Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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			'id' => '6073',
			'article_category_id' => '1',
			'title' => 'Citizen’s Bank Branch at Chame',
			'sub_title' => '',
			'summary' => 'The Citizens Bank International has opened its branch at Chame, Manang district. ',
			'content' => '<p>June 20: The Citizens Bank International has opened its branch at Chame, Manang district. Ganesh Raj Pokhrel, CEO of the bank inaugurated the branch amid a program on June 19.</p>

<p>The bank now has total of 59 branches, in which 24 branches are operating inside Kathmandu valley and 35 branches are outside Kathmandu valley. Currently, the bank has 58 ATM outlets.</p>

<p>CEO Pokhrel informed that, like the other branches, all the banking facilities- remittance, draft, visa card, visa international dollar card, different kind of deposits and loan facilities, will be provided from the Chame branch as well.</p>

<p style="text-align: justify;">Meanwhile, the bank has also provided financial support to the Lokpriya Secondary School of Chame under Corporate social Responsibility.</p>
',
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			'created' => '2017-06-20',
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			'sortorder' => '5857',
			'image' => '20170620042146_chame.jpg',
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			'id' => '6072',
			'article_category_id' => '1',
			'title' => 'Global IME’s Branch in Phidim',
			'sub_title' => '',
			'summary' => 'The Global IME Bank Ltd. has opened its branch at Phidim in Panchthar district. ',
			'content' => '<p>June 20: The Global IME Bank Ltd. has opened its branch at Phidim in Panchthar district. The bank transformed its previously located extension counter into a branch in Phidim recently.</p>

<p>&nbsp;The extension counter was transformed as a branch with an objective of aiding the economic activities of the district, informed the bank.</p>

<p style="text-align: justify;">With the addition, the bank now has total of 96 branches throughout the country. All the banking facilities will be provided from the Phidim branch like its other branches in the country.</p>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
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			'sortorder' => '5856',
			'image' => '20170620041827_realgime.jpg',
			'article_date' => '2017-06-20 00:00:00',
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			'id' => '6071',
			'article_category_id' => '1',
			'title' => 'Ncell Scholarships and Excellence Awards to IOE Students',
			'sub_title' => '',
			'summary' => 'Telecom services provider Ncell has honoured outstanding students of various faculties of the Central Campus Pulchowk, Institute of Engineering (IoE) with Ncell Scholarships and Excellence Awards. ',
			'content' => '<p>June 20: Telecom services provider Ncell has honoured outstanding students of various faculties of the Central Campus Pulchowk, Institute of Engineering (IoE) with Ncell Scholarships and Excellence Awards. Organizing a programme on June 19 in the capital, the company awarded 16 outstanding graduating students with each receiving Rs 100,000 as scholarship. The company awarded the students as a part of its initiative aimed at promoting young talents and contribution to the nation by nurturing skilled human resources.</p>

<p>Speaking at the programme, Milan Sharma, Corporate Communications Expert of Ncell said that education is the foundation for development and young talents are future leaders. He added that the company has undertaken various initiatives for contributing to education and promoting talent as a part of Ncell&rsquo;s corporate social responsibility (CSR) support. &ldquo;The support and recognition awarded to deserving students under Ncell Scholarship and Excellence Awards is acknowledgement of their hard and encouragement for academic excellence,&rdquo; he said.</p>

<p>&nbsp;The scholarships and excellence awards were handed over to students jointly by the Prof Dr Tri Ratna Bajracharya, Dean of IoE, Prof Dr Gokarna Bahadur Motra, Campus Chief, Ambar Thapa,&nbsp; Chief Legal Officer of Ncell and Pranay Raj Acharya, Company Secretary and Corporate Services Director of Ncell.</p>

<p>&ldquo;Ncell under its CSR initiative had instituted Ncell Scholarship and Excellence Awards at IoE for five years in 2014 to support technical education and contribute towards development of skilled human resources,&rdquo; said the company in a press statement. Ncell has been awarding Ncell Scholarships to students securing highest annual scores and Ncell Excellence Awards to students graduating with top scores in Bachelor of Engineering (BE) Electrical, Electronics and Communication and Computer faculties.</p>

<p>&ldquo;As a responsible corporate citizen, Ncell has attached high priority to the education sector and has been carrying out various programmes since 2010,&rdquo; reads the release. According to the company, 14 girls of remote districts of Karnali and other districts who have scored good grades among the female students in SLC examinations but have faced financial difficulties to continue their further education have received Ncell Girls Scholarships.</p>

<p>Apart from education, the company has contributed in many other sectors under its CSR initiative.</p>
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			'sortorder' => '5855',
			'image' => '20170620012041_ncell.jpg',
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			'id' => '6070',
			'article_category_id' => '1',
			'title' => 'Shikhar Insurance Adds Three More Branches',
			'sub_title' => '',
			'summary' => 'Non-life insurance company Shikhar Insurance has started operation of three branches in far-western rural hilly areas.',
			'content' => '<p>June 20: Non-life insurance company Shikhar Insurance has started operation of three branches in far-western rural hilly areas. The company recently opened three outlets at Mugu, Dolpa and Kalikot districts.</p>

<p>With this, the company has now a total of 51 branches. The company also plans to operate a branch in Lukla of Solukhumbu district.&nbsp;</p>

<p>Among the non-life insurance companies, Shikhar is the only insurer which has been operating over 50 branches throughout the country.</p>

<div style="text-align: justify;">&nbsp;</div>
',
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			'modified' => '2017-06-20',
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			'sortorder' => '5854',
			'image' => '20170620010717_Shikhara-insurance.jpeg',
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			'id' => '6068',
			'article_category_id' => '1',
			'title' => 'National Co-operative Bank Relocates Pokhara Branch ',
			'sub_title' => '',
			'summary' => 'The Pokhara branch of National Co-operative Bank, previously operating from Chipledhunga, has been relocated to New Road, Pokhara on June 18',
			'content' => '<p>June 20: &nbsp;The Pokhara branch of National Co-operative Bank, previously operating from Chipledhunga, has been relocated to New Road, Pokhara on June 18.</p>

<p>The New Road branch was inaugurated by K.B Upreti, Managing Director of the Bank. Though the bank had set up a representative office since 2006 in Pokhara, the branch was only established in 2009.</p>

<p style="text-align: justify;">The Pokhara branch has 325 cooperatives as shareholders, informed Kedar Nath Uprety, the Branch Manager. The bank has 38 branches throughout the country.</p>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5852',
			'image' => '20170620122310_cooperative bank.jpg',
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		'Article' => array(
			'id' => '6067',
			'article_category_id' => '1',
			'title' => 'Siddhartha Devt Bank's Branch at Arghakhanchi',
			'sub_title' => '',
			'summary' => 'Siddhartha Development Bank has opened a branch at Sandhikharka in Arghakhanchi district',
			'content' => '<p>June 20: Siddhartha Development Bank has opened a branch at Sandhikharka in Arghakhanchi district.</p>

<p>Dilli Raj Pokhrel, Chief District Officer of Arghakhanchi district inaugurated the branch on 18<sup>th</sup> June. He said that the bank should also focus on Corporate Social Responsibility.</p>

<p>The bank has also opened an ATM outlet with its branch at the same place. Customers can have access to all the modern banking facilities, said Ram Bahadur Bhandari, Chairman of the bank.</p>

<p>Ajay Kumar Mishra, CEO of the bank claimed that the branch will be instrumental in providing modern banking services to the rural people.&nbsp;</p>

<p style="text-align: justify;">It is the 38<sup>th</sup> branch of the bank. The bank being in last phase of acquisition of Janata Bank will have a total of 112 branches throughout the Nepal after acquisition.&nbsp;</p>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
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			'sortorder' => '5851',
			'image' => '20170620121822_siddhartha.jpg',
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			'id' => '6066',
			'article_category_id' => '1',
			'title' => 'MetLife Supports in Post-EQ Reconstruction',
			'sub_title' => '',
			'summary' => 'Executive officer of MetLife Inc, an American holding company, for Asia region has recently collaborated with Habitat for Humanity Nepal to help reconstruct the homes of communities of Panchkhal, Kavre affected by the devastating earthquake two years ago',
			'content' => '<p>June 18: Executive officer of MetLife Inc, an American holding company, for Asia region has recently collaborated with Habitat for Humanity Nepal to help reconstruct the homes of communities of Panchkhal, Kavre affected by the devastating earthquake two years ago.</p>

<p>The group under the supervision of Bon Cho, Senior Vice-President of Asia MetLife extended their support for the restoration.</p>

<p>Twenty-one executives of the company visiting Nepal for 3-days from Japan, South Korea, China, Australia, Hong Kong, Malaysia, India, Bangladesh and USA also volunteered in the programme.</p>

<p style="text-align: justify;">Last year, around hundred employees of MetLife Nepal volunteered in a similar programme conducted for helping communities in their household activities in the earthquake affected areas of Kavre district.</p>
',
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			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5850',
			'image' => '20170618062222_metlife.jpg',
			'article_date' => '2017-06-18 00:00:00',
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			'id' => '6065',
			'article_category_id' => '1',
			'title' => 'ATM Outlet of Garima at Mahendrapool',
			'sub_title' => '',
			'summary' => 'Garima Bikas Bank has opened an ATM outlet at Mahendrapool, Pokhara',
			'content' => '<p>June 18: Garima Bikas Bank has opened an ATM outlet at Mahendrapool, Pokhara.</p>

<p style="text-align: justify;">Chandra Kanta Baral, Director of the bank inaugurated the ATM amid a programme on June 17. It is the 10<sup>th</sup> ATM outlet of Garima Bikas Bank which is headquartered at Lazimpat, Kathmandu</p>
',
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			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5849',
			'image' => '20170618062033_garima.jpg',
			'article_date' => '2017-06-18 00:00:00',
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			'id' => '6064',
			'article_category_id' => '1',
			'title' => 'NMB Opens Four New Branches At Once',
			'sub_title' => '',
			'summary' => 'NMB Bank has opened four branches at different parts of the country on June 15',
			'content' => '<p>June 18: NMB Bank has opened four branches at different parts of the country on June 15. The branches are situated at Beni of Myagdi, Nijgadh of Bara, Hetauda of Makwanpur and Kawasoti of Nawalparasi.</p>

<p>The branches were inaugurated by organising separate programs. &ldquo;The bank will be able to extend its services to more places by opening different branches in the country,&rdquo; said Sunil KC, CEO of NMB Bank.</p>

<p style="text-align: justify;">With the addition, the bank now has a total of 80 branches, 64 ATM outlets and five extension counters.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5848',
			'image' => '20170618061915_NMB.jpg',
			'article_date' => '2017-06-18 00:00:00',
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			'id' => '6063',
			'article_category_id' => '1',
			'title' => 'Merger has Made Banks Stronger: Governor ',
			'sub_title' => '',
			'summary' => 'Governor of Nepal Rastra Bank (NRB) Chiranjivi Nepal has said that Nepali banks are getting stronger due to merger',
			'content' => '<p>June 18: Governor of Nepal Rastra Bank (NRB) Chiranjivi Nepal has said that Nepali banks are getting stronger due to merger.</p>

