Submit your Article

The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) remained Rs 108.49 billion in mid-September 2022. As of mid-September 2022, the outstanding concessional loan is Rs 213.23 billion extended to 147,926 borrowers. Of which, Rs 139.67 billion has been extended to 60,302 borrowers for selected commercial agriculture and livestock businesses, the Central Bank stated in the Current Macroeconomic and Financial Situation Report released in October. The Report is based on two months' data ending Mid-September, FY 2022/23. Likewise, Rs 70.10 billion loan has been extended to 84,790 women entrepreneurs. Total 2,834 borrowers have availed Rs.3.46 billion concessional loan in other sectors. Business continuity loan has been extended to the Covid-19 affected tourism, cottage, small and medium industries for payment of salaries to workers and employees in line with 'Business Continuity Loan Procedure, 2020'. The outstanding loan extended under this provision is Rs. 0.90 billion as of mid-September 2022. Inter-bank Transaction In the review period, BFIs interbank transactions amounted to Rs 647.59 billion including Rs.580.52 billion inter-bank transactions among commercial banks and Rs 67.06 billion among other financial institutions (excluding transactions among commercial banks). In the corresponding period of the previous year, such transactions were Rs.648.31 billion including Rs.557.30 billion among commercial banks and Rs.91 billion among other financial institutions (excluding transactions among commercial banks). Interest Rates The weighted average 91 days treasury bills rate remained at 9.09 percent in the second month of 2022/23, which was 3.98 percent in the corresponding month a year ago. The weighted average inter-bank transaction rate among commercial banks, which was 4.75 percent a year ago, increased to 8.50 percent in the review month. The average inter-bank rate of BFIs, which is considered as the operating target of monetary policy, stood 8.50 percent in the review month. Such a rate was 4.68 percent a year ago. The average base rate of commercial banks increased to 10.01 percent in the second month of 2022/23 from 6.89 percent a year ago. Weighted average deposit rate and lending rate of commercial banks stood at 7.81 percent and 12.06 percent respectively in the review month. Such rates were 4.92 percent and 8.57 percent respectively a year ago. Merger and Acquisition After the introduction of merger and acquisition policy aimed at strengthening financial stability, the number of BFIs involved in this process reached 247 as of mid-September 2022. Out of which, the license of 179 BFIs was revoked thereby forming 68 BFIs. Financial Access Of the total 753 local levels, commercial banks extended their branches at 752 levels as of mid-September 2022. The number of local levels having commercial bank branches was 750 a year ago. The total number of BFIs licensed by NRB remained 125 in mid-September 2022 (Table 5). As of mid-September 2022, 26 commercial banks, 17 development banks, 17 finance companies, 64 microfinance financial institutions and 1 infrastructure development bank are in operation. The number of BFIs branches reached 11,585 in mid-September 2022 from 11,528 in mid-July 2022.

Forty-nine people have died and 25 are still missing due to the monsoon-induced disasters and road accidents in Karnali Province in the second and third week of October. Seventy-four persons were injured in various disaster-related incidents in the province. The highest casualties were reported in Jumla and Mugu due to the disasters triggered by incessant rains in the second and half of the third week of October, said Krishna Bahadur Rokaya, Disaster Contact Person at the Karnali Province Government's Ministry of Internal Affairs and Law. He gave this information in the Disaster Response Review and Earthquake Scenario discussion program organized here on Sunday. "Ten persons each died in Jumla and Mugu, nine in Kalikot, eight in Humla, two in Dolpa and one in Dailekh," he said, adding that the number of persons missing in disasters has reached 18 in Kalikot, three in Dailekh and one each in Jumla, Humla, Dolpa and Rukum Paschim. No human casualties due to disasters have been reported in Surkhet district in the month of Shrawan, Bhadra and Ashoj (July 17 to October 17) in the current fiscal year 2022/23. As per the data shared by the Ministry, 20, 794 families have been displaced due to the disasters in the province. Among them, 7,418 are from Kalikot and 5,282 are from Mugu. Similarly, 33 persons lost their lives to road accidents, one person died due to lightning and two persons due to frostbite in the province. The preparedness and response plan greatly assisted in the search and rescue works during the disasters, said Dinesh Sagar Bhusal, Secretary at the Ministry.

The European Union in Nepal is to collaborate in increasing participation of women in football in Karnali Province. This issue came up in a meeting between EU in Nepal's Charge d'affaires, Joëlle Hivonnet, and Mayor of Birendranagar Municipality, Mohan Maya Dhakal on Sunday. On the occasion, Hivonnet said that collaboration has been started through a non-governmental organization for EU's investment to increase women's participation in football and in promoting women's football in Karnali Province. "Investment would be scaled up for training women football players and their career development. This will boost self-confidence in women. We are confident this will increase women's attraction towards football," the EU Delegation's top official said. Hivonnet is in Surkhet in connection with the inauguration of the 11th edition of the Nepal European Union Film Festival here. During the meeting, Hivonnet talked on the projects the EU has implemented in Nepal, especially in Karnali Province, the future plans, women empowerment and inclusion, among other topics. She said an agreement has been reached recently with the Government of Nepal for running a project on gender empowerment. During the meeting, Mayor Dhakal informed about the activities carried out by the Municipality regarding women empowerment and women health and protection. She mentioned the skill development training provided to women, free distribution of sanitary pads from health posts, free medical examination to pregnant women and gynecological services. She said these programs have helped in increasing income generation of women and in protecting women's health. She thanked the EU for focusing on women participation and empowerment.  

