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Finance Minister Bishnu Prasad Paudel has said the Bill to amend the Banking Offense and Punishment Act-2064 BS has been registered in the parliament.

He said the Bill aims to make investigation, prosecution and punishment against the banking offense including the case of cheque bounce more systematized and effective.

In his address to a meeting of the Finance Committee, House of Representatives (HoR), today, he said reports regarding banking frauds including cheque are on the rise.

The finance minister apprised the meeting that the Bill has prioritized the provision of fine in cases relating to banking fraud including the cheque bounce.

Putting his view in the meeting, lawmaker Dr Swarnim Wagle proposed to prioritize the provision of fine instead of jail sentence in case of banking fraud. He said such provision has been in global practice as well, underlining the need to conclude the Bill soon.

Another lawmaker Padam Giri alleged of a negligible legislative role of the parliament, leading to the pending of numerous bills in the Committee.

The Bill was registered by the then Finance Minister Dr Prakash Sharan Mahat on September 2, 2023.

It is said the government realized the need to amend the Act bearing in mind the need of different legal treatment to cases of cheque bounce, the order from the Supreme Court to maintain uniformity in the legal approach to the case and the assessment of the Office of the Attorney General.

The Bill proposed that if the account holder does not have sufficient deposits in the bank for payment as demanded by a cheque, such cheque be returned to the bearer.

If the bearer wants to prove it is a case of cheque bounce, the respective bank should inform the account holder to make sure the deposits of the amount sufficient for the payment as demanded by the cheque by not exceeding 30 days.

It has warranted any account holder not to issue a cheque requesting for the payment exceeding the deposit amount.  The procedures to establish the case of a cheque bounce will be initiated if the demanded amount is not deposited in the bank by the next 30 days.

The existing Banking Offense and Punishment Act incorporates the provisions for fine and an imprisonment up to three months if a cheque is bounced. However, the proposed bill has a provision that an issuer of a cheque will be required to pay five percent of a due amount in fine to the check bearer including imprisonment on the basis of the amount mentioned in the cheque if the cheque is proved to be bounced.

In case of a due amount up to Rs 500, 000 imprisonment up to one month has been proposed, it has been proposed up to six months in case of the amount ranging from Rs one to five million and up to two years for amount over five million.  The Bill proposed the provision allowing the registration of a case at the respective District Court within the three months if the case of cheque bounce is proved.

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit scheduled to be held in Thailand on September 4-5 has been postponed.

The summit was postponed due to the change of prime minister in Thailand and internal conflict in Thailand and Myanmar.

According to a source at the Foreign Ministry, the BIMSTEC member countries have been verbally informed about the postponement of the BIMSTEC Summit scheduled to be held in Thailand.

The Foreign Ministry, however, said that the official letter is yet to be received.

BIMSTEC member countries include Nepal, India, Bangladesh, Sri Lanka, Bhutan, Myanmar and Thailand.

Prime Minister KP Sharma Oli was preparing to attend the summit.

Paetongtarn Shinawatra was appointed as the Prime Minister of Thailand after the constitutional court removed Prime Minister Srettha Thavisin from the office on August 14.

Muhammad Yunus was appointed as the Prime Minister of Bangladesh after Prime Minister Sheikh Hasina tendered her resignation.

The head-of-the-state of all the countries were preparing to attend the meeting.

BIMSTEC was formed in 1997 with the aim of promoting trade and cooperation among South and Southeast Asian countries.

The vehicle that plunged into the Sunkoshi river on Saturday has been found at 2 am today.

The Hilux SUV (Province 3-01-023 Cha 6366) which was heading towards Bhaktapur from Halesi of Khotang had fallen into the river at Kundule, Golanjor Rural Municipality-1 along the Mid-Hill Highway.

A team of divers from the Armed Police Force fished out the submerged vehicle from the murky river with the help of a dozer, said Superintendent of Police Govinda Raj Kafle, the Chief of the District Police Office, Sindhuli.

Kafle said that the vehicle was found 50 metres downstream from the spot it had plunged into the river.

Three people including the driver of the vehicle are still missing.

Those missing in the incident are Abin Bake (30), Pranit Syagu (30) and Balram Ghatuwa (37).

Nepal Police and APF divers along with locals are carrying out the search for the missing.