<p>He made such remarks at the merger ceremony between the Pokhara-based Om Development Bank headquartered in Pokhara and Gorkha-based Manaslu Bikas Bank held at Pokhara on June 16. He mentioned that the mergers of BFIs have made an important contribution to increase the paid-up capital of the banks.</p>

<p>&quot;Banks are meeting the capital requirement as specified by NRB through mergers. In the last two years of capital growth, some banks have already met the minimum paid-up capital requirement, while some are in process of achieving it,&quot; said Nepal.</p>

<p>&ldquo;The number of banks has been decreasing due to mergers. After mergers, the number of commercial banks has come down to 28 from 31. Similarly, there are now 30 development banks from 89 earlier. Likewise, the number of finance companies has come down to 20 from 79,&rdquo; he added.</p>

<p>NRB aims to make the banks stronger with the capital growth strategy and the banks have been successful in doing so, claimed the Governor.</p>

<p>He said that banks those were limited to small transactions in the past are now capable of making huge investments. Though the government has planned to open branches of banks throughout the country in the local levels, various reasons such as lack of security in remote areas is proving to be an obstacle, he added.</p>

<p>In the program, Man Bahadur GC, the newly elected Mayor of Pokhara Metropolitan City committed to turn Pokhara into a vibrant place for young entrepreneurs and also requested the banks to provide loans easily for the purpose.</p>

<p>Meanwhile, Ananda Raj Mulmi, former president of FNCCI said that banks needed to become more trustworthy by maintaining proper financial discipline.</p>

<p>Banks should be able to earn customer&rsquo;s confidence by proper management of the mergers as well as being considerate to the investors, said Bharat Raj Dhakal, President of the Development Bankers Association Nepal (DBAN).</p>

<p style="text-align: justify;">The merged entity has been named as Om Development Bank. The paid-up capital of the merged entity will reach to Rs 1.65 billion with deposit totaling to Rs 15.4 billion and extension of loans amounting to Rs 13.8 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5847',
			'image' => '20170618061818_merger.jpg',
			'article_date' => '2017-06-18 00:00:00',
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		'Article' => array(
			'id' => '6062',
			'article_category_id' => '1',
			'title' => 'NIBL’s Extension Counter Near Upper Karnali Project Site',
			'sub_title' => '',
			'summary' => 'Nepal Investment Bank Limited (NIBL) has opened an extension counter near the Upper Karnali Hydropower Project area in Daba of Dailekh district',
			'content' => '<p>June 16: Nepal Investment Bank Limited (NIBL) has opened an extension counter near the Upper Karnali Hydropower Project area in Daba of Dailekh district.</p>

<p>The bank is started operation of the extension counter from June 15 after GMR, the developer of the hydroelectric project, made preparations to distribute compensation related to land acquisition to the locals affected by the development of the project.</p>

<p>Krishna Raj Joshi, Branch Manager of the bank in Surkhet inaugurated the extension counter. According to the bank, customers will have access to all financial services in addition to loan facility from the counter. The extension counter was opened due to legal provision of distributing compensation to locals only through the bank account, informed Joshi.</p>

<p>Meanwhile, the bank has also opened two branches in far-western region on 15<sup>th</sup> June. The branches are located at Dipayal of Doti and Mangalsen of Achham.</p>

<p style="text-align: justify;">The bank said that the branches will make it easy to conduct financial transactions for the local residents. Currently, the bank is providing financial services from 49 branches, 2 extension counters, 83 ATM outlets and 57 branchless banking throughout the country.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5846',
			'image' => null,
			'article_date' => '2017-06-16 00:00:00',
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		'Article' => array(
			'id' => '6061',
			'article_category_id' => '1',
			'title' => 'Jyoti Bikas’s Supports Construction of Zebra Crossings ',
			'sub_title' => '',
			'summary' => 'Jyoti Bikas Bank has provided its support in constructing zebra crossings in Kathmandu',
			'content' => '<p>Jun 16: Jyoti Bikas Bank has provided its support in constructing zebra crossings in Kathmandu. The bank under its corporate social responsibility (CSR) assisted in the construction of zebra crossings near its head office at Kamaladi, Pragya Bhawan, Kamaladi Ganesh Temple and Bhadra Kali Temple in order to bring down road accidents and make it convenient to the pedestrians to cross the roads.</p>

<p style="text-align: justify;">&ldquo;The bank will continue such contributions in the future,&rdquo; said Krishna Bahadur Kunwar, CEO of Jyoti Bikas Bank. The Bank conducted the activity in coordinating with the Traffic Police Division at Ramshah Path.</p>
',
			'published' => true,
			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5845',
			'image' => '20170616060728_jyoti.jpg',
			'article_date' => '2017-06-16 00:00:00',
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		'Article' => array(
			'id' => '6060',
			'article_category_id' => '1',
			'title' => 'No Progress in Construction of Kathmandu-Terai Fast Track Road ',
			'sub_title' => '',
			'summary' => 'The construction of the much awaited Kathmandu-Terai Fast Track Road has not moved ahead due to the absence of work procedures. Te government is yet to approve the work procedure for the implementation of the project',
			'content' => '<p>June 16: The construction of the much awaited Kathmandu-Terai Fast Track Road has not moved ahead due to the absence of work procedures. Te government is yet to approve the work procedure for the implementation of the project. &nbsp;</p>

<p>Dubbed as the Project of National Pride, the road is being viewed as the shortest highway connecting capital valley and the southern Terai region.</p>

<p>&nbsp;The Ministry of Defense (MoD) has already prepared the work procedure as per the request of the Ministry of Physical Infrastructure and Transport (MoPIT) on May 19. However, the non-approval of the work procedure which was already prepared by MoPIT two weeks ago has created obstacles to progress the project.</p>

<p>The Nepal Army has taken the responsibility to construct the project. The project which is being constructed with Nepali investment is expected to conclude within the next four years.</p>

<p>The then Prime Minister Pushpa Kamal Dahal formally inaugurated the construction work of the Fast Track Road on May 28. The project entered implementation phase nine years after its declaration.</p>

<p>According to a source at MoD, different working committees have been formed to move ahead the project. However, problem has been created as due rights have not been assigned to the committees.</p>

<p>The work procedure is being discussed by the Office of the Prime Minister and other bodies, a source said. Two committees have been formed for the mobilization of construction work, inspection and coordination.</p>

<p>A monitoring committee headed by high level army officer will submit a report of construction works to Prime Minister&#39;s Office and MoD every month.</p>

<p style="text-align: justify;">The government had allocated Rs 10 billion for the project in the current FY. According to the source at MoD, the remaining unspent amount not spent so far will be given to the Nepal Army. &nbsp;Satyendra Shakya, Chief of the Kathmandu-Terai Fast Track Project informed that Rs 7 billion has been released for the purpose till date. &nbsp;&nbsp;</p>
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			'id' => '6059',
			'article_category_id' => '1',
			'title' => 'BFIs Risk Losing Good Debtors Due to High Base Rate',
			'sub_title' => '',
			'summary' => 'As the banks and financial institutions with high base rates charge higher interest rates on loans, they are likely to lose good debtors',
			'content' => '<p>June 16: As the banks and financial institutions with high base rates charge higher interest rates on loans, they are likely to lose good debtors.</p>

<p>The situation was created after the Nepal Rastra Bank (NRB) directed the BFIs to fix the interest rates of loans on the basis of base rate.</p>

<p>As per the directive, the BFIs cannot charge interest rates on loans less than the base rates. Due to this system, debtors paying back the loans on time are likely to be attracted towards low base rate BFIs. As a result, the profit of BFIs with higher base rate can be decreased and this will compel the financial institutions to go to merger.</p>

<p>Earlier, BFIs having high base rate were also providing loans on low interest rate and though NRB had made declaration for base rate, the interest of loans was not associated with it. The BFIs are required to publish their base rate on a monthly basis.</p>

<p>According to the third quarter financial reports published by the commercial banks, their present base rate is not less than six percent due to which the interest on loans will not be less than eight percent.</p>

<p>Similarly, some banks even have to charge interest rates more than 12 percent. As per the third quarter financial reports published by banks and financial institutions, base rate of BFIs ranges from 5.71 percent to 11.42 percent.</p>

<p>The statistics till April 13 of the current fiscal year shows that the base rate of Standard Chartered, Rastriya Banijya Bank, Nabil Bank and Nepal Bank is less than six percent. Likewise, the base rate of Himalayan Bank, Everest, Siddhartha, Prime and Bangladesh Bank stands around eight percent.</p>

<p style="text-align: justify;">Laxman Risal, CEO of NIC Asia Bank opines that the high base rate will be a distracting factor for big and good debtors. The base rate of NIC Asia which was 10 percent till April 13, has reached 10.50 percent by May 14.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</p>
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			'sortorder' => '5843',
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			'id' => '6058',
			'article_category_id' => '1',
			'title' => 'Enterprise Calls Applications for Third Batch of NBAP',
			'sub_title' => '',
			'summary' => 'Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP)',
			'content' => '<p>June 15: Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP).</p>

<p style="text-align: justify;">The programme is designed for companies which have completed three years and are looking to fine-tune their business models, have innovative and dedicated team members to raise funds from investors, and move to the next level of business growth.</p>

<p>According to Ajay Shrestha, Program Director at Enterprise, a lot of small and medium size enterprises (SMEs) do not have access to technical and financial resources to grow.&nbsp; He shares that business accelerator can add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy. &ldquo;By doing so, Enterprise helps them develop their internal capacity and makes them more attractive to investors,&rdquo; he says.</p>

<p>Issuing a press statement Enterprise mentions that, it has successfully mentored companies including Foodmandu, Ingrails, Aiden Engineering, A.C.T 360, Funkey Delights and Vim Vox in the second batch</p>

<p>&quot;The last batch got an opportunity to work with some of the leading industry experts in the country to reassess their business models and pitched their businesses to a select group of banks, angel investors, venture capital funds, and private equity funds on the Demo-Day,&quot; reads the statement.</p>

<p>As per Enterprise, out of the six participating companies, three have already received investments. &ldquo;The size of the investment in these companies averages Rs 8 million,&rdquo; says the company. The other three have received term sheets from investors and are in the final stages of negotiation.</p>

<p>Enterprise Batch Three will incorporate 10 teams and is scheduled to begin on 1st August, 2017. The registration of applications closes on 30th June 2017.</p>

<p>Enterprise has been working on developing ecosystem for venture capital and private equity investment in Nepal. This programme, which is managed and funded by True North Associates, an investment, consulting, and management firm based in Nepal, was initiated by Nepalese Young Entrepreneurs&rsquo; Forum (NYEF) in partnership with Centre for Creation of Economic Wealth (CCEW) at the University of Oklahoma.&nbsp;</p>
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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
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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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		'Article' => array(
			'id' => '6073',
			'article_category_id' => '1',
			'title' => 'Citizen’s Bank Branch at Chame',
			'sub_title' => '',
			'summary' => 'The Citizens Bank International has opened its branch at Chame, Manang district. ',
			'content' => '<p>June 20: The Citizens Bank International has opened its branch at Chame, Manang district. Ganesh Raj Pokhrel, CEO of the bank inaugurated the branch amid a program on June 19.</p>