Lalitpur district has a total of 131 polling stations and 290 polling centers for the upcoming elections to the House of Representatives and the Province Assembly. Similarly, there are two temporary polling stations. There are a total 250,410 eligible voters in the district. Security arrangements under the leadership of CDO Jaya Narayan Acharya have been made to hold the polls in a fearless, fair and impartial way, said Senior Superintendent of Police Binod Pokharel.

President Bidya Devi Bhandari is scheduled to deliver a keynote speech in the Reykjavík Global Forum taking place in Reykjavík, Iceland, on 8-10 November 2022. President Bhandari is leaving for Iceland tomorrow to attend the Reykjavík Global Forum – Women Leaders, co-hosted by Women Political Leaders (WPL), the Government of Iceland, and the Parliament of Iceland, according to the Ministry of Foreign Affairs. Women Political Leaders (WPL) has decided to confer this year the prestigious WPL Trailblazer Award on President Bhandari. The Award is presented to incumbent and former women Presidents and Prime Ministers in recognition of the achievements of the leading women politicians. During the visit, the President is scheduled to receive the Award and deliver an acceptance speech. Nepali delegation accompanying the President will include senior officials from the Office of the President and the Ministry of Foreign Affairs. President Bhandari will return to Nepal on 12 November, 2022.

Chief Election Commissioner Dinesh Kumar Thapaliya today said the upcoming elections to the House of Representatives would be organized in a free, fair and peaceful environment. The EC was effortful to ensure that the vote would not be affected due to security reason and vested interests of any contesting political parties or candidates. "Re-election would not take place except in case of natural disasters affecting the polls. Those contesting parties or candidates trying to affect the vote would face action as per the laws," he said at an event with the theme of 'effective implementation of the election code of conduct and role of stakeholders' organized today in Birtamod of Jhapa district jointly by the EC and the Nepal Law Society. The EC has launched various awareness campaigns across the country and it is effortful to stop election-related misleading and fake news and information, and hate speeches on social sites, in a bid to create awareness about elections and voting, he said. The program was attended by also the chief returning officer Chandra Mani Gyawali, Chief District Officer Chhabi Rijal, police chief Bishwo Mani Pokharel, office bearers of the Nepal Bar Association, election candidates and chairs and representatives of district political parties and civil society.

Nepali Congress spokesperson Dr Prakash Sharan Mahat has said that a stable government would be formed under the Nepali Congress (NC)'s leadership after the November 20 elections. "A government under the NC's leadership is necessary to give impetus to the development process stalled since long and also for Nepal's prosperity; and this type of government would be formed after the upcoming elections," the NC spokesperson said while addressing a news conference in Mahendranagar today. Stating that the main spirit of the constitution was being assaulted upon in various forms and 'regressive elements' were trying to become active under different pretexts, he said the Nepali people themselves had wanted the present government. The NC spokesperson said, "Even now, we need to protect the constitution and develop the country. A government led by the NC is needed to fulfill this responsibility. This election would prove to be a milestone for all in this connection." He asserted that a stable government would be formed in the nation after the election and the alliance of the present ruling coalition partners will get a clear majority in the election. He claimed that the NC will become the first party in terms of the number of seats in the parliament after the election. Spokesperson Mahat also said the percentage of the NC's votes under the proportional category will also increase in the upcoming election. "The alliance was formed among the ruling coalition partners as they have a common aim. This coalition will form a government even after the election and unleash a wave of development in the country."

Prime Minister Sher Bahaudur Deuba, who has been in his home district for the past four days in view of the election campaign, is scheduled to address two election-centered gatherings here today. The Nepali Congress President is contesting in the election to the Member of the House of Representatives from Dadeldhura and he has been here since Thursday. Prior to this, he addressed the election gathering at Amargadhi, Ganyapdhura, Nawadurga and Ajaymeru rural municipalities. He will be addressing the mass meeting at Godam of Alital rural municipality and Jogbudha of Parshuram Municipality today, according to NC Dadeldhura President Bheem Bahadur Saud. He will be returning to Kathmandu today itself. As the Prime Minister's Chief Private Secretary Bhanu Deuba said, the Prime Minister will be reaching all seven provinces to address the election mass meetings. The voting for the HoR and the Province Assembly elections is taking place simultaneously on November 20.