Stories By 'RUPAK D SHARMA'
At least 19 commercial banks should start offloading institutional deposit soon to meet the new regulatory requirement, as the share of their wholesale fund provided by institutional customers exceeds 45 percent of the total deposit.
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Nepal’s budding e-commerce business is expected to get a much-needed shot in the arm soon, as two banks are introducing platforms that will enable debit and credit card holders to purchase goods and services from online stores based in the country.
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The National Planning Commission (NPC), the apex body that frames the government’s development policies and programmes, has recommended that an Act be formulated to define projects of national pride, as it would legally bind authorities to accord certain concessions to such projects and ease their selection process.
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Interest rates in the banking sector are likely to remain stable, but at the higher end, in the next fiscal year, as the central bank has sought to purchase excess liquidity of banks at a fixed interest of 3 percent.
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The government has proposed that newly-formed local bodies be allowed to generate revenue by imposing 15 different types of taxes and fees to enable them to cover various recurrent and capital expenses.
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Nepal is all set to bag the biggest foreign grant amount in its history with the government wrapping up negotiations on “compact programme” with the United States. The deal will pave the way for the country to tap a funding pool of $500 million (approximately Rs52 billion).
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