses as Master of Travel and Tourism Management (MTTM) at the Masterâ€™s level in addition to MBA, MBS and EMBA. At the Bachelorâ€™s level, there are other specialised programmes as well in addition to BBS and BBA. The examples are Bachelor in Hotel Management (BHM), Bachelor of Information Management (BIM), Bachelor of Travel and Tourism Management (BTTM), Bachelor of Business Information System (BBIS) and Bachelor of Commerce Studies (BCS).&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, despite such growth in management education in Nepal, a large number of Nepali students are still going abroad for management education. While that shows the growing demand for the higher education in management science, it has lured a number of foreign institutions to set up their campuses in Nepal or forge partnerships with Nepali colleges or universities.&nbsp;</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The Growth</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Saroj Dhakal, Management Faculty at the recently established CG-CEDEMAS Institute of Management (CGCIM), feels MBA has now become a most sought after brand amongst the ones aspiring to make career in financial or managerial fields. This institute is a joint venture between Nepalâ€™s one of the porominent business houses Chaudhary Group and Englandâ€™s Centre for Development Management Studies (CEDEMAS).</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Colleges offering MBA, EMBA or both degrees</span></div>
<table border="2" cellpadding="0" cellspacing="0" style="width: 424px; height: 987px;">
	<tbody>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">S. No.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Name of College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Affiliation</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University School of Management (KUSOM)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">2.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Ace Institute of Management</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">3.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Apex College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">4.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">National Open College (NOC)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">5.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Uniglobe College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">6.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University-Faculty of Management Studies</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">7.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">South Asian Institute of Management (SAIM)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">8.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu Don Bosco College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">9.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Novel Academy</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">10.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Presidency College Of Management Sciences</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">11.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Zenith International College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">12.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kantipur Hotel Management &amp; Interior Design College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">13.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">DAV College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">14.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Topper Management College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">15.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">White House Graduate School of Management</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">16.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Campion Kathmandu College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">17.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Birganj Public College, Birgunj</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">18.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Maharaja Agrasen College of Management, Birgunj</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">19.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Management Campus, Biratnagar</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">20.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nepal Bebasthapan (Sang) College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">21.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">King's College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">22.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Presidential Business School</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">23.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nova International College</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International American University (USA)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">24.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Lord Buddha Education Foundation (LBEF)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Sikkim Manipal University (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">25.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">International Center for Academic College of Distance Education &amp; Online Studies(ICA)</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Indira Gandhi National Open University (IGNOU) (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">26.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Nepal Information Technology</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Indira Gandhi National Open University (IGNOU) (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">27.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Institute of Banking &amp; Management Studies</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Bharathiar University (India)</span></div>
			</td>
		</tr>
		<tr>
			<td width="43">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">28.</span></div>
			</td>
			<td width="293">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">KFA Business School</span></div>
			</td>
			<td width="295">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Vinayaka Missions University (India)</span></div>
			</td>
		</tr>
	</tbody>
</table>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Apart from the banking and financial system, the demand for professional managers is equally strong in other sectors like tourism and hospitality, energy, agriculture, public sector and others.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As the reasons for growing attraction and development of management education Dr Bijay KC lists development in infrastructure over one-and-a-half decades, change in the trade and occupational patterns in Nepal, growth in media, information technology and development of financial sector, among others. MBA and EMBA graduates are more in demand in the private sector than in the government. KC feels that globalisation and liberalisation have spurted the demand for quality managers.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Prof Dr Geeta Pradhan, Dean at Faculty of Management Studies at Pokhara University, says â€œThe growth of banks and corporate houses has definitely added attraction to management studies in the country. Similarly, MBA teaching methods has several in-built practical approaches with internships, project works and case studies.â€ She thinks such approach of teaching-learning methodology produces graduates that are competitive in the work environment and turn out to be capable managers. She added, â€œManagers are required in every field â€“ hospitals to corporate houses. This has created the demand for management graduates.