<p>The bank now has total of 59 branches, in which 24 branches are operating inside Kathmandu valley and 35 branches are outside Kathmandu valley. Currently, the bank has 58 ATM outlets.</p>

<p>CEO Pokhrel informed that, like the other branches, all the banking facilities- remittance, draft, visa card, visa international dollar card, different kind of deposits and loan facilities, will be provided from the Chame branch as well.</p>

<p style="text-align: justify;">Meanwhile, the bank has also provided financial support to the Lokpriya Secondary School of Chame under Corporate social Responsibility.</p>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5857',
			'image' => '20170620042146_chame.jpg',
			'article_date' => '2017-06-20 00:00:00',
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			'id' => '6072',
			'article_category_id' => '1',
			'title' => 'Global IME’s Branch in Phidim',
			'sub_title' => '',
			'summary' => 'The Global IME Bank Ltd. has opened its branch at Phidim in Panchthar district. ',
			'content' => '<p>June 20: The Global IME Bank Ltd. has opened its branch at Phidim in Panchthar district. The bank transformed its previously located extension counter into a branch in Phidim recently.</p>

<p>&nbsp;The extension counter was transformed as a branch with an objective of aiding the economic activities of the district, informed the bank.</p>

<p style="text-align: justify;">With the addition, the bank now has total of 96 branches throughout the country. All the banking facilities will be provided from the Phidim branch like its other branches in the country.</p>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
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			'sortorder' => '5856',
			'image' => '20170620041827_realgime.jpg',
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			'id' => '6071',
			'article_category_id' => '1',
			'title' => 'Ncell Scholarships and Excellence Awards to IOE Students',
			'sub_title' => '',
			'summary' => 'Telecom services provider Ncell has honoured outstanding students of various faculties of the Central Campus Pulchowk, Institute of Engineering (IoE) with Ncell Scholarships and Excellence Awards. ',
			'content' => '<p>June 20: Telecom services provider Ncell has honoured outstanding students of various faculties of the Central Campus Pulchowk, Institute of Engineering (IoE) with Ncell Scholarships and Excellence Awards. Organizing a programme on June 19 in the capital, the company awarded 16 outstanding graduating students with each receiving Rs 100,000 as scholarship. The company awarded the students as a part of its initiative aimed at promoting young talents and contribution to the nation by nurturing skilled human resources.</p>

<p>Speaking at the programme, Milan Sharma, Corporate Communications Expert of Ncell said that education is the foundation for development and young talents are future leaders. He added that the company has undertaken various initiatives for contributing to education and promoting talent as a part of Ncell&rsquo;s corporate social responsibility (CSR) support. &ldquo;The support and recognition awarded to deserving students under Ncell Scholarship and Excellence Awards is acknowledgement of their hard and encouragement for academic excellence,&rdquo; he said.</p>

<p>&nbsp;The scholarships and excellence awards were handed over to students jointly by the Prof Dr Tri Ratna Bajracharya, Dean of IoE, Prof Dr Gokarna Bahadur Motra, Campus Chief, Ambar Thapa,&nbsp; Chief Legal Officer of Ncell and Pranay Raj Acharya, Company Secretary and Corporate Services Director of Ncell.</p>

<p>&ldquo;Ncell under its CSR initiative had instituted Ncell Scholarship and Excellence Awards at IoE for five years in 2014 to support technical education and contribute towards development of skilled human resources,&rdquo; said the company in a press statement. Ncell has been awarding Ncell Scholarships to students securing highest annual scores and Ncell Excellence Awards to students graduating with top scores in Bachelor of Engineering (BE) Electrical, Electronics and Communication and Computer faculties.</p>

<p>&ldquo;As a responsible corporate citizen, Ncell has attached high priority to the education sector and has been carrying out various programmes since 2010,&rdquo; reads the release. According to the company, 14 girls of remote districts of Karnali and other districts who have scored good grades among the female students in SLC examinations but have faced financial difficulties to continue their further education have received Ncell Girls Scholarships.</p>

<p>Apart from education, the company has contributed in many other sectors under its CSR initiative.</p>
',
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			'sortorder' => '5855',
			'image' => '20170620012041_ncell.jpg',
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		'Article' => array(
			'id' => '6070',
			'article_category_id' => '1',
			'title' => 'Shikhar Insurance Adds Three More Branches',
			'sub_title' => '',
			'summary' => 'Non-life insurance company Shikhar Insurance has started operation of three branches in far-western rural hilly areas.',
			'content' => '<p>June 20: Non-life insurance company Shikhar Insurance has started operation of three branches in far-western rural hilly areas. The company recently opened three outlets at Mugu, Dolpa and Kalikot districts.</p>

<p>With this, the company has now a total of 51 branches. The company also plans to operate a branch in Lukla of Solukhumbu district.&nbsp;</p>

<p>Among the non-life insurance companies, Shikhar is the only insurer which has been operating over 50 branches throughout the country.</p>

<div style="text-align: justify;">&nbsp;</div>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
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			'sortorder' => '5854',
			'image' => '20170620010717_Shikhara-insurance.jpeg',
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			'id' => '6068',
			'article_category_id' => '1',
			'title' => 'National Co-operative Bank Relocates Pokhara Branch ',
			'sub_title' => '',
			'summary' => 'The Pokhara branch of National Co-operative Bank, previously operating from Chipledhunga, has been relocated to New Road, Pokhara on June 18',
			'content' => '<p>June 20: &nbsp;The Pokhara branch of National Co-operative Bank, previously operating from Chipledhunga, has been relocated to New Road, Pokhara on June 18.</p>

<p>The New Road branch was inaugurated by K.B Upreti, Managing Director of the Bank. Though the bank had set up a representative office since 2006 in Pokhara, the branch was only established in 2009.</p>

<p style="text-align: justify;">The Pokhara branch has 325 cooperatives as shareholders, informed Kedar Nath Uprety, the Branch Manager. The bank has 38 branches throughout the country.</p>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5852',
			'image' => '20170620122310_cooperative bank.jpg',
			'article_date' => '2017-06-20 00:00:00',
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		'Article' => array(
			'id' => '6067',
			'article_category_id' => '1',
			'title' => 'Siddhartha Devt Bank's Branch at Arghakhanchi',
			'sub_title' => '',
			'summary' => 'Siddhartha Development Bank has opened a branch at Sandhikharka in Arghakhanchi district',
			'content' => '<p>June 20: Siddhartha Development Bank has opened a branch at Sandhikharka in Arghakhanchi district.</p>

<p>Dilli Raj Pokhrel, Chief District Officer of Arghakhanchi district inaugurated the branch on 18<sup>th</sup> June. He said that the bank should also focus on Corporate Social Responsibility.</p>

<p>The bank has also opened an ATM outlet with its branch at the same place. Customers can have access to all the modern banking facilities, said Ram Bahadur Bhandari, Chairman of the bank.</p>

<p>Ajay Kumar Mishra, CEO of the bank claimed that the branch will be instrumental in providing modern banking services to the rural people.&nbsp;</p>

<p style="text-align: justify;">It is the 38<sup>th</sup> branch of the bank. The bank being in last phase of acquisition of Janata Bank will have a total of 112 branches throughout the Nepal after acquisition.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5851',
			'image' => '20170620121822_siddhartha.jpg',
			'article_date' => '2017-06-20 00:00:00',
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			'id' => '6066',
			'article_category_id' => '1',
			'title' => 'MetLife Supports in Post-EQ Reconstruction',
			'sub_title' => '',
			'summary' => 'Executive officer of MetLife Inc, an American holding company, for Asia region has recently collaborated with Habitat for Humanity Nepal to help reconstruct the homes of communities of Panchkhal, Kavre affected by the devastating earthquake two years ago',
			'content' => '<p>June 18: Executive officer of MetLife Inc, an American holding company, for Asia region has recently collaborated with Habitat for Humanity Nepal to help reconstruct the homes of communities of Panchkhal, Kavre affected by the devastating earthquake two years ago.</p>

<p>The group under the supervision of Bon Cho, Senior Vice-President of Asia MetLife extended their support for the restoration.</p>

<p>Twenty-one executives of the company visiting Nepal for 3-days from Japan, South Korea, China, Australia, Hong Kong, Malaysia, India, Bangladesh and USA also volunteered in the programme.</p>

<p style="text-align: justify;">Last year, around hundred employees of MetLife Nepal volunteered in a similar programme conducted for helping communities in their household activities in the earthquake affected areas of Kavre district.</p>
',
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			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5850',
			'image' => '20170618062222_metlife.jpg',
			'article_date' => '2017-06-18 00:00:00',
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			'id' => '6065',
			'article_category_id' => '1',
			'title' => 'ATM Outlet of Garima at Mahendrapool',
			'sub_title' => '',
			'summary' => 'Garima Bikas Bank has opened an ATM outlet at Mahendrapool, Pokhara',
			'content' => '<p>June 18: Garima Bikas Bank has opened an ATM outlet at Mahendrapool, Pokhara.</p>

<p style="text-align: justify;">Chandra Kanta Baral, Director of the bank inaugurated the ATM amid a programme on June 17. It is the 10<sup>th</sup> ATM outlet of Garima Bikas Bank which is headquartered at Lazimpat, Kathmandu</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5849',
			'image' => '20170618062033_garima.jpg',
			'article_date' => '2017-06-18 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '6064',
			'article_category_id' => '1',
			'title' => 'NMB Opens Four New Branches At Once',
			'sub_title' => '',
			'summary' => 'NMB Bank has opened four branches at different parts of the country on June 15',
			'content' => '<p>June 18: NMB Bank has opened four branches at different parts of the country on June 15. The branches are situated at Beni of Myagdi, Nijgadh of Bara, Hetauda of Makwanpur and Kawasoti of Nawalparasi.</p>

<p>The branches were inaugurated by organising separate programs. &ldquo;The bank will be able to extend its services to more places by opening different branches in the country,&rdquo; said Sunil KC, CEO of NMB Bank.</p>

<p style="text-align: justify;">With the addition, the bank now has a total of 80 branches, 64 ATM outlets and five extension counters.&nbsp;</p>
',
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			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5848',
			'image' => '20170618061915_NMB.jpg',
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		'Article' => array(
			'id' => '6063',
			'article_category_id' => '1',
			'title' => 'Merger has Made Banks Stronger: Governor ',
			'sub_title' => '',
			'summary' => 'Governor of Nepal Rastra Bank (NRB) Chiranjivi Nepal has said that Nepali banks are getting stronger due to merger',
			'content' => '<p>June 18: Governor of Nepal Rastra Bank (NRB) Chiranjivi Nepal has said that Nepali banks are getting stronger due to merger.</p>

<p>He made such remarks at the merger ceremony between the Pokhara-based Om Development Bank headquartered in Pokhara and Gorkha-based Manaslu Bikas Bank held at Pokhara on June 16. He mentioned that the mergers of BFIs have made an important contribution to increase the paid-up capital of the banks.</p>

