Nepali News and Entertainment

Banks and financial institutions, after being able to bring capital-cum-deposit (CCD) ratio below 80 percent backed by increasing investable amount, are simultaneously  cutting off interest rate provided on fixed deposits. However, the point to be noted is the liquidity condition of the overall financial market. As per the Nepal Rastra Bank (NRB), banking sector has liquidity equivalent to Rs 65 billion at present. "Liquidity in banking sector has improved in the recent days. The liquidity which was 62/63 billion few days back has reached Rs 65 billion currently. It is excluding the cash reserve ratio (CRR)," said Narayan Prasad Poudel, Spokesperson of NRB. Earlier, when BFIs faced acute shortage of liquidity, the liquidity was contracted to Rs 10 billion. In the beginning of the current FY, BFIs were sunk in liquidity scarcity. However, during the mid-term, BFIs faced lack of investable amount due to large growth in credit expansion compared to deposit collection. The...

Rastriya Banijya Bank (RBB), Biratnagar branch is in chaos after a businessman eloped without paying huge bank loan. Binod Dugar, a businessman from Biratnagar fled with Rs 41.5 loan taken from the Biratnagar branch of RBB. Consequently, the RBB branch has sealed Krishnaa Store located at Mainroad of Biratnagar owned by Dugar. According to Krishna Shah, Deputy Chief of the branch, Dugar eloped with Rs 41.5 million amount of the bank. "Dugar ignored loan payment notifications time and again, thus, the bank sealed the store," he said. Dugar obtained the loan on real estate collateral. Dugar was dealing with the bank since the last two years and had been paying interest regularly. However, he missed the interest payment since the last two quarters. Dugar was operating a garment store in Biratnagar since the last two and half decades. Apparently, he has also taken huge loans with local co-operatives and various individuals.