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, Prof Dr Dev Raj Adhikari, Head, Central Department of Management, Tribhuvan University, says that the current growth is not of the actual business schools but in the business studies. He gives credit for this to leading four universities for the growth. He says, the number of students and resource persons is growing along with the demand for competitive human resources in the market that is also growing. Adhikari says, â€œManagement education has improved in terms of both quality and quantity.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<strong><span style="font-size: 14px;">Student Psyche</span></strong></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">MBA students are often tagged as job creators in foreign universities for their attitude summarised as: â€œWe donâ€™t seek job. We create jobs.â€ However, that attitude is not so common among Nepali students. Pradhan says, â€œStudents are not sufficiently eager and positive towards setting up their own business. When I encourage my students about coming up with such ideas, I donâ€™t see enthusiasm in them. I think they are quite lazy. Working in a bank is considered prestigious while setting up a farm by an educated person is not given respect in our society.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari says, â€œMore than 95 per cent students are job seekers.â€ He says it is engraved in our culture to search for jobs rather than create one by taking risk of being an entrepreneur. However, he shares some examples of his students who are willing to take up an entrepreneurâ€™s career. â€œSome MBA graduates have established their own cooperatives and finance companies, which is quite positive.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dr Subas KC, Dean of KUSOM, says that most of the students in his colleges are from well-off families and they prefer easy desk jobs in banks rather than hard work, of setting up companies and being an entrepreneur.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Social psyche, parentâ€™s expectation, socialisation and schooling are blamed for this mentality of job seekers rather than job creators. In fact, MBA courses are not designed to produce graduates who seek jobs but it is designed to produce managers and entrepreneurs. Risk taking attitude is said to be missing among students and aspiring entrepreneurs.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dhakal however points out that the level of risks to be shouldered in our society is higher than in other comparable countries including in the immediate neighbourhood. Lack of security, extortions and unfavourable investment environment are driving away graduates from setting up their own business, he argues. Julie Peters, Project Director CGCIM, says her college provides incentive to students with best ideas to set up their own business at the end of their studies to promote entrepreneurship.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Curriculum</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management course covers a wide range of disciplines with focus on marketing, human resource management, organisational behaviour, and strategic management among others. Apart from these, mathematics, psychology, sociology, philosophy and economics are taught in the classrooms to the graduate students. These courses expect students to understand and manage the literally all operational aspects of the organisation. Management studies enhance the managerial skills by sharing of ideas, healthy discussions and project works, say experts.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari, who is also the President of Nepalese Academy of Management, said MBA course is designed to understand the changing perspectives in the business. MBA graduates are expected to understand new definitions and programmes, think strategically, make decisions and have a practical approach to any problem. The aspects make them expert managers and business leaders.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Number of Management Colleges</span></div>
<table border="2" cellpadding="0" cellspacing="0" style="width: 401px; height: 246px;">
	<tbody>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Courses</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Tribhuvan University</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Pokhara University</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Purbanchal University</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">Kathmandu University</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">BBS</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">533</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">BBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">18</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">35</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">23</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">4</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">MBS</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">45 in operation out of 90</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">MBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">6</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">12</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
		</tr>
		<tr>
			<td valign="top" width="69">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">EMBA</span></div>
			</td>
			<td valign="top" width="156">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">NA</span></div>
			</td>
			<td valign="top" width="124">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
			<td valign="top" width="136">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">3</span></div>
			</td>
			<td valign="top" width="143">
				<div style="text-align: justify;">
					<span style="font-size: 14px;">1</span></div>
			</td>
		</tr>
	</tbody>
</table>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari shared, â€œGeneral Motors of USA has devised three â€˜Tsâ€™ concept for its human resources - technology, talent and transformation. We need MBA graduates for such transformations.â€ He adds that MBA course in Nepal is devised to produce capable leaders who can understand and cope up with new advancements and plan, organise and execute accordingly. â€œMBA is not introduced only for the sake of MBA. It was introduced to support the emerging economy by developing such human resources that can meet the requirements either through a job or entrepreneurship,â€ he said talking about TUâ€™s management programmes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Scholars accept that the masterâ€™s level curricula on management of Nepali universities are that of the international standards. However, they often question about the way it is delivered to students. Dr Bijay KC said, â€œThe system we follow is more or less the same as in foreign universities. Many universities have accepted the credits our students have achieved primarily due to the courses we teach. Semester system, alphabetical grading evaluation, standard text books used here are similar to western system. In some cases, students may have to take some test/examination which, I think, is normal practice everywhere for any&nbsp; foreign student.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Professors think that the main gap is in the teaching-learning methods. KC explains, universities have the same curricula that cover human resource, finance, marketing, organisational behavior, economics, quantitative techniques, strategy, environment and management information system with more or less similar contents.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari and KC share the similar view that most important is the treatment of the course and its delivery in the classroom, the quality of faculty, the pedagogy used and practical exposure that the students gain during the course.