<p>&quot;Banks are meeting the capital requirement as specified by NRB through mergers. In the last two years of capital growth, some banks have already met the minimum paid-up capital requirement, while some are in process of achieving it,&quot; said Nepal.</p>

<p>&ldquo;The number of banks has been decreasing due to mergers. After mergers, the number of commercial banks has come down to 28 from 31. Similarly, there are now 30 development banks from 89 earlier. Likewise, the number of finance companies has come down to 20 from 79,&rdquo; he added.</p>

<p>NRB aims to make the banks stronger with the capital growth strategy and the banks have been successful in doing so, claimed the Governor.</p>

<p>He said that banks those were limited to small transactions in the past are now capable of making huge investments. Though the government has planned to open branches of banks throughout the country in the local levels, various reasons such as lack of security in remote areas is proving to be an obstacle, he added.</p>

<p>In the program, Man Bahadur GC, the newly elected Mayor of Pokhara Metropolitan City committed to turn Pokhara into a vibrant place for young entrepreneurs and also requested the banks to provide loans easily for the purpose.</p>

<p>Meanwhile, Ananda Raj Mulmi, former president of FNCCI said that banks needed to become more trustworthy by maintaining proper financial discipline.</p>

<p>Banks should be able to earn customer&rsquo;s confidence by proper management of the mergers as well as being considerate to the investors, said Bharat Raj Dhakal, President of the Development Bankers Association Nepal (DBAN).</p>

<p style="text-align: justify;">The merged entity has been named as Om Development Bank. The paid-up capital of the merged entity will reach to Rs 1.65 billion with deposit totaling to Rs 15.4 billion and extension of loans amounting to Rs 13.8 billion.&nbsp;</p>
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		'Article' => array(
			'id' => '6062',
			'article_category_id' => '1',
			'title' => 'NIBL’s Extension Counter Near Upper Karnali Project Site',
			'sub_title' => '',
			'summary' => 'Nepal Investment Bank Limited (NIBL) has opened an extension counter near the Upper Karnali Hydropower Project area in Daba of Dailekh district',
			'content' => '<p>June 16: Nepal Investment Bank Limited (NIBL) has opened an extension counter near the Upper Karnali Hydropower Project area in Daba of Dailekh district.</p>

<p>The bank is started operation of the extension counter from June 15 after GMR, the developer of the hydroelectric project, made preparations to distribute compensation related to land acquisition to the locals affected by the development of the project.</p>

<p>Krishna Raj Joshi, Branch Manager of the bank in Surkhet inaugurated the extension counter. According to the bank, customers will have access to all financial services in addition to loan facility from the counter. The extension counter was opened due to legal provision of distributing compensation to locals only through the bank account, informed Joshi.</p>

<p>Meanwhile, the bank has also opened two branches in far-western region on 15<sup>th</sup> June. The branches are located at Dipayal of Doti and Mangalsen of Achham.</p>

<p style="text-align: justify;">The bank said that the branches will make it easy to conduct financial transactions for the local residents. Currently, the bank is providing financial services from 49 branches, 2 extension counters, 83 ATM outlets and 57 branchless banking throughout the country.&nbsp;</p>
',
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			'created' => '2017-06-16',
			'modified' => '2017-06-16',
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			'description' => '',
			'sortorder' => '5846',
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			'article_date' => '2017-06-16 00:00:00',
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		'Article' => array(
			'id' => '6061',
			'article_category_id' => '1',
			'title' => 'Jyoti Bikas’s Supports Construction of Zebra Crossings ',
			'sub_title' => '',
			'summary' => 'Jyoti Bikas Bank has provided its support in constructing zebra crossings in Kathmandu',
			'content' => '<p>Jun 16: Jyoti Bikas Bank has provided its support in constructing zebra crossings in Kathmandu. The bank under its corporate social responsibility (CSR) assisted in the construction of zebra crossings near its head office at Kamaladi, Pragya Bhawan, Kamaladi Ganesh Temple and Bhadra Kali Temple in order to bring down road accidents and make it convenient to the pedestrians to cross the roads.</p>

<p style="text-align: justify;">&ldquo;The bank will continue such contributions in the future,&rdquo; said Krishna Bahadur Kunwar, CEO of Jyoti Bikas Bank. The Bank conducted the activity in coordinating with the Traffic Police Division at Ramshah Path.</p>
',
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			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5845',
			'image' => '20170616060728_jyoti.jpg',
			'article_date' => '2017-06-16 00:00:00',
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		'Article' => array(
			'id' => '6060',
			'article_category_id' => '1',
			'title' => 'No Progress in Construction of Kathmandu-Terai Fast Track Road ',
			'sub_title' => '',
			'summary' => 'The construction of the much awaited Kathmandu-Terai Fast Track Road has not moved ahead due to the absence of work procedures. Te government is yet to approve the work procedure for the implementation of the project',
			'content' => '<p>June 16: The construction of the much awaited Kathmandu-Terai Fast Track Road has not moved ahead due to the absence of work procedures. Te government is yet to approve the work procedure for the implementation of the project. &nbsp;</p>

<p>Dubbed as the Project of National Pride, the road is being viewed as the shortest highway connecting capital valley and the southern Terai region.</p>

<p>&nbsp;The Ministry of Defense (MoD) has already prepared the work procedure as per the request of the Ministry of Physical Infrastructure and Transport (MoPIT) on May 19. However, the non-approval of the work procedure which was already prepared by MoPIT two weeks ago has created obstacles to progress the project.</p>

<p>The Nepal Army has taken the responsibility to construct the project. The project which is being constructed with Nepali investment is expected to conclude within the next four years.</p>

<p>The then Prime Minister Pushpa Kamal Dahal formally inaugurated the construction work of the Fast Track Road on May 28. The project entered implementation phase nine years after its declaration.</p>

<p>According to a source at MoD, different working committees have been formed to move ahead the project. However, problem has been created as due rights have not been assigned to the committees.</p>

<p>The work procedure is being discussed by the Office of the Prime Minister and other bodies, a source said. Two committees have been formed for the mobilization of construction work, inspection and coordination.</p>

<p>A monitoring committee headed by high level army officer will submit a report of construction works to Prime Minister&#39;s Office and MoD every month.</p>

<p style="text-align: justify;">The government had allocated Rs 10 billion for the project in the current FY. According to the source at MoD, the remaining unspent amount not spent so far will be given to the Nepal Army. &nbsp;Satyendra Shakya, Chief of the Kathmandu-Terai Fast Track Project informed that Rs 7 billion has been released for the purpose till date. &nbsp;&nbsp;</p>
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			'sortorder' => '5844',
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		'Article' => array(
			'id' => '6059',
			'article_category_id' => '1',
			'title' => 'BFIs Risk Losing Good Debtors Due to High Base Rate',
			'sub_title' => '',
			'summary' => 'As the banks and financial institutions with high base rates charge higher interest rates on loans, they are likely to lose good debtors',
			'content' => '<p>June 16: As the banks and financial institutions with high base rates charge higher interest rates on loans, they are likely to lose good debtors.</p>

<p>The situation was created after the Nepal Rastra Bank (NRB) directed the BFIs to fix the interest rates of loans on the basis of base rate.</p>

<p>As per the directive, the BFIs cannot charge interest rates on loans less than the base rates. Due to this system, debtors paying back the loans on time are likely to be attracted towards low base rate BFIs. As a result, the profit of BFIs with higher base rate can be decreased and this will compel the financial institutions to go to merger.</p>

<p>Earlier, BFIs having high base rate were also providing loans on low interest rate and though NRB had made declaration for base rate, the interest of loans was not associated with it. The BFIs are required to publish their base rate on a monthly basis.</p>

<p>According to the third quarter financial reports published by the commercial banks, their present base rate is not less than six percent due to which the interest on loans will not be less than eight percent.</p>

<p>Similarly, some banks even have to charge interest rates more than 12 percent. As per the third quarter financial reports published by banks and financial institutions, base rate of BFIs ranges from 5.71 percent to 11.42 percent.</p>

<p>The statistics till April 13 of the current fiscal year shows that the base rate of Standard Chartered, Rastriya Banijya Bank, Nabil Bank and Nepal Bank is less than six percent. Likewise, the base rate of Himalayan Bank, Everest, Siddhartha, Prime and Bangladesh Bank stands around eight percent.</p>

<p style="text-align: justify;">Laxman Risal, CEO of NIC Asia Bank opines that the high base rate will be a distracting factor for big and good debtors. The base rate of NIC Asia which was 10 percent till April 13, has reached 10.50 percent by May 14.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</p>
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			'sortorder' => '5843',
			'image' => '20170616043859_base rate.jpg',
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			'id' => '6058',
			'article_category_id' => '1',
			'title' => 'Enterprise Calls Applications for Third Batch of NBAP',
			'sub_title' => '',
			'summary' => 'Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP)',
			'content' => '<p>June 15: Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP).</p>

<p style="text-align: justify;">The programme is designed for companies which have completed three years and are looking to fine-tune their business models, have innovative and dedicated team members to raise funds from investors, and move to the next level of business growth.</p>

<p>According to Ajay Shrestha, Program Director at Enterprise, a lot of small and medium size enterprises (SMEs) do not have access to technical and financial resources to grow.&nbsp; He shares that business accelerator can add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy. &ldquo;By doing so, Enterprise helps them develop their internal capacity and makes them more attractive to investors,&rdquo; he says.</p>

<p>Issuing a press statement Enterprise mentions that, it has successfully mentored companies including Foodmandu, Ingrails, Aiden Engineering, A.C.T 360, Funkey Delights and Vim Vox in the second batch</p>

<p>&quot;The last batch got an opportunity to work with some of the leading industry experts in the country to reassess their business models and pitched their businesses to a select group of banks, angel investors, venture capital funds, and private equity funds on the Demo-Day,&quot; reads the statement.</p>

<p>As per Enterprise, out of the six participating companies, three have already received investments. &ldquo;The size of the investment in these companies averages Rs 8 million,&rdquo; says the company. The other three have received term sheets from investors and are in the final stages of negotiation.</p>

<p>Enterprise Batch Three will incorporate 10 teams and is scheduled to begin on 1st August, 2017. The registration of applications closes on 30th June 2017.</p>

<p>Enterprise has been working on developing ecosystem for venture capital and private equity investment in Nepal. This programme, which is managed and funded by True North Associates, an investment, consulting, and management firm based in Nepal, was initiated by Nepalese Young Entrepreneurs&rsquo; Forum (NYEF) in partnership with Centre for Creation of Economic Wealth (CCEW) at the University of Oklahoma.&nbsp;</p>
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View::element() - CORE/Cake/View/View.php, line 418
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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
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		'Article' => array(
			'id' => '6073',
			'article_category_id' => '1',
			'title' => 'Citizen’s Bank Branch at Chame',
			'sub_title' => '',
			'summary' => 'The Citizens Bank International has opened its branch at Chame, Manang district. ',
			'content' => '<p>June 20: The Citizens Bank International has opened its branch at Chame, Manang district. Ganesh Raj Pokhrel, CEO of the bank inaugurated the branch amid a program on June 19.</p>

