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With an abundance of investable capital in the banking system and loan interest rates dropping to single digits, investors’ interest in margin-based loans, where shares are used as collateral, has surged. While entrepreneurs in other sectors remain hesitant to take loans, capital market investors are actively borrowing for transactions, as recent data reveals.

According to Nepal Rastra Bank, margin-based loans against shares increased by 32.78 percent by the end of the current fiscal year (2024/25) compared to the same period last year. As of the first four months of the current fiscal year, the flow of such loans reached Rs 107.76bn, up from Rs 81.16bn in the same period last year.

Despite having an estimated Rs 500bn to Rs 700bn in the banking system, the central bank has expressed concerns about monetary management. Bankers report limited demand for new loans. Ganeshraj Pokharel, CEO of Citizens International Bank, attributes this to reduced confidence among entrepreneurs. “Although we are allowed to lend up to 90 percent of the credit-deposit (CD) ratio, we are currently at 83 percent. Even with seven percent additional lending capacity, loans are not being issued. Many entrepreneurs seem to be in a ‘wait and watch’ mode,” he said.

Pokharel noted that sluggish real estate transactions and minimal economic activity have contributed to the lower demand for loans. However, he expressed optimism about gradual improvements, emphasizing the need for more lending to stimulate economic growth.

Meanwhile, margin-based loans from the 20 commercial banks, which hold over 90 percent of the market share, have increased by 35.08 percent this fiscal year. These banks disbursed Rs 8.59bn in margin loans, up from Rs 6.36bn during the same period last year. Similarly, the 18 development banks operating in the country recorded a 25.07 percent rise in margin loans, with lending growing to Rs 1.76bn from Rs 1.4bn last year. Additionally, 18 finance companies saw a 22.02 percent annual growth, disbursing Rs 4.23bn in the first four months of this fiscal year compared to Rs 3.47bn in the previous year.

The central bank’s 2022 amendment to its integrated directive raised the limit on margin loans against shares. Individuals can now borrow up to Rs 150m, while institutional investors can borrow up to Rs 200m. Previously, there was no cap for institutional investors.

Earlier, the central bank had imposed limits on margin loans, categorizing the capital market as an unproductive sector. However, following criticism from investors, the limits were relaxed, allowing borrowers to access up to Rs 120m from multiple licensed institutions.

Shree Thangpal Valley Secondary School, located in Panch Pokhari Thangpal Rural Municipality, Sindhupalchowk, uses vegetables grown in its own garden for lunch.

The vegetables, cultivated in a tunnel by members of the school’s eco and health clubs, are incorporated into the school’s midday meals, according to Principal Raju Tamang. “The vegetables we use in lunch are produced here. This initiative allows students to generate income while also benefiting from fresh, nutritious produce,” said Tamang. “Aligning with state policy to link knowledge with skills and labor, we aim to foster self-reliance among students by creating opportunities for income generation.”

Principal Tamang explained that the school vegetable garden program was launched to achieve several goals: providing organic lunches, enhancing the greenery of the school premises, and utilizing resources that would otherwise go to waste. By consuming vegetables grown on-site, students enjoy healthy and sufficient lunches at a lower cost while gaining practical knowledge about vegetable farming.

School Management Committee Chairman Sundar Sapkota highlighted the program's effectiveness. He shared that the initiative helps eliminate junk food in the school and provides students with skill-based education. “We plan to transform the school into a model institution and eventually a technical school by offering practical and experimental education. This will involve requesting support from the rural municipality as well as state and federal governments,” said Sapkota.

The program receives additional support from KOICA’s ERCN project, which provides training on nursery management, seasonal vegetable production, and fertilizer preparation. KOICA field coordinator Kumar Bhattarai noted that the vegetable garden initiative equips students with valuable knowledge and skills. The organization has observed that students often apply these skills at home, increasing their families’ income.

The school has also used the proceeds from vegetable sales to fund public awareness programs and activities organized by the children’s club. Sapkota himself contributes to the initiative by planting and watering vegetables during vacations and holidays.

The garden serves as a practical learning space for students in grades 6, 7, and 8, who plant crops such as cabbage, cauliflower, coriander, spinach, and chili. These vegetables are purchased by the school and used to prepare midday meals, reinforcing the program’s objectives of sustainability, education, and self-reliance.

The price of gold has dropped by Rs 1, 200 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 153, 000 per tola today.

Similarly, the price of silver has dropped by Rs 65 and is being traded at Rs 1,860 per tola today.

The Muglin-Pokhara road section of Shuklagandaki Municipality-2 is to remain blocked for five days.

According to the Tanahun District Police Office, vehicular movement will remain disrupted from 8 am to 6 pm from today onward.

The decision was taken to ease the up-gradation of the road from Jamuna Bazaar to Setipul in Kaski.

The office has also urged transport entrepreneurs and passengers to use alternative routes.

photo.circle is organizing a multimedia exhibition, Who does the River Belong to?, showcasing  the works of nine photo.circle fellows that challenge the mainstream doctrine of progress. The exhibition will be held at Nepal Art Council from December 13-22. 

“The storytellers featured in this exhibition will invite us the people to rethink the story of progress, how we have come to embody it as individuals, communities, and nation states, and how it has singularly led to the plunder of our rivers, our forests, and our lands,” reads the statement issued by photo.circle.

