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NRB slashes commission to commercial banks
Nepal Rastra Bank (NRB) has substantially cut down the commission it provides to commercial banks involved in government’s transactions from the current fiscal year. The NRB said the facilities enjoyed by those banks were “too high.”
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Sunrise Bank opened its 37th branch at Surunga
Kathmandu: Sunrise Bank on Tuesday opened its 37th branch at Surunga, Jhapa. The new branch aims to provide modern banking access to the area. General manager Suman Neupane said the new branch would promote small and medium enterprises in the region and its surroundings. He said that the bank was committed to identifying new areas of investments and provide banking services
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Rastra Bank suspend Finance Institutions upgradation
Nepal Rastra Bank (NRB) has halted the upgradation process of three financial institutions to ‘A’ class commercial banks for the time being. The NRB says it will allow the upgradation after making a “certain new policy.”
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Sunrise Bank trades largest number of shares
Between May 16 to June 17, Sunrise Bank Limited (SRBL) traded the largest number of shares amongst the commercial banks whose shares were traded in Nepal Stock Exchange (NEPSE) during the period.
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Janata Bank Nepal has started as 27th commercial bank in Nepal
Janata Bank Nepal Limited has embarked upon its operations in the capital on Wednesday as Nepal's 27th commercial bank.
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Citizen Bank donates Rs. 10m to Kidney Center .
Citizen Bank International (CBI) has provided a grant assistance of Rs 10 million to the Kidney Center for the treatment of the poor patients in the capital on Tuesday.
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World Bank pledges Rs 9.17 billion for Nepal's health sector .
The World Bank has approved a US$ 129.2 million (approximately 9 billion and 163.02 million rupees) aid for providing access to poor Nepalis to essential heath services.
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NIBL introduces 'Saving Bonanza'
Nepal Investment Bank Limited (NIBL) has introduced a new product 'Saving Bonanza' which offers interest starting from 6.5
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Bankers lay stress on CBMs
Bankers have stressed confidence building measures (CBMs) by stakeholders and the government to encourage deposits back into the banking system.
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MoU inked To Boost Business With US
Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepalese Embassy, Washington DC, and Non-Resident Nepali Association (NRNA) have inked a memorandum of understanding (MoU) to work together to increase investment.
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Japan's Economic Aid TO Nepal
Japan has pledged a grant aid totaling US$ 4.55 million to protect women, children and the poor in Nepal.The assistance was announced at a programme in the capital on Monday.
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Micro Hydro Plans To Be Constructed In Each VDC
The government has put forward an ambitious plan to construct micro-hydro projects in each VDC using local fund, technology and manpower.
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Chinese Business Delegations To Invest In Nepal
The Nepali business community has urged a visiting Chinese business delegation from Sichuan to expand their investment as well as infrastructure development to Nepal.
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Government Reforming Customs Administration
Director General of the Department of Customs Nawaraj Bhandari has said that the government continues to engage in reforming the customs administration as per Nepal's commitment to the World Trade Organisation, South Asian Free Trade Agreement and other regional and global mechanisms.
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In The Pipeline 22 Financial Institutions
Even though the financial system is facing acute liquidity crisis, there has not been any recession in the race to commence new financial institutions.
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Indrawati Sub-basin Project Launched
Water and Energy Commission Secretariat (WECS) along with WWF (World Wildlife Fund) Nepal launched the Indrawati Sub-Basin Project amidst a function held in the capital on Monday.
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Inflow Of Remittances Declining
The inflow of remittances into the country is witnessing a gradual slackness.
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Himalayan Lakes Play Vital Role For NTY-2011
Minister of Tourism and Civil Aviation Sharat Singh Bhandari has on Friday said that Himalayan lakes play a vital role for Nepal Tourism Year (NTY-2011).
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Ordinary Shares Of City Development Bank Alloted
Ace Development Bank, the issue manager, has allotted 600,000 ordinary shares of Pokhara based City Development Bank Ltd. at a face value of Rs. 100.
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Nepal's UN Peace Missions To Be Helped By China
Chinese government has expressed willingness to extend support to Nepal for its peace missions deployed in various countries under the United Nations.
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Fake notes in Saptari market
Fake Nepali currency notes are found rampantly in main trade canters and market of Saptari district, according to reports.
Such counterfeit notes, especially Rs 500 denominations, have been detected in the mar
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Remitances Inflow Declining
The inflow of remittances into the country is witnessing a gradual slackness.
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UN To Allocate $ 6 million To Alleviate Nepal's Food Insecurity
The United Nations Central Emergency Response Fund (CERF) is allocating US$ 6 million (NRs 468 million) to the UN World Food Programme (WFP) to provide urgently needed humanitarian food assistance to more than 600,000 people in Nepal.
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Bhutanese Refugees To Get USD. 4.6m By Australia To Feed
The Australian Government's Overseas Aid Program (AusAID) has donated USD 460,000 to the United Nations World Food Programme (WFP) in Nepal to feed more than 90,000 refugees from Bhutan who have been living in camps in Eastern Nepal over the last 18 years.
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22 financial institutions in the pipeline
Even though the financial system is facing acute liquidity crisis, there has not been any recession in the race to commence new financial institutions.
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FM Pandey says ‘Govt will take action against erring cooperatives’
Finance Ministry Surendra Pandey has said the government will soon take action against those cooperatives involved in unethical practices.
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Budget To Be Launched Today
The legislature parliament is set to endorse the budget 2009/10 today after the ministers answer the questions on the budget allocations for their respective ministries.
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Rs. 1.28 billion Demanded For Pre-Melamchi Project
The Kathmandu Upatyaka Khanepani Limited (KUKL) has on Wednesday said that some Rs. 1.28 billion is needed to complete the Pre-Melamchi Project in the capital.
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US$73,588 For Disabled By Japan
The government of Japan has decided to extend financial assistance of US$ 73,588 to Samaj Sewa Sudhar Yuwa Sangh (Disabled Helping Committee) for the implementation of the project for the construction of a Rehabilitation School for People with Intellectual Disabilities and other Severe Disabilities in Mechinagar Sub-Municipality.
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6 Billion Amount Pledged By UK For Nepal's Health Sector
UKaid, the British aid agency, has pledged Rs 6 billion (£55 million) to Nepal's health sector for the next five years.
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Rajendra Man Shakya, Chief Executive Officer of CMB Finance Limited, a versatile and reputed professional in the financial sector of Nepal, spoke to Nepal Business Times regarding the economic scenario, financial and banking sector of Nepal and the progress achieved by CMB over the years. Excerpts: 
Shekhar Raj Bastakoti
