Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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		'Article' => array(
			'id' => '6238',
			'article_category_id' => '1',
			'title' => 'NTC sets up ICT centres at schools',
			'sub_title' => '',
			'summary' => 'Nepal Telecom has contributed in establishment of information communication technology (ICT) centres at schools of six earthquake-affected districts. ',
			'content' => '<p>July 18: Nepal Telecom has contributed in establishment of information communication technology (ICT) centres at schools of six earthquake-affected districts. NT provided computers, printers and other necessary equipment for the establishment of ICT centres at Sharada Secondary School, Bhojpur; Ratnachundeshwor Secondary School, Kavre; Sagarmatha Secondary School, Okhaldhunga; Kanyadevi Elementry School, Nuwakot and Setidevi Secondary School of Ramechhap.</p>

<p>The state-owned company is also preparing to install ICT centre at Jiwan Jyoti Secondary School of Solukhumbu.</p>

<p>NT has announced to provide monthly pack of 30 GB data of internet service free for two years to those ICT centres.</p>

<p>Earlier in the FY 2015/16, NT had established such ICT centres at Pashupati Kanya Secondary School, Dolkha; Gyanmandir Namuna Secondary School, Sindhupalchowk; Dashrath Chand Secondary School, Dhading; Rasuwa Higher Secondary School, Rasuwa and Indrawati Higher Secondary School of Gorkha.</p>

<p>Under its corporate social responsibility, the company has decided to establish ICT centres at 11 of the 14 worst earthquake affected districts. The project does not include the three districts of the Kathmandu valley.&nbsp;</p>
',
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			'created' => '2017-07-18',
			'modified' => '2017-07-18',
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			'sortorder' => '6023',
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			'id' => '6240',
			'article_category_id' => '1',
			'title' => 'Mahindra Opens Showroom at Itahari',
			'sub_title' => '',
			'summary' => 'Agni Group, the authorized distributor of Mahindra utility vehicles and tractors in Nepal, has opened a new showroom in Itahari.',
			'content' => '<p>July 18: Agni Group, the authorized distributor of Mahindra utility vehicles and tractors in Nepal, has opened a new showroom in Itahari. Arjun Sharma, director of Agni Group, inaugurated the showroom amid a program held on July 17. Different types of two-wheelers will be available in this showroom in addition to servicing facilities and genuine spare parts.</p>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6022',
			'image' => '20170718033047_Mahindra.jpg',
			'article_date' => '2017-07-18 00:00:00',
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			'id' => '6237',
			'article_category_id' => '1',
			'title' => 'Insurance Board gives Operating License to 3 Companies',
			'sub_title' => '',
			'summary' => 'Insurance Board of Nepal has given operating license to three out of 10 life insurance companies approved by the Ministry of Finance.  ',
			'content' => '<p>July 18: Insurance Board of Nepal has given operating license to three out of 10 life insurance companies approved by the Ministry of Finance.</p>

<p>IME Life Insurance Company, Jyoti Life Insurance Company and Unique Life Insurance Company got the license on July 5 after meeting the paid-up capital requirement of Rs 2 billion. After getting the license, the companies have fulfil certain criteria like construction of infrastructure, staff management , reinsurance contract and appointment of insurance agents within six months. The companies can start operating only after meeting all the requirements, informed Shambhuraj Lamichhane, monitoring department chief of the Insurance Board.</p>

<p>&ldquo;The last date for the three companies to start their business is January 5. But they have said they will start operating after Dashain by fulfilling all the requirements,&rdquo; said Lamichhane, adding, &ldquo;Other companies need to meet the paid-up capital requirement and then only we shall give them operating license.&rdquo;</p>

<p>Sun Nepal Life Insurance Company has applied for operating license at the board on July 17. The Insurance Board will decide about granting license to the company after studying its documents and paid-up capital status.</p>

<p>Six other companies which are yet to start the process to obtain license are Reliable Life Insurance Company, Citizen Life Insurance Company, Star Life Insurance Company, Reliance Life Insurance Company, Sanima Life Insurance Company and Mahalaxmi Life Insurance Company.</p>

<p>&nbsp;</p>

<p><strong>Steps to follow after obtaining operating license</strong></p>

<ul>
	<li>Set up office within six months (location and physical infrastructure)</li>
	<li>Appoint qualified employees and carry out risk assessment</li>
	<li>Follow civil service rules and financial regulations</li>
	<li>Form a working procedure relating to market promotion and reinsurance</li>
	<li>Commitment against money laundering and terror funding</li>
	<li>Agreement to follow all instructions issued by the Insurance Board and Insurance Act as well as regulations</li>
</ul>
',
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			'description' => '',
			'sortorder' => '6021',
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		'Article' => array(
			'id' => '6236',
			'article_category_id' => '1',
			'title' => 'AAN Demands Implementation of Clean Feed Policy',
			'sub_title' => '',
			'summary' => ' Advertising Association of Nepal (AAN) has raised serious concern regarding the government’s failure to implementation the clean feed policy. ',
			'content' => '<p>July 17: Advertising Association of Nepal (AAN) has raised serious concern regarding the government&rsquo;s failure to implementation the clean feed policy.</p>

<p>The government had recently announced to implement the clean feed policy from July 16 but it backtracked from its decision in the last minute citing various reasons.</p>

<p>AAN organised a press conference on July 17 to draw the attention of the government and demanded that the government implement the policy at the earliest. AAN had been demanding the clean feed policy since a long time for the promotion of local advertisement.</p>

<p>&ldquo;It is really sad that the government&rsquo;s announcement to implement the clean feed policy from July 16 was taken back within two days of the announcement. This has caused a loss of Rs 6 billion to the local advertising market and hampered revenue collection,&rdquo; AAN said in a statement.</p>

<p>AAN General Secretary Narayan Kumar Shrestha informed that the government made lame excuse by saying that the policy is not yet ready.</p>

<p>The clean feed policy is considered a new milestone for Nepal as it would help in commercialization and institutionalization of the local advertising market.&nbsp;</p>
',
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			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6020',
			'image' => '20170718124646_aan.jpg',
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '6235',
			'article_category_id' => '1',
			'title' => 'Nepal Telecom launches Music Nepal app',
			'sub_title' => '',
			'summary' => 'Nepal Telecom has launched music streaming service in collaboration with Music Nepal. ',
			'content' => '<p>July 17: Nepal Telecom has launched music streaming service in collaboration with Music Nepal. Nepal Telecom subscribers can download the application &ndash; Music Nepal app - &nbsp;and then listen to their favorite Nepali songs. Nepal Telecom&rsquo;s chief marketing officer Pradeep Raj Upadhyay inaugurated the service amid a function on July 16. Music Nepal&rsquo;s Managing Director Santosh Sharma thanked Nepal Telecom for making Nepali songs easily accessible to 15 million users of Nepal Telecom across the country. This service will be provided free of cost for one month and then a certain amount will be charged on a weekly or monthly basis for subscribers. The app is currently available for android phones only but will be soon available for IOS users too.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6019',
			'image' => '20170717041531_ntc.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '6228',
			'article_category_id' => '1',
			'title' => 'Experts Suggest Making Payment to India in US$ to Benefit from GST',
			'sub_title' => 'NRB Buys Indian Currency to Pay Back Again to Indian Dealers',
			'summary' => 'The purchase of Indian currency by Nepal Rastra Bank (NRB) has more than doubled in the last six years. ',
			'content' => '<p>July 17:&nbsp;The purchase of Indian currency by Nepal Rastra Bank (NRB) has more than doubled in the last six years. The central bank buys Indian currency every year in exchange for US dollars and other convertible currencies to meet the internal demand. The Indian currency is used to pay for the import of goods from India and to Indian workers. But the shortage of Indian currency is being felt in the local market as the demand is rising each year but the supply is limited.</p>

<p>Experts have warned that there is likely to be an acute shortage of both Indian currency and convertible currencies in Nepal if this trend is not controlled. This has raised the risk of Nepal&rsquo;s economy landing in crisis, according to the experts. However, the government of Nepal and the central bank seem least concerned to avoid such situation.</p>

<p>Instead of buying Indian currency with US dollars and paying back to India for the goods imported from the southern neighbour, economists have suggested that it would be wise to pay the Indian manufacturers directly in dollars.</p>

<p>Payment in dollars would be an added benefit for Nepal after India recently imposed goods and service tax (GST). As per the new taxation system in India, goods exported from India would be exempt of GST if the payment is made in dollars. This would greatly benefit the Nepali business and the cost of goods imported from India would go down in the Nepali market.</p>

<p>Besides that, the central bank doesn&rsquo;t have to take the nuisance job of buying Indian currency with dollars just to pay it back to the Indian companies. Nepal will also not have to take the blame for circulating counterfeit Indian currency in the Nepali market if its deals with India directly in dollars.</p>

<p>However, NRB is least bothered about the benefit Nepal can take from the current situation, according to the Nepali industrialists. One of the industrialists accused NRB of not even listing the raw materials that India allows to buy in dollars in the new category.</p>

<p>&ldquo;We haven&rsquo;t been able to benefit from the facility given by India due to the negligence of our own government,&rdquo; he said. &ldquo;In such condition, how can the Nepali industry become competitive?&rdquo; he questioned.</p>

<p>NRB Deputy Governor Chintamani Shiwakoti said that the Nepali economy cannot handle the payment of goods imported from India in dollars.</p>

<p>&ldquo;We have been gradually increasing import from Indian by paying dollars in various heads, as per the requirement,&rdquo; said Shiwakoti, adding, &ldquo;But we cannot allow all the deals to take place in dollars right away.&rdquo;</p>

<p>Shiwakoti argued that it is not possible at the moment to allow all transactions with Indian dealers to take place in dollars as the NRB has to keep 50 to 60 percent dollars as reserve amount.</p>

<p>However, Nepali entrepreneurs say that it would be more practical to deal with Indian manufacturers directly in dollars instead of buying Indian currency in dollars and then again paying back the same India currency. &nbsp;</p>