What is the story of progress in Godavari, where the hills were taken over to extract marble? Who do those hills belong to? What is the story of progress in Mukkumlung where locals are fighting for a forest that has been decimated to clear land for a new cable car project? Who do those forests belong to? What is the story of progress in Jogidaha where politicians have promised a new airport to their voterbanks for the last 30 years, only to clear 156 hectares of forest and sell off most of the logged wood? Who do those trees belong to? What is the story of progress for the Sunkoshi river which is being dammed and diverted for electricity and irrigation? Who does the river belong to?

“My film will showcase how a promise of an airport destroyed a community forest in Jogidaha, Udaypur,” says Deepa Shrestha, one of the fellows. “In a way this is a story that is playing out all over Nepal.” Another fellow, Sara Tunich Koinch, shares that the inherent identity crisis she experiences has driven her to undertake this research and create a visual work about the Mukkumlung forests. “We live in a fast paced world. We need to learn again how to maintain harmony with nature,” Sara says.

The works being presented emerged after a nine month fellowship program, where each fellow was paired with a mentor. “We at photo.circle hope that this exhibition ignites a wider conversation that critiques the mainstream discourse of Bikas and Samriddhi, which has been central to Nepal's state policies,” says Bunu Dhungana, one of the mentors of the program.

“With our rivers, our forests, and our lands fast disappearing, what is to happen to our food, our songs, our customs of living and dying, and our culture that is so intimately shaped by the land?” says Nayantara Gurung Kakshapati, the curator of the exhibition.

The participating artists are Aman Shahi, Amit Machamasi, Deepa Shrestha, Kishor Maharjan, Sara Tunich Koinch, Priyanka Tulachan, Samagra Shah, Sundup Dorje Lama, Sanjay Adhikari and Shreena Nepal. The exhibition includes a drumming workshop by Amamn Shahi,  Thakali cooking and storytelling sessions with Priyanka Tulachan, talk by researcher Kailash Rai and photographer Sara Tunich Koinch as well as  guided tours of the exhibition.  

Founded in 2007, photo.circle is a Kathmandu-based, artist-led organization that provides resources and support for visual storytellers, researchers, educators, and cultural producers. photo.circle runs the Nepal Picture Library, a digital archive that documents Nepal’s diverse histories, and PhotoKTM, a biennial festival that engages the public with visual culture.

Former West Indies captain Brian Lara arrived in Nepal on Friday.

Lara, who arrived at Tribhuvan International Airport this morning, was welcomed by the officials of the Cricket Association of Nepal (CAN).

He came to Nepal to watch the Nepal Premier League (NPL) underway in Kathmandu.

CAN Secretary Paras Khadka through social media on Tuesday gave the information about West Indies cricket legend Lara coming to Nepal.

CAN believes that the arrival of the world-renowned veteran player will further help internationalize Nepali cricket along with the NPL.

It has been learnt that he will watch some matches of NPL and will have a conversation with the players.

The arrival of Lara, who is one of the greatest players in world cricket, will be a memorable moment for Nepali cricket," reads a statement issued by the CAN spokesperson. “The presence of Lara will not only inspire cricket fans, but will also play an important role in the development of Nepali cricket.”

The Federal Parliament Secretariat has begun the parliamentary hearing process of Purna Bahadur Nepali who was recommended a resident ambassador of Nepal for Democratic, Socialist Republic Sri Lanka.

Issuing a notice today, the Parliamentary Hearing Committee has called for complaints within 10 days with clear grounds and evidence in decent language if anyone feels it is not appropriate to appoint Nepali to the ambassadorial post as recommended.

The committee further said that the complaint or information can be sent through the committee's secretariat or the District Administration Office.

Almost a decade has passed since an earthquake-ravaged Nepal adopted a federal democratic constitution, exhibiting strong political will in the face of adversities, seismic or otherwise. The charter aside, the country has not been able to introduce laws that can make way for a smooth transition from an ages-old unitary system of governance to a federal system.

Let’s go 15 months back, at least, when the National Assembly, the upper chamber of the bicameral parliament, drew the attention of the government of the day, directing it to do the needful for making laws. The directive and successive governments’ commitments to drafting the laws aside, there are, at present, only two regulations under the consideration of the lower chamber of the parliament (the House of Representatives): School Education Regulation, 2080 and Federal Civil Service Regulation, 2080. The process of making scores of laws is ‘moving’ at a snail’s pace, giving an indication of the status of implementation of the new constitution.   

Out of these laws, the Center has been literally sitting on the task of making around 40 laws, followed by provinces (24) and local levels (6).  

The laws awaiting the light of the day cover a wide range of important topics such as citizenship, right to property, acquisition and compensation, and impeachment motion. 

They come under the ambit of different ministries such as home, law, justice and parliamentary affairs, and finance. 

Department ministries aside, it is the ultimate responsibility of the top government leadership to draft these laws and present them in the Parliament, making way for enlightened discussions, changes and authentication. 

Delays, inadvertent or otherwise, in introducing laws will only come in the way of devolution of state powers so crucial for taking the state at the doorsteps of the citizenry. Not only that, such delays will only bolster forces opposed to federalism and the new constitution, thereby contributing to a growing disenchantment against the system and its destabilization. 

So, the onus is on the government leadership to take decisive steps toward implementation of the new constitution by giving momentum to the stalled lawmaking process.