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Teaching-Learning Methodology</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The classes of TU MBS are mostly based on the lecture method. However, the colleges under other universities have adopted more practical and participatory methodology to teach in MBA level. These days, traditional teaching-learning method based on lecture is deemed obsolete for any discipline. For management studies, active participation of students in group work and more practical approach, along with observatory methods are considered appropriate. In an MBA class, teacher and students challenge statements, attack and defend ideas. Inclusion of other approaches plays an important role in the learning process.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Adhikari says the central department of management is forced to adopt the traditional method of lecture as they have a huge number of students â€“ around 200 in a single class. He says this simply makes impossible to adopt the other style such as group discussions, presentations, case studies, etc.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Peters of CGCIM opines, â€œPurely academic approach will not work. The MBA course must take an approach of looking at company case study and the actual issues in that company and how they address those issues. Theories may come later. Theory is something managers already know from their experience but they donâ€™t realise that they know.â€ Dhakal from the same institute argues that for a class to be participatory and active, students too must have some kind of exposure and experience. â€œBut Nepali students are straight out of the undergraduate colleges, so the teaching methodology is confined to theories alone,â€ he said. Internationally, students can enrol into MBA course only after practical experience of a couple of years as a manager.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">An appropriately designed MBA curriculum demands for more participation, personality development and attitude development. So, the classroom must be synchronised accordingly. After graduation, students enter the job market. So, the colleges must be producing graduates who can face the real working environment. Adhikari believes, â€œTeaching-learning methodology plays a pivotal role in bridging the gap between classroom and workplace. Such environment in the class must be ensured so that they can adapt to the work environment the very next day.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Some of the business schools have tried to revolutionise the classrooms. They have introduced the concept of dual faculty in a class. Along with an academician, a professional contributor takes a class. Academician deals with the theory while the professional contributor shares his supportive working and real-life experiences. Such professional may be a Chief Executive Officer or Human Resource Manager of a bank or a corporate house.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Most graduate schools of management implement project works, participatory techniques, encourage team work, case studies and field visits and some invite visiting faculties from foreign universities. Similarly, games, participatory techniques and decision making opportunities are frequently practised in graduate schools.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">International Recognition</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The validity of degrees from Nepali universities is often questioned in foreign universities, mostly in the US and Europe. The courses adopted here, teaching method, curriculum, assessment criteria are mostly blamed for the failure of giving equal recognition to our degrees. Nepali masterâ€™s degree holders from any university mandatorily have to take up some kind of foundation course or additional credit hours in those foreign universities for them to get recognised as MBAs for employment and further degrees. Moreover, the competency of our colleges and students with the international counterparts can also be often questionable.&nbsp;Experts believe our universities and management institutes cannot be compared to the quality being offered by some universities and institutes in India and the US. However, we have been successful to devise the curriculum that is at par with the international quality for MBA as well as BBA.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In case of MBA, a student requires to meet certain requirements in USA to get enrolled. Unlike here, a student must have two years of work experience and must appear in the GMAT test before admission. Adhikari points these as some of the reasons why our degrees are not directly recognised internationally. However he claimed, â€œAlthough there is no direct recognition, our education is not derecognised anywhere in the world. After meeting some of their criteria like additional courses and credit hours, our degrees are largely recognised.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">One of the reasons Nepali young generation prefers foreign or international degrees to pursue MBA is the issue of recognition of our degrees.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Foreign Affiliation</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A number of Nepali institutes and colleges have now presented an option to acquire foreign degrees while being within the country. However, most of these colleges are centred in the capital city Kathmandu only. It is not only the Nepali colleges that are willing to bring in foreign affiliations, but also foreign universities are interested to have Nepali affiliates. The reason is the attraction of Nepali students for international degrees and thus the potential market for those colleges.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">CGCIM is the latest institute to offer post-graduate diploma affiliated to Centre for Development Management Studies (CEDEMAS), UK. Dhakal of CGCIM says that the institute was established with the idea to provide teaching in Nepal by foreigner professors. He said, â€œThis is the concept of providing a world-class degree from Nepal. Instead of students going abroad, professors come here to teach and the cost is relatively very small for the students.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Similarly, colleges like KFA, Institute of Banking &amp; Management Studies, Lord Buddha Education Foundation and some other are affiliated with Indian universities. Kingâ€™s College, Presidential Business School, Nova International College are affiliated to International American University, USA.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However, the quality of the affiliated university is also questioned by professionals in management and business studies. KC of KUSOM said, â€œUniversities that Nepali colleges are affiliated to are not much heard-of. Such co-operations will not contribute much to the development of management studies. It will be really praiseworthy if colleges can bring in affiliations from top universities like Harvard, Oxford or any other well-known universities or even Indian Institute of Management.â€</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Although the trend of getting affiliation with foreign university is increasing, the government universities are not feeling any threat. Adhikari of TU said, â€œNepali universities are in the forefront on the basis of competition and curriculum. We have much better course design that is customised with Nepali culture, system, economy, situation, need and expectation of the market.â€ Most of the foreign affiliations are based on the distance learning mode.