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Nepal Telecommunication Authority Chairman Purushottam Khanal has resigned from his post on Tuesday.

Khanal tendered his resignation after he was accused of being involved in the irregularities in the purchase of systems such as Mobile Device Management System (MDMS) and Teramocs among others.

Minister for Communications and Information Technology Rekha Sharma was dissatisfied with the working style of Khanal recently.

Minister Sharma had even asked for clarification after he was accused of being involved in irregularities.

Khanal resigned from his post after Minister Sharma was preparing to sack him in the Cabinet meeting.

The Prime Minister’s Office had summoned him on Monday for a discussion.

During the discussion, the Prime Minister’s secretary objected to his working style.

The Public Accounts Committee of the Parliament has also directed the Commission for the Investigation of Abuse of Authority to carry out an investigation into the process of purchasing Teramocs technology.

Banks and financial institutions (BFIs) are awash with cash. Although the lending capacity of BFIs has increased, demand for loans has dropped. Recognizing excessive liquidity in the banking system, the Nepal Rastra Bank (NRB) has absorbed Rs 180bn from the banking system through various monetary instruments since mid-December.

Additionally, the central bank has been working to maintain inter-bank lending rates within the prescribed limit. Although the central bank had previously stated that it would prevent inter-bank lending rates from falling below three percent, these rates have, in fact, dipped below three percent for some time. In March of the previous year, the inter-bank lending rate had surged to as high as 7-8 percent due to a tight liquidity situation.

“After the inter-bank rate fell below the prescribed limit, we absorbed liquidity from the system through deposit auctions. This action helped the interbank lending rates to go above the limit on Jan 3 and 4,” explained NRB Spokesperson Dr Gunakar Bhatta. “Banks currently hold liquidity of around Rs 100bn, excluding the four percent cash reserve ratio that they are required to maintain.”

One of the contributing factors to the increasing liquidity in the banking system is the drop in imports. The demand for credit from other sectors is also not satisfactory, Dr Bhatta added.

Commercial banks, development banks, and financial institutions collectively have a credit extension capacity of Rs 433bn. The total deposits of BFIs have risen to Rs 6.06trn, with Class ‘A’ banks alone holding deposits amounting to Rs 5.37trn. Development banks and financial institutions have mobilized Rs 696bn in deposits. According to the central bank, banks are reporting an annual deposit growth of Rs 500bn. However, their lending capacity has not seen a corresponding increase.

BFIs have invested around Rs 5.02trn, with the investment of commercial banks alone reaching approximately Rs 4.44trn. Similarly, development banks and financial institutions have extended credit amounting to an additional Rs 582bn.

Bankers acknowledge that banks have not been able to invest as much as they wanted. “Banks are finding themselves awash with loanable funds also because the working capital policy prohibits them from extending new loans in the final month of the quarter,” Nepal Bankers Association (NBA) President Sunil KC said. “As banks prioritize the recovery of old loans over new investments in the last month, the size of loanable funds has consequently expanded.”

Private sector leaders say that businesses are struggling to meet their existing obligations, let alone secure new credit. Chandra Prasad Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said the private sector was seeing a 20-30 percent decline in both production and sales. “This has made loan servicing difficult for businesses,” Dhakal said. “Businesses are hesitant to seek new credit also due to uncertainties about policy stability in the coming days.”

Dhakal, however, said he was hopeful of positive upturn in the coming days. “With the gradual fall in interest rates, confidence is expected to be restored among both the private sector and general consumers. The recent policy decisions of the central bank are favorable. The government has also expressed commitment to settle outstanding dues and expedite capital spending,” Dhakal added. A recent survey conducted by the Confederation of Nepalese Industries (CNI) reveals that the overall demand has declined. “Industrial raw material prices are rising, but their import is falling,” the CNI survey report stated.

The Nepal Electricity Authority (NEA) has announced a five-year installment facility for the payment of electricity tariff dues related to dedicated and trunk line services.

In a public notice issued today, the NEA has urged relevant entities to submit applications for installment facilities at the respective NEA distribution centers within the next 30 days.

Following a decision made during the January 1 meeting of the NEA Board of Directors, industries are now eligible for a one-time installment facility to settle their dues associated with dedicated and trunk line services.

The NEA has taken this step, in response to the accumulated electricity dues from 61 industries, amounting to Rs 22.24 billion.

Consequently, power supply to 24 industries has been disconnected. 

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

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 118, 600 per tola today. It was traded at Rs 118, 800 per tola.

Meanwhile, tejabi gold is being traded at Rs 118, 050 per tola. It was traded at Rs 118, 250 per tola.

Similarly, the silver is being traded at Rs 1,415 per tola today.