<p>&nbsp;</p>

<p>Purchase of Indian currency doubles in six years</p>

<p>Data provided by NRB shows that Nepal has purchased Indian currency worth Rs 441.57 billion by paying US$4.2 billion plus 120 million euros in the last fiscal year. In the FY 2068/69, NRB had purchased Indian currency worth Rs 213.95 billion.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6018',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
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		'Article' => array(
			'id' => '6227',
			'article_category_id' => '1',
			'title' => 'Government all set to open new industrial estates after 28 years',
			'sub_title' => '',
			'summary' => 'The government has formally initiated the process of expanding the industrial estate in the country after 28 years. ',
			'content' => '<p>July 17: The government has formally initiated the process of expanding the industrial estate in the country after 28 years. The government took the decision as per its vision of establishing industrial estates in all seven provinces in the new federal structure. The ruling coalition government has repeatedly announced its plan of expanding the industrial sector to retain the labour force and to create employment opportunities within the country.</p>

<p>Since the establishment of Balaju Industrial Estate 55 years ago, 10 additional industrial estates have come into operation in the country. However, Balaju Industrial Estate had got the status of industry only in 1988 AD. Since then, the government has not been able to establish any industrial estate in the country.</p>

<p>The government has already finalized the districts in all seven provinces where the industrial estates will be set up. It has also selected the land but the detailed project reports (DPR) are not yet ready. &nbsp;According to informed sources, the detailed project reports and environment impact assessment (EIA) are underway in the selected areas.&nbsp;</p>

<p>According to the general manager of Industrial Districts Management Limited, Nanda Kishor Basnet, the detailed project report and environment impact assessment of the proposed industrial estate in Mayurdhap of Makwanpur district in Province 3 will be ready by mid-October.</p>

<p>Likewise, the DPR and EIA of industrial estate in Motipur of Rupandehi district in Province 5 will also be ready during the same period. The government is planning to set up an industrial area in Motipur across 813 bighas of land.</p>

<p>Basnet further informed that the DPR is being prepared for another estate spread across 238 bighas of land in Naubasda of Banke district in Province 5.</p>

<p>The government has identified 300 bighas of land in Daichi of Kanchanpur district in Prvince 7 and 1100 bighas of land in Lamki of Kailali district of the same province for the industrial estates.</p>

<p>Likewise in Province 3, the government is planning to set up industrial estate across 1714 bighas of land in Shaktikhor of Chitwan district. Basnet informed that the government has already carried out the land survey in the area but the DPR will be ready later this year.</p>

<p>In Province 6, the government is preparing to establish an industrial estate across 1100 bighas of land in Khatakhani of Surkhet.</p>

<p>The Industrial Distircts Management Limited has received Rs 50 million from the government to prepare the DPR and for EIA.</p>

<p>The government has also set its aim at creating new cities in the mid-hills highway. It also plans to open industrial villages in ten such cities, informed Basnet.</p>
',
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			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6017',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
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		'Article' => array(
			'id' => '6231',
			'article_category_id' => '1',
			'title' => 'Internal Revenue Collection from Global IME',
			'sub_title' => '',
			'summary' => ' Global IME Bank has started collecting revenue from four different internal revenue offices situated at Lahan, Janakpur, Dharan and Tulsipur.',
			'content' => '<p>July 17: Global IME Bank has started collecting revenue from four different offices of the Inland Revenue Department situated at Lahan, Janakpur, Dharan and Tulsipur. The bank has started the service from mid-July by installing counters on the premises of the above offices, states a press release issued by the bak.</p>

<p>The bank has also installed revenue collection counters at transportation management offices of Gandaki, Koshi and Narayanghat zones.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6016',
			'image' => '20170717025915_global.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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		'Article' => array(
			'id' => '6234',
			'article_category_id' => '1',
			'title' => 'Lumbini Opens Branch at Harinagar',
			'sub_title' => '',
			'summary' => ' Lumbini Bikas Bank has opened a branch at Harinagar Village Municipality-4 of Sunsari district. ',
			'content' => '<p>July 17: Lumbini Bikas Bank has opened a branch at Harinagar Village Municipality-4 of Sunsari district. Ramu Poudel, director of NRB, inaugurated the branch amid a program held on July 14. It is the 51<sup>st</sup> branch of the bank. The branch has been established with an objective of providing loan to agricultural sector and small scale industries, informed CEO Jhalak Prasad Khanal.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6015',
			'image' => '20170717035415_Lumbini.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '6233',
			'article_category_id' => '1',
			'title' => 'Bhandari Takes Charge of Kumari Bank',
			'sub_title' => '',
			'summary' => 'Surendra Bhandari has taken charge of Kumari Bank as the chief executive officer. ',
			'content' => '<p>July 17: Surendra Bhandari has taken charge of Kumari Bank as the chief executive officer. Bhandari was recently appointed as CEO of the bank for a four-year term by the board members. The bank will be able to reach a new height under the guidance of Bhandari, who has been working successfully in the sector for long period, states a press release issued by the bank.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6014',
			'image' => '20170717034423_Kumaro ceo.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '6230',
			'article_category_id' => '1',
			'title' => 'United Finance Opens Additional Four Branches',
			'sub_title' => '',
			'summary' => 'United Finance Ltd has established four branches at different locations around the country.',
			'content' => '<p>July 17: United Finance Ltd has established four branches at different locations around the country. These branches are located at Damak and Birtamod of Jhapa, Ilam Bazar of Ilam and Birendranagar of Surkhet.</p>

<p>With the addition, the bank headquartered at the capital, now serves trough a total of 15 branches.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6013',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '6232',
			'article_category_id' => '1',
			'title' => 'Blood Donation Camp by Deva',
			'sub_title' => '',
			'summary' => 'Deva Bikas Bank organized blood donation camp on the occasion of completing 11 successful years of establishment.',
			'content' => '<p>July 17: Deva Bikas Bank organized blood donation camp on the occasion of completing 11 successful years of establishment. More than 50 people donated blood in the program organized on the occasion of its anniversary. The bank has been able to collect deposit of Rs 10.41 billion, provide loan of Rs 9.58 billion and earn gross operating profit of Rs 453.9 million in the FY 2016/17.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '6012',
			'image' => '20170717034715_Dev blood donation.jpg',
			'article_date' => '2017-07-17 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '6229',
			'article_category_id' => '1',
			'title' => 'Shangri-La Acquires Cosmos',
			'sub_title' => '',
			'summary' => 'Shangri-La Development Bank has started integrated transaction from July 14 after acquiring Cosmos Development Bank, whose head office is in Gorkha.',
			'content' => '<p>July 17: Shangri-La Development Bank has started integrated transaction from July 14 after acquiring Cosmos Development Bank, whose head office is in Gorkha.</p>

<p>After the acquisition, the paid-up capital of Baluwatar-based Shangri-La has reached Rs 1.3584 billion. The bank informed that its paid-up capital will further increase to Rs 2.4452 billion after the issuance of right shares, which has been approved by the 12<sup>th</sup> AGM of the bank.</p>

<p>Also, after the distribution of bonus shares from the profit of F/Y 2016/17, the bank will be able to meet the revised paid-up capital requirement of NRB, informed Deputy CEO Dinesh Thakali of the bank.</p>

<p>After the acquisition, the bank&rsquo;s deposit has reached Rs 12.40 billion and its loan extension to Rs 11.41 billion. The bank now owns a total of 35 branches and one extension counter.</p>
',
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			'image' => '20170717035542_shangrila.jpg',
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		'Article' => array(
			'id' => '6226',
			'article_category_id' => '1',
			'title' => 'NAC Starts Online Booking System',
			'sub_title' => '',
			'summary' => 'Nepal Airlines Corporation has started online ticketing system since July 16. ',
			'content' => '<p>July 17: Nepal Airlines Corporation has started online ticketing system since July 16. Now, there is no need to rely on travel agents or travel all the way to the airliner&rsquo;s office to book air tickets.</p>

<p>NAC believes that the online booking system will help the passengers book ticket with ease. Other airlines had already started online booking system but the national flag carrier had been relying on traditional way of ticket sales till now.</p>

<p>But now, the tickets can be booked using debit or credit card. The passengers will get notification in their cell phones about the purchase. But for the time being, only the card holders having foreign currency in their accounts can utilise this service. NAC has informed that the service will be available for Nepali currency holders after a week.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6010',
			'image' => '20170717120926_rnac.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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		'Article' => array(
			'id' => '6225',
			'article_category_id' => '1',
			'title' => 'NRB Introduces Strict Measures to Discourage Money Laundering, Terror Funding',
			'sub_title' => '',
			'summary' => ' Nepal Rastra Bank has introduced strict measures to identify bank account holders and customers using banking service without opening accounts in order to curb money laundering and terror funding.',
			'content' => '<p>July 16: Nepal Rastra Bank has introduced strict measures to identify bank account holders and customers using banking service without opening accounts in order to curb money laundering and terror funding.</p>

<p>The central bank has issued a new directive effective from July 16 to discourage the possibility of such malpractices.</p>

<p>The new directive has amended the existing provisions as well as annulled some provisions related to money laundering and funding terrorism.</p>

<p>NRB has said it has set new criteria for identification of customers as the current scheme of &lsquo;know your customer&rsquo; (KYC) has become obsolete in the changed context.</p>

<p>The central bank&rsquo;s move comes as an effort to stop legalizing black money through money laundering and to curb funding of terrorism in the new fiscal year.</p>

<p>NRB has warned of stern action to the banks and financial institutions which do not follow the new criteria set for identification of account holders. The central bank will first seek clarification from the BFIs not following the directive and warn them not to repeat the mistake. In the second phase, NRB can impose a fine or Rs 1 million if its instructions are not followed. The BFIs still defying the NRB directive will then be liable to pay a fine of Rs 5 million to 50 million.</p>

<p>If the BFIs are found to have aided in money laundering by opening fake accounts then the minimum fine is Rs 5 million. NRB has asked the BFIs to pay special attention when a high-profile person opens a new bank account. BFIs have also been instructed to inform the central bank if any individual deals in repeated transactions up to Rs 1 million within a day. Anyone depositing Rs 1 million or more amount have to mandatorily show the source of income, states the new directive.</p>