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Sponsorship</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Funding students for business and management studies in Nepali college is not much practised by corporate houses. However, some corporate houses have financed a few students in some leading colleges. Apart from that there is also a trend to send the employees of the corporates to Indian colleges and institutes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Professors do not think that corporate houses are sending students abroad due to the crisis of trust on Nepali colleges. They believe it must be because of some extraordinary qualities that they cannot find in Nepali colleges but see in foreign ones.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">However Adhikari says, â€œCorporate houses are not investing in HR for academic programmes. I have not found a single student sponsored by corporate houses.â€ Even in EMBA, which is meant for working managers, students are studying under self-financing. According to Adhikari, in other countries, EMBA students are compulsorily sponsored by employing organisations.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">EMBA</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">EMBA is the course designed for working professionals who want to improve their leadership and management skills. It is relatively a new course introduced in Nepal. This programme is said to help managers learn, grow, and change in their career while working. It is the only post-experience management degree as the MBA here does not need any prior work experience.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">EMBA is a two years course based on semester or trimester system. The course aims to enrich both theoretical and practical knowledge. The course requires being changed and updated to keep up with pace of the evolution in the market. Students of EMBA believe it helps to tackle the challenges they face in managerial profession that keep on arising at work. The course content of EMBA is quite similar to that of MBA with more priority on the practical aspects. EMBA colleges adopt case study, participative method, group discussions, presentations, field visits, project works as their common methods of teaching-learning, supported by lectures.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Three universities â€“ KU, Purbanchal and Pokhara University â€“ are offering EMBA courses. KU has it in its own campus â€“ KUSOM while Pokhara is offering it in its central campus as well as affiliated colleges and PU is providing it through its affiliates. Assessment criteria applied in these universities is a mixed bag of practical and theoretical written exams. Moreover, most colleges have implemented the overall performance evaluation for the grading system that is usually alphabetical.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">Career Prospects and Recruitments</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Management and business graduates opt for career in the financial sector which is at present the major job market in Nepalâ€™s formal sector. Students do not much prioritise other sectors than the financial institutions as their career area. Only a few students take the path of self-employment and job-creation through entrepreneurship.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Joint venture companies are also becoming the target areas of MBA graduates for jobs. Meanwhile it is expected that the service sector, which is growing fast, will certainly attract management graduates. KUSOM has its own employment cell to coordinate job placements. Ace Institute of Management too has similar kind of on-campus and off-campus placement mechanism. Dr Subas KC said that students used to be hired by well-known corporate houses in bulk when KUSOM was the only college to offer MBA. However, bulk hiring is not much practised now, companies still reach the college searching for suitable MBAs. Apart from students searching for jobs, companies too come searching for their probable employees.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Although it is not so difficult to secure a job after MBA, the facilities, working environment and remuneration are quite low compared to their qualification. Dr Geeta Pradhan accepts that management graduates are not getting the pay in Nepal that they deserve.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In our market, performance-based pay is less in practice. The flat industrial pay scale is common. Although pay is determined by several factors like economy, industrialisation, market, countryâ€™s status, personâ€™s productivity and efficiency, it is believed that most appropriate pay system is performance-based, that is what exactly is missing here in Nepal.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;">The Future</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Nepal being a growing economy, it is certain that the need for professional managers will grow in almost every sector. With the creation of job and growth of market, management graduates will be demanded by both private and public sectors. There are sectors like hydropower might just gradually open up as attractive jobs for new graduates The job market that is confined to the banking sector is certain to expand with more joint ventures coming, growth of service sector, more industries and growth of market.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That will lead to more demand for management graduates and management schools that produce top-notch managers. The collegesâ€™ changing trend shows that they will be able to manage to cater to the demands of the market and time. For that, the teaching-learning method has to change for the better. Similarly, the research practice that is missing among the professors must be developed. Rather than studying just what is happening in the outside world, management schools must be capable to address the evolving Nepali market realities. Without researches by the universities and professors that is almost impossible to do.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Moreover, MBA colleges are blamed for utter commercialisation. To revolutionise the management studies, they require to rise above the worries of profit and loss and dedicate themselves to bring in professional management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Experts opine that the concept of business school in true sense of the term is yet to come to Nepal. Business schools are more autonomous with definite vision, mission, and goals and operate accordingly. Adhikari says that such schools have distinct identity and existence. â€œTU is planning to develop the concept of business school. The only question is the extent of autonomy.â€ He thinks that MBA colleges are coming just for the sake of money without caring to meet their social responsibilities. The courses and academic studies must address the current needs of the country. â€œBusiness schools just with the aim to get students for the sake of business will not sustain in the future. They must take ahead business education with national and international perspectives in mind and by charting out clear vision, mission and leadership,â€&nbsp; he suggests.</span></div>
<h3 style="color: blue;">
	<span style="font-size: 14px;"><br />
	</span></h3>
<h3 style="color: blue;">