Two persons died when two motorcycles collided with each other in Mahottari along the Jaleshwor-Bardibas road on Monday.

The deceased have been identified as Mukesh Chamar (30) of Thalahi Birta of Ramgopalpur Municipality, and Dharmendra Mahato (32) of Bhangaha Municipality-3, according to Deputy Superintendent of Police at District Police Office, Dilip Kumar Giri.

Two pillion riders were injured in the accident.

Shree Ram Gosai (32) of Bhangaha-5, and Pradip Kumar Yadav (36) of Bardibas Municipality are undergoing treatment at Shuva Swastik Hospital, Bardibas.

Although both bike riders were taken to hospital after the accident, they breathed their last during the treatment.

Police said that they are looking into the incident.

Prime Minister Pushpa Kamal Dahal has called upon relevant authorities to seek the middle-way for finding a solution to the ongoing disputes concerning trunk and dedicated electricity line tariffs.

In a discussion held at the Office of the Prime Minister and Council of Ministers today, the Prime Minister underlined the need of creating a situation where the Nepal Electricity Authority (NEA) can recover its dues, and industries can resume operations promptly.

He suggested considering the directives of the Commission for the Abuse of Authority and various committees under the federal parliament while exploring ways for sorting out the matter. He stressed on the need of seeking opinions from the Office of the Attorney General in reaching a conclusive decision, urging relevant bodies to explore alternative ways for resolving the matter.

During the meeting, Minister for Energy, Water Resources, and Irrigation, Shakti Bahadur Basent, assured that the government is actively working to resolve the issue based on available facts and existing laws. He said that entrepreneurs have been given installment options to pay their dues, expressing hope that the matter will be resolved through consensus and legal consultations with the Office of the Attorney General.

Similarly, Minister for Industry, Commerce, and Supplies, Ramesh Rijal, who was also present in the meeting, appealed to the government to facilitate finding solutions to the genuine concerns of industrialists. The Ministry is coordinating efforts to establish common ground for the restoration of industrial operations, according to him.

Government Chief Secretary Dr Baikuntha Aryal was of the view of seeking solutions in accordance with decisions made by the Electricity Regulatory Commission and existing laws and working procedures.

Nepal Electricity Authority (NEA) Managing Director Kulman Ghising briefed the meeting about NEA's priorities, duties, and future plans.  He assured that the disputes regarding trunk and dedicated power lines would be addressed positively." The NEA anticipates reaching a concrete decision in consultation with the Electricity Tariff Fixation Commission."

National Planning Commission Vice Chair Dr Min Bahadur Shrestha and Energy Secretary Gopal Prasad Sigdel, among others were present in the meeting.

The Nepal Stock Exchange (NEPSE) gained 36.57 points to close at 2,059.49 points on Monday.

Similarly, the sensitive index surged by 4.27 points to close at 377. 28 points.

A total of 13,709,276-unit shares of 309 companies were traded for Rs 4. 67 billion.

Meanwhile, Singati Hydro Energy Limited, Modi Energy Limited, Trishuli Jal Vidhyut Company Limited and Muktinath Krishi Company Limited were the top gainers today, with their price surging by 10. 00 percent.

Likewise, Narayani Development Bank Limited was the top loser as its price fell by 5.46 percent.

At the end of the day, total market capitalization stood at Rs 3. 23 trillion.

Most of us know him as Bir Kaji aka B.K from the 2014 film Kabaddi starring Dayahang Rai, Nischal Basnet, and Rishma Gurung in leading roles. In 2015, he acted in Kabaddi Kabaddi, the sequel of Kabaddi, for which he was nominated for best actor in a comic role. His most recent film ‘Jaari’ became one of the highest-grossing Nepali films. Bijay Baral, who made his movie debut in 2013 with Chhadke, is known for his impeccable comic timing and his ability to emote through his expressions. In a conversation with Cilla Khatry of ApEx, Baral spoke about his love for acting, the things he has learned in his journey as an artist, and how being a sidekick works to his advantage. 

What do you think is the importance of stories in our society? 

Stories are important to change how people think and perceive things. Everyone has a story and every story will resonate with someone, somewhere. Every society has different forms of storytelling, be it theater, movies, literature, etc. In Nepal, I believe the most important form of storytelling is conversations that happen in public spaces, especially in rural areas. 

Sometimes, I go to Patan Durbar Squares and see elderly men and women engrossed in heated debates or whispered chats. Sharing your experience and emotions is the most impactful form of storytelling. Another great form of storytelling that makes people think and introspect is forum theater as it engages spectators to take the story forward and even change its course. 

How has Nepali cinema and theater evolved over the years? 

