Latest News
National Cooperative Bank Raises Concerns Over Cooperative Act Amendments, Calls for Stronger Risk Management
National Cooperative Bank Limited has clarified its position on recent changes to the Cooperative Act, 2074, emphasizing legal compliance, transparent asset valuation, protection of members’ ownership, and stronger risk management to maintain financial stability in the cooperative sector.
Floods and Landslides Disrupt Major Highways; Two Road Sections Completely Closed
Floods and landslides have disrupted road connectivity across Nepal, with major highways in Rasuwa and the Beni-Jomsom road section completely blocked. One-way traffic is operating at three other locations, according to Nepal Police.
Government Orders Strict Action Against Black Marketing and Overcharging Ahead of Dashain
The government has directed authorities to take immediate legal action against black marketing, artificial shortages, and excessive public transport fares ahead of Dashain. It has also announced intensified market inspections to ensure the smooth supply of essential goods.
Government Recommends Three Ordinances, Orders Action Against 1,167 Employees for Rule Violations
The government has recommended three ordinances related to land, disaster management, and forest laws for presidential issuance while directing action against 1,167 employees for failing to follow office hours or wear prescribed uniforms. It has also announced tighter market and transport monitoring ahead of the festive season.
NEA Announces Additional 0.50% Reward for Online Electricity Bill Payments
The Nepal Electricity Authority (NEA) has introduced an additional 0.50% Smart Pay Reward for domestic consumers paying electricity bills through digital platforms. The scheme will initially run for six months, while the existing 2% discount for payments made within seven days of meter reading will remain unchanged.
ICRA Nepal Reaffirms NIMB Ace Capital’s Fund Management Quality Rating at AMC Quality 3+
ICRA Nepal Limited has reaffirmed the fund management quality rating of NIMB Ace Capital Limited at [ICRANP] AMC Quality 3+, indicating an adequate level of assurance regarding the company’s asset management quality.
Dashain Bus Ticket Booking Opens on Bus Sewa, Passengers Can Get Up to Rs. 100
Bus Sewa has opened advance bus ticket bookings for Dashain from Thursday, Ashoj 23. Passengers booking through its website and mobile app can receive discounts of up to Rs. 100, along with additional cashback offers through partner banks and digital payment services.
Government to Provide Rs 1.5 Billion in Grants to Sugarcane Farmers
The government is set to distribute Rs 1.5 billion in grant assistance to sugarcane farmers in Bardiya, Rautahat, Kailali, and Kanchanpur. Agriculture Minister Geeta Chaudhary has approved the procedures for providing the subsidy to support sugarcane producers.
SADBL AGM Approves 10.52% Dividend, Re-elects Ujjwal Satyal as Chairman
Shangrila Development Bank Limited (SADBL) has approved a 10.52% dividend for shareholders through its 22nd AGM, comprising a 6.52% cash dividend and 4% bonus shares. The meeting also elected a six-member board for a four-year term and re-elected Ujjwal Satyal as chairman.
Nabil Bank AGM Approves 15.80% Dividend for FY 2082/83
Nabil Bank Limited (NABIL) has approved a total 15.80% dividend for FY 2082/83, comprising 5% bonus shares and 10.80% cash dividend. The bank also approved an 8% dividend for irredeemable non-cumulative preference shareholders.
Buddhabhumi Nepal Hydropower Appoints Parbati Shrestha as Director
Buddhabhumi Nepal Hydropower Company Limited has appointed Parbati Shrestha as a director to fill a vacant position on its board. Her appointment is subject to approval at the company’s 18th Annual General Meeting (AGM).
Dashain Relief: Consumers Can Exchange Empty LPG Cylinders for Full Ones of Any
Nepal Oil Corporation and the Nepal LP Gas Industry Association have agreed to allow consumers to exchange empty LPG cylinders of any brand for full cylinders of another brand without additional charges from Ghatasthapana to Phulpati. Five exchange outlets have been provisionally identified across Kathmandu Valley to ensure smooth gas supplies during Dashain.