Four people were on board the SUV. Sushant Kakshapati (27), who survived after jumping out of the vehicle, has been discharged after receiving treatment at the Sunkoshi Community Hospital, Khurkot, police said.

The Nepal Stock Exchange (NEPSE) plunged by 79. 88 points to close at 2,894.57 points on Sunday.

Similarly, the sensitive index dropped by 14. 52 points to close at 519. 34 points.

A total of 42,686,640-unit shares of 333 companies were traded for Rs 19. 74 billion.

Meanwhile, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB), Upakar Laghubitta Bittiya Sanstha Limited (ULBSL) and Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) were the top gainers today with their price surging by 10. 00 percent. Likewise, Mandakini Hydropower Limited (MHL) was the top loser with its price dropped by 9. 91 percent.

At the end of the day, the total market capitalization stood at Rs 4. 59 trillion.

DIY projects can be fun, inspiring, and help you save some money. It’s also good to surround yourself with things that have memories, stories, or emotions attached to them rather than things that are store bought and don’t have anything else apart from aesthetic value. If you’re looking for ideas on how to spruce up your living room or get crafty in the kitchen, check out some of these DIY Instagram accounts. A fair warning though, you will be scrolling for hours on end if you don’t set a screen time limit for yourself before you start exploring.

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This page is filled with inspiration for picnics, adventures, great meals, parties, art, and among other things. It’s such a beautiful feed to look at too, with peppy pastel colors and gorgeous photos. You will find a lot of ideas and inspiration for throwing great parties and hosting dinners. There’s also décor and gift ideas. The owner of the page promotes simple luxuries with the focus on creating memories you will cherish. The posts inspire you to lead a slow, beautiful life. What we love about the page is the whimsical feel it has that put you in a lighter headspace.

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Meenakshi is a designer and lifestyle blogger who lives in Mumbai, India. Her Instagram page has many nifty tricks and tips to create beautiful things from items you have around the house. Learn to make a knot cushion from a throw, propagate a sweet potato, and even mix some fantastic cocktails. You will find a lot of festive décor ideas and inspiration in the page. With the festivals around the corner now, you can pick up some great tricks to entertain guests in style. There is a lot of flower play and ideas to elevate the look of simple things. Did you know you could freeze ice with pomegranate seeds to give your cocktails a fun twist? Want to learn how to make a tray from a simple painting? Behind that House has all that and more.

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If you have a child at home or even if you don’t, Paper Craft Ideas is a great page to follow. There are fun things you can do when you are bored. Learn to make fun paper umbrella toppers for your cocktails, woolen flowers for that extra vase you have lying around, and a last-minute birthday or anniversary card with random bits and bobs. Your child can use some of the ideas to give their school projects a unique touch. There’s a good reason why this page has over eight million followers. There are over 2,500 posts that make for fun little projects, for children and adults alike.

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

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 152, 400 per tola today. It was traded at Rs 151, 400 per tola on Friday.

Similarly, the price of silver has increased by Rs 35 and is being traded at Rs 1,850 per tola today. 

Six persons died and four others went missing when a landslide buried three houses at Shailung Rural Municipality-3 in Doramba, Ramechhap on Saturday night.

The deceased have been identified as Chandika Shrestha (30), her 18-month-old son Ayush, Urmila Pahari (57), Sandeep Pahari (30), Santosh Pahari (11) and Bigyan Pahari (14), according to the District Police Office.

Similarly, Anjana Shrestha (11) was injured in the incident.

The landslide occurred last night, said Rural Municipality Vice Chair Khamala Thapa Magar.

DSP at the District Police Office, Ramechhap, Pradeep Kumar Singh, said locals, police personnel and Nepal Army personnel carried out a rescue and search operation soon after getting information about the incident.

The flood also washed away a bridge of Andheri rivulet located at the border of ward 2 and 3.

Ramgopalpur Municipality-2 Ward Chairman Mukesh Kumar Yadav of Mahottari district died in a road accident.

DSP Lal Prasad Jaiswar, spokesperson at the District Police Office, Mahottari said that Yadav died when a motorbike (Lumbini Province 01-001 Pa 6362) he was riding met with an accident this morning.

His body was found near a culvert at Bardibas Municipality-8 along Jaleshwor-Bardibas road section.

Yadav was elected as ward chairperson from the CPN (Maoist Center).