<p>BFIs also need to rate their customers as per the new provision. &nbsp;</p>
',
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include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '6238',
			'article_category_id' => '1',
			'title' => 'NTC sets up ICT centres at schools',
			'sub_title' => '',
			'summary' => 'Nepal Telecom has contributed in establishment of information communication technology (ICT) centres at schools of six earthquake-affected districts. ',
			'content' => '<p>July 18: Nepal Telecom has contributed in establishment of information communication technology (ICT) centres at schools of six earthquake-affected districts. NT provided computers, printers and other necessary equipment for the establishment of ICT centres at Sharada Secondary School, Bhojpur; Ratnachundeshwor Secondary School, Kavre; Sagarmatha Secondary School, Okhaldhunga; Kanyadevi Elementry School, Nuwakot and Setidevi Secondary School of Ramechhap.</p>

<p>The state-owned company is also preparing to install ICT centre at Jiwan Jyoti Secondary School of Solukhumbu.</p>

<p>NT has announced to provide monthly pack of 30 GB data of internet service free for two years to those ICT centres.</p>

<p>Earlier in the FY 2015/16, NT had established such ICT centres at Pashupati Kanya Secondary School, Dolkha; Gyanmandir Namuna Secondary School, Sindhupalchowk; Dashrath Chand Secondary School, Dhading; Rasuwa Higher Secondary School, Rasuwa and Indrawati Higher Secondary School of Gorkha.</p>

<p>Under its corporate social responsibility, the company has decided to establish ICT centres at 11 of the 14 worst earthquake affected districts. The project does not include the three districts of the Kathmandu valley.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6023',
			'image' => null,
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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		'Article' => array(
			'id' => '6240',
			'article_category_id' => '1',
			'title' => 'Mahindra Opens Showroom at Itahari',
			'sub_title' => '',
			'summary' => 'Agni Group, the authorized distributor of Mahindra utility vehicles and tractors in Nepal, has opened a new showroom in Itahari.',
			'content' => '<p>July 18: Agni Group, the authorized distributor of Mahindra utility vehicles and tractors in Nepal, has opened a new showroom in Itahari. Arjun Sharma, director of Agni Group, inaugurated the showroom amid a program held on July 17. Different types of two-wheelers will be available in this showroom in addition to servicing facilities and genuine spare parts.</p>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6022',
			'image' => '20170718033047_Mahindra.jpg',
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '6237',
			'article_category_id' => '1',
			'title' => 'Insurance Board gives Operating License to 3 Companies',
			'sub_title' => '',
			'summary' => 'Insurance Board of Nepal has given operating license to three out of 10 life insurance companies approved by the Ministry of Finance.  ',
			'content' => '<p>July 18: Insurance Board of Nepal has given operating license to three out of 10 life insurance companies approved by the Ministry of Finance.</p>

<p>IME Life Insurance Company, Jyoti Life Insurance Company and Unique Life Insurance Company got the license on July 5 after meeting the paid-up capital requirement of Rs 2 billion. After getting the license, the companies have fulfil certain criteria like construction of infrastructure, staff management , reinsurance contract and appointment of insurance agents within six months. The companies can start operating only after meeting all the requirements, informed Shambhuraj Lamichhane, monitoring department chief of the Insurance Board.</p>

<p>&ldquo;The last date for the three companies to start their business is January 5. But they have said they will start operating after Dashain by fulfilling all the requirements,&rdquo; said Lamichhane, adding, &ldquo;Other companies need to meet the paid-up capital requirement and then only we shall give them operating license.&rdquo;</p>

<p>Sun Nepal Life Insurance Company has applied for operating license at the board on July 17. The Insurance Board will decide about granting license to the company after studying its documents and paid-up capital status.</p>

<p>Six other companies which are yet to start the process to obtain license are Reliable Life Insurance Company, Citizen Life Insurance Company, Star Life Insurance Company, Reliance Life Insurance Company, Sanima Life Insurance Company and Mahalaxmi Life Insurance Company.</p>

<p>&nbsp;</p>

<p><strong>Steps to follow after obtaining operating license</strong></p>

<ul>
	<li>Set up office within six months (location and physical infrastructure)</li>
	<li>Appoint qualified employees and carry out risk assessment</li>
	<li>Follow civil service rules and financial regulations</li>
	<li>Form a working procedure relating to market promotion and reinsurance</li>
	<li>Commitment against money laundering and terror funding</li>
	<li>Agreement to follow all instructions issued by the Insurance Board and Insurance Act as well as regulations</li>
</ul>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6021',
			'image' => null,
			'article_date' => '2017-07-18 00:00:00',
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		'Article' => array(
			'id' => '6236',
			'article_category_id' => '1',
			'title' => 'AAN Demands Implementation of Clean Feed Policy',
			'sub_title' => '',
			'summary' => ' Advertising Association of Nepal (AAN) has raised serious concern regarding the government’s failure to implementation the clean feed policy. ',
			'content' => '<p>July 17: Advertising Association of Nepal (AAN) has raised serious concern regarding the government&rsquo;s failure to implementation the clean feed policy.</p>

<p>The government had recently announced to implement the clean feed policy from July 16 but it backtracked from its decision in the last minute citing various reasons.</p>

<p>AAN organised a press conference on July 17 to draw the attention of the government and demanded that the government implement the policy at the earliest. AAN had been demanding the clean feed policy since a long time for the promotion of local advertisement.</p>

<p>&ldquo;It is really sad that the government&rsquo;s announcement to implement the clean feed policy from July 16 was taken back within two days of the announcement. This has caused a loss of Rs 6 billion to the local advertising market and hampered revenue collection,&rdquo; AAN said in a statement.</p>

<p>AAN General Secretary Narayan Kumar Shrestha informed that the government made lame excuse by saying that the policy is not yet ready.</p>

<p>The clean feed policy is considered a new milestone for Nepal as it would help in commercialization and institutionalization of the local advertising market.&nbsp;</p>
',
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			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6020',
			'image' => '20170718124646_aan.jpg',
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '6235',
			'article_category_id' => '1',
			'title' => 'Nepal Telecom launches Music Nepal app',
			'sub_title' => '',
			'summary' => 'Nepal Telecom has launched music streaming service in collaboration with Music Nepal. ',
			'content' => '<p>July 17: Nepal Telecom has launched music streaming service in collaboration with Music Nepal. Nepal Telecom subscribers can download the application &ndash; Music Nepal app - &nbsp;and then listen to their favorite Nepali songs. Nepal Telecom&rsquo;s chief marketing officer Pradeep Raj Upadhyay inaugurated the service amid a function on July 16. Music Nepal&rsquo;s Managing Director Santosh Sharma thanked Nepal Telecom for making Nepali songs easily accessible to 15 million users of Nepal Telecom across the country. This service will be provided free of cost for one month and then a certain amount will be charged on a weekly or monthly basis for subscribers. The app is currently available for android phones only but will be soon available for IOS users too.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6019',
			'image' => '20170717041531_ntc.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '6228',
			'article_category_id' => '1',
			'title' => 'Experts Suggest Making Payment to India in US$ to Benefit from GST',
			'sub_title' => 'NRB Buys Indian Currency to Pay Back Again to Indian Dealers',
			'summary' => 'The purchase of Indian currency by Nepal Rastra Bank (NRB) has more than doubled in the last six years. ',
			'content' => '<p>July 17:&nbsp;The purchase of Indian currency by Nepal Rastra Bank (NRB) has more than doubled in the last six years. The central bank buys Indian currency every year in exchange for US dollars and other convertible currencies to meet the internal demand. The Indian currency is used to pay for the import of goods from India and to Indian workers. But the shortage of Indian currency is being felt in the local market as the demand is rising each year but the supply is limited.</p>

<p>Experts have warned that there is likely to be an acute shortage of both Indian currency and convertible currencies in Nepal if this trend is not controlled. This has raised the risk of Nepal&rsquo;s economy landing in crisis, according to the experts. However, the government of Nepal and the central bank seem least concerned to avoid such situation.</p>

<p>Instead of buying Indian currency with US dollars and paying back to India for the goods imported from the southern neighbour, economists have suggested that it would be wise to pay the Indian manufacturers directly in dollars.</p>

<p>Payment in dollars would be an added benefit for Nepal after India recently imposed goods and service tax (GST). As per the new taxation system in India, goods exported from India would be exempt of GST if the payment is made in dollars. This would greatly benefit the Nepali business and the cost of goods imported from India would go down in the Nepali market.</p>

<p>Besides that, the central bank doesn&rsquo;t have to take the nuisance job of buying Indian currency with dollars just to pay it back to the Indian companies. Nepal will also not have to take the blame for circulating counterfeit Indian currency in the Nepali market if its deals with India directly in dollars.</p>

<p>However, NRB is least bothered about the benefit Nepal can take from the current situation, according to the Nepali industrialists. One of the industrialists accused NRB of not even listing the raw materials that India allows to buy in dollars in the new category.</p>

<p>&ldquo;We haven&rsquo;t been able to benefit from the facility given by India due to the negligence of our own government,&rdquo; he said. &ldquo;In such condition, how can the Nepali industry become competitive?&rdquo; he questioned.</p>

<p>NRB Deputy Governor Chintamani Shiwakoti said that the Nepali economy cannot handle the payment of goods imported from India in dollars.</p>

<p>&ldquo;We have been gradually increasing import from Indian by paying dollars in various heads, as per the requirement,&rdquo; said Shiwakoti, adding, &ldquo;But we cannot allow all the deals to take place in dollars right away.&rdquo;</p>

<p>Shiwakoti argued that it is not possible at the moment to allow all transactions with Indian dealers to take place in dollars as the NRB has to keep 50 to 60 percent dollars as reserve amount.</p>

<p>However, Nepali entrepreneurs say that it would be more practical to deal with Indian manufacturers directly in dollars instead of buying Indian currency in dollars and then again paying back the same India currency. &nbsp;</p>

