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Global IME Bank has emerged as the highest taxpayer among all banks and financial institutions in Nepal for the fiscal year 2021/23.

The bank has contributed a corporate tax of Rs 3.2 billion during this period. At present the Global IME Bank holds the position of the largest bank in the country in terms of capital. It has paid-up capital of Rs 35.77 billion, the Global IME Bank said in a press release.

Established in 2007 as a commercial bank, Global IME Bank achieved this status through the merger and acquisition of 21 banks and financial institutions, including five commercial banks, 10 development banks, and six finance companies.

The bank is actively pursuing digitization and has embraced 'Vision-2025', a strategic plan aimed at doubling its business with the utilization of modern technologies and digitization.

The bank has established a nationwide presence with 350 branches, 369 ATM counters, 322 branchless units, and 64 extension counters across all 77 districts of Nepal. It has also expanded its reach internationally with representative offices in London (UK), New Delhi (India) and Sydney (Australia), maintaining three international contact points.

With a customer base exceeding 4.2 million and a workforce of more than 4,000 employees, Global IME Bank continues to solidify its position as a key player in the banking sector.

Prime Minister Pushpa Kamal Dahal has announced different programs aimed at revitalizing the economy. The programs encompass a range of actions, from aiding individuals struggling to repay loans taken from banks and financial institutions to revising bank rates in order to lower interest rates.

Dahal believes that these initiatives will instill hope among the masses by introducing reforms in the country, given that the economy is still facing pressure despite positive indicators in various sectors.

These key measures to bolster the economy were announced during a four-hour discussion about the current state of the economy and future strategies with ministers, secretaries, the governor of Nepal Rastra Bank, private sector leaders, members of parliament and economists, and others on Tuesday.

“When I assumed leadership of the government, the economy was facing serious crises. Over the last 10 months, the government has taken various initiatives which have turned economic indicators positive,” Dahal said. “However, the economy still faces challenges. Therefore, the government’s primary focus is on further enhancing the economy and fostering optimism among the people.”

The government has said that the central bank will facilitate the repayment of loans for individuals who used the funds for their intended purposes but are struggling due to an economic slowdown. Likewise, although interest rates are coming down, the government has directed the central bank to study whether the rates can be reduced further. The central bank has also been tasked with studying problems faced by individuals in repaying loans taken from microfinance institutions.

Moreover, the government has announced plans to form a dedicated agency to regulate cooperatives and create a fund to safeguard deposits in saving and credit cooperatives.

The government has also said that it is committed to enhancing the revenue structure to make it more conducive to investment and production in line with recommendations made by past studies and commissions.

Additionally, the government has said that it would expedite mega hydropower projects such as Budhgandaki, Karnali Chisapani, and Upper Arun. It has also pledged to implement recommendations made by a team of experts for the construction of Nijgadh International Airport in Bara.

Moreover, the government has expressed commitment to address challenges in the implementation of the decision to extend construction deadlines for various development projects made in the first week of June.

Furthermore, the government has said that it will initiate the process of settling outstanding dues with contractors and form a high-level commission to address overall governance issues.

Similarly, it has decided to make the the Industry and Commerce Promotion Dialogue Council, which serves as a forum for private sector and government dialogue, more active.

The gold is being traded at Rs 116, 500 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 115, 950 per tola.

Similarly, the silver is being traded at Rs 1,455 per tola today.

The Nepal Stock Exchange (NEPSE) gained 20.67 points to close at 1,850.33 points on Wednesday.

Similarly, the sensitive index surged by 2.51 points to close at 354. 21 points.

A total of 4,213,285-unit shares of 294 companies were traded for Rs 1. 08 billion.

Meanwhile, Buddha Bhumi Nepal Hydropower Company Limited was the top gainer today, with its price surging by 10. 00 percent. Likewise, Sayapatri Hydropower Limited was the top loser as its price fell by 8.15 percent.

At the end of the day, total market capitalization stood at Rs 2. 85 trillion.