Submit your Article

Nepali students are rapidly becoming a significant presence in the international education landscape, according to a new report by ApplyBoard, an international student mobility platform. The study reveals that Nepali students have shown impressive growth across key study destinations, including Canada, the US, the UK, and Australia. The report highlights that Nepal is emerging as a major player in the international education sector, joining countries like India, Nigeria and the Philippines.

In 2023, nearly 45,000 Nepali students received post-secondary student visas to these four English-speaking countries, marking a 15 percent increase from the previous year and a 121 percent rise since 2018. This growth underscores Nepal’s increasing prominence as a source of international students and indicates that the country is poised to play a significant role in global education in the coming decade, says ApplyBoard.

Nepali students have shown a strong desire to study abroad, with 19 percent of tertiary-level students studying internationally in 2021. This is notably higher compared to India and China, which had ratios of 1.3 percent and 1.9 percent, respectively. Over the past five years, Nepal has had one of the highest outbound mobility ratios globally, with many students in the 18 to 25 age group. The country’s growing economy, projected to expand at an average rate of 5 percent in 2025 and 2026, could further drive this trend.

In 2023, nearly 16,000 Nepali students received Canadian student visas, representing over three percent of all Canadian study permits that year, a significant increase from 0.2 percent in 2018. The number of study permits for Nepali college students tripled from 2022 to 2023, with strong growth observed at the undergraduate and postgraduate levels. Nepali applicants using ApplyBoard had a 75 percent approval rate for Canadian student visas for Winter 2024.

From Oct 2023 to June 2024, 9,200 Nepali students were issued US student visas, a 61 percent increase from the total number issued in 2023. Data from the Institute of International Education indicate that 70 percent of Nepali students in the US during the 2022-23 academic year pursued STEM programs.

Over 8,500 Nepali students received UK student visas in 2023. Despite a 22 percent decrease in overall student visa issuance in the UK for international students in the first quarter of 2024, Nepali student visas increased by 27 percent. Nepal has traditionally had a lower ratio of dependents to main applicants for student visas compared to countries like India and Nigeria. The median age of Nepali students approved for UK student visas in 2024 was 21, with younger students less affected by recent UK policy changes regarding dependents, says ApplyBoard.

Australia experienced a record number of visas granted to Nepali students in 2022 following a two-year border closure. However, the high demand in 2022 resulted in a 33 percent decline in visas in 2023. Vocational education and training (VET) studies saw the most significant decrease, partly due to restrictions imposed by the Nepali government on non-degree programs and changes in Australian policy, as per the ApplyBoard report. From January to June 2024, 55 percent of student visas granted to Nepali students in Australia were for New South Wales, compared to 34 percent for the overall international student population.

The price of gold has increased by Rs 2, 100 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 150, 800 per tola today.

Similarly, the price of silver has increased by Rs 25 and is being traded at Rs 1,740 per tola today.

Visiting Foreign Secretary of India Vikram Misri paid a courtesy call on Deputy Prime Minister and Minister for Urban Development Prakash Man Singh on Monday.

During his second and last day of the two-day official visit to Nepal, the Indian foreign secretary visited the DPM at the latter's office in Singha Durbar to discuss matters concerning urban development, waste management, restoration of cleanliness of Bagmati and Bishnumati rivers, and other sanitation-related issues. They exchanged views on the possibility of collaboration between the two countries in addressing these issues.

Taking reference to the ongoing Swachh Bharat (Clean India) Mission and the efforts to clean up the Ganga river in India, the Deputy Prime Ministers said India's experiences in such efforts and technology used towards that end would be useful for Nepal. He called on India to collaborate with Nepal for the same.

Apprising the Indian foreign secretary for the inconveniences facing the Nepali citizens in trans-border movement between Nepal and India, the minister said Nepal wanted India's facilitation to construct a suspension bridge over the Mahakali River, according to the Secretariat of Deputy Prime Minister Singh. 

He thanked the Government of India for its support to Nepal's infrastructure development, during the earthquake and COVID-19 pandemic.

The meeting also focused on exploring potential support from India to Nepal's urban development sector, according to Urban Development Ministry's secretary Maniram Gelal.

During the meeting, Nepal proposed India facilitate construction of bridges in rivers along the Nepal-India border to implement Nepal's mission to replace tuine (rope bridges), he said. The Indian side is positive, he added.

The foreign secretary said India is always with Nepal in its endeavors aiming to achieve peace, stability, and prosperity.

He arrived in Kathmandu on Sunday at the cordial invitation of Foreign Secretary Sewa Lamsal.

The government has started preparation to form an authority for the supervision and regulation of financial cooperatives. The Ministry of Land Management and Cooperatives has drafted the Financial Cooperative (Regulation and Supervision) Act, 2024, proposing the creation of an authority responsible for licensing, regulating, and supervising financial cooperatives that mobilize deposits from the public and disburse credit.

The law, currently in the drafting phase, grants the authority the power to determine minimum capital requirements for financial cooperatives, issue licenses, classify cooperatives, and conduct monitoring and supervision, among others.