	<span style="font-size: 14px;">* Alumni Speak *</span></h3>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Sujan Raja Shrestha received an MBA degree from Kathmandu University School of Management (KUSOM) in 2000. Currently a Management Consultant with Smart Food &amp; Snacks Pvt Ltd, he also manages his own business ventures â€“ Sovereign Education Network and Barahi Eco Farming Company.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Having started his professional career as an employee in various companies, he has come full circle in his decade-long professional journey. He says, â€œI have learned much and had the opportunity to implement management skills over the years.â€ Shrestha takes pride in having reached the companies he worked with (Himalayan Snacks, Smart Food etc), to new heights. He emphasises that a corporate entityâ€™s success is the result of team work to a large extent. And almost in the same breath, he doesnâ€™t forget to remind, â€œTo manage and mobilise a team well enough to obtain maximum output, we require excellent management skills.â€ He adds that these skills can be learnt and it certainly helps having a management education.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Shrestha believes that one must not pursue management education, particularly an MBA degree, only to find better employment or to get a promotion. â€œThe knowledge a student gathers while studying management builds his/her analytical skills better than ever before and pays dividends over a long period of time,â€ he explains. He opines that a competent management education helps students make more informed decisions with a greater probability of success.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">A firm believer of blending theory and practice in management education, he expresses confidence that having successfully completed their MBA programme, the students can choose any business or profession they have their heart for and want to excel at. Shrestha hopes that most management graduates will ultimately turn employers rather than remaining employees for life. â€œI look forward to the current crop of MBAs to turn entrepreneur after getting a few years experience so that they can create jobs for others and become more productive and constructive,â€ he concludes on an &nbsp;optimistic note.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Subodh Sharma Sigdel completed his MBA (Finance) from Nepal Commerce Campus, Tribhuvan University in 2000. He also attained an additional degree with an MSc in International Banking and Finance (IBF) from University of Greenwich, London in 2010. He is currently the Chief Executive Officer of CDS and Clearing Limited.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Sigdel was in the early phase of his banking career when he completed his MBA in 2000. The qualification helped him become a good leader and taught him skills related to conflict management, team motivation, plans and programmes preparation, effective communication and overall managerial acumen. After working in the banking and financial sector for more than nine years, he realised the need to get another degree that specialised in his working arena. Hence, he opted to obtain a degree in International Banking and Finance from the University of Greenwich in London. â€œThis degree has given me an excellent opportunity towards shaping my career,â€ he observes. Meanwhile, Sigdel also ran a trading institute where he trained commodity and stock investors about investing money in the market. He has been recently appointed the CEO of the first ever CDS company of Nepal, CDS and Clearing Limited which is an integral part of the capital market. â€œStudying subjects like International Capital Market and Financial Trading Techniques immensely helped me in bagging this coveted position. Besides, the IBF degree helped me with my policy making role and supervisory activities,â€ he reiterates. He credits his MBA (Finance) degree for building his career while being grateful to the MSc (IBF) qualification for shaping his career in a better direction.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">â€œManagement education has become extremely important for students aspiring for a career in management,â€ Sigdel asserts. He suggests that students should pursue a management degree because the market holds enormous opportunities for trained professionals. He adds that management career, today, is not limited to the banking and financial sector only. â€œCareer choices for management graduates are widening these days with new companies like Central Depository System, Commodity Exchanges, Credit Rating Agency, Mutual Funds and the concept of working as Commodity and Stock Trading Members have emerged in our economy,â€ he points out. Since these companies demand huge workforce, Sigdel advises students to attain relevant management education and fashion successful managerial careers for themselves.</span></div>',
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			'created' => '2011-10-11',
			'modified' => '2012-08-23',
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			'description' => 'During past one decade or so, one of the areas that witnessed a exponential growth in Nepal is the Management Education. Along with the growing demand of duly.......',
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	(int) 12 => array(
		'Article' => array(
			'id' => '472',
			'article_category_id' => '40',
			'title' => ''We Are Compelled ToStudy Foreign Cases' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;"><b>Prof Dr Geeta Pradhan</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Dean, Faculty of Management Studies</span><span style="font-size: 14px;"><img align="right" alt="" border="1" height="215" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/geeta pradhan(1).jpg" style="width: 166px; height: 215px;" vspace="10" width="166" /></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Pokhara University</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What are the emerging trends in management studies?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">New courses have been introduced in Nepal like EMBA. In MBA too, we have MBA in Finance, MBA in Global Business and we have planned for MBA in HR (Human Resource) Management and MBA in Management Information System. These courses produce expertise that is required for any corporate house or enterprise. Other course that I want to introduce is a Masters programme in Public Policy. I think the current education does not well equip those going for government and civil services.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">There is a remarkable growth in management colleges and students in Nepal. When I joined Pokhara University, there were very few students. In 2008, there was just one student in MBA. In Pokhara, there was a belief that MBA will not succeed. With the help of some officials from the university, I visited banks, institutes, chambers of commerce for searching students. They all assured to cooperate. Then, we received applications from 80 candidates while we had only 50 seats. At that time in BBA, the dropout rate was high. Admission was announced thrice for one BBA session. The growth of banking sector has also created demand for capable managers. Management studies with practical approach of teaching like internships, project works have helped graduates to contribute competitively in the organisations. Hence, there is growth in attraction to these courses and management schools.This course produces capable human resource and managers who are required in every field â€“ hospitals to corporate houses. Emerging financial institutions and corporate houses have also increased the demand for management graduates.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Some corporate houses are sending students to study in foreign colleges. Does that mean they donâ€™t trust our colleges and curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is not that our education is bad but we have not achieved their level, which we can achieve easily. I blame our attitude to ignore rules, regulations and the system. Despite having excellent course design, students are not able to perform well. If they can work accordingly, they will be capable, honest and manage their time efficiently.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Most MBA graduates seem to be targeting a job in banks. Are the MBA courses designed for that only? Do you see any&nbsp; misconception in students?