Category: Finance

Kathmandu: Non-Resident Nepalis (NRNs) are now able to open foreign currency accounts in Nepali banks for as little as one thousand dollars. Earlier, a minimum of $5,000 or equivalent was required to open a dollar account. On Wednesday, the NRB issued a circular to the banks asking them to make arrangements for opening dollar accounts… Continue reading NRNs allows opening bank account in Nepal with $1,000 deposit

Kathmandu: Nepal Oil Corporation (NOC) has again demanded money from the government to pay the Indian Oil Corporation (IOC) for petroleum products. The corporation has stated that it has written a request letter to the government to provide four billion rupees as they do not have enough money to purchase petroleum. The corporation has asked… Continue reading NOC wants 4 bn from govt to pay for fuel

Kathmandu: The country’s private sector has welcomed the government’s decision of approving the US aid project MCC. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (FNI), Independent Power Producers Association (IPPAN) and other organizations have issued a statement on Tuesday stating that the approval of MCC is a positive… Continue reading Private sector welcomes govt’s decision of approving MCC

Kathmandu: With the support of Nippon Foundation, Nepal Mountaineering Association (NMA) has provided relief materials to the tourism workers. Relief materials were provided to 3,125 tourism workers in a program held at the premises of Nepal Mountaineering Association on Saturday. Distributing relief materials to the tourism workers affected by the corona virus, Nepal Mountaineering Association… Continue reading NMA distributes relief materials to 3,125 tourism workers

Kathmandu: The US aid project MCC has been approved by the House of Representatives. The second meeting of the House of Representatives held on Sunday approved the MCC agreement from the parliament. After the CPN-Maoist Center and the Unified Socialist Party insisted that the MCC could not be passed without amendment, the government approved the… Continue reading Nepali parliament approves MCC

Kathmandu: India has urged Nepal to introduce two thousand Indian currency notes in circulation. Nepal Rastra Bank has stated that India has been repeatedly requesting to introduce 2,000 rate notes through the Ministry of Foreign Affairs. Indian travelers coming to Nepal are facing problems as the country is yet to approve two thousand notes of… Continue reading India requests Nepal to accept two thousand notes of Indian currency

Kathmandu: A discussion on MCC is scheduled to be held in the House of Representatives tomorrow. It is mentioned in the agenda of tomorrow’s meeting published by the Federal Parliament Secretariat that discussions on the MCC agreement will be taken forward. In the meeting to be held tomorrow at 1 pm, Prime Minister Sher Bahadur… Continue reading House of Representatives to discuss MCC on meeting tomorrow

Kathmandu: The government has signed a concessional loan agreement of Rs 2.14 billion with the World Bank to purchase vaccine against covid. The agreement was signed at the Ministry of Finance on Friday by Finance Secretary Madhukumar Marasini on behalf of the government and Faris Hadad-Jarvos, National Director for Maldives and Sri Lanka, including Nepal.… Continue reading 2.14 billion loan agreement with World Bank to purchase vaccine

Kathmandu: Nepal Rastra Bank has brought the new machine to destroy useless notes. Earlier, notes were destroyed manually by fire. Now the machine will destroy the note. Bank Note Shedding and Briquetting System (BSBS) has been brought into operation at its Biratnagar office with the objective of modernizing and mechanizing the laundry. On Friday, Governor… Continue reading NTB brings new technology to destroy useless notes

Kathmandu: Commercial flights have started at Falgunanda Sukilumba Airport in Ilam. In coordination with Ilam Municipality, Tara Air has started regular flights in the Kathmandu-Ilam route. Tara Air flew the flight in collaboration with Nepal Tourism Board, Ilam Municipality and tourism entrepreneurs. Flights have been scheduled for twice a week, on Sunday and Thursday.