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The price of gold has increased by Rs 200 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 192, 500 per tola today. It was traded at Rs 192, 300 per tola on Thursday.

Similarly, the price of silver has increased by Rs 15 and is being traded at Rs 2, 280 per tola today.

Construction of the road connecting Ramaroshan, a major tourist destination in the Sudurpaschim Province, remains incomplete seven years after work began. The delay has affected both locals and tourists, causing hardship and hampering tourism potential. 

The Infrastructure Development Office in Achham is overseeing the construction of a 68.976-kilometer road, divided into three sections: Bannigadhi Jayagadh Rural Municipality to Jayagadh-Majhthana-Gauta Khola (12.438 km), Darna-Mujabagar (38.850 km), and Mujabagar-Ramaroshan (17.688 km). Three different companies were contracted to complete the project.

Bajraguru Construction Company Pvt Ltd signed a contract in fiscal year 2018/19 to complete its section by 1 July 2022, for Rs 30m. Anak Jayadevi JV was assigned the Darna-Mujabagar section with a contract worth Rs 137m, while PS Baniya JV was contracted for the Mujabagar-Ramaroshan section for Rs 574m in 2019/20.

According to Nayan Bahadur Budha, Accounts Officer at the Infrastructure Development Office, Bajraguru has so far received Rs 236m, Anak/Jayadevi JV Rs 67.4m, and PS Baniya JV Rs 265m. However, no payments were made to PS Baniya JV in FY 2020/21 and 2024/25, Anak/Jayadevi JV in FYs 2021/22, 2023/24, and 2024/25, and Bajraguru in FY 2023/24, due to lack of progress.

Office Engineer Dipendra Thapa said that the contract deadlines for all three companies have been extended twice. Anak/Jayadevi JV’s work has been stalled since 2021/22, after a flood damaged its section. “Baniya is working now, and Bajraguru is expected to begin blacktopping in August. We’ve made repeated requests. Anak/Jayadevi JV’s variation order has been submitted to the Council of Ministers multiple times, but there has been no response. Anak had completed about 35 percent of the work, which was washed away by the 2020 flood in the Kailash River,” he said.

Under the Public Procurement (Fourteenth Amendment) Regulations 2025, contractors can apply for a deadline extension if the work could not be completed on time due to various reasons. They must submit an application detailing the incomplete work and required timeline, along with a commitment not to claim additional funds. The concerned authority is required to decide on the extension within 30 days, failing which departmental action may be taken against responsible officials.

The 18 Aug 2020 flood in the Kailash River caused extensive damage in the Ramaroshan area. Seventeen people lost their lives in Sain Bazaar, and infrastructure including roads, bridges, police stations, and hydropower plants was destroyed.

“If road access here were better, more foreign tourists could visit,” said Purna Bahadur BK, Executive Director of the Ramaroshan Area Tourism Development and Management Committee. “Physical infrastructure is key to unlocking Ramaroshan’s potential and contributing to the national economy. Even now, tourists come despite poor roads—if improved, the numbers would increase significantly.” He blamed contractor negligence for the delays.

The delay has severely impacted tourism development in the area. Jhapat Bohara, then a Provincial Assembly member from Achham-1 (B) and now a central committee member of the CPN-UML, had allocated budget for blacktopping the Jaigad-Ramaroshan road when he served as Minister for Economic Affairs and Planning in the Sudurpaschim Provincial Government.

The Nepal Stock Exchange (NEPSE) gained 79.82 points to close at 2,874.60 points on Thursday.  

Similarly, the sensitive index surged by 11.83 points to close at 501. 10 points.

A total of 38,634,350-unit shares of 311 companies were traded for Rs 16. 59 billion.

Meanwhile, Trade Tower Limited (TTL) was the top gainer today, with its price surging by 10. 00 percent. Likewise, NIBL Stable Fund was the top loser as its price fell by 7.58 percent.

At the end of the day, total market capitalization stood at Rs 4. 78 trillion.

Commercial banks have further lowered their interest rates on deposits. A study of the interest rates for the month of Shrawan (mid-July to mid-August) published by the Class ‘A’ banks shows the average interest rate on individual fixed deposits has decreased by 0.2 percentage points.

Out of the 20 commercial banks in the country, 14 have reduced their maximum deposit rates, while four have kept them unchanged and two have made a slight upward revision. Standard Chartered Bank Nepal Ltd offers the highest interest on deposits, while Prabhu Bank offers the lowest. Standard Chartered and Himalayan Bank are the only two banks that have raised their deposit rates for the next month. Machhapuchchhre, Global IME, NMB and Siddhartha Bank, on the other hand, have left their interest rates unchanged.

Nine commercial banks are offering individual fixed deposit rates of six percent or higher. Standard Chartered leads with the highest rate at 6.26 percent, followed by Everest Bank and NIC Asia at 6.25 percent each. Sanima Bank is offering 6.18 percent, while Machhapuchchhre, Prime Commercial, Global IME, and NMB Bank are each offering 6 percent

Similarly, ten banks are offering individual fixed deposit rates ranging between five percent and 5.9 percent. Siddhartha Bank and Kumari Bank are offering 5.75 percent and 5.61 percent, respectively. Rastriya Banijya Bank, Nabil Bank, Laxmi Sunrise, and Citizens Bank International each offer 5.5 percent. Agricultural Development Bank and Nepal Bank are providing 5.4 percent, while Nepal SBI and NIMB are offering 5.35 percent and 5.25 percent, respectively. At the lower end, Prabhu Bank offers the lowest individual fixed deposit rate at 4.25 percent, a drop of 1.85 percentage points.

This downward revision follows Nepal Rastra Bank’s decision to cut all rates within the interest rate corridor. Through the Monetary Policy for Fiscal Year 2025/26 unveiled last week, the central bank reduced the bank rate from 6.5 percent to six percent, the policy rate from 5 percent to 4.5 percent and the deposit collection rate (floor rate) from three percent to 2.75 percent.

With the floor rate coming down, banks have decreased their minimum savings interest rates accordingly. The minimum savings rate had previously stayed just above three percent as lowering the rates below the floor rate would have denied banks access to the central bank’s Standing Deposit Facility (SDF). Now, with the central bank itself reducing the floor rate, saving rates of banks have come down further.

Alongside savings interest rates, banks have also reduced interest rates on fixed deposits. The base rate of two commercial banks has already fallen below five percent. If rates drop further, loans are expected to become even cheaper.