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There has been a sharp rise in non-performing loans (NPLs) of commercial banks as they grapple with economic recession, the slowdown in loan recovery, and debt servicing. The unaudited financial reports of 21 commercial banks for the third quarter of the current fiscal year 2022/23 show their NPL has reached 3.03 percent, an increase of a whopping 148 percent compared to the same period of the last fiscal year. The NPL of the commercial banks stood at 1.21 percent as of mid-April, 2022. The banks have been dealing with growing bad loans in the current fiscal year. The NPL of commercial banks stood at 2.29 percent till the second quarter of this fiscal (mid-January 2023). The third quarter reports show NPL has further deteriorated in the last three months. Bankers attribute the rise in NPL to the slowing economic activities coupled with higher interest rates, and borrowers' inability to repay debts. According to them, loan recovery and debt servicing have become difficult of late. According to Sanima Bank CEO Nischal Raj Pandey, the rise in NPLs is basically due to the chain impacts of the economic downturn. "The cash flow in the market has been affected severely. In addition, the demand for goods and services has also declined dramatically," said Pandey. Besides, the government's inability to pay billions of rupees it owes to the contractors has added problems, according to Pandey. He says that borrowers related to the construction sector have not been able to repay their loans. "With the slowdown in the real estate and stock market, common people's investments have gotten trapped," said Pandey. With the sharp rise in NPLs, the loan loss provisions of banks have also increased. As per the unaudited financial reports for the third quarter of banks, the amount for provisioning has increased by 341 percent. Banks have set aside Rs 30.86 billion for loan loss provisions till mid-April 2023 compared to Rs 7 billion during the same period of the last fiscal year. The total provisioning amount of banks increased by Rs 23.86 billion in the last 12 months. Among the commercial banks, NPLs of three banks crossed 4 percent. Himalayan Bank has the highest NPL of 4.56 percent, followed by the Agricultural Development Bank with 4.35 percent, and Nepal Bank with 4.16 percent. Four banks have managed to keep their NPL below 1 percent. Nepal SBI Bank, Standard Chartered Bank Nepal, NIC Asia Bank, and Everest Bank have less than 1 percent NPL. SBI's NPL stood at 0.97 percent, Standard Chartered’s at 0.90 percent, NIC Asia's at 0.85 percent, and Everest's at 0.70 percent. The rise in NPL levels and provisioning amount has hit the commercial banks' profit in the current fiscal year. The profit of banks surged by 11.68 percent to Rs 48.70 billion by the third quarter of this fiscal. The banks' profit stood at Rs 43.61 billion during the same period of the last fiscal year. Among the commercial banks, Nabil Bank posted the highest profit of Rs 5.11 billion in the third quarter of the current fiscal year. The Global IM Bank is at number two with a profit of Rs 4.35 billion followed by NIC Asia with Rs 4.01 billion. Banks' NPL

The price of gold has dropped by Rs 900 per tola in the domestic market on Sunday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow bullion is being traded at Rs 109, 300 per tola today. The yellow metal was traded at Rs 110, 200 per tola on Friday. Meanwhile, tejabi gold is being traded at Rs 108, 800 per tola. It was traded at Rs 109, 650. Similarly, the silver is being traded at Rs 1,440 per tola today.

A leader of the Janata Samajbadi Party has been arrested from the Jabdi voting center in Devtal Rural Municipality-7,Bara on Sunday. A police team deployed to protect the ballot box apprehended Janata Samajbadi Party leader and District Coordination Committee member Ram Sagar Yadav this morning. Police said that they detained Yadav after he tried to cast two ballot papers having swastik stamp. He has been sent to the District Police Office, Bara. Meanwhile, the JSP leaders have tried to capture the booth at the voting center in Inaruwa of Mahagadhimai Municipality-2, Bara. Journalists have also been barred from entering the voting center.

A person died when a bus met with an accident at Jordhar in Tinau Rural Municipality-5 on Sunday. The bus (Lu 1 Kha 5956) was heading towards Gulmi from Palpa when the incident occurred. DSP Birendra Thapa, Information Officer at the District Police Office, Palpa, said that a body was found from the incident site. He said that 10 persons have been rescued and sent to the Lumbini Medical College for treatment. DSP Thapa said that police are searching for the injured persons. Police said that the bus fell some 100 meters down the road. Meanwhile, a person died and five others sustained critical injuries in a pick-up accident at Champetar in Phidim Municipality-11 of Panchthar district. The deceased has been identified as Sajan Kerung (28) of Luwafu, Phalelung-8. The pick-up (Me 1 Ja 2958) was en route to Phidim from Luwafu, Phalelung when the tragedy took place. The injured has been taken to the Panchthar Hospital for treatment.  