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">That is a misconception. The MBA is for producing capable managers and entrepreneurs. Our society does not respect all kinds of works. Table work is always considered the best job but running a farm is taken in a different way. Bank jobs have become a symbol of prestige now. Very few students think of setting up their own businesses. I encourage students to find out ways to use hot natural springs around Pokhara and prepare proposals but I think students do not have positive attitude for such creative works.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Case study is what foreign universities opt for teaching. It is said that we donâ€™t have much cases within our country to study. Are we forced to study only the foreign cases?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">In case studies, frankly speaking, the trend of case writing is missing in Nepal. In my university too, we employ the case study method, which is a foreign concept. Good cases from Nepal are not being written. There are some professors who write them but still good cases are missing. We often encourage writing them but professors for some reasons are not willing to write them. I think they feel lazy. I feel we donâ€™t have a tendency to be competent and do something different. So, we are bound to study foreign cases though we have enough cases and examples in our own surroundings.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How suitable is our curriculum for the typical business environment of Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The curriculum suits the typical business environment of Nepal. However, the dialogue between academia and business is missing. Business is heading in one direction while business schools are in another.&nbsp;I often tell business houses to exchange resources but I donâ€™t know why it is not been possible to find a working chord.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Curriculum and teaching-learning methodology of Nepali colleges and universities are&nbsp;said to be traditional. What is your university doing to update your curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is true that we have traditional method of teaching and learning. For bringing some changes, students must have exposure and the teachers too need to have some inputs. They teach only what they have studied. That makes it quite difficult. When visiting faculties are selected I prefer MBA graduates from America. They have exposure to different methodologies and it is definitely different than teachers who got education here. We are revising the curriculum even of BBA and that has been approved by the subject committee. We have also included the course of business ethics. We continuously go on revising the curriculum.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How does the course bridge the gap between real life work place and the lessons taught in business schools?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">If there were more teachers who studied in foreign universities or from abroad, bridging the gap between classroom and the real world would have been much easier. There are many constraints. When we ask students to go for some field visits they ask the university to bear the cost. That is a hindrance. To some extent, students also need to bear these expenses when it is useful for their studies and career. I think many do not understand the concept of university. In university, students are required to manage some expenses for themselves. What they do and what they learn in classroom is reflected in the real working environment.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Nepali universities are said to have weak management and the basics like exams and results are not conducted on time. What is the main problem?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The management is not a total failure but it is also true that it is quite weak. The management is unable to enforce the rule upon students and their unrealistic demands are not suppressed. In some cases, colleges themselves are involved in encouraging students for demonstrations to change the date of scheduled exams. They reason, the course is incomplete. I think infiltration of political elements in colleges is guiding it. But we have tried to bring the session back on track by cancelling vacations. The situation is gradually improving because we are also taking firm decisions. I think one of the reasons behind such practice is, most of the time students are enrolled without proper selection due to various reasons.</span></div>',
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			'description' => 'New courses have been introduced in Nepal like EMBA. In MBA too, we have MBA in Finance, MBA in Global Business and we have planned for MBA in HR....',
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	(int) 13 => array(
		'Article' => array(
			'id' => '471',
			'article_category_id' => '40',
			'title' => ''MBA Has Become Competitive Now' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><img align="right" alt="" border="2" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/dev raj adhikari.jpg" style="width: 190px; height: 245px;" vspace="10" /></span><span style="font-size: 14px;"><b>Prof Dr Dev Raj Adhikari</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Head, Central Department of Management</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Tribhuvan University</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The growth you are talking about is the growth of management education. Four universities namely Kathmandu, Pokhara, Purbanchal and Tribhuvan University (TU) - the oldest one in the country - are contributing to the growth of management studies. Along with the growth in number of students and faculty, there is also the growth in demand for the products in the market. Market is also growing. Currently, we can see quantitative growth but there is impressive qualitative growth too. Recently, a report of Ministry of Education has revealed that the number of students going for foreign education has dropped. Management education has grown both qualitatively and quantitatively.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What are the emerging trends in management studies?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We are talking about globalisation today. That automatically reflects in our curriculum. Our curriculum cannot always be taught in the same old traditional methods because our students have to compete in the international market. The demand is growing for&nbsp;change and advancement in the management studiesâ€™ curriculum. The teaching-learning model also needs to be reformed. Some schools have adopted really good methodology but in our MBS, we have not been able to achieve the global standards due to a large number of students.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">The teaching-learning methodology is often criticised for being traditional. How have the management schools tried to change the traditional practices?