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The price of gold has increased by Rs 3, 000 per tola in the domestic market on Friday. 

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 184, 800 per tola today. It was traded at Rs 181, 800 per tola on Thursday.

Similarly, the silver is being traded at Rs 1, 945 per tola today.

The Nepal Stock Exchange (NEPSE) plunged by 8. 41 points to close at 2, 611. 85 points on Thursday.

Similarly, the sensitive index dropped by 1. 44 points to close at 440. 00 points.

A total of 17,423,943-unit shares of 320 companies were traded for Rs 7. 08 billion.

Meanwhile, Om Megashree Pharmaceuticals Limited (OMPL) was the top gainer today with its price surging by 9. 99 percent. Likewise, Corporate Development Bank Limited (CORBL) was the top loser with its price fell by 8. 65 percent.

At the end of the day, the total market capitalization stood at Rs 4. 34 trillion.

Mahendranagar has been developed into a modern city with the support of Rs 1bn. As part of the transformation, the streets in the Mahendranagar market area have been expanded to eight meters wide, with each street featuring disabled-friendly pedestrian paths and dedicated bicycle lanes. A drainage system has also been installed.

To enhance the city’s beauty and organization as per the master plan, Bhimdatta Municipality upgraded Mahendranagar market. In the first phase, 14 kilometers of roads were blacktopped with a total investment of Rs 1bn, said Pawan Lekhak, Sub-engineer of Bhimdatta Municipality.

According to Lekhak, the project has also added 22 kilometers of drainage, four kilometers of railings, 776 streetlights, and 8 high-mast lights. Cycle lanes and disabled-friendly pedestrian paths have been integrated across the market, while parks have been developed at various locations to enhance urban aesthetics. Electric poles and telephone wires have been relocated to the backs of the streets, and designated parking areas have been created.

“The first phase of work has been completed, though the construction company is currently carrying out repairs in a few places where issues have been reported,” said Lekhak. He added that the municipality is preparing to begin the second phase of the project, for which an additional Rs 660m to blacktop eight kilometers of roads and install 10 kilometers of sewerage has been approved.

Local businesses believe the continued development of the market could turn it into a tourist attraction. Local tourism entrepreneur Jagadish Chandra Bhatta said the organized layout, disabled-friendly sidewalks, and cycle lanes have enhanced both the beauty and business potential of the market.

Mahendranagar’s five distinct streets, each with unique features, have also become a point of interest for visitors. Local businessman Krishnananda Bhatta noted that burying electric poles and wires and improving greenery and lighting would further enhance the market’s charm.

However, concerns over encroachment have recently emerged. “Encroachment has started to affect the market area. The municipality must address this issue to preserve its beauty,” said local resident Indra Sau, also urging authorities to beautify the parks.

Named after King Mahendra, who founded the market, Mahendranagar’s five main streets each have a distinct identity and commercial character. Street No 1 is dominated by medical and hardware stores, while Street No 2 features banks, printing houses, electronics, and grocery shops. Street No 3 also has a concentration of medical shops, along with a few hotels and banks. Street No 4 is lined with hotels, medical stores, and banks. Street No 5, also known as Campus Road, is the busiest of all, home to numerous bookstores and banks, making it the most crowded and commercially vibrant area in the market.

The stretch from Madan Chowk to the Bus Park, known as the “Special Line,” is considered a prime commercial zone with fancy shops and a public stage that hosts events and sports. A Mahendra Memorial lies at the heart of this area, which also features free drinking water and greenery for beautification.

With its proximity to major Indian industrial cities and its expanding commerce, Mahendranagar has emerged as a key commercial hub, with business activity reaching both highways and nearby rural areas.

Most commercial banks in the country have kept interest rates on individual fixed deposits unchanged for the month from mid-May to mid-June, reflecting caution amid a complex financial landscape. The average interest rate on individual fixed deposits for Jestha dipped slightly by 0.02 percentage points to 5.95 percent compared to April, while institutional fixed deposits saw a marginal increase of 0.01 percentage to 4.37 percent.

Although credit demand is gradually picking up in recent months, banks, which are sitting on substantial loanable funds, are still grappling with a liquidity crisis. The central bank’s decision to raise Rs 35bn through a 21-day deposit auction to mop up excess liquidity from the banking system on Wednesday shows that the liquidity crisis is showing no signs of easing. Subdued credit demand due to sluggish economic activity has limited opportunities for banks to deploy these funds effectively.

Among 20 commercial banks in the country, Everest Bank, Nepal Bank, Kumari Bank, Siddhartha Bank, Sanima Bank and Nepal Investment Mega Bank (NIMB) have changed their interest rates for Jestha. While Everest Bank, Nepal Bank and Sanima Bank have raised their rates slightly, Kumari Bank, Siddhartha Bank and NIMB have reduced their rates.

Everest Bank has raised individual fixed deposit rates by 0.03 percentage points to 6.64 percent and institutional rates to 5.64 percent. Similarly, Nepal Bank increased individual rates by 0.30 percentage points to 5.45 percent but kept institutional rates unchanged. Sanima Bank revised its individual fixed deposit rates upward by 0.38 percentage points to 6.33 percent and institutional rates by 0.30 percentage points to 4.50 percent.

 Kumari Bank on the other hand trimmed its rates by 0.01 percentage points, setting individual fixed deposits rate at 5.91 percent and institutional deposits rate at 4.91 percent. Siddhartha Bank also cut its rates on fixed deposits by 0.25 percentage points, offering 5.75 percent for individuals and 4.75 percent for institutions. NIMB made the steepest reduction, slashing individual fixed deposit rates by 1 percentage point to 5.5 percent and institutional rates by 0.06 percentage points to 4 percent.

Nepal Bank has kept its institutional fixed deposit rate, but raised its individual fixed deposit rate by 0.30 percentage points to 5.45 percent.