<p>The bank now has total of 59 branches, in which 24 branches are operating inside Kathmandu valley and 35 branches are outside Kathmandu valley. Currently, the bank has 58 ATM outlets.</p>

<p>CEO Pokhrel informed that, like the other branches, all the banking facilities- remittance, draft, visa card, visa international dollar card, different kind of deposits and loan facilities, will be provided from the Chame branch as well.</p>

<p style="text-align: justify;">Meanwhile, the bank has also provided financial support to the Lokpriya Secondary School of Chame under Corporate social Responsibility.</p>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
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			'sortorder' => '5857',
			'image' => '20170620042146_chame.jpg',
			'article_date' => '2017-06-20 00:00:00',
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			'id' => '6072',
			'article_category_id' => '1',
			'title' => 'Global IME’s Branch in Phidim',
			'sub_title' => '',
			'summary' => 'The Global IME Bank Ltd. has opened its branch at Phidim in Panchthar district. ',
			'content' => '<p>June 20: The Global IME Bank Ltd. has opened its branch at Phidim in Panchthar district. The bank transformed its previously located extension counter into a branch in Phidim recently.</p>

<p>&nbsp;The extension counter was transformed as a branch with an objective of aiding the economic activities of the district, informed the bank.</p>

<p style="text-align: justify;">With the addition, the bank now has total of 96 branches throughout the country. All the banking facilities will be provided from the Phidim branch like its other branches in the country.</p>
',
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			'sortorder' => '5856',
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			'id' => '6071',
			'article_category_id' => '1',
			'title' => 'Ncell Scholarships and Excellence Awards to IOE Students',
			'sub_title' => '',
			'summary' => 'Telecom services provider Ncell has honoured outstanding students of various faculties of the Central Campus Pulchowk, Institute of Engineering (IoE) with Ncell Scholarships and Excellence Awards. ',
			'content' => '<p>June 20: Telecom services provider Ncell has honoured outstanding students of various faculties of the Central Campus Pulchowk, Institute of Engineering (IoE) with Ncell Scholarships and Excellence Awards. Organizing a programme on June 19 in the capital, the company awarded 16 outstanding graduating students with each receiving Rs 100,000 as scholarship. The company awarded the students as a part of its initiative aimed at promoting young talents and contribution to the nation by nurturing skilled human resources.</p>

<p>Speaking at the programme, Milan Sharma, Corporate Communications Expert of Ncell said that education is the foundation for development and young talents are future leaders. He added that the company has undertaken various initiatives for contributing to education and promoting talent as a part of Ncell&rsquo;s corporate social responsibility (CSR) support. &ldquo;The support and recognition awarded to deserving students under Ncell Scholarship and Excellence Awards is acknowledgement of their hard and encouragement for academic excellence,&rdquo; he said.</p>

<p>&nbsp;The scholarships and excellence awards were handed over to students jointly by the Prof Dr Tri Ratna Bajracharya, Dean of IoE, Prof Dr Gokarna Bahadur Motra, Campus Chief, Ambar Thapa,&nbsp; Chief Legal Officer of Ncell and Pranay Raj Acharya, Company Secretary and Corporate Services Director of Ncell.</p>

<p>&ldquo;Ncell under its CSR initiative had instituted Ncell Scholarship and Excellence Awards at IoE for five years in 2014 to support technical education and contribute towards development of skilled human resources,&rdquo; said the company in a press statement. Ncell has been awarding Ncell Scholarships to students securing highest annual scores and Ncell Excellence Awards to students graduating with top scores in Bachelor of Engineering (BE) Electrical, Electronics and Communication and Computer faculties.</p>

<p>&ldquo;As a responsible corporate citizen, Ncell has attached high priority to the education sector and has been carrying out various programmes since 2010,&rdquo; reads the release. According to the company, 14 girls of remote districts of Karnali and other districts who have scored good grades among the female students in SLC examinations but have faced financial difficulties to continue their further education have received Ncell Girls Scholarships.</p>

<p>Apart from education, the company has contributed in many other sectors under its CSR initiative.</p>
',
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			'sortorder' => '5855',
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		'Article' => array(
			'id' => '6070',
			'article_category_id' => '1',
			'title' => 'Shikhar Insurance Adds Three More Branches',
			'sub_title' => '',
			'summary' => 'Non-life insurance company Shikhar Insurance has started operation of three branches in far-western rural hilly areas.',
			'content' => '<p>June 20: Non-life insurance company Shikhar Insurance has started operation of three branches in far-western rural hilly areas. The company recently opened three outlets at Mugu, Dolpa and Kalikot districts.</p>

<p>With this, the company has now a total of 51 branches. The company also plans to operate a branch in Lukla of Solukhumbu district.&nbsp;</p>

<p>Among the non-life insurance companies, Shikhar is the only insurer which has been operating over 50 branches throughout the country.</p>

<div style="text-align: justify;">&nbsp;</div>
',
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			'sortorder' => '5854',
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			'id' => '6068',
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			'title' => 'National Co-operative Bank Relocates Pokhara Branch ',
			'sub_title' => '',
			'summary' => 'The Pokhara branch of National Co-operative Bank, previously operating from Chipledhunga, has been relocated to New Road, Pokhara on June 18',
			'content' => '<p>June 20: &nbsp;The Pokhara branch of National Co-operative Bank, previously operating from Chipledhunga, has been relocated to New Road, Pokhara on June 18.</p>

<p>The New Road branch was inaugurated by K.B Upreti, Managing Director of the Bank. Though the bank had set up a representative office since 2006 in Pokhara, the branch was only established in 2009.</p>

<p style="text-align: justify;">The Pokhara branch has 325 cooperatives as shareholders, informed Kedar Nath Uprety, the Branch Manager. The bank has 38 branches throughout the country.</p>
',
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			'sortorder' => '5852',
			'image' => '20170620122310_cooperative bank.jpg',
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		'Article' => array(
			'id' => '6067',
			'article_category_id' => '1',
			'title' => 'Siddhartha Devt Bank's Branch at Arghakhanchi',
			'sub_title' => '',
			'summary' => 'Siddhartha Development Bank has opened a branch at Sandhikharka in Arghakhanchi district',
			'content' => '<p>June 20: Siddhartha Development Bank has opened a branch at Sandhikharka in Arghakhanchi district.</p>

<p>Dilli Raj Pokhrel, Chief District Officer of Arghakhanchi district inaugurated the branch on 18<sup>th</sup> June. He said that the bank should also focus on Corporate Social Responsibility.</p>

<p>The bank has also opened an ATM outlet with its branch at the same place. Customers can have access to all the modern banking facilities, said Ram Bahadur Bhandari, Chairman of the bank.</p>

<p>Ajay Kumar Mishra, CEO of the bank claimed that the branch will be instrumental in providing modern banking services to the rural people.&nbsp;</p>

<p style="text-align: justify;">It is the 38<sup>th</sup> branch of the bank. The bank being in last phase of acquisition of Janata Bank will have a total of 112 branches throughout the Nepal after acquisition.&nbsp;</p>
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			'sortorder' => '5851',
			'image' => '20170620121822_siddhartha.jpg',
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			'id' => '6066',
			'article_category_id' => '1',
			'title' => 'MetLife Supports in Post-EQ Reconstruction',
			'sub_title' => '',
			'summary' => 'Executive officer of MetLife Inc, an American holding company, for Asia region has recently collaborated with Habitat for Humanity Nepal to help reconstruct the homes of communities of Panchkhal, Kavre affected by the devastating earthquake two years ago',
			'content' => '<p>June 18: Executive officer of MetLife Inc, an American holding company, for Asia region has recently collaborated with Habitat for Humanity Nepal to help reconstruct the homes of communities of Panchkhal, Kavre affected by the devastating earthquake two years ago.</p>

<p>The group under the supervision of Bon Cho, Senior Vice-President of Asia MetLife extended their support for the restoration.</p>

<p>Twenty-one executives of the company visiting Nepal for 3-days from Japan, South Korea, China, Australia, Hong Kong, Malaysia, India, Bangladesh and USA also volunteered in the programme.</p>

<p style="text-align: justify;">Last year, around hundred employees of MetLife Nepal volunteered in a similar programme conducted for helping communities in their household activities in the earthquake affected areas of Kavre district.</p>
',
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			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5850',
			'image' => '20170618062222_metlife.jpg',
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6065',
			'article_category_id' => '1',
			'title' => 'ATM Outlet of Garima at Mahendrapool',
			'sub_title' => '',
			'summary' => 'Garima Bikas Bank has opened an ATM outlet at Mahendrapool, Pokhara',
			'content' => '<p>June 18: Garima Bikas Bank has opened an ATM outlet at Mahendrapool, Pokhara.</p>

<p style="text-align: justify;">Chandra Kanta Baral, Director of the bank inaugurated the ATM amid a programme on June 17. It is the 10<sup>th</sup> ATM outlet of Garima Bikas Bank which is headquartered at Lazimpat, Kathmandu</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5849',
			'image' => '20170618062033_garima.jpg',
			'article_date' => '2017-06-18 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' => '6064',
			'article_category_id' => '1',
			'title' => 'NMB Opens Four New Branches At Once',
			'sub_title' => '',
			'summary' => 'NMB Bank has opened four branches at different parts of the country on June 15',
			'content' => '<p>June 18: NMB Bank has opened four branches at different parts of the country on June 15. The branches are situated at Beni of Myagdi, Nijgadh of Bara, Hetauda of Makwanpur and Kawasoti of Nawalparasi.</p>

<p>The branches were inaugurated by organising separate programs. &ldquo;The bank will be able to extend its services to more places by opening different branches in the country,&rdquo; said Sunil KC, CEO of NMB Bank.</p>

<p style="text-align: justify;">With the addition, the bank now has a total of 80 branches, 64 ATM outlets and five extension counters.&nbsp;</p>
',
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			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5848',
			'image' => '20170618061915_NMB.jpg',
			'article_date' => '2017-06-18 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '6063',
			'article_category_id' => '1',
			'title' => 'Merger has Made Banks Stronger: Governor ',
			'sub_title' => '',
			'summary' => 'Governor of Nepal Rastra Bank (NRB) Chiranjivi Nepal has said that Nepali banks are getting stronger due to merger',
			'content' => '<p>June 18: Governor of Nepal Rastra Bank (NRB) Chiranjivi Nepal has said that Nepali banks are getting stronger due to merger.</p>

<p>He made such remarks at the merger ceremony between the Pokhara-based Om Development Bank headquartered in Pokhara and Gorkha-based Manaslu Bikas Bank held at Pokhara on June 16. He mentioned that the mergers of BFIs have made an important contribution to increase the paid-up capital of the banks.</p>

<p>&quot;Banks are meeting the capital requirement as specified by NRB through mergers. In the last two years of capital growth, some banks have already met the minimum paid-up capital requirement, while some are in process of achieving it,&quot; said Nepal.</p>