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Some of the institutes are practising methods like project works, case studies and participatory techniques in classrooms. They are encouraging team work and group work. Students are often taken for industrial tours and field visits. Professionals and entrepreneurs are giving lectures while visiting faculties are being sourced from foreign universities. These are now being practised in Nepali colleges. They are trying their best because they are getting money and need to satisfy the parents and students. I have seen bank CEOs addressing the classes. Some institutes even have the system of dual faculties in which one is academician while the other may be a professional. Academician teaches theory while the professional shares his real work-life experiences. He may be the HR director of a certain bank or even a CEO. Now, MBA has become competitive. Market will judge in the future if one can or cannot deliver. Teaching-learning method is not that much traditional as in the past. In MBS, traditional method is also being used. The most popular method in the world is the lecture method. When the classroom is small and focus is on a particular group, we can go for case studies, game theories, project works, participatory techniques, create decision making opportunities. But in a large class, the same is not possible. It is being traditional because we donâ€™t have environment to use new tools and pedagogy. Some classes are traditionally run but the cases have changed a lot compared to the past. In the coming ten years, there will be a lot of changes.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is our competency compared to the level of regional and international universities?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is very difficult to say what exactly is our competency compared to other universities, especially those in India. Currently, in the growth of Indian management education, quality is especially seen in state universities and management institutes like IIM, Ahmedabad. We have not reached that level of quality in education. Here, Pokhara, Kathmandu and Purbanchal universities are leading in MBA. They have changed with time and have created the course well with a lot of planning but so far the implementation is missing. We are lagging behind in regional and international perspectives. But the TU MBS can be easily compared to Indian quality. Curriculum is good and our MBS course can be compared with good universities in India. So, what we can safely say in MBA we still have to do a lot of things because growth in business here does not have the same pace as in India. Our internship level can by no means be compared with theirs. We have also not been able to provide facilities and educational environment that Indian MBA students get. In such a case, we canâ€™t compare with them. Nevertheless, we are trying our best; our universities are trying for something similar.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Are our colleges, courses and degrees internationally recognised?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">TU is recognised worldwide as the largest university of Nepal. Any masterâ€™s degree holder from TU need to do further studies if he wants to pursue further studies in the US. MBS graduates again need to do MBA there. In USA, to do an MBA, one must compulsorily have two years of work experience but it does not apply here. And they must also appear in GMAT. Here one can directly join MBA after bachelorâ€™s degree. So, there is no direct recognition but our education is not derecognised anywhere in the world. Though they donâ€™t give exact equivalence, after completing some credit hours and some courses, our degrees are recognised well.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is our curriculum targeted at â€“ producing job seekers or job creators?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We should try to develop professional entrepreneurship as well. It is engraved in our culture that after completion of studies, everyone must do some kind of job. Everyone expects to get a good job. But there are some students who really want to develop as a professional or an entrepreneur. Some of my own students are aiming to create jobs through their entrepreneurship. More than 95 per cent students are job seekers either in national, Indian or international markets. But only a few are willing to develop as a professional or an entrepreneur. Some MBA students have even established their own cooperatives and finance companies.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How does the management course bridge the gap between real life workplace and the lessons taught in classrooms?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We need good teaching-learning method to bridge the gap between classroom and the workplace. The environment in the class must be such as the students can begin working immediately after completing the education and can adapt to the work environment. Similar kind of pedagogy, customisation and workplace-friendly curriculum must be selected. Then, we need the curriculum in accordance to the business expectation. That will bridge the gap between the classroom and the workplace otherwise there will be a difference always. If we can not bridge this gap, organisations will have to invest a lot in training and development of the new recruits from the management stream. So, these days, management colleges are focussing on training for a banking career to MBAs as the banking and finance sector is our major job market. If the gap is to be bridged, we have to make the classroom workplace friendly and design the curriculum accordingly. We have that curriculum but if we also have the similar delivery we can minimise the gap.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How do you see the current trend of colleges being affiliated to foreign universities?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">If you look at it through competition and curriculum, our local universities are in forefront. If you compare the foreign university curriculum with Nepali counterparts, we have a much better curriculum. Nepali universities are already customised with local environment while Indian university cannot be customised. You have to run according to their curriculum. Our curriculum is customised according to our culture, system, economy, situation, need and expectation. That way our curriculum is excellent and those courses have not proven any threat to us. But that does not mean it is time to stay idle. The way foreign universities are coming, they have changed the teaching-learning method. Concept of dual faculty has been introduced in Indian university affiliated colleges. It is a challenging system. That will challenge us in the future. British, American and Indian universities are willing and are coming to Nepal. However, they are mostly offering distance education, so far. Till date, we have a strong curriculum and we are not facing any threat from universities.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Most of the leadership positions in the private sector banks and corporate houses are being held by MBA graduates from foreign universities. How do you react to this?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Companies must have found some difference in these foreign graduates. They must have certain unique personality and knowledge. But that knowledge, skill, efficiency will be transferred gradually to ours too. This will not be the same forever. In the days to come, Nepali MBA graduates can also do that. It is only a matter of time. It may take a few years or a few decades. India has a long history in management studies and MBA while we have just begun teaching MBA. Such things are not negative. We can learn from them and analyse what we lack and what special they have got. Students must self actualise and they can develop themselves accordingly.</span></div>',
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		'Article' => array(
			'id' => '470',
			'article_category_id' => '40',