The government, through the budget for the fiscal year 2024/25,  announced its intent to create a separate body for the supervision and regulation of financial cooperatives. The ministry drafted the law in line with this intent, an official of the ministry said. According to the official, the authority will be an autonomous institution governed by a seven-member board, with the chairperson appointed by the government.

As per the draft law, cooperatives with transactions exceeding Rs 50m, capital over Rs 15m and individual savings above Rs 1m must obtain a license from the authority. Cooperatives that are already in operation are also required to obtain a license from the authority once it becomes operational.

The draft law also proposes classifying financial cooperatives into three categories based on share capital, the nature of transactions, and the operational area. It allows the authority to determine the minimum capital floor for financial cooperatives.

Currently, federal, provincial, and local governments have the power to register and regulate cooperatives based on their transactions, operational areas, and nature of business.

The government began preparations to form a powerful institution for the supervision and regulation of cooperatives after cooperative promoters misused people's deposits, taking advantage of the lack of regulatory oversight.

A committee formed by the government last year recommended regulating cooperatives with large transactions through Nepal Rastra Bank (NRB) as an immediate measure and forming a powerful authority in the long run. Although parliament amended the Nepal Rastra Bank Act, 2001, to pave the legal way for the central bank to regulate large cooperatives, the central bank has been slow to act.

The International Monetary Fund (IMF) has also expressed concern about savings and credit cooperatives, stating that a social unrest could be triggered if the ongoing problems are not dealt with soon. “A combination of large data gaps, weak governance, unsound credit and liquidity risk management, and a lack of licensing, effective regulation, monitoring, and supervision has resulted in the failure and closure of multiple cooperatives,” the IMF said in its review of Nepal under the Extended Credit Facility (ECF) arrangement.

Stating that a proper licensing process hasn’t been established under the current regime, the IMF suggested that licensing of savings and credit cooperatives is necessary for both existing and new entities.

The Nepal Stock Exchange (NEPSE) gained 70.81 points to close at 2,931.65 points on Monday.

Similarly, the sensitive index surged by 10.56 points to close at 512. 47 points.

A total of 64,876,217-unit shares of 339 companies were traded for Rs 27. 24 billion.

Meanwhile, SuryaJyoti Life Insurance Company Limited (SJLIC), Himalayan Life Insurance Limited (HLI), Joshi Hydropower Development Company Ltd (JOSHI), RASUWAGADHI HYDROPOWER COMPANY LIMITED (RHPL) and Swet-Ganga Hydropower & Construction Limited (SGHC) were the top gainers today, with their price surging by 10. 00 percent.

Likewise, Kutheli Bukhari Small Hydropower Limited (KBSH) was the top loser as its price fell by 10.00 percent.

At the end of the day, total market capitalization stood at Rs 4. 65 trillion.

Indian Foreign Secretary Vikram Misri, who is on a two-day official visit to Nepal, paid a courtesy call on Foreign Minister Arzu Rana Deuba at the latter’s office in Singha Durbar on Monday.

Various aspects of bilateral relations as well as economic and development assistance and projects among others were discussed in the meeting.

On the occasion, Minister Rana through visiting Foreign Secretary Misri raised the issue of the availability of more air routes to Nepal to increase Nepal-India 'air connectivity' with India.

She also urged India to take initiatives to establish a laboratory for testing the quality of vegetables and fruits imported through the border areas of Nepal and India.

Minister Rana also raised the issue of taking the remaining works of Pancheshwor Project ahead in the meeting.

Similarly, she through Foreign Secretary Misri also urged India to provide necessary help to release water of  Tanakpur Dam into the canal and to control and reduce the risk of floods in Bandganga, Khando and Rapti rivers.

Minister Rana also raised the issue of inaugurating the bridge of Darchula.

Sher also discussed the issues of giving continuity to the dialogue on trade and transportation.

The minister thanked the India government for its support in rescuing and providing relief to the earthquake victims of Jajarkot.

The Indian Foreign Secretary arrived in Kathmandu at the invitation of Foreign Secretary Sewa Lamsal on Sunday.

Visiting Foreign Secretary of India Vikram Misri paid a courtesy call on Finance Minister Bishnu Prasad Paudel at the latter's office in Singha Durbar today.

On the occasion, they discussed various topics, including economic and development cooperation, expediting the construction of ongoing projects and the mutual relations between the two countries.

The Indian Foreign Secretary arrived in Kathmandu on Sunday in the course of a two-day visit to Nepal at the invitation of Foreign Secretary Sewa Lamsal.

Foreign Secretary Misri paid separate courtesy calls on President Ram Chandra Paudel, Prime Minister KP Sharma Oli, Nepali Congress President Sher Bahadur Deuba and CPN (Maoist Center) Chairman Pushpa Kamal Dahal on Sunday itself.

The price of gold has dropped by Rs 100 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 148, 700 per tola today. It was traded at Rs 148, 800 per tola on Sunday.

Similarly, tejabi gold is being traded at Rs 148, 000 per tola.

Meanwhile, the silver is being traded at Rs 1,715 per tola today.