<p>&nbsp;</p>

<p>Purchase of Indian currency doubles in six years</p>

<p>Data provided by NRB shows that Nepal has purchased Indian currency worth Rs 441.57 billion by paying US$4.2 billion plus 120 million euros in the last fiscal year. In the FY 2068/69, NRB had purchased Indian currency worth Rs 213.95 billion.</p>
',
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			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6018',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '6227',
			'article_category_id' => '1',
			'title' => 'Government all set to open new industrial estates after 28 years',
			'sub_title' => '',
			'summary' => 'The government has formally initiated the process of expanding the industrial estate in the country after 28 years. ',
			'content' => '<p>July 17: The government has formally initiated the process of expanding the industrial estate in the country after 28 years. The government took the decision as per its vision of establishing industrial estates in all seven provinces in the new federal structure. The ruling coalition government has repeatedly announced its plan of expanding the industrial sector to retain the labour force and to create employment opportunities within the country.</p>

<p>Since the establishment of Balaju Industrial Estate 55 years ago, 10 additional industrial estates have come into operation in the country. However, Balaju Industrial Estate had got the status of industry only in 1988 AD. Since then, the government has not been able to establish any industrial estate in the country.</p>

<p>The government has already finalized the districts in all seven provinces where the industrial estates will be set up. It has also selected the land but the detailed project reports (DPR) are not yet ready. &nbsp;According to informed sources, the detailed project reports and environment impact assessment (EIA) are underway in the selected areas.&nbsp;</p>

<p>According to the general manager of Industrial Districts Management Limited, Nanda Kishor Basnet, the detailed project report and environment impact assessment of the proposed industrial estate in Mayurdhap of Makwanpur district in Province 3 will be ready by mid-October.</p>

<p>Likewise, the DPR and EIA of industrial estate in Motipur of Rupandehi district in Province 5 will also be ready during the same period. The government is planning to set up an industrial area in Motipur across 813 bighas of land.</p>

<p>Basnet further informed that the DPR is being prepared for another estate spread across 238 bighas of land in Naubasda of Banke district in Province 5.</p>

<p>The government has identified 300 bighas of land in Daichi of Kanchanpur district in Prvince 7 and 1100 bighas of land in Lamki of Kailali district of the same province for the industrial estates.</p>

<p>Likewise in Province 3, the government is planning to set up industrial estate across 1714 bighas of land in Shaktikhor of Chitwan district. Basnet informed that the government has already carried out the land survey in the area but the DPR will be ready later this year.</p>

<p>In Province 6, the government is preparing to establish an industrial estate across 1100 bighas of land in Khatakhani of Surkhet.</p>

<p>The Industrial Distircts Management Limited has received Rs 50 million from the government to prepare the DPR and for EIA.</p>

<p>The government has also set its aim at creating new cities in the mid-hills highway. It also plans to open industrial villages in ten such cities, informed Basnet.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6017',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '6231',
			'article_category_id' => '1',
			'title' => 'Internal Revenue Collection from Global IME',
			'sub_title' => '',
			'summary' => ' Global IME Bank has started collecting revenue from four different internal revenue offices situated at Lahan, Janakpur, Dharan and Tulsipur.',
			'content' => '<p>July 17: Global IME Bank has started collecting revenue from four different offices of the Inland Revenue Department situated at Lahan, Janakpur, Dharan and Tulsipur. The bank has started the service from mid-July by installing counters on the premises of the above offices, states a press release issued by the bak.</p>

<p>The bank has also installed revenue collection counters at transportation management offices of Gandaki, Koshi and Narayanghat zones.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6016',
			'image' => '20170717025915_global.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'id' => '6234',
			'article_category_id' => '1',
			'title' => 'Lumbini Opens Branch at Harinagar',
			'sub_title' => '',
			'summary' => ' Lumbini Bikas Bank has opened a branch at Harinagar Village Municipality-4 of Sunsari district. ',
			'content' => '<p>July 17: Lumbini Bikas Bank has opened a branch at Harinagar Village Municipality-4 of Sunsari district. Ramu Poudel, director of NRB, inaugurated the branch amid a program held on July 14. It is the 51<sup>st</sup> branch of the bank. The branch has been established with an objective of providing loan to agricultural sector and small scale industries, informed CEO Jhalak Prasad Khanal.</p>
',
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			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6015',
			'image' => '20170717035415_Lumbini.jpg',
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			'id' => '6233',
			'article_category_id' => '1',
			'title' => 'Bhandari Takes Charge of Kumari Bank',
			'sub_title' => '',
			'summary' => 'Surendra Bhandari has taken charge of Kumari Bank as the chief executive officer. ',
			'content' => '<p>July 17: Surendra Bhandari has taken charge of Kumari Bank as the chief executive officer. Bhandari was recently appointed as CEO of the bank for a four-year term by the board members. The bank will be able to reach a new height under the guidance of Bhandari, who has been working successfully in the sector for long period, states a press release issued by the bank.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6014',
			'image' => '20170717034423_Kumaro ceo.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '6230',
			'article_category_id' => '1',
			'title' => 'United Finance Opens Additional Four Branches',
			'sub_title' => '',
			'summary' => 'United Finance Ltd has established four branches at different locations around the country.',
			'content' => '<p>July 17: United Finance Ltd has established four branches at different locations around the country. These branches are located at Damak and Birtamod of Jhapa, Ilam Bazar of Ilam and Birendranagar of Surkhet.</p>

<p>With the addition, the bank headquartered at the capital, now serves trough a total of 15 branches.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6013',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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		'Article' => array(
			'id' => '6232',
			'article_category_id' => '1',
			'title' => 'Blood Donation Camp by Deva',
			'sub_title' => '',
			'summary' => 'Deva Bikas Bank organized blood donation camp on the occasion of completing 11 successful years of establishment.',
			'content' => '<p>July 17: Deva Bikas Bank organized blood donation camp on the occasion of completing 11 successful years of establishment. More than 50 people donated blood in the program organized on the occasion of its anniversary. The bank has been able to collect deposit of Rs 10.41 billion, provide loan of Rs 9.58 billion and earn gross operating profit of Rs 453.9 million in the FY 2016/17.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6012',
			'image' => '20170717034715_Dev blood donation.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 12 => array(
		'Article' => array(
			'id' => '6229',
			'article_category_id' => '1',
			'title' => 'Shangri-La Acquires Cosmos',
			'sub_title' => '',
			'summary' => 'Shangri-La Development Bank has started integrated transaction from July 14 after acquiring Cosmos Development Bank, whose head office is in Gorkha.',
			'content' => '<p>July 17: Shangri-La Development Bank has started integrated transaction from July 14 after acquiring Cosmos Development Bank, whose head office is in Gorkha.</p>

<p>After the acquisition, the paid-up capital of Baluwatar-based Shangri-La has reached Rs 1.3584 billion. The bank informed that its paid-up capital will further increase to Rs 2.4452 billion after the issuance of right shares, which has been approved by the 12<sup>th</sup> AGM of the bank.</p>

<p>Also, after the distribution of bonus shares from the profit of F/Y 2016/17, the bank will be able to meet the revised paid-up capital requirement of NRB, informed Deputy CEO Dinesh Thakali of the bank.</p>

<p>After the acquisition, the bank&rsquo;s deposit has reached Rs 12.40 billion and its loan extension to Rs 11.41 billion. The bank now owns a total of 35 branches and one extension counter.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6011',
			'image' => '20170717035542_shangrila.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
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	(int) 13 => array(
		'Article' => array(
			'id' => '6226',
			'article_category_id' => '1',
			'title' => 'NAC Starts Online Booking System',
			'sub_title' => '',
			'summary' => 'Nepal Airlines Corporation has started online ticketing system since July 16. ',
			'content' => '<p>July 17: Nepal Airlines Corporation has started online ticketing system since July 16. Now, there is no need to rely on travel agents or travel all the way to the airliner&rsquo;s office to book air tickets.</p>

<p>NAC believes that the online booking system will help the passengers book ticket with ease. Other airlines had already started online booking system but the national flag carrier had been relying on traditional way of ticket sales till now.</p>

<p>But now, the tickets can be booked using debit or credit card. The passengers will get notification in their cell phones about the purchase. But for the time being, only the card holders having foreign currency in their accounts can utilise this service. NAC has informed that the service will be available for Nepali currency holders after a week.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6010',
			'image' => '20170717120926_rnac.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '6225',
			'article_category_id' => '1',
			'title' => 'NRB Introduces Strict Measures to Discourage Money Laundering, Terror Funding',
			'sub_title' => '',
			'summary' => ' Nepal Rastra Bank has introduced strict measures to identify bank account holders and customers using banking service without opening accounts in order to curb money laundering and terror funding.',
			'content' => '<p>July 16: Nepal Rastra Bank has introduced strict measures to identify bank account holders and customers using banking service without opening accounts in order to curb money laundering and terror funding.</p>

<p>The central bank has issued a new directive effective from July 16 to discourage the possibility of such malpractices.</p>

<p>The new directive has amended the existing provisions as well as annulled some provisions related to money laundering and funding terrorism.</p>

<p>NRB has said it has set new criteria for identification of customers as the current scheme of &lsquo;know your customer&rsquo; (KYC) has become obsolete in the changed context.</p>

<p>The central bank&rsquo;s move comes as an effort to stop legalizing black money through money laundering and to curb funding of terrorism in the new fiscal year.</p>

<p>NRB has warned of stern action to the banks and financial institutions which do not follow the new criteria set for identification of account holders. The central bank will first seek clarification from the BFIs not following the directive and warn them not to repeat the mistake. In the second phase, NRB can impose a fine or Rs 1 million if its instructions are not followed. The BFIs still defying the NRB directive will then be liable to pay a fine of Rs 5 million to 50 million.</p>

<p>If the BFIs are found to have aided in money laundering by opening fake accounts then the minimum fine is Rs 5 million. NRB has asked the BFIs to pay special attention when a high-profile person opens a new bank account. BFIs have also been instructed to inform the central bank if any individual deals in repeated transactions up to Rs 1 million within a day. Anyone depositing Rs 1 million or more amount have to mandatorily show the source of income, states the new directive.</p>