<p>&ldquo;The number of banks has been decreasing due to mergers. After mergers, the number of commercial banks has come down to 28 from 31. Similarly, there are now 30 development banks from 89 earlier. Likewise, the number of finance companies has come down to 20 from 79,&rdquo; he added.</p>

<p>NRB aims to make the banks stronger with the capital growth strategy and the banks have been successful in doing so, claimed the Governor.</p>

<p>He said that banks those were limited to small transactions in the past are now capable of making huge investments. Though the government has planned to open branches of banks throughout the country in the local levels, various reasons such as lack of security in remote areas is proving to be an obstacle, he added.</p>

<p>In the program, Man Bahadur GC, the newly elected Mayor of Pokhara Metropolitan City committed to turn Pokhara into a vibrant place for young entrepreneurs and also requested the banks to provide loans easily for the purpose.</p>

<p>Meanwhile, Ananda Raj Mulmi, former president of FNCCI said that banks needed to become more trustworthy by maintaining proper financial discipline.</p>

<p>Banks should be able to earn customer&rsquo;s confidence by proper management of the mergers as well as being considerate to the investors, said Bharat Raj Dhakal, President of the Development Bankers Association Nepal (DBAN).</p>

<p style="text-align: justify;">The merged entity has been named as Om Development Bank. The paid-up capital of the merged entity will reach to Rs 1.65 billion with deposit totaling to Rs 15.4 billion and extension of loans amounting to Rs 13.8 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5847',
			'image' => '20170618061818_merger.jpg',
			'article_date' => '2017-06-18 00:00:00',
			'homepage' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '6062',
			'article_category_id' => '1',
			'title' => 'NIBL’s Extension Counter Near Upper Karnali Project Site',
			'sub_title' => '',
			'summary' => 'Nepal Investment Bank Limited (NIBL) has opened an extension counter near the Upper Karnali Hydropower Project area in Daba of Dailekh district',
			'content' => '<p>June 16: Nepal Investment Bank Limited (NIBL) has opened an extension counter near the Upper Karnali Hydropower Project area in Daba of Dailekh district.</p>

<p>The bank is started operation of the extension counter from June 15 after GMR, the developer of the hydroelectric project, made preparations to distribute compensation related to land acquisition to the locals affected by the development of the project.</p>

<p>Krishna Raj Joshi, Branch Manager of the bank in Surkhet inaugurated the extension counter. According to the bank, customers will have access to all financial services in addition to loan facility from the counter. The extension counter was opened due to legal provision of distributing compensation to locals only through the bank account, informed Joshi.</p>

<p>Meanwhile, the bank has also opened two branches in far-western region on 15<sup>th</sup> June. The branches are located at Dipayal of Doti and Mangalsen of Achham.</p>

<p style="text-align: justify;">The bank said that the branches will make it easy to conduct financial transactions for the local residents. Currently, the bank is providing financial services from 49 branches, 2 extension counters, 83 ATM outlets and 57 branchless banking throughout the country.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5846',
			'image' => null,
			'article_date' => '2017-06-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6061',
			'article_category_id' => '1',
			'title' => 'Jyoti Bikas’s Supports Construction of Zebra Crossings ',
			'sub_title' => '',
			'summary' => 'Jyoti Bikas Bank has provided its support in constructing zebra crossings in Kathmandu',
			'content' => '<p>Jun 16: Jyoti Bikas Bank has provided its support in constructing zebra crossings in Kathmandu. The bank under its corporate social responsibility (CSR) assisted in the construction of zebra crossings near its head office at Kamaladi, Pragya Bhawan, Kamaladi Ganesh Temple and Bhadra Kali Temple in order to bring down road accidents and make it convenient to the pedestrians to cross the roads.</p>

<p style="text-align: justify;">&ldquo;The bank will continue such contributions in the future,&rdquo; said Krishna Bahadur Kunwar, CEO of Jyoti Bikas Bank. The Bank conducted the activity in coordinating with the Traffic Police Division at Ramshah Path.</p>
',
			'published' => true,
			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5845',
			'image' => '20170616060728_jyoti.jpg',
			'article_date' => '2017-06-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 12 => array(
		'Article' => array(
			'id' => '6060',
			'article_category_id' => '1',
			'title' => 'No Progress in Construction of Kathmandu-Terai Fast Track Road ',
			'sub_title' => '',
			'summary' => 'The construction of the much awaited Kathmandu-Terai Fast Track Road has not moved ahead due to the absence of work procedures. Te government is yet to approve the work procedure for the implementation of the project',
			'content' => '<p>June 16: The construction of the much awaited Kathmandu-Terai Fast Track Road has not moved ahead due to the absence of work procedures. Te government is yet to approve the work procedure for the implementation of the project. &nbsp;</p>

<p>Dubbed as the Project of National Pride, the road is being viewed as the shortest highway connecting capital valley and the southern Terai region.</p>

<p>&nbsp;The Ministry of Defense (MoD) has already prepared the work procedure as per the request of the Ministry of Physical Infrastructure and Transport (MoPIT) on May 19. However, the non-approval of the work procedure which was already prepared by MoPIT two weeks ago has created obstacles to progress the project.</p>

<p>The Nepal Army has taken the responsibility to construct the project. The project which is being constructed with Nepali investment is expected to conclude within the next four years.</p>

<p>The then Prime Minister Pushpa Kamal Dahal formally inaugurated the construction work of the Fast Track Road on May 28. The project entered implementation phase nine years after its declaration.</p>

<p>According to a source at MoD, different working committees have been formed to move ahead the project. However, problem has been created as due rights have not been assigned to the committees.</p>

<p>The work procedure is being discussed by the Office of the Prime Minister and other bodies, a source said. Two committees have been formed for the mobilization of construction work, inspection and coordination.</p>

<p>A monitoring committee headed by high level army officer will submit a report of construction works to Prime Minister&#39;s Office and MoD every month.</p>

<p style="text-align: justify;">The government had allocated Rs 10 billion for the project in the current FY. According to the source at MoD, the remaining unspent amount not spent so far will be given to the Nepal Army. &nbsp;Satyendra Shakya, Chief of the Kathmandu-Terai Fast Track Project informed that Rs 7 billion has been released for the purpose till date. &nbsp;&nbsp;</p>
',
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			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5844',
			'image' => '20170616052456_fast track nov 21.jpg',
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	(int) 13 => array(
		'Article' => array(
			'id' => '6059',
			'article_category_id' => '1',
			'title' => 'BFIs Risk Losing Good Debtors Due to High Base Rate',
			'sub_title' => '',
			'summary' => 'As the banks and financial institutions with high base rates charge higher interest rates on loans, they are likely to lose good debtors',
			'content' => '<p>June 16: As the banks and financial institutions with high base rates charge higher interest rates on loans, they are likely to lose good debtors.</p>

<p>The situation was created after the Nepal Rastra Bank (NRB) directed the BFIs to fix the interest rates of loans on the basis of base rate.</p>

<p>As per the directive, the BFIs cannot charge interest rates on loans less than the base rates. Due to this system, debtors paying back the loans on time are likely to be attracted towards low base rate BFIs. As a result, the profit of BFIs with higher base rate can be decreased and this will compel the financial institutions to go to merger.</p>

<p>Earlier, BFIs having high base rate were also providing loans on low interest rate and though NRB had made declaration for base rate, the interest of loans was not associated with it. The BFIs are required to publish their base rate on a monthly basis.</p>

<p>According to the third quarter financial reports published by the commercial banks, their present base rate is not less than six percent due to which the interest on loans will not be less than eight percent.</p>

<p>Similarly, some banks even have to charge interest rates more than 12 percent. As per the third quarter financial reports published by banks and financial institutions, base rate of BFIs ranges from 5.71 percent to 11.42 percent.</p>

<p>The statistics till April 13 of the current fiscal year shows that the base rate of Standard Chartered, Rastriya Banijya Bank, Nabil Bank and Nepal Bank is less than six percent. Likewise, the base rate of Himalayan Bank, Everest, Siddhartha, Prime and Bangladesh Bank stands around eight percent.</p>

<p style="text-align: justify;">Laxman Risal, CEO of NIC Asia Bank opines that the high base rate will be a distracting factor for big and good debtors. The base rate of NIC Asia which was 10 percent till April 13, has reached 10.50 percent by May 14.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</p>
',
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			'created' => '2017-06-16',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '5843',
			'image' => '20170616043859_base rate.jpg',
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		'Article' => array(
			'id' => '6058',
			'article_category_id' => '1',
			'title' => 'Enterprise Calls Applications for Third Batch of NBAP',
			'sub_title' => '',
			'summary' => 'Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP)',
			'content' => '<p>June 15: Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP).</p>

<p style="text-align: justify;">The programme is designed for companies which have completed three years and are looking to fine-tune their business models, have innovative and dedicated team members to raise funds from investors, and move to the next level of business growth.</p>

<p>According to Ajay Shrestha, Program Director at Enterprise, a lot of small and medium size enterprises (SMEs) do not have access to technical and financial resources to grow.&nbsp; He shares that business accelerator can add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy. &ldquo;By doing so, Enterprise helps them develop their internal capacity and makes them more attractive to investors,&rdquo; he says.</p>

<p>Issuing a press statement Enterprise mentions that, it has successfully mentored companies including Foodmandu, Ingrails, Aiden Engineering, A.C.T 360, Funkey Delights and Vim Vox in the second batch</p>

<p>&quot;The last batch got an opportunity to work with some of the leading industry experts in the country to reassess their business models and pitched their businesses to a select group of banks, angel investors, venture capital funds, and private equity funds on the Demo-Day,&quot; reads the statement.</p>

<p>As per Enterprise, out of the six participating companies, three have already received investments. &ldquo;The size of the investment in these companies averages Rs 8 million,&rdquo; says the company. The other three have received term sheets from investors and are in the final stages of negotiation.</p>

<p>Enterprise Batch Three will incorporate 10 teams and is scheduled to begin on 1st August, 2017. The registration of applications closes on 30th June 2017.</p>

<p>Enterprise has been working on developing ecosystem for venture capital and private equity investment in Nepal. This programme, which is managed and funded by True North Associates, an investment, consulting, and management firm based in Nepal, was initiated by Nepalese Young Entrepreneurs&rsquo; Forum (NYEF) in partnership with Centre for Creation of Economic Wealth (CCEW) at the University of Oklahoma.&nbsp;</p>
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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include - APP/View/Articles/index.ctp, line 157
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View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
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Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
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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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		'Article' => array(
			'id' => '6073',
			'article_category_id' => '1',
			'title' => 'Citizen’s Bank Branch at Chame',
			'sub_title' => '',
			'summary' => 'The Citizens Bank International has opened its branch at Chame, Manang district. ',
			'content' => '<p>June 20: The Citizens Bank International has opened its branch at Chame, Manang district. Ganesh Raj Pokhrel, CEO of the bank inaugurated the branch amid a program on June 19.</p>

<p>The bank now has total of 59 branches, in which 24 branches are operating inside Kathmandu valley and 35 branches are outside Kathmandu valley. Currently, the bank has 58 ATM outlets.</p>

