Submit your Article

Shanti Silwal is a burn violence survivor. She is the mother of a seven-year-old who, she says, makes her happy to be alive. At 41, she’s braved life’s roughest storms but she says it’s not made her bitter, and for that she is grateful to “her spirit that refuses to give up”.

“I don’t want people to look at me and feel sorry for me. I want them to look at me and see a strong, determined woman,” says Silwal, who suffered above 40 percent burn when her husband set her on fire following an altercation 13 years ago.

The scars have healed. The pain remains. It’s something she will never forget. It’s limited the opportunities she would have gotten had she not had debilitating scars on her face and body. But Silwal is brave enough not to let her scars define her.

Under Inara, a social enterprise by Astitwa Nepal, an organization that supports and rehabilitates survivors of acid and burn violence, she has participated in multiple trainings to pick up skills that can help her create a good life for her son and herself. What caught her interest was jewelry making, she says. A few years ago, she participated in a workshop where she learned how to make earrings and bracelets.

“I can make 50 simple bracelets or 10 pairs of earrings in an hour,” she says, the pride evident in her sparkling eyes. It wasn’t always so easy though, she adds. A handmade earring might look simple but you need to know how to use the tools and have good hand-eye coordination to make a decent pair. Also, two pieces in a pair need to be exact replicas of each other and that is difficult to achieve.

Trisha Pradhananga, program and operation officer at Inara, says Silwal is extremely talented as well as quick and eager to learn. She is able to complete orders that take others a week or more in just a day or two. Her attitude and approach towards her work is inspiring, says Pradhananga.

Silwal says she can function on very little sleep if she has work. She is driven by her need to do more and to do better. It has always been like that. Work, she says, is worship. Even as a child, Silwal was a go-getter who had to excel in the simple tasks her guardians asked her to do.

Driven by the motto that no work is small and that everything you do must be done with passion and a sense of gratefulness at being able to use your mind and body, Silwal tackles work with commendable zeal. She goes to bed at midnight and wakes up at six in the morning or even earlier depending on her workload. The early hours are for prayers, chores, and getting her son ready for school. The rest of the day is for working on the orders—making customized earrings and bracelets.

Pradhananga says the pieces Silwal makes are good. Even though she works fast, she doesn’t compromise on the quality of the products. Inara too wants to ensure the quality is maintained so that those who buy them get their money’s worth. “We want people who shop at Inara to feel like they are supporting a cause as well as investing in really good pieces of jewelry,” she says.

This is how training and workshops have been able to help. Burn violence survivors get to learn different crafts like jewelry making, pottery, macrame, etc. which provides them with income generating skills. Silwal says they have been a boon to her.

“I try to participate in as many workshops as I can so that I can learn new skills and use them to increase my income,” says Silwal as an instructor shows her how to create neat layers on a bead necklace at a recent workshop organized by Inara.

Out of the eight participants, Silwal was the first to complete a five-layered necklace and to do so without having made any mistakes. She then helped other participants, while also berating them for wasting time and resources when they spilled beads on the floor or used excess thread and wire only to eventually cut and toss them in the bin. The two trainers at the event agreed she could very well have been one of them.

“I have always disliked wasteful behavior and believe we must respect the things we have to live a prosperous life,” says Silwal. Having always struggled with not having enough in life, she believes you must make the best of what you’ve got. She’s also a firm believer in the power of hard work. It never goes unnoticed and unappreciated, she says.

However, Silwal admits that she loves the financial freedom her work gives her. As a burn survivor, it’s difficult to get work. They aren’t hired as receptionists or in positions where they have to deal with a lot of people. The society today has a much broader outlook but biases run deep. The changes in people’s attitude towards burn survivors, Silwal says, is superficial. Their scorn is masked by sympathy or rarely empathy.

“So I’m happy to be doing what I’m doing. I love making things and it brings in some money for me to be able to buy what I need and want,” she says. She doesn’t have to ask anyone for money. She is able to eat out when she’s bored of homemade food or doesn’t feel like cooking. She has even managed to save a little and that puts her mind at ease. “Being able to earn has also made me confident. I don’t fear the future like I once used to. I know whatever happens I’ll be able to manage things on my own,” she concludes.

The banking sector in Nepal is currently grappling with a multitude of challenges that have far-reaching implications for the economy. One of the most significant issues is a marked decline in dividend distribution. Historically, banks in Nepal were able to deliver a hefty number of dividends. However, in the last fiscal year, many institutions struggled to provide even a 10 percent dividend, with the sector-wide average falling below five percent. This decline has eroded investor confidence, prompting large investment groups to reconsider their stakes in the sector. The shrinking returns on both capital gains and dividends have exacerbated this hesitancy, underscoring the urgent need for reforms to restore trust and stability.

The decrease in dividend capacity is not a result of NRB policies but stems from the individual banks’ operational challenges. Efficient banks have still been able to distribute dividends, with some banks providing dividends of up to 26 percent, while others have not been able to do so. The banking sector’s struggles are primarily driven by external pressures, including market rumors, which have hindered the functioning of lower-level bank branches. This external pressure has added complexities to the financial ecosystem, and despite the solid capital base of the banks, non-performing loans have risen.

Regulatory changes, particularly the proposed amendments to the Bank and Financial Institutions Act (BAFIA), have further complicated the situation. A contentious provision restricting shareholders who hold more than one percent of a bank’s shares from obtaining loans from other financial institutions has raised concerns among stakeholders. Historically, industrialists have played a pivotal role in establishing banks, but such measures could compel them to liquidate shares or settle loans, leading to market instability. These regulatory changes, coupled with declining demand and operational strain, have stifled the sector’s growth potential. In this context, the Nepal Rastra Bank (NRB) has introduced provisions designed to protect the financial system and avoid a panic scenario. These measures are meant to ensure stability without stifling the long-term viability of the sector.

Economic downturns have also driven a sharp increase in non-performing assets (NPAs), a critical metric for assessing financial health. The average NPA ratio has risen from 1.67 percent two years ago to approximately 4.5 percent, with some ‘C’ category financial institutions reporting NPAs exceeding 10 percent. Even with loan restructuring facilities, NPAs remain near five percent, posing a significant threat to the sector’s stability and the broader economy. Weak loan demand and structural challenges continue to compound these risks, further destabilizing the financial system. This reflects the broader macroeconomic challenges, as well as the unique pressures faced by the banking sector.

The NRB recognizes these challenges and has been working on regulatory frameworks that aim to ensure the resilience of the banking system. While some banks have faced difficulties in profitability, it is essential to note that the NRB’s measures are intended to safeguard the sector, providing the necessary framework for long-term stability. For instance, while external issues have raised questions about profitability, it is clear that banks cannot operate without profitability, and returns on capital investments are critical for sustained operations. The NRB's efforts are geared toward ensuring that the banks remain operational and sustainable, even amid a challenging environment.

Profitability in the banking sector has significantly declined. The return on equity (ROE), a key indicator of financial performance, fell from 21.94 percent in FY 2021-22 to just 4.80 percent in FY 2023-24. Reduced net interest income, weak loan demand and regulatory constraints on fee and commission income have collectively strained earnings. Operational costs, particularly investments in IT infrastructure and compliance, have added to these pressures. While banks like Standard Chartered Bank and Everest Bank reported relatively higher ROEs, others, such as Nepal Bank, struggled to remain profitable. Despite these challenges, NRB’s approach to banking supervision