<p>BFIs also need to rate their customers as per the new provision. &nbsp;</p>
',
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			'created' => '2017-07-16',
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			'sortorder' => '6009',
			'image' => null,
			'article_date' => '2017-07-16 00:00:00',
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)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '6238',
			'article_category_id' => '1',
			'title' => 'NTC sets up ICT centres at schools',
			'sub_title' => '',
			'summary' => 'Nepal Telecom has contributed in establishment of information communication technology (ICT) centres at schools of six earthquake-affected districts. ',
			'content' => '<p>July 18: Nepal Telecom has contributed in establishment of information communication technology (ICT) centres at schools of six earthquake-affected districts. NT provided computers, printers and other necessary equipment for the establishment of ICT centres at Sharada Secondary School, Bhojpur; Ratnachundeshwor Secondary School, Kavre; Sagarmatha Secondary School, Okhaldhunga; Kanyadevi Elementry School, Nuwakot and Setidevi Secondary School of Ramechhap.</p>

<p>The state-owned company is also preparing to install ICT centre at Jiwan Jyoti Secondary School of Solukhumbu.</p>

<p>NT has announced to provide monthly pack of 30 GB data of internet service free for two years to those ICT centres.</p>

<p>Earlier in the FY 2015/16, NT had established such ICT centres at Pashupati Kanya Secondary School, Dolkha; Gyanmandir Namuna Secondary School, Sindhupalchowk; Dashrath Chand Secondary School, Dhading; Rasuwa Higher Secondary School, Rasuwa and Indrawati Higher Secondary School of Gorkha.</p>

<p>Under its corporate social responsibility, the company has decided to establish ICT centres at 11 of the 14 worst earthquake affected districts. The project does not include the three districts of the Kathmandu valley.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6023',
			'image' => null,
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 1 => array(
		'Article' => array(
			'id' => '6240',
			'article_category_id' => '1',
			'title' => 'Mahindra Opens Showroom at Itahari',
			'sub_title' => '',
			'summary' => 'Agni Group, the authorized distributor of Mahindra utility vehicles and tractors in Nepal, has opened a new showroom in Itahari.',
			'content' => '<p>July 18: Agni Group, the authorized distributor of Mahindra utility vehicles and tractors in Nepal, has opened a new showroom in Itahari. Arjun Sharma, director of Agni Group, inaugurated the showroom amid a program held on July 17. Different types of two-wheelers will be available in this showroom in addition to servicing facilities and genuine spare parts.</p>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6022',
			'image' => '20170718033047_Mahindra.jpg',
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '6237',
			'article_category_id' => '1',
			'title' => 'Insurance Board gives Operating License to 3 Companies',
			'sub_title' => '',
			'summary' => 'Insurance Board of Nepal has given operating license to three out of 10 life insurance companies approved by the Ministry of Finance.  ',
			'content' => '<p>July 18: Insurance Board of Nepal has given operating license to three out of 10 life insurance companies approved by the Ministry of Finance.</p>

<p>IME Life Insurance Company, Jyoti Life Insurance Company and Unique Life Insurance Company got the license on July 5 after meeting the paid-up capital requirement of Rs 2 billion. After getting the license, the companies have fulfil certain criteria like construction of infrastructure, staff management , reinsurance contract and appointment of insurance agents within six months. The companies can start operating only after meeting all the requirements, informed Shambhuraj Lamichhane, monitoring department chief of the Insurance Board.</p>

<p>&ldquo;The last date for the three companies to start their business is January 5. But they have said they will start operating after Dashain by fulfilling all the requirements,&rdquo; said Lamichhane, adding, &ldquo;Other companies need to meet the paid-up capital requirement and then only we shall give them operating license.&rdquo;</p>

<p>Sun Nepal Life Insurance Company has applied for operating license at the board on July 17. The Insurance Board will decide about granting license to the company after studying its documents and paid-up capital status.</p>

<p>Six other companies which are yet to start the process to obtain license are Reliable Life Insurance Company, Citizen Life Insurance Company, Star Life Insurance Company, Reliance Life Insurance Company, Sanima Life Insurance Company and Mahalaxmi Life Insurance Company.</p>

<p>&nbsp;</p>

<p><strong>Steps to follow after obtaining operating license</strong></p>

<ul>
	<li>Set up office within six months (location and physical infrastructure)</li>
	<li>Appoint qualified employees and carry out risk assessment</li>
	<li>Follow civil service rules and financial regulations</li>
	<li>Form a working procedure relating to market promotion and reinsurance</li>
	<li>Commitment against money laundering and terror funding</li>
	<li>Agreement to follow all instructions issued by the Insurance Board and Insurance Act as well as regulations</li>
</ul>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6021',
			'image' => null,
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '6236',
			'article_category_id' => '1',
			'title' => 'AAN Demands Implementation of Clean Feed Policy',
			'sub_title' => '',
			'summary' => ' Advertising Association of Nepal (AAN) has raised serious concern regarding the government’s failure to implementation the clean feed policy. ',
			'content' => '<p>July 17: Advertising Association of Nepal (AAN) has raised serious concern regarding the government&rsquo;s failure to implementation the clean feed policy.</p>

<p>The government had recently announced to implement the clean feed policy from July 16 but it backtracked from its decision in the last minute citing various reasons.</p>

<p>AAN organised a press conference on July 17 to draw the attention of the government and demanded that the government implement the policy at the earliest. AAN had been demanding the clean feed policy since a long time for the promotion of local advertisement.</p>

<p>&ldquo;It is really sad that the government&rsquo;s announcement to implement the clean feed policy from July 16 was taken back within two days of the announcement. This has caused a loss of Rs 6 billion to the local advertising market and hampered revenue collection,&rdquo; AAN said in a statement.</p>

<p>AAN General Secretary Narayan Kumar Shrestha informed that the government made lame excuse by saying that the policy is not yet ready.</p>

<p>The clean feed policy is considered a new milestone for Nepal as it would help in commercialization and institutionalization of the local advertising market.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6020',
			'image' => '20170718124646_aan.jpg',
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '6235',
			'article_category_id' => '1',
			'title' => 'Nepal Telecom launches Music Nepal app',
			'sub_title' => '',
			'summary' => 'Nepal Telecom has launched music streaming service in collaboration with Music Nepal. ',
			'content' => '<p>July 17: Nepal Telecom has launched music streaming service in collaboration with Music Nepal. Nepal Telecom subscribers can download the application &ndash; Music Nepal app - &nbsp;and then listen to their favorite Nepali songs. Nepal Telecom&rsquo;s chief marketing officer Pradeep Raj Upadhyay inaugurated the service amid a function on July 16. Music Nepal&rsquo;s Managing Director Santosh Sharma thanked Nepal Telecom for making Nepali songs easily accessible to 15 million users of Nepal Telecom across the country. This service will be provided free of cost for one month and then a certain amount will be charged on a weekly or monthly basis for subscribers. The app is currently available for android phones only but will be soon available for IOS users too.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6019',
			'image' => '20170717041531_ntc.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '6228',
			'article_category_id' => '1',
			'title' => 'Experts Suggest Making Payment to India in US$ to Benefit from GST',
			'sub_title' => 'NRB Buys Indian Currency to Pay Back Again to Indian Dealers',
			'summary' => 'The purchase of Indian currency by Nepal Rastra Bank (NRB) has more than doubled in the last six years. ',
			'content' => '<p>July 17:&nbsp;The purchase of Indian currency by Nepal Rastra Bank (NRB) has more than doubled in the last six years. The central bank buys Indian currency every year in exchange for US dollars and other convertible currencies to meet the internal demand. The Indian currency is used to pay for the import of goods from India and to Indian workers. But the shortage of Indian currency is being felt in the local market as the demand is rising each year but the supply is limited.</p>

<p>Experts have warned that there is likely to be an acute shortage of both Indian currency and convertible currencies in Nepal if this trend is not controlled. This has raised the risk of Nepal&rsquo;s economy landing in crisis, according to the experts. However, the government of Nepal and the central bank seem least concerned to avoid such situation.</p>

<p>Instead of buying Indian currency with US dollars and paying back to India for the goods imported from the southern neighbour, economists have suggested that it would be wise to pay the Indian manufacturers directly in dollars.</p>

<p>Payment in dollars would be an added benefit for Nepal after India recently imposed goods and service tax (GST). As per the new taxation system in India, goods exported from India would be exempt of GST if the payment is made in dollars. This would greatly benefit the Nepali business and the cost of goods imported from India would go down in the Nepali market.</p>

<p>Besides that, the central bank doesn&rsquo;t have to take the nuisance job of buying Indian currency with dollars just to pay it back to the Indian companies. Nepal will also not have to take the blame for circulating counterfeit Indian currency in the Nepali market if its deals with India directly in dollars.</p>

<p>However, NRB is least bothered about the benefit Nepal can take from the current situation, according to the Nepali industrialists. One of the industrialists accused NRB of not even listing the raw materials that India allows to buy in dollars in the new category.</p>

<p>&ldquo;We haven&rsquo;t been able to benefit from the facility given by India due to the negligence of our own government,&rdquo; he said. &ldquo;In such condition, how can the Nepali industry become competitive?&rdquo; he questioned.</p>

<p>NRB Deputy Governor Chintamani Shiwakoti said that the Nepali economy cannot handle the payment of goods imported from India in dollars.</p>

<p>&ldquo;We have been gradually increasing import from Indian by paying dollars in various heads, as per the requirement,&rdquo; said Shiwakoti, adding, &ldquo;But we cannot allow all the deals to take place in dollars right away.&rdquo;</p>

<p>Shiwakoti argued that it is not possible at the moment to allow all transactions with Indian dealers to take place in dollars as the NRB has to keep 50 to 60 percent dollars as reserve amount.</p>

<p>However, Nepali entrepreneurs say that it would be more practical to deal with Indian manufacturers directly in dollars instead of buying Indian currency in dollars and then again paying back the same India currency. &nbsp;</p>