<p>CEO Pokhrel informed that, like the other branches, all the banking facilities- remittance, draft, visa card, visa international dollar card, different kind of deposits and loan facilities, will be provided from the Chame branch as well.</p>

<p style="text-align: justify;">Meanwhile, the bank has also provided financial support to the Lokpriya Secondary School of Chame under Corporate social Responsibility.</p>
',
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			'created' => '2017-06-20',
			'modified' => '2017-06-20',
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			'sortorder' => '5857',
			'image' => '20170620042146_chame.jpg',
			'article_date' => '2017-06-20 00:00:00',
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		'Article' => array(
			'id' => '6072',
			'article_category_id' => '1',
			'title' => 'Global IME’s Branch in Phidim',
			'sub_title' => '',
			'summary' => 'The Global IME Bank Ltd. has opened its branch at Phidim in Panchthar district. ',
			'content' => '<p>June 20: The Global IME Bank Ltd. has opened its branch at Phidim in Panchthar district. The bank transformed its previously located extension counter into a branch in Phidim recently.</p>

<p>&nbsp;The extension counter was transformed as a branch with an objective of aiding the economic activities of the district, informed the bank.</p>

<p style="text-align: justify;">With the addition, the bank now has total of 96 branches throughout the country. All the banking facilities will be provided from the Phidim branch like its other branches in the country.</p>
',
			'published' => true,
			'created' => '2017-06-20',
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			'sortorder' => '5856',
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		'Article' => array(
			'id' => '6071',
			'article_category_id' => '1',
			'title' => 'Ncell Scholarships and Excellence Awards to IOE Students',
			'sub_title' => '',
			'summary' => 'Telecom services provider Ncell has honoured outstanding students of various faculties of the Central Campus Pulchowk, Institute of Engineering (IoE) with Ncell Scholarships and Excellence Awards. ',
			'content' => '<p>June 20: Telecom services provider Ncell has honoured outstanding students of various faculties of the Central Campus Pulchowk, Institute of Engineering (IoE) with Ncell Scholarships and Excellence Awards. Organizing a programme on June 19 in the capital, the company awarded 16 outstanding graduating students with each receiving Rs 100,000 as scholarship. The company awarded the students as a part of its initiative aimed at promoting young talents and contribution to the nation by nurturing skilled human resources.</p>

<p>Speaking at the programme, Milan Sharma, Corporate Communications Expert of Ncell said that education is the foundation for development and young talents are future leaders. He added that the company has undertaken various initiatives for contributing to education and promoting talent as a part of Ncell&rsquo;s corporate social responsibility (CSR) support. &ldquo;The support and recognition awarded to deserving students under Ncell Scholarship and Excellence Awards is acknowledgement of their hard and encouragement for academic excellence,&rdquo; he said.</p>

<p>&nbsp;The scholarships and excellence awards were handed over to students jointly by the Prof Dr Tri Ratna Bajracharya, Dean of IoE, Prof Dr Gokarna Bahadur Motra, Campus Chief, Ambar Thapa,&nbsp; Chief Legal Officer of Ncell and Pranay Raj Acharya, Company Secretary and Corporate Services Director of Ncell.</p>

<p>&ldquo;Ncell under its CSR initiative had instituted Ncell Scholarship and Excellence Awards at IoE for five years in 2014 to support technical education and contribute towards development of skilled human resources,&rdquo; said the company in a press statement. Ncell has been awarding Ncell Scholarships to students securing highest annual scores and Ncell Excellence Awards to students graduating with top scores in Bachelor of Engineering (BE) Electrical, Electronics and Communication and Computer faculties.</p>

<p>&ldquo;As a responsible corporate citizen, Ncell has attached high priority to the education sector and has been carrying out various programmes since 2010,&rdquo; reads the release. According to the company, 14 girls of remote districts of Karnali and other districts who have scored good grades among the female students in SLC examinations but have faced financial difficulties to continue their further education have received Ncell Girls Scholarships.</p>

<p>Apart from education, the company has contributed in many other sectors under its CSR initiative.</p>
',
			'published' => true,
			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5855',
			'image' => '20170620012041_ncell.jpg',
			'article_date' => '2017-06-20 00:00:00',
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	(int) 3 => array(
		'Article' => array(
			'id' => '6070',
			'article_category_id' => '1',
			'title' => 'Shikhar Insurance Adds Three More Branches',
			'sub_title' => '',
			'summary' => 'Non-life insurance company Shikhar Insurance has started operation of three branches in far-western rural hilly areas.',
			'content' => '<p>June 20: Non-life insurance company Shikhar Insurance has started operation of three branches in far-western rural hilly areas. The company recently opened three outlets at Mugu, Dolpa and Kalikot districts.</p>

<p>With this, the company has now a total of 51 branches. The company also plans to operate a branch in Lukla of Solukhumbu district.&nbsp;</p>

<p>Among the non-life insurance companies, Shikhar is the only insurer which has been operating over 50 branches throughout the country.</p>

<div style="text-align: justify;">&nbsp;</div>
',
			'published' => true,
			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5854',
			'image' => '20170620010717_Shikhara-insurance.jpeg',
			'article_date' => '2017-06-20 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 4 => array(
		'Article' => array(
			'id' => '6068',
			'article_category_id' => '1',
			'title' => 'National Co-operative Bank Relocates Pokhara Branch ',
			'sub_title' => '',
			'summary' => 'The Pokhara branch of National Co-operative Bank, previously operating from Chipledhunga, has been relocated to New Road, Pokhara on June 18',
			'content' => '<p>June 20: &nbsp;The Pokhara branch of National Co-operative Bank, previously operating from Chipledhunga, has been relocated to New Road, Pokhara on June 18.</p>

<p>The New Road branch was inaugurated by K.B Upreti, Managing Director of the Bank. Though the bank had set up a representative office since 2006 in Pokhara, the branch was only established in 2009.</p>

<p style="text-align: justify;">The Pokhara branch has 325 cooperatives as shareholders, informed Kedar Nath Uprety, the Branch Manager. The bank has 38 branches throughout the country.</p>
',
			'published' => true,
			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5852',
			'image' => '20170620122310_cooperative bank.jpg',
			'article_date' => '2017-06-20 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 5 => array(
		'Article' => array(
			'id' => '6067',
			'article_category_id' => '1',
			'title' => 'Siddhartha Devt Bank's Branch at Arghakhanchi',
			'sub_title' => '',
			'summary' => 'Siddhartha Development Bank has opened a branch at Sandhikharka in Arghakhanchi district',
			'content' => '<p>June 20: Siddhartha Development Bank has opened a branch at Sandhikharka in Arghakhanchi district.</p>

<p>Dilli Raj Pokhrel, Chief District Officer of Arghakhanchi district inaugurated the branch on 18<sup>th</sup> June. He said that the bank should also focus on Corporate Social Responsibility.</p>

<p>The bank has also opened an ATM outlet with its branch at the same place. Customers can have access to all the modern banking facilities, said Ram Bahadur Bhandari, Chairman of the bank.</p>

<p>Ajay Kumar Mishra, CEO of the bank claimed that the branch will be instrumental in providing modern banking services to the rural people.&nbsp;</p>

<p style="text-align: justify;">It is the 38<sup>th</sup> branch of the bank. The bank being in last phase of acquisition of Janata Bank will have a total of 112 branches throughout the Nepal after acquisition.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-20',
			'modified' => '2017-06-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5851',
			'image' => '20170620121822_siddhartha.jpg',
			'article_date' => '2017-06-20 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '6066',
			'article_category_id' => '1',
			'title' => 'MetLife Supports in Post-EQ Reconstruction',
			'sub_title' => '',
			'summary' => 'Executive officer of MetLife Inc, an American holding company, for Asia region has recently collaborated with Habitat for Humanity Nepal to help reconstruct the homes of communities of Panchkhal, Kavre affected by the devastating earthquake two years ago',
			'content' => '<p>June 18: Executive officer of MetLife Inc, an American holding company, for Asia region has recently collaborated with Habitat for Humanity Nepal to help reconstruct the homes of communities of Panchkhal, Kavre affected by the devastating earthquake two years ago.</p>

<p>The group under the supervision of Bon Cho, Senior Vice-President of Asia MetLife extended their support for the restoration.</p>

<p>Twenty-one executives of the company visiting Nepal for 3-days from Japan, South Korea, China, Australia, Hong Kong, Malaysia, India, Bangladesh and USA also volunteered in the programme.</p>

<p style="text-align: justify;">Last year, around hundred employees of MetLife Nepal volunteered in a similar programme conducted for helping communities in their household activities in the earthquake affected areas of Kavre district.</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5850',
			'image' => '20170618062222_metlife.jpg',
			'article_date' => '2017-06-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '6065',
			'article_category_id' => '1',
			'title' => 'ATM Outlet of Garima at Mahendrapool',
			'sub_title' => '',
			'summary' => 'Garima Bikas Bank has opened an ATM outlet at Mahendrapool, Pokhara',
			'content' => '<p>June 18: Garima Bikas Bank has opened an ATM outlet at Mahendrapool, Pokhara.</p>

<p style="text-align: justify;">Chandra Kanta Baral, Director of the bank inaugurated the ATM amid a programme on June 17. It is the 10<sup>th</sup> ATM outlet of Garima Bikas Bank which is headquartered at Lazimpat, Kathmandu</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5849',
			'image' => '20170618062033_garima.jpg',
			'article_date' => '2017-06-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '6064',
			'article_category_id' => '1',
			'title' => 'NMB Opens Four New Branches At Once',
			'sub_title' => '',
			'summary' => 'NMB Bank has opened four branches at different parts of the country on June 15',
			'content' => '<p>June 18: NMB Bank has opened four branches at different parts of the country on June 15. The branches are situated at Beni of Myagdi, Nijgadh of Bara, Hetauda of Makwanpur and Kawasoti of Nawalparasi.</p>

<p>The branches were inaugurated by organising separate programs. &ldquo;The bank will be able to extend its services to more places by opening different branches in the country,&rdquo; said Sunil KC, CEO of NMB Bank.</p>

<p style="text-align: justify;">With the addition, the bank now has a total of 80 branches, 64 ATM outlets and five extension counters.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5848',
			'image' => '20170618061915_NMB.jpg',
			'article_date' => '2017-06-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 9 => array(
		'Article' => array(
			'id' => '6063',
			'article_category_id' => '1',
			'title' => 'Merger has Made Banks Stronger: Governor ',
			'sub_title' => '',
			'summary' => 'Governor of Nepal Rastra Bank (NRB) Chiranjivi Nepal has said that Nepali banks are getting stronger due to merger',
			'content' => '<p>June 18: Governor of Nepal Rastra Bank (NRB) Chiranjivi Nepal has said that Nepali banks are getting stronger due to merger.</p>

<p>He made such remarks at the merger ceremony between the Pokhara-based Om Development Bank headquartered in Pokhara and Gorkha-based Manaslu Bikas Bank held at Pokhara on June 16. He mentioned that the mergers of BFIs have made an important contribution to increase the paid-up capital of the banks.</p>

