Stock related news & regulations of Nepal Rastra Bank

Kathmandu, March 19 - Banks and financial institutions (BFIs) have been barred from revising the interest rate on loans that have already been issued.

Nepal Rastra Bank (NRB) has instructed the banks and financial institutions to stick with the same interest rate that was fixed when the loans were floated to the respective borrowers.

The central bank today issued a circular to all the licensed BFIs stating that lending rates cannot be revised following a verdict to that effect by the Supreme Court. The NRB has also asked the BFIs to be careful regarding the social prestige and dignity of the borrower and family members while recovering loans. The central bank circular further instructs the BFIs to have respect and sympathy and opt for justified means while recovering credit.

The central bank issued the circular today to execute the verdict given by the apex court, which has directed BFIs on fair value calculation of the property that is going to be taken as collateral from the borrower against the loan. The circular also states that BFIs must auction the collateral or accept the collateral according to the prevalent market rates.

Source: The Himalayan Times

Corporate News

Joint Operation of Kumari Bank

June 18, Kathmandu - Nepal Rastra Bank has given approval for the acquisition of three development bank and one finance company to Kumari Bank.

Read more ...

Remittance growth retards

Kathmandu, June 10 - Growth of remittance has plummeted heavily this fiscal as compared to previous fiscal year.

Read more ...

Nabil, TBC join hands

KATHMANDU June 07: Nabil Bank and The British Council (TBC) have entered into an agreement to facilitate payment of fees by students for various tests including IELTS.

Read more ...

Bankers oppose NRB proposal on floating interest rate loans

KATHMANDU, March 23: Bankers have said that it was not possible to follow a new rule proposed by the Nepal Rastra Bank (NRB) that will prohibit them to revise interest rates on floated loans more than twice a year.

Read more ...
Symbol % Change Last Price Turnover
UFL 6.0000 265.0 173,220.0
NBF1 5.2632 20.0 31,177.0
EBL 4.7041 1,380.0 41,502,313.0
GFCL 4.5455 207.0 494,280.0
CLBSL 3.9936 1,302.0 195,700.0
Symbol % Change Last Price Turnover
SKDBL -6.4935 360.0 2,465,632.0
EBLCP -4.4101 867.0 804,290.0
GRDBL -4.1096 630.0 265,860.0
SINDU -4.0000 336.0 1,534,424.0
ARUN -3.4314 197.0 134,710.0
Symbol % Change Last Price Turnover
PRVUPO 0.0000 190.0 141,267,660.0
EBL 4.7041 1,380.0 41,502,313.0
SCB 0.0440 2,275.0 28,067,533.0
PLIC 0.2344 2,566.0 27,478,564.0
SBL -1.2220 485.0 26,757,006.0