<p>&nbsp;</p>

<p>Purchase of Indian currency doubles in six years</p>

<p>Data provided by NRB shows that Nepal has purchased Indian currency worth Rs 441.57 billion by paying US$4.2 billion plus 120 million euros in the last fiscal year. In the FY 2068/69, NRB had purchased Indian currency worth Rs 213.95 billion.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6018',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '6227',
			'article_category_id' => '1',
			'title' => 'Government all set to open new industrial estates after 28 years',
			'sub_title' => '',
			'summary' => 'The government has formally initiated the process of expanding the industrial estate in the country after 28 years. ',
			'content' => '<p>July 17: The government has formally initiated the process of expanding the industrial estate in the country after 28 years. The government took the decision as per its vision of establishing industrial estates in all seven provinces in the new federal structure. The ruling coalition government has repeatedly announced its plan of expanding the industrial sector to retain the labour force and to create employment opportunities within the country.</p>

<p>Since the establishment of Balaju Industrial Estate 55 years ago, 10 additional industrial estates have come into operation in the country. However, Balaju Industrial Estate had got the status of industry only in 1988 AD. Since then, the government has not been able to establish any industrial estate in the country.</p>

<p>The government has already finalized the districts in all seven provinces where the industrial estates will be set up. It has also selected the land but the detailed project reports (DPR) are not yet ready. &nbsp;According to informed sources, the detailed project reports and environment impact assessment (EIA) are underway in the selected areas.&nbsp;</p>

<p>According to the general manager of Industrial Districts Management Limited, Nanda Kishor Basnet, the detailed project report and environment impact assessment of the proposed industrial estate in Mayurdhap of Makwanpur district in Province 3 will be ready by mid-October.</p>

<p>Likewise, the DPR and EIA of industrial estate in Motipur of Rupandehi district in Province 5 will also be ready during the same period. The government is planning to set up an industrial area in Motipur across 813 bighas of land.</p>

<p>Basnet further informed that the DPR is being prepared for another estate spread across 238 bighas of land in Naubasda of Banke district in Province 5.</p>

<p>The government has identified 300 bighas of land in Daichi of Kanchanpur district in Prvince 7 and 1100 bighas of land in Lamki of Kailali district of the same province for the industrial estates.</p>

<p>Likewise in Province 3, the government is planning to set up industrial estate across 1714 bighas of land in Shaktikhor of Chitwan district. Basnet informed that the government has already carried out the land survey in the area but the DPR will be ready later this year.</p>

<p>In Province 6, the government is preparing to establish an industrial estate across 1100 bighas of land in Khatakhani of Surkhet.</p>

<p>The Industrial Distircts Management Limited has received Rs 50 million from the government to prepare the DPR and for EIA.</p>

<p>The government has also set its aim at creating new cities in the mid-hills highway. It also plans to open industrial villages in ten such cities, informed Basnet.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6017',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6231',
			'article_category_id' => '1',
			'title' => 'Internal Revenue Collection from Global IME',
			'sub_title' => '',
			'summary' => ' Global IME Bank has started collecting revenue from four different internal revenue offices situated at Lahan, Janakpur, Dharan and Tulsipur.',
			'content' => '<p>July 17: Global IME Bank has started collecting revenue from four different offices of the Inland Revenue Department situated at Lahan, Janakpur, Dharan and Tulsipur. The bank has started the service from mid-July by installing counters on the premises of the above offices, states a press release issued by the bak.</p>

<p>The bank has also installed revenue collection counters at transportation management offices of Gandaki, Koshi and Narayanghat zones.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6016',
			'image' => '20170717025915_global.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6234',
			'article_category_id' => '1',
			'title' => 'Lumbini Opens Branch at Harinagar',
			'sub_title' => '',
			'summary' => ' Lumbini Bikas Bank has opened a branch at Harinagar Village Municipality-4 of Sunsari district. ',
			'content' => '<p>July 17: Lumbini Bikas Bank has opened a branch at Harinagar Village Municipality-4 of Sunsari district. Ramu Poudel, director of NRB, inaugurated the branch amid a program held on July 14. It is the 51<sup>st</sup> branch of the bank. The branch has been established with an objective of providing loan to agricultural sector and small scale industries, informed CEO Jhalak Prasad Khanal.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6015',
			'image' => '20170717035415_Lumbini.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '6233',
			'article_category_id' => '1',
			'title' => 'Bhandari Takes Charge of Kumari Bank',
			'sub_title' => '',
			'summary' => 'Surendra Bhandari has taken charge of Kumari Bank as the chief executive officer. ',
			'content' => '<p>July 17: Surendra Bhandari has taken charge of Kumari Bank as the chief executive officer. Bhandari was recently appointed as CEO of the bank for a four-year term by the board members. The bank will be able to reach a new height under the guidance of Bhandari, who has been working successfully in the sector for long period, states a press release issued by the bank.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6014',
			'image' => '20170717034423_Kumaro ceo.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '6230',
			'article_category_id' => '1',
			'title' => 'United Finance Opens Additional Four Branches',
			'sub_title' => '',
			'summary' => 'United Finance Ltd has established four branches at different locations around the country.',
			'content' => '<p>July 17: United Finance Ltd has established four branches at different locations around the country. These branches are located at Damak and Birtamod of Jhapa, Ilam Bazar of Ilam and Birendranagar of Surkhet.</p>

<p>With the addition, the bank headquartered at the capital, now serves trough a total of 15 branches.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6013',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
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			'main_news' => true,
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		'Article' => array(
			'id' => '6232',
			'article_category_id' => '1',
			'title' => 'Blood Donation Camp by Deva',
			'sub_title' => '',
			'summary' => 'Deva Bikas Bank organized blood donation camp on the occasion of completing 11 successful years of establishment.',
			'content' => '<p>July 17: Deva Bikas Bank organized blood donation camp on the occasion of completing 11 successful years of establishment. More than 50 people donated blood in the program organized on the occasion of its anniversary. The bank has been able to collect deposit of Rs 10.41 billion, provide loan of Rs 9.58 billion and earn gross operating profit of Rs 453.9 million in the FY 2016/17.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6012',
			'image' => '20170717034715_Dev blood donation.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '6229',
			'article_category_id' => '1',
			'title' => 'Shangri-La Acquires Cosmos',
			'sub_title' => '',
			'summary' => 'Shangri-La Development Bank has started integrated transaction from July 14 after acquiring Cosmos Development Bank, whose head office is in Gorkha.',
			'content' => '<p>July 17: Shangri-La Development Bank has started integrated transaction from July 14 after acquiring Cosmos Development Bank, whose head office is in Gorkha.</p>

<p>After the acquisition, the paid-up capital of Baluwatar-based Shangri-La has reached Rs 1.3584 billion. The bank informed that its paid-up capital will further increase to Rs 2.4452 billion after the issuance of right shares, which has been approved by the 12<sup>th</sup> AGM of the bank.</p>

<p>Also, after the distribution of bonus shares from the profit of F/Y 2016/17, the bank will be able to meet the revised paid-up capital requirement of NRB, informed Deputy CEO Dinesh Thakali of the bank.</p>

<p>After the acquisition, the bank&rsquo;s deposit has reached Rs 12.40 billion and its loan extension to Rs 11.41 billion. The bank now owns a total of 35 branches and one extension counter.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6011',
			'image' => '20170717035542_shangrila.jpg',
			'article_date' => '2017-07-17 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '6226',
			'article_category_id' => '1',
			'title' => 'NAC Starts Online Booking System',
			'sub_title' => '',
			'summary' => 'Nepal Airlines Corporation has started online ticketing system since July 16. ',
			'content' => '<p>July 17: Nepal Airlines Corporation has started online ticketing system since July 16. Now, there is no need to rely on travel agents or travel all the way to the airliner&rsquo;s office to book air tickets.</p>

<p>NAC believes that the online booking system will help the passengers book ticket with ease. Other airlines had already started online booking system but the national flag carrier had been relying on traditional way of ticket sales till now.</p>

<p>But now, the tickets can be booked using debit or credit card. The passengers will get notification in their cell phones about the purchase. But for the time being, only the card holders having foreign currency in their accounts can utilise this service. NAC has informed that the service will be available for Nepali currency holders after a week.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6010',
			'image' => '20170717120926_rnac.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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		'Article' => array(
			'id' => '6225',
			'article_category_id' => '1',
			'title' => 'NRB Introduces Strict Measures to Discourage Money Laundering, Terror Funding',
			'sub_title' => '',
			'summary' => ' Nepal Rastra Bank has introduced strict measures to identify bank account holders and customers using banking service without opening accounts in order to curb money laundering and terror funding.',
			'content' => '<p>July 16: Nepal Rastra Bank has introduced strict measures to identify bank account holders and customers using banking service without opening accounts in order to curb money laundering and terror funding.</p>

<p>The central bank has issued a new directive effective from July 16 to discourage the possibility of such malpractices.</p>

<p>The new directive has amended the existing provisions as well as annulled some provisions related to money laundering and funding terrorism.</p>

<p>NRB has said it has set new criteria for identification of customers as the current scheme of &lsquo;know your customer&rsquo; (KYC) has become obsolete in the changed context.</p>

<p>The central bank&rsquo;s move comes as an effort to stop legalizing black money through money laundering and to curb funding of terrorism in the new fiscal year.</p>

<p>NRB has warned of stern action to the banks and financial institutions which do not follow the new criteria set for identification of account holders. The central bank will first seek clarification from the BFIs not following the directive and warn them not to repeat the mistake. In the second phase, NRB can impose a fine or Rs 1 million if its instructions are not followed. The BFIs still defying the NRB directive will then be liable to pay a fine of Rs 5 million to 50 million.</p>

<p>If the BFIs are found to have aided in money laundering by opening fake accounts then the minimum fine is Rs 5 million. NRB has asked the BFIs to pay special attention when a high-profile person opens a new bank account. BFIs have also been instructed to inform the central bank if any individual deals in repeated transactions up to Rs 1 million within a day. Anyone depositing Rs 1 million or more amount have to mandatorily show the source of income, states the new directive.</p>