As someone who has spent 15 years in theater and 10 years in cinema, I believe Nepali theater and cinema both have a lot of potential. We are investing in good scripts and telling relevant stories. Nepal is rich in culture and language and that brings diversity to our narratives. Filmmakers like Nabin Subba, Deepak Rauniyar, Abinash Bikram Shah, and Min Bham are paving the way for global recognition. There is a lot of effort being put into making good cinema. 

Theater too has evolved given the limited infrastructure and resources. Many theater groups are doing amazing work. Mandala Theater recently sent 16 students, on a fully-funded program, to conduct theater classes, workshops, and stage shows all over Nepal. When Shabana Azmi was in Nepal, she was surprised to see how wonderfully theaters were operating in Nepal. We are doing the best we can with what we have. 

As an artist, how do you prepare for a role? Who is your role model? 

When I started, I didn’t understand acting. I thought I was acting in every role. I thought I was a good actor. But as time went by, you could say it gave me the maturity to understand what acting requires. Now, I focus on the character and try to understand it as much as I can through research and study. I want to comprehend the character’s psychology, emotions, traits, and behavior patterns before I start a role. 

As far as role models are concerned, I mostly take inspiration from Bollywood actors who do the kind of roles I do or with whom I seem to have physical similarities. The works of actors like Nana Patekar and Irfan Khan have taught me a lot. But I generally don’t like the idea of having a role model and aspiring to be like someone because that way you lose your unique identity. You become a replica of someone else.

What has been the biggest challenge for you as an actor and how have you overcome it?

I’m not well-versed in different cultures and that limits the kind of characters and roles I can take up. Sometimes, my personality also poses a challenge. For instance, in Dimag Kharab I took on an aggressive role. Not only was it different from the kind of fun-loving characters I usually portray, but it was also the opposite of how I am in real life. So, I had to work hard to be believable. The only way to overcome challenges in acting, I believe, is by not taking yourself too seriously as an actor. I try to be a director’s actor when I’m shooting for a film because cinema is a director’s vision. 

What are some of the lessons you have learned in your journey? What do you consider to be your valuable skills? 

The most valuable lesson I have learned is not to be overconfident and overambitious. While confidence and ambitions are nice, too much of either, I believe, will lead to your downfall. It will make you narcissistic and you will lose the ability to think critically. I have learned that as an actor you must be ready to work hard but you mustn’t have a lot of expectations on how the audience will perceive you or your work. All you can do is be honest and true to yourself and your craft. 

I’m someone who likes to talk. I enjoy talking to people. This makes me approachable and, if I might say so myself, likable to a certain extent. Professionally, I think it works in my favor and I consider it an asset. On a personal level, I’m not sure my wife appreciates it very much. She fears I will say random things and offend people (laughs).

Talent or training, which of these two factors is more important to be an actor?

Training prepares you. It gives you the confidence to get on stage or in front of the camera. Back in my village, before I got into acting, I would do caricature. I had a flair for it. But my talent would not have gotten me this far if I hadn’t undergone several acting workshops and courses after I came to Kathmandu. Training gives you the techniques required to become a good actor. Acting is reacting and, for that, you need to observe what’s going on, be emotionally ready to respond, and do that in character. Training teaches you all that and more. Training will also help you transition from one character to another with ease. 

How do you react to criticism? 

I’m human so when someone criticizes my work, especially when I’ve worked hard for a role, I get hurt and a little offended. A little part of me gets angry even though I don’t show it. But I realize feedback is necessary if I want to grow as an actor. I’m generally not the main character in a play or a movie. So, I’m usually not targeted by trolls or receive hateful comments. But there have been times when people haven’t appreciated my work and have told me never to do certain roles again. I’ve taken it in my stride. Comments, both good and bad, can be motivational. I try to channel them into good energy that I will then pour into my next project. 

Do you enjoy reading? 

I prefer reading short stories to long novels. They cater to my imagination. I find I can conjure up images clearly in my head when I’m reading a short story rather than when I’m reading longer fiction. Honestly, I read more scripts than books, and script reading takes time and dedication. But I love Upendra Subba’s poetry and constantly find myself picking up his works. But I must admit that I’m a bit lazy and that I could and should read more.

What projects are you working on next? 

I can’t say for sure which movies I will be a part of but I’m reading a lot of scripts and trying to decide which projects to take on. I have been fortunate enough to have a lot of movie offers come my way. It gives me the boost I need to keep working. One thing I’m trying to do more of this year is theater. We will soon be going to the National School of Drama in New Delhi, India, with a play that’s being directed by Bijay Karki. I’ll also be involved in quite a few plays being produced by Mandala Theater because I want to hone my acting skills and theater is the best way to do that.