			'title' => ''Corporate EntitiesKnow The Importanceof Having MBAs' (September 2011)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: 14px;"><img align="right" alt="" border="0" height="192" hspace="10" src="http://newbusinessage.com/ckfinder/userfiles/Images/dr bijay kc.jpg" style="width: 159px; height: 192px;" vspace="10" width="159" /></span></p>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><b>Dr Bijay KC</b></span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Faculty Prof and Dean</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">South Asian Institute of Management (SAIM)</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">What is driving the growth of management schools in Nepal? How do you think itâ€™s going to shape up in the foreseeable future?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">I have been quite satisfied with the way things are. A good number of management schools have come up in recent years because there is a huge demand for management graduates in the job market. However, I must admit that we must adapt ourselves to the fast changing scenario of business education. The schools should also become receptive to the needs of the business enterprises because ultimately itâ€™s they who are going to provide employment to the students graduating from these schools. I also feel that the government should take an initiative to come up with a new university that will specialise in management studies. At the same time, such a university should permit only such schools and colleges that have proven themselves in the field of management education. Another important aspect is that the faculty of business schools must have a say in matters related to examinations and quality control because they best understand the needs of the students.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Is the Nepali business schoolsâ€™ curriculum well prepared to meet the demands created by globalisation? What is SAIMâ€™s curriculum targeted at â€“ producing job seekers or job creators?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">We, at SAIM, offer a programme called MBA Global Business in affiliation with Pokhara University which, fundamentally, exposes our students to global management practices. We do have some courses on entrepreneurship which are targeted at developing job creators of the future but a majority of the students prefer to join different sectors as professionals. As for a job creator, an entrepreneur must also have some knowledge on marketing, finance and resource etc. But I do realise that to make our programme more entrepreneurship-oriented, we need to have more courses included in the curriculum by our parent university.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Could you tell us about the teaching methodology at SAIM? Are the students forced to study foreign cases primarily because there is a dearth of home-grown cases?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">Yes, we mostly use foreign case studies and I see no harm in using those. These cases are actually very good and a management educationâ€™s basic purpose is to develop the skills of the students. We do have a few good home-grown cases which we use. You must understand here that good case studies are hard to come by and writing them is not an easy job.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Some corporate houses are sponsoring their fresh employees to study in foreign colleges. Do you think there is a lack of trust, on their part, in the quality of our colleges and curriculum?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">I think more than anything else it is to make their employees gain further knowledge and equip them better. If they didnâ€™t have faith in the quality of education we offer, they wouldnâ€™t hire them in the first place. My feeling is that management education is a lifelong asset for the students. Getting an MBA degree does not mean that the students know everything about management. My recommendation to the corporate houses is that after three-four years of work experience, they should look at sending these students for further studies abroad.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">A lot of students are going abroad to pursue management degrees? Why are the local colleges not able to retain them here?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The fact of the matter is that, now-a-days, a lot of Nepali students want to pursue management degrees. Itâ€™s a classic case of demand overwhelming supply as the number of seats available in Nepalâ€™s business schools is not adequate to accommodate all these management degree aspirants. We understand that there is a need for more business schools and more seats. At the same time, we cannot afford to compromise on quality. Among the many business schools operating in Nepal, there are only about four or five of them providing quality education. This limited number of colleges can accommodate around 200 students at best. Itâ€™s but obvious that a lot of students not finding a seat in these colleges will look to go abroad. Besides, some good students may get admission to world renowned business schools like IIM or Harvard, for example. In such cases, we cannot be unfair and ask them to stay back in the country for our own selfish reasons.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">How suitable is your curriculum for the typical business environment of Nepal?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">The basic concept of management education is the same around the world. For example, a course on inventory management is same whether in the US or here in Nepal. A lot of cases provide a wider perspective of problems therefore; we look at applying them in the context of Nepal. In some cases, we have to resort to modification to suit the business needs locally.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Why do you think there is tremendous attraction to business studies these days?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">It is because of the job opportunities available to management graduates in recent times. In the last decade-and-a-half or so, corporate entities have realised the importance of having them in their ranks. It has become relatively easier for MBA graduates to start professional careers based on their education. Besides, these graduates have performed and proved themselves at their respective workplaces which have compelled companies to hire suitably qualified management graduates. So, job opportunities coupled with career enhancement prospects have been instrumental in attracting scores of students towards business studies of late.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Do you think MBA graduates from Nepali business schools are paid lower than they deserve?</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">As far as remuneration is concerned, it basically differs from company to company. From the companiesâ€™ perspective, if they want to have bright students working for them, they must be prepared to pay handsomely to attract them. What also matters is an individualâ€™s ability, he/she must be prepared to perform and prove his/her worthiness to command better remuneration. Having an MBA does not automatically guarantee an excellent pay. I am sure even if some students may begin their careers by agreeing to work for a package that is less than their expectation levels, they can always prove themselves first and then demand a better pay package.</span></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;"><br />
	</span></div>
<div style="text-align: justify;">
	<strong><span style="font-size: 14px;">Tell us the way you go about campus recruitment at SAIM.</span></strong></div>
<div style="text-align: justify;">
	<span style="font-size: 14px;">At the end of the two-year programme, we prepare profiles highlighting academic background and credentials of all students that are passing out and distribute the profiles among the interested companies. A lot of these companies evince interest in particular individuals so we act as a link between the two. Itâ€™s both established companies as well as upcoming ventures that hire our graduates.</span></div>',
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Update : 2020-03-25

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