<p>BFIs also need to rate their customers as per the new provision. &nbsp;</p>
',
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include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '6238',
			'article_category_id' => '1',
			'title' => 'NTC sets up ICT centres at schools',
			'sub_title' => '',
			'summary' => 'Nepal Telecom has contributed in establishment of information communication technology (ICT) centres at schools of six earthquake-affected districts. ',
			'content' => '<p>July 18: Nepal Telecom has contributed in establishment of information communication technology (ICT) centres at schools of six earthquake-affected districts. NT provided computers, printers and other necessary equipment for the establishment of ICT centres at Sharada Secondary School, Bhojpur; Ratnachundeshwor Secondary School, Kavre; Sagarmatha Secondary School, Okhaldhunga; Kanyadevi Elementry School, Nuwakot and Setidevi Secondary School of Ramechhap.</p>

<p>The state-owned company is also preparing to install ICT centre at Jiwan Jyoti Secondary School of Solukhumbu.</p>

<p>NT has announced to provide monthly pack of 30 GB data of internet service free for two years to those ICT centres.</p>

<p>Earlier in the FY 2015/16, NT had established such ICT centres at Pashupati Kanya Secondary School, Dolkha; Gyanmandir Namuna Secondary School, Sindhupalchowk; Dashrath Chand Secondary School, Dhading; Rasuwa Higher Secondary School, Rasuwa and Indrawati Higher Secondary School of Gorkha.</p>

<p>Under its corporate social responsibility, the company has decided to establish ICT centres at 11 of the 14 worst earthquake affected districts. The project does not include the three districts of the Kathmandu valley.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6023',
			'image' => null,
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '6240',
			'article_category_id' => '1',
			'title' => 'Mahindra Opens Showroom at Itahari',
			'sub_title' => '',
			'summary' => 'Agni Group, the authorized distributor of Mahindra utility vehicles and tractors in Nepal, has opened a new showroom in Itahari.',
			'content' => '<p>July 18: Agni Group, the authorized distributor of Mahindra utility vehicles and tractors in Nepal, has opened a new showroom in Itahari. Arjun Sharma, director of Agni Group, inaugurated the showroom amid a program held on July 17. Different types of two-wheelers will be available in this showroom in addition to servicing facilities and genuine spare parts.</p>
',
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			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6022',
			'image' => '20170718033047_Mahindra.jpg',
			'article_date' => '2017-07-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '6237',
			'article_category_id' => '1',
			'title' => 'Insurance Board gives Operating License to 3 Companies',
			'sub_title' => '',
			'summary' => 'Insurance Board of Nepal has given operating license to three out of 10 life insurance companies approved by the Ministry of Finance.  ',
			'content' => '<p>July 18: Insurance Board of Nepal has given operating license to three out of 10 life insurance companies approved by the Ministry of Finance.</p>

<p>IME Life Insurance Company, Jyoti Life Insurance Company and Unique Life Insurance Company got the license on July 5 after meeting the paid-up capital requirement of Rs 2 billion. After getting the license, the companies have fulfil certain criteria like construction of infrastructure, staff management , reinsurance contract and appointment of insurance agents within six months. The companies can start operating only after meeting all the requirements, informed Shambhuraj Lamichhane, monitoring department chief of the Insurance Board.</p>

<p>&ldquo;The last date for the three companies to start their business is January 5. But they have said they will start operating after Dashain by fulfilling all the requirements,&rdquo; said Lamichhane, adding, &ldquo;Other companies need to meet the paid-up capital requirement and then only we shall give them operating license.&rdquo;</p>

<p>Sun Nepal Life Insurance Company has applied for operating license at the board on July 17. The Insurance Board will decide about granting license to the company after studying its documents and paid-up capital status.</p>

<p>Six other companies which are yet to start the process to obtain license are Reliable Life Insurance Company, Citizen Life Insurance Company, Star Life Insurance Company, Reliance Life Insurance Company, Sanima Life Insurance Company and Mahalaxmi Life Insurance Company.</p>

<p>&nbsp;</p>

<p><strong>Steps to follow after obtaining operating license</strong></p>

<ul>
	<li>Set up office within six months (location and physical infrastructure)</li>
	<li>Appoint qualified employees and carry out risk assessment</li>
	<li>Follow civil service rules and financial regulations</li>
	<li>Form a working procedure relating to market promotion and reinsurance</li>
	<li>Commitment against money laundering and terror funding</li>
	<li>Agreement to follow all instructions issued by the Insurance Board and Insurance Act as well as regulations</li>
</ul>
',
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			'created' => '2017-07-18',
			'modified' => '2017-07-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6021',
			'image' => null,
			'article_date' => '2017-07-18 00:00:00',
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		'Article' => array(
			'id' => '6236',
			'article_category_id' => '1',
			'title' => 'AAN Demands Implementation of Clean Feed Policy',
			'sub_title' => '',
			'summary' => ' Advertising Association of Nepal (AAN) has raised serious concern regarding the government’s failure to implementation the clean feed policy. ',
			'content' => '<p>July 17: Advertising Association of Nepal (AAN) has raised serious concern regarding the government&rsquo;s failure to implementation the clean feed policy.</p>

<p>The government had recently announced to implement the clean feed policy from July 16 but it backtracked from its decision in the last minute citing various reasons.</p>

<p>AAN organised a press conference on July 17 to draw the attention of the government and demanded that the government implement the policy at the earliest. AAN had been demanding the clean feed policy since a long time for the promotion of local advertisement.</p>

<p>&ldquo;It is really sad that the government&rsquo;s announcement to implement the clean feed policy from July 16 was taken back within two days of the announcement. This has caused a loss of Rs 6 billion to the local advertising market and hampered revenue collection,&rdquo; AAN said in a statement.</p>

<p>AAN General Secretary Narayan Kumar Shrestha informed that the government made lame excuse by saying that the policy is not yet ready.</p>

<p>The clean feed policy is considered a new milestone for Nepal as it would help in commercialization and institutionalization of the local advertising market.&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '6020',
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			'id' => '6235',
			'article_category_id' => '1',
			'title' => 'Nepal Telecom launches Music Nepal app',
			'sub_title' => '',
			'summary' => 'Nepal Telecom has launched music streaming service in collaboration with Music Nepal. ',
			'content' => '<p>July 17: Nepal Telecom has launched music streaming service in collaboration with Music Nepal. Nepal Telecom subscribers can download the application &ndash; Music Nepal app - &nbsp;and then listen to their favorite Nepali songs. Nepal Telecom&rsquo;s chief marketing officer Pradeep Raj Upadhyay inaugurated the service amid a function on July 16. Music Nepal&rsquo;s Managing Director Santosh Sharma thanked Nepal Telecom for making Nepali songs easily accessible to 15 million users of Nepal Telecom across the country. This service will be provided free of cost for one month and then a certain amount will be charged on a weekly or monthly basis for subscribers. The app is currently available for android phones only but will be soon available for IOS users too.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6019',
			'image' => '20170717041531_ntc.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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			'user_id' => '16'
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	),
	(int) 5 => array(
		'Article' => array(
			'id' => '6228',
			'article_category_id' => '1',
			'title' => 'Experts Suggest Making Payment to India in US$ to Benefit from GST',
			'sub_title' => 'NRB Buys Indian Currency to Pay Back Again to Indian Dealers',
			'summary' => 'The purchase of Indian currency by Nepal Rastra Bank (NRB) has more than doubled in the last six years. ',
			'content' => '<p>July 17:&nbsp;The purchase of Indian currency by Nepal Rastra Bank (NRB) has more than doubled in the last six years. The central bank buys Indian currency every year in exchange for US dollars and other convertible currencies to meet the internal demand. The Indian currency is used to pay for the import of goods from India and to Indian workers. But the shortage of Indian currency is being felt in the local market as the demand is rising each year but the supply is limited.</p>

<p>Experts have warned that there is likely to be an acute shortage of both Indian currency and convertible currencies in Nepal if this trend is not controlled. This has raised the risk of Nepal&rsquo;s economy landing in crisis, according to the experts. However, the government of Nepal and the central bank seem least concerned to avoid such situation.</p>

<p>Instead of buying Indian currency with US dollars and paying back to India for the goods imported from the southern neighbour, economists have suggested that it would be wise to pay the Indian manufacturers directly in dollars.</p>

<p>Payment in dollars would be an added benefit for Nepal after India recently imposed goods and service tax (GST). As per the new taxation system in India, goods exported from India would be exempt of GST if the payment is made in dollars. This would greatly benefit the Nepali business and the cost of goods imported from India would go down in the Nepali market.</p>

<p>Besides that, the central bank doesn&rsquo;t have to take the nuisance job of buying Indian currency with dollars just to pay it back to the Indian companies. Nepal will also not have to take the blame for circulating counterfeit Indian currency in the Nepali market if its deals with India directly in dollars.</p>

<p>However, NRB is least bothered about the benefit Nepal can take from the current situation, according to the Nepali industrialists. One of the industrialists accused NRB of not even listing the raw materials that India allows to buy in dollars in the new category.</p>

<p>&ldquo;We haven&rsquo;t been able to benefit from the facility given by India due to the negligence of our own government,&rdquo; he said. &ldquo;In such condition, how can the Nepali industry become competitive?&rdquo; he questioned.</p>

<p>NRB Deputy Governor Chintamani Shiwakoti said that the Nepali economy cannot handle the payment of goods imported from India in dollars.</p>

<p>&ldquo;We have been gradually increasing import from Indian by paying dollars in various heads, as per the requirement,&rdquo; said Shiwakoti, adding, &ldquo;But we cannot allow all the deals to take place in dollars right away.&rdquo;</p>

<p>Shiwakoti argued that it is not possible at the moment to allow all transactions with Indian dealers to take place in dollars as the NRB has to keep 50 to 60 percent dollars as reserve amount.</p>

<p>However, Nepali entrepreneurs say that it would be more practical to deal with Indian manufacturers directly in dollars instead of buying Indian currency in dollars and then again paying back the same India currency. &nbsp;</p>

