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The price of gold has dropped by Rs 900 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 215, 200 per tola today.

Similarly, the price of silver has dropped by Rs 30 and is being traded at Rs 2, 520 per tola.

The 28th Ganeshman Singh Memorial Day is being observed today.

The supreme commander of the people's movement in 1990 is being remembered by recognizing his contribution to the restoration of democracy in the country.

An epitome of sacrifice and courage in Nepali politics, Singh had become a source of inspiration for many after the success of the people's movement in 1990.

Born on Kartik 24,  1972 BS at Chaksibari in Chhetrapati, Kathmandu, Singh passed away on Asoj 2, 2054 BS. Born into a noble family in Kathmandu, he became active in the campaign to overthrow the Rana regime as a member of the Praja Parishad, Nepal's first political party established in 1997 BS.

He was jailed for many years during his strive for democracy in the country. He joined BP Koirala during exile in India, coming together to establish the Nepali National Congress party in 2003 BS.

Ganeshman was a senior minister in the government formed after the first ever parliamentary elections in 2015 BS. He also played a leading role in the 2036 BS student movement and the subsequent referendum.

Marking the occasion of Leader Singh's 28th Memorial Day, various programs are being organized by the sister and well-wisher organizations of the Nepali Congress. The events start with a wreath-laying ceremony scheduled to be held at the statue of Ganeshman Singh at Shobha Bhagwati in Kathmandu this morning.

The average interest rates offered by banks for the month of Ashoj (mid-September to mid-October), the third month of the current fiscal year 2025/26, have declined further.  Banks have been reducing interest rates in recent months as deposits in the banking system pile up and demand for credit slows.

According to the new interest rate published by commercial banks on Tuesday, the average minimum interest rate on ordinary savings accounts across the 20 commercial banks now stands at 2.75 percent, with the maximum at 3.81 percent. Similarly, the average minimum interest rate on individual fixed deposits (FDs) is 3.39 percent, while the maximum is 5.46 percent.

In the previous month, the average minimum interest rate on savings accounts was 2.76 percent and the maximum was 3.84 percent. For personal fixed deposits, the average minimum stood at 3.49 percent and the maximum at 5.59 percent.

According to the Nepal Bankers Association (NBA), all commercial banks have reduced their savings account interest rates compared to previous month. The decrease ranges from 0.002 percentage points to 0.033 percentage points. For individual fixed deposits, the decline ranges between 0.109 percentage points and 0.126 percentage points.

As a result, most banks now offer a minimum of 2.75 percent percent interest rate on ordinary savings accounts, while individual fixed deposit rates range between 2.75 percent and 5.5 percent. Nine commercial banks have lowered their interest rates on fixed deposits for Ashoj, while 10 banks have kept their rates unchanged. Standard Chartered Bank Nepal, however, bucked the trend, raising interest rate on individual fixed deposits by 0.050 percentage points to 5.18 percent.

Some banks, however, are still offering up to six percent interest on personal fixed deposits. Himalayan, Global IME, Machhapuchchhre, NIC Asia and NMB are offering six percent interest on fixed deposits. Machhapuchchhre Bank is the only commercial bank to increase its interest rates on saving accounts. 

Among government-owned banks, Nepal Bank Ltd is offering up to 5.25 percent on individual fixed deposits and 3.25 percent on institutional fixed deposits. Similarly, Rastriya Banijya Bank is offering 5.5 percent and four percent, respectively, while Agricultural Development Bank has capped its interest rates on fixed deposits at 5.05 percent for individuals and three percent for institutions. 

Analysts say interest rates fell also because of the Monetary Policy for 2025/26 which reduced the bank rate from 6.5 percent to six percent and the deposit collection rate from three percent to 2.75 percent.

Anil Sharma, Executive Director of the Nepal Bankers’ Association, said the continued abundance of liquidity in the banking system and the likelihood of it increasing further has pushed deposit rates steadily downward in recent months.

There is a possibility of heavy rainfall at one or two places of the hilly and Tarai regions of Koshi, Madhesh, Bagmati, Lumbini, and Sudurpaschim Provinces today.

As the weather remains generally cloudy throughout the country, there is a possibility of moderate rainfall at some places of the hilly regions including Koshi, Bagmati, Gandaki, Lumbini, and Sudurpaschim Provinces and at a few places of the remaining parts of the country, according to the Meteorological Forecasting Division.

Tonight, the weather will continue to remain generally cloudy throughout the country.

Possibility remains of moderate rainfall at a few places of Koshi, Madhesh, Bagmati, Gandaki, and Lumbini Provinces, and at one or two places of the rest of the country.

The price of gold has dropped by Rs 1, 000 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 216, 100 per tola today.

Similarly, the price of silver has dropped by Rs 45 and is being traded at Rs 2, 550 per tola.

The United Arab Emirates (UAE) has stopped issuing working visas to Nepali nationals.

Similarly, the UAE has also stopped issuing visit visas to Nepali citizens since Monday.

It has been learnt that the UAE stopped issuing working and visit visas to Nepalis after the government started investigating the incidents of vandalism, arson and looting during the Gen-Z protests and a large number of prisoners escaped from the prison.

Likewise, Nepali workers will not be allowed to travel to Korea on E-7 visas.

Issuing a notice on Tuesday, the Department of Foreign Employment stated that the Procedure 2080, pertaining to sending skilled workers to the Republic of Korea would not be implemented, thus closing the way to travel to Korea on E-7 visas.

The Department stated that the Ministry of Labor, Employment and Social Security has issued a directive not to implement the Procedure.

Currently, Nepali workers are going to Korea through the Employment Permit System (EPS).

Birgunj metropolis has claimed the loss of around Rs 1.15 billion in the vandalism and arson committed during the Gen-Z protests last week.

Chief Administrative Officer at the metropolis, Arbind Lal Karna, said various office buildings suffered severe damages in the protests. Collection of detailed information on the damages of ward offices and health facilities is continuous, he added.

The detailed information on the loss could ratchet up to as high as Rs 1.50 billion. Three buildings in the metropolitan premises were fully damaged in the vandalism and arson. Similarly, 17 four-wheelers, nine two-wheelers and two auto rickshaws were also targeted by the protestors.

Meanwhile, the Birgunj metropolitan council held on Tuesday paid tribute to those who lost lives in the Gen-Z protests and passed a condolence motion. The bereaved family members have been extended condolences by the meeting.

The metropolis is also for amending the budget unveiled earlier for the fiscal year, 2025/26 in order to prioritize the reconstruction of the damaged infrastructures.

Karnali Highway has been obstructed due to a landslide at Gaganekhola of Shubhakalika Rural Municipality-1 of Kalikot, disrupting the vehicular movement.

Gaganekhola is the most vulnerable spot along the Karnali Highway.

Chief of Jumla Road Division, Dipendra Chaudhary, said that vehicular movement has been obstructed due to a landslide triggered by the incessant rainfall last night.

He further said it would take time to clear the debris.

Similarly, the Narayangadh-Muglin roadway has also been obstructed due to a landslide on Tuesday. The landslide occurred at Tuinkhola of Ichchhakamana Rural Municipality of Chitwan.

Police Inspector at Muglin, Pratik Singh, confirmed the road obstruction since 8:50 pm Tuesday.

Currently, efforts are on to clear the obstruction.