Voting started peacefully in Bara-2 on Sunday. The Election Commission said that the voting that started at 7 am will continue till 5 pm today. Bara-2 has remained vacant after Ram Sahaya Prasad Yadav was elected to the post of Vice-President. The constituency has a total of 102, 548 eligible voters. There are 82 polling stations in the constituency. There are 67 sensitive voting centers out of 137 in the constituency. Upendra Yadav of Janata Samajbadi Party, Shiva Chandra Kushawaha of Janamat Party, Purushottam Paudel of CPN-UML, Ramesh Kharel of Rastriya Swatantra Party, Arun Gyawali of Aam Janata Party among others are in the fray. Among the 34 candidates in Bara, 24 have filed their nominations as independent candidates.  

Voting began in Chitwan constituency 2 on Sunday. Voting has started in all 138 polling centers of 43 polling stations at 7 am, said assistant returning officer Ishwori Acharya. There was an encouraging participation of voters as they queued to exercise their franchise braving hot temperature. The constituency has a total of 124,695 eligible voters (63,291 women, 61,403 men and one third gender). The main competitors from the constituency are Nepali Congress Jit Narayan Shrestha from the democratic-left alliance, CPN-UML's Ram Prasad Neupane and Rastriya Swatantra Party's Rabi Lamichhane. Of them, Shrestha is casting his vote from the polling center at Chartumukhi Secondary School at Shaktikhor while Neupane and Lamichhane are missing in the voter roll, it has been said. Lamichhane vacated the House of Representatives in a citizenship issue.

Voting began in Tanahun constituency 1 on Sunday. Voting has started in all 152 polling centers under the constituency at 7 am in a peaceful manner, said Hari Prasad Dhakal, chief of the district election office, Tanahun. People can cast their vote until 5 pm today. Tight security arrangements have been made for the by-election, he said. Nepali Congress candidate Gobinda Bhattarai is scheduled to cast his vote from the polling center at Tanahun Basic Secondary School in Byas Municipality-11. CPN-UML candidate Sarbendra Khanal and Rastriya Swatantra Party's Dr Swarnim Wagle are deprived of exercising their franchise as their name is not listed on the voter roll. Following the voting, the filled ballot boxes will be transported to Damauli in the presence of the representatives of various political parties, Min Bahadur Kunwar, assistant returning officer at the office of chief election officer. After the collection of ballot boxes, an all-party meeting will be called to count votes, he added. Nepali Congress's Ramchandra Paudel vacated the House of Representatives seat after being elected third President of the country. The main competitors for the seat are Bhattarai, Khanal and Wagle. The constituency has a total of 123,305 eligible voters. In view of the voting, vehicle has been halted along Tanahun-1 section under the Prithivi Highway and local roads from 5 am to 6 pm today. However, fire engines, ambulances, hearses and vehicles carrying water, milk, garbage, health workers and journalists who have carried press pass from the Department of Information and Broadcasting will be allowed.  

Social activist Shreedhar Lamichhane’s book ‘Sahaj Budheuli’ was launched amidst an event in Bhaktapur on Saturday. Minister for women, children and senior citizens Mahendra Raya Yadav, National Assembly member Bimala Paudyal Rai, senior doctor Gauri Shankar Lal Das and senior journalist Bhairab Risal among others were present in the program organized at the Siddhi Smriti Hospital. Saying that the book would be very useful for the senior citizens, Minister Yadav while launching the book expressed his commitment to disseminate the book across the country through National Federation of Senior Citizens at the initiative of the ministry. He also said that the government is planning to construct a 165-bed hospital for the senior citizens. Also speaking at the program, National Assembly member Rai said that senior citizens, policy makers, officials at the implementing agencies and local levels should read the book of Lamichhane. Shreesh Bhandari, editor of the book, said that this book can be considered as an official document to make the daily lives of senior citizens easier and iron out their problems. The book discussed the stories, pains and problems of the senior citizens and also the ways to resolve them, he said. The 264-page book was published by Eternal Publications Pvt. Ltd. The book can be obtained from Ratna Book Store, Bagbazaar, Book Palace, Exhibition Road, Unnati Books, Exhibition Road, Airavati Publication, Dillibazaar, Anu Books, Satdobato, Complete Book, Narayangarh, Student Book Shop, Hetauda and Asia Book Center, Birtamod.