<p>&nbsp;</p>

<p>Purchase of Indian currency doubles in six years</p>

<p>Data provided by NRB shows that Nepal has purchased Indian currency worth Rs 441.57 billion by paying US$4.2 billion plus 120 million euros in the last fiscal year. In the FY 2068/69, NRB had purchased Indian currency worth Rs 213.95 billion.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6018',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '6227',
			'article_category_id' => '1',
			'title' => 'Government all set to open new industrial estates after 28 years',
			'sub_title' => '',
			'summary' => 'The government has formally initiated the process of expanding the industrial estate in the country after 28 years. ',
			'content' => '<p>July 17: The government has formally initiated the process of expanding the industrial estate in the country after 28 years. The government took the decision as per its vision of establishing industrial estates in all seven provinces in the new federal structure. The ruling coalition government has repeatedly announced its plan of expanding the industrial sector to retain the labour force and to create employment opportunities within the country.</p>

<p>Since the establishment of Balaju Industrial Estate 55 years ago, 10 additional industrial estates have come into operation in the country. However, Balaju Industrial Estate had got the status of industry only in 1988 AD. Since then, the government has not been able to establish any industrial estate in the country.</p>

<p>The government has already finalized the districts in all seven provinces where the industrial estates will be set up. It has also selected the land but the detailed project reports (DPR) are not yet ready. &nbsp;According to informed sources, the detailed project reports and environment impact assessment (EIA) are underway in the selected areas.&nbsp;</p>

<p>According to the general manager of Industrial Districts Management Limited, Nanda Kishor Basnet, the detailed project report and environment impact assessment of the proposed industrial estate in Mayurdhap of Makwanpur district in Province 3 will be ready by mid-October.</p>

<p>Likewise, the DPR and EIA of industrial estate in Motipur of Rupandehi district in Province 5 will also be ready during the same period. The government is planning to set up an industrial area in Motipur across 813 bighas of land.</p>

<p>Basnet further informed that the DPR is being prepared for another estate spread across 238 bighas of land in Naubasda of Banke district in Province 5.</p>

<p>The government has identified 300 bighas of land in Daichi of Kanchanpur district in Prvince 7 and 1100 bighas of land in Lamki of Kailali district of the same province for the industrial estates.</p>

<p>Likewise in Province 3, the government is planning to set up industrial estate across 1714 bighas of land in Shaktikhor of Chitwan district. Basnet informed that the government has already carried out the land survey in the area but the DPR will be ready later this year.</p>

<p>In Province 6, the government is preparing to establish an industrial estate across 1100 bighas of land in Khatakhani of Surkhet.</p>

<p>The Industrial Distircts Management Limited has received Rs 50 million from the government to prepare the DPR and for EIA.</p>

<p>The government has also set its aim at creating new cities in the mid-hills highway. It also plans to open industrial villages in ten such cities, informed Basnet.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6017',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6231',
			'article_category_id' => '1',
			'title' => 'Internal Revenue Collection from Global IME',
			'sub_title' => '',
			'summary' => ' Global IME Bank has started collecting revenue from four different internal revenue offices situated at Lahan, Janakpur, Dharan and Tulsipur.',
			'content' => '<p>July 17: Global IME Bank has started collecting revenue from four different offices of the Inland Revenue Department situated at Lahan, Janakpur, Dharan and Tulsipur. The bank has started the service from mid-July by installing counters on the premises of the above offices, states a press release issued by the bak.</p>

<p>The bank has also installed revenue collection counters at transportation management offices of Gandaki, Koshi and Narayanghat zones.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6016',
			'image' => '20170717025915_global.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6234',
			'article_category_id' => '1',
			'title' => 'Lumbini Opens Branch at Harinagar',
			'sub_title' => '',
			'summary' => ' Lumbini Bikas Bank has opened a branch at Harinagar Village Municipality-4 of Sunsari district. ',
			'content' => '<p>July 17: Lumbini Bikas Bank has opened a branch at Harinagar Village Municipality-4 of Sunsari district. Ramu Poudel, director of NRB, inaugurated the branch amid a program held on July 14. It is the 51<sup>st</sup> branch of the bank. The branch has been established with an objective of providing loan to agricultural sector and small scale industries, informed CEO Jhalak Prasad Khanal.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6015',
			'image' => '20170717035415_Lumbini.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '6233',
			'article_category_id' => '1',
			'title' => 'Bhandari Takes Charge of Kumari Bank',
			'sub_title' => '',
			'summary' => 'Surendra Bhandari has taken charge of Kumari Bank as the chief executive officer. ',
			'content' => '<p>July 17: Surendra Bhandari has taken charge of Kumari Bank as the chief executive officer. Bhandari was recently appointed as CEO of the bank for a four-year term by the board members. The bank will be able to reach a new height under the guidance of Bhandari, who has been working successfully in the sector for long period, states a press release issued by the bank.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6014',
			'image' => '20170717034423_Kumaro ceo.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '6230',
			'article_category_id' => '1',
			'title' => 'United Finance Opens Additional Four Branches',
			'sub_title' => '',
			'summary' => 'United Finance Ltd has established four branches at different locations around the country.',
			'content' => '<p>July 17: United Finance Ltd has established four branches at different locations around the country. These branches are located at Damak and Birtamod of Jhapa, Ilam Bazar of Ilam and Birendranagar of Surkhet.</p>

<p>With the addition, the bank headquartered at the capital, now serves trough a total of 15 branches.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6013',
			'image' => null,
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6232',
			'article_category_id' => '1',
			'title' => 'Blood Donation Camp by Deva',
			'sub_title' => '',
			'summary' => 'Deva Bikas Bank organized blood donation camp on the occasion of completing 11 successful years of establishment.',
			'content' => '<p>July 17: Deva Bikas Bank organized blood donation camp on the occasion of completing 11 successful years of establishment. More than 50 people donated blood in the program organized on the occasion of its anniversary. The bank has been able to collect deposit of Rs 10.41 billion, provide loan of Rs 9.58 billion and earn gross operating profit of Rs 453.9 million in the FY 2016/17.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6012',
			'image' => '20170717034715_Dev blood donation.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6229',
			'article_category_id' => '1',
			'title' => 'Shangri-La Acquires Cosmos',
			'sub_title' => '',
			'summary' => 'Shangri-La Development Bank has started integrated transaction from July 14 after acquiring Cosmos Development Bank, whose head office is in Gorkha.',
			'content' => '<p>July 17: Shangri-La Development Bank has started integrated transaction from July 14 after acquiring Cosmos Development Bank, whose head office is in Gorkha.</p>

<p>After the acquisition, the paid-up capital of Baluwatar-based Shangri-La has reached Rs 1.3584 billion. The bank informed that its paid-up capital will further increase to Rs 2.4452 billion after the issuance of right shares, which has been approved by the 12<sup>th</sup> AGM of the bank.</p>

<p>Also, after the distribution of bonus shares from the profit of F/Y 2016/17, the bank will be able to meet the revised paid-up capital requirement of NRB, informed Deputy CEO Dinesh Thakali of the bank.</p>

<p>After the acquisition, the bank&rsquo;s deposit has reached Rs 12.40 billion and its loan extension to Rs 11.41 billion. The bank now owns a total of 35 branches and one extension counter.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6011',
			'image' => '20170717035542_shangrila.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '6226',
			'article_category_id' => '1',
			'title' => 'NAC Starts Online Booking System',
			'sub_title' => '',
			'summary' => 'Nepal Airlines Corporation has started online ticketing system since July 16. ',
			'content' => '<p>July 17: Nepal Airlines Corporation has started online ticketing system since July 16. Now, there is no need to rely on travel agents or travel all the way to the airliner&rsquo;s office to book air tickets.</p>

<p>NAC believes that the online booking system will help the passengers book ticket with ease. Other airlines had already started online booking system but the national flag carrier had been relying on traditional way of ticket sales till now.</p>

<p>But now, the tickets can be booked using debit or credit card. The passengers will get notification in their cell phones about the purchase. But for the time being, only the card holders having foreign currency in their accounts can utilise this service. NAC has informed that the service will be available for Nepali currency holders after a week.</p>
',
			'published' => true,
			'created' => '2017-07-17',
			'modified' => '2017-07-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6010',
			'image' => '20170717120926_rnac.jpg',
			'article_date' => '2017-07-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '6225',
			'article_category_id' => '1',
			'title' => 'NRB Introduces Strict Measures to Discourage Money Laundering, Terror Funding',
			'sub_title' => '',
			'summary' => ' Nepal Rastra Bank has introduced strict measures to identify bank account holders and customers using banking service without opening accounts in order to curb money laundering and terror funding.',
			'content' => '<p>July 16: Nepal Rastra Bank has introduced strict measures to identify bank account holders and customers using banking service without opening accounts in order to curb money laundering and terror funding.</p>

<p>The central bank has issued a new directive effective from July 16 to discourage the possibility of such malpractices.</p>

<p>The new directive has amended the existing provisions as well as annulled some provisions related to money laundering and funding terrorism.</p>

<p>NRB has said it has set new criteria for identification of customers as the current scheme of &lsquo;know your customer&rsquo; (KYC) has become obsolete in the changed context.</p>

<p>The central bank&rsquo;s move comes as an effort to stop legalizing black money through money laundering and to curb funding of terrorism in the new fiscal year.</p>

<p>NRB has warned of stern action to the banks and financial institutions which do not follow the new criteria set for identification of account holders. The central bank will first seek clarification from the BFIs not following the directive and warn them not to repeat the mistake. In the second phase, NRB can impose a fine or Rs 1 million if its instructions are not followed. The BFIs still defying the NRB directive will then be liable to pay a fine of Rs 5 million to 50 million.</p>

<p>If the BFIs are found to have aided in money laundering by opening fake accounts then the minimum fine is Rs 5 million. NRB has asked the BFIs to pay special attention when a high-profile person opens a new bank account. BFIs have also been instructed to inform the central bank if any individual deals in repeated transactions up to Rs 1 million within a day. Anyone depositing Rs 1 million or more amount have to mandatorily show the source of income, states the new directive.</p>

<p>BFIs also need to rate their customers as per the new provision. &nbsp;</p>
',
			'published' => true,
			'created' => '2017-07-16',
			'modified' => '2017-07-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '6009',
			'image' => null,
			'article_date' => '2017-07-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117