<p>&quot;Banks are meeting the capital requirement as specified by NRB through mergers. In the last two years of capital growth, some banks have already met the minimum paid-up capital requirement, while some are in process of achieving it,&quot; said Nepal.</p>

<p>&ldquo;The number of banks has been decreasing due to mergers. After mergers, the number of commercial banks has come down to 28 from 31. Similarly, there are now 30 development banks from 89 earlier. Likewise, the number of finance companies has come down to 20 from 79,&rdquo; he added.</p>

<p>NRB aims to make the banks stronger with the capital growth strategy and the banks have been successful in doing so, claimed the Governor.</p>

<p>He said that banks those were limited to small transactions in the past are now capable of making huge investments. Though the government has planned to open branches of banks throughout the country in the local levels, various reasons such as lack of security in remote areas is proving to be an obstacle, he added.</p>

<p>In the program, Man Bahadur GC, the newly elected Mayor of Pokhara Metropolitan City committed to turn Pokhara into a vibrant place for young entrepreneurs and also requested the banks to provide loans easily for the purpose.</p>

<p>Meanwhile, Ananda Raj Mulmi, former president of FNCCI said that banks needed to become more trustworthy by maintaining proper financial discipline.</p>

<p>Banks should be able to earn customer&rsquo;s confidence by proper management of the mergers as well as being considerate to the investors, said Bharat Raj Dhakal, President of the Development Bankers Association Nepal (DBAN).</p>

<p style="text-align: justify;">The merged entity has been named as Om Development Bank. The paid-up capital of the merged entity will reach to Rs 1.65 billion with deposit totaling to Rs 15.4 billion and extension of loans amounting to Rs 13.8 billion.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-18',
			'modified' => '2017-06-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5847',
			'image' => '20170618061818_merger.jpg',
			'article_date' => '2017-06-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '6062',
			'article_category_id' => '1',
			'title' => 'NIBL’s Extension Counter Near Upper Karnali Project Site',
			'sub_title' => '',
			'summary' => 'Nepal Investment Bank Limited (NIBL) has opened an extension counter near the Upper Karnali Hydropower Project area in Daba of Dailekh district',
			'content' => '<p>June 16: Nepal Investment Bank Limited (NIBL) has opened an extension counter near the Upper Karnali Hydropower Project area in Daba of Dailekh district.</p>

<p>The bank is started operation of the extension counter from June 15 after GMR, the developer of the hydroelectric project, made preparations to distribute compensation related to land acquisition to the locals affected by the development of the project.</p>

<p>Krishna Raj Joshi, Branch Manager of the bank in Surkhet inaugurated the extension counter. According to the bank, customers will have access to all financial services in addition to loan facility from the counter. The extension counter was opened due to legal provision of distributing compensation to locals only through the bank account, informed Joshi.</p>

<p>Meanwhile, the bank has also opened two branches in far-western region on 15<sup>th</sup> June. The branches are located at Dipayal of Doti and Mangalsen of Achham.</p>

<p style="text-align: justify;">The bank said that the branches will make it easy to conduct financial transactions for the local residents. Currently, the bank is providing financial services from 49 branches, 2 extension counters, 83 ATM outlets and 57 branchless banking throughout the country.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5846',
			'image' => null,
			'article_date' => '2017-06-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '6061',
			'article_category_id' => '1',
			'title' => 'Jyoti Bikas’s Supports Construction of Zebra Crossings ',
			'sub_title' => '',
			'summary' => 'Jyoti Bikas Bank has provided its support in constructing zebra crossings in Kathmandu',
			'content' => '<p>Jun 16: Jyoti Bikas Bank has provided its support in constructing zebra crossings in Kathmandu. The bank under its corporate social responsibility (CSR) assisted in the construction of zebra crossings near its head office at Kamaladi, Pragya Bhawan, Kamaladi Ganesh Temple and Bhadra Kali Temple in order to bring down road accidents and make it convenient to the pedestrians to cross the roads.</p>

<p style="text-align: justify;">&ldquo;The bank will continue such contributions in the future,&rdquo; said Krishna Bahadur Kunwar, CEO of Jyoti Bikas Bank. The Bank conducted the activity in coordinating with the Traffic Police Division at Ramshah Path.</p>
',
			'published' => true,
			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5845',
			'image' => '20170616060728_jyoti.jpg',
			'article_date' => '2017-06-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '6060',
			'article_category_id' => '1',
			'title' => 'No Progress in Construction of Kathmandu-Terai Fast Track Road ',
			'sub_title' => '',
			'summary' => 'The construction of the much awaited Kathmandu-Terai Fast Track Road has not moved ahead due to the absence of work procedures. Te government is yet to approve the work procedure for the implementation of the project',
			'content' => '<p>June 16: The construction of the much awaited Kathmandu-Terai Fast Track Road has not moved ahead due to the absence of work procedures. Te government is yet to approve the work procedure for the implementation of the project. &nbsp;</p>

<p>Dubbed as the Project of National Pride, the road is being viewed as the shortest highway connecting capital valley and the southern Terai region.</p>

<p>&nbsp;The Ministry of Defense (MoD) has already prepared the work procedure as per the request of the Ministry of Physical Infrastructure and Transport (MoPIT) on May 19. However, the non-approval of the work procedure which was already prepared by MoPIT two weeks ago has created obstacles to progress the project.</p>

<p>The Nepal Army has taken the responsibility to construct the project. The project which is being constructed with Nepali investment is expected to conclude within the next four years.</p>

<p>The then Prime Minister Pushpa Kamal Dahal formally inaugurated the construction work of the Fast Track Road on May 28. The project entered implementation phase nine years after its declaration.</p>

<p>According to a source at MoD, different working committees have been formed to move ahead the project. However, problem has been created as due rights have not been assigned to the committees.</p>

<p>The work procedure is being discussed by the Office of the Prime Minister and other bodies, a source said. Two committees have been formed for the mobilization of construction work, inspection and coordination.</p>

<p>A monitoring committee headed by high level army officer will submit a report of construction works to Prime Minister&#39;s Office and MoD every month.</p>

<p style="text-align: justify;">The government had allocated Rs 10 billion for the project in the current FY. According to the source at MoD, the remaining unspent amount not spent so far will be given to the Nepal Army. &nbsp;Satyendra Shakya, Chief of the Kathmandu-Terai Fast Track Project informed that Rs 7 billion has been released for the purpose till date. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5844',
			'image' => '20170616052456_fast track nov 21.jpg',
			'article_date' => '2017-06-16 00:00:00',
			'homepage' => false,
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	(int) 13 => array(
		'Article' => array(
			'id' => '6059',
			'article_category_id' => '1',
			'title' => 'BFIs Risk Losing Good Debtors Due to High Base Rate',
			'sub_title' => '',
			'summary' => 'As the banks and financial institutions with high base rates charge higher interest rates on loans, they are likely to lose good debtors',
			'content' => '<p>June 16: As the banks and financial institutions with high base rates charge higher interest rates on loans, they are likely to lose good debtors.</p>

<p>The situation was created after the Nepal Rastra Bank (NRB) directed the BFIs to fix the interest rates of loans on the basis of base rate.</p>

<p>As per the directive, the BFIs cannot charge interest rates on loans less than the base rates. Due to this system, debtors paying back the loans on time are likely to be attracted towards low base rate BFIs. As a result, the profit of BFIs with higher base rate can be decreased and this will compel the financial institutions to go to merger.</p>

<p>Earlier, BFIs having high base rate were also providing loans on low interest rate and though NRB had made declaration for base rate, the interest of loans was not associated with it. The BFIs are required to publish their base rate on a monthly basis.</p>

<p>According to the third quarter financial reports published by the commercial banks, their present base rate is not less than six percent due to which the interest on loans will not be less than eight percent.</p>

<p>Similarly, some banks even have to charge interest rates more than 12 percent. As per the third quarter financial reports published by banks and financial institutions, base rate of BFIs ranges from 5.71 percent to 11.42 percent.</p>

<p>The statistics till April 13 of the current fiscal year shows that the base rate of Standard Chartered, Rastriya Banijya Bank, Nabil Bank and Nepal Bank is less than six percent. Likewise, the base rate of Himalayan Bank, Everest, Siddhartha, Prime and Bangladesh Bank stands around eight percent.</p>

<p style="text-align: justify;">Laxman Risal, CEO of NIC Asia Bank opines that the high base rate will be a distracting factor for big and good debtors. The base rate of NIC Asia which was 10 percent till April 13, has reached 10.50 percent by May 14.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-06-16',
			'modified' => '2017-06-16',
			'keywords' => '',
			'description' => '',
			'sortorder' => '5843',
			'image' => '20170616043859_base rate.jpg',
			'article_date' => '2017-06-16 00:00:00',
			'homepage' => false,
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	(int) 14 => array(
		'Article' => array(
			'id' => '6058',
			'article_category_id' => '1',
			'title' => 'Enterprise Calls Applications for Third Batch of NBAP',
			'sub_title' => '',
			'summary' => 'Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP)',
			'content' => '<p>June 15: Business accelerator Enterprise has called applications for its third batch of Nepal Business Accelerator Programme (NBAP).</p>

<p style="text-align: justify;">The programme is designed for companies which have completed three years and are looking to fine-tune their business models, have innovative and dedicated team members to raise funds from investors, and move to the next level of business growth.</p>

<p>According to Ajay Shrestha, Program Director at Enterprise, a lot of small and medium size enterprises (SMEs) do not have access to technical and financial resources to grow.&nbsp; He shares that business accelerator can add a lot of value to these companies by providing them the necessary tools to analyse their overall growth strategy. &ldquo;By doing so, Enterprise helps them develop their internal capacity and makes them more attractive to investors,&rdquo; he says.</p>

<p>Issuing a press statement Enterprise mentions that, it has successfully mentored companies including Foodmandu, Ingrails, Aiden Engineering, A.C.T 360, Funkey Delights and Vim Vox in the second batch</p>

<p>&quot;The last batch got an opportunity to work with some of the leading industry experts in the country to reassess their business models and pitched their businesses to a select group of banks, angel investors, venture capital funds, and private equity funds on the Demo-Day,&quot; reads the statement.</p>

<p>As per Enterprise, out of the six participating companies, three have already received investments. &ldquo;The size of the investment in these companies averages Rs 8 million,&rdquo; says the company. The other three have received term sheets from investors and are in the final stages of negotiation.</p>

<p>Enterprise Batch Three will incorporate 10 teams and is scheduled to begin on 1st August, 2017. The registration of applications closes on 30th June 2017.</p>

<p>Enterprise has been working on developing ecosystem for venture capital and private equity investment in Nepal. This programme, which is managed and funded by True North Associates, an investment, consulting, and management firm based in Nepal, was initiated by Nepalese Young Entrepreneurs&rsquo; Forum (NYEF) in partnership with Centre for Creation of Economic Wealth (CCEW) at the University of Oklahoma.&nbsp;</p>
',
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			'created' => '2017-06-15',
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			'sortorder' => '5842',
			'image' => '20170615064916_5.jpg',
			'article_date' => '2017-06-15 00:00:00',
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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