Category: Finance

Kathmandu: In a recent discussion surrounding the strategic development of payment systems, experts have proposed the implementation of an Unstructured Supplementary Service Data (USSD)-based payment system in Nepal. This initiative aligns with the country’s Strategic Pillar-4, Objective-2, and aims to enhance financial inclusivity. The report titled “USSD-Based Payment System and its Regulations: Suggestions for Nepal”… Continue reading USSD-based payment system proposed for Nepal

Kathmandu: Former Deputy Prime Minister and Home Minister Rabi Lamichhane has been arrested on charges of embezzling funds from cooperatives. The arrest occurred on Friday evening at the central office of his political party, the Rastriya Swatantra Party (RSP), located in Banasthali, Kathmandu. As police took Lamichhane into custody, RSP leaders and supporters voiced their… Continue reading Former Deputy Prime Minister Rabi Lamichhane arrested for embezzlement charges

Kathmandu: A total of 237,000 travelers passed through Tribhuvan International Airport (TIA) during the five days of the Bada Dashain festival, according to the TIA office’s recent statistics. From October 10 to 14, which marked the period from the sixth day of Dashain (Phulpati) to the penultimate day, 160,910 passengers used domestic flights while 78,512… Continue reading 237,000 air travelers pass through TIA during Dashain festival

Kathmandu: Nepal Rastra Bank has announced that individuals seeking employment in Australia will now be eligible for passport exchange benefits on par with those traveling to Europe, the United States, and Japan. Currently, job seekers heading to Japan, South Korea, Europe, the US, and Canada have been receiving a foreign exchange facility of $500. In… Continue reading Now onwards Nepalis with work permit for Australia can carry $500

Kathmandu: The y-o-y consumer price inflation stood at 3.85 percent in mid-September 2024 compared to 8.19 percent a year ago. Food and beverage inflation stood at 5.03 percent whereas non-food and service inflation stood at 3.19 percent in the review month. During the same period in the previous year, the price indices of these groups… Continue reading Consumer inflation remained 3.85 percent on y-o-y basis

Kathmandu: The Nepal Rastra Bank (NRB) has reported a significant decrease in currency exchange pressure this year, as it refrains from printing new notes for the upcoming Dashain and Tihar festivals. In contrast to last year’s exchange of Rs 14.5 billion in new notes within the Kathmandu Valley and Rs 29 billion nationwide, this year’s… Continue reading Reduced currency exchange pressure in Nepal ahead of festivals

Kathmandu: The World Bank’s Board of Executive Directors today approved $150 million in contingent financing for the Government of Nepal to use in the event of a natural or climate-induced hazard or health emergency in Nepal. The Nepal Disaster Resilience Development Policy Credit with Catastrophe Deferred Drawdown Option (Cat DDO) operation supports policy and regulatory… Continue reading World Bank approves $150 mn to strengthen Nepal’s disaster response and resilience

Kathmandu: Minister for Physical Infrastructure and Transport, Devendra Dahal, has announced that the reconstruction efforts following the recent floods and landslides will require an estimated budget of NPR 20 to 25 billion. Speaking at a meeting of the Infrastructure Development Committee of the House of Representatives, Minister Dahal explained that this estimate covers damages to… Continue reading Infrastructure Minister reveals reconstruction costs following recent floods and landslides

Kathmandu: The Ministry of Finance has begun assessing the economic repercussions of the recent floods and landslides that devastated the region. During a meeting of the ministry’s High Management Team today, Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel emphasized the need for detailed analysis as additional funds and resources will be necessary… Continue reading Finance ministry evaluates economic impact of recent floods and Landslides

Kathmandu: Nepal is set to receive Rs 1.06 billion as part of a carbon trading initiative aimed at reducing carbon dioxide emissions through its forests. This funding comes from the REDD Implementation Center under the Ministry of Forest and Environment, recognizing efforts in 13 districts of the Terai region. The financial support is linked to… Continue reading Nepal to receive Rs 1.06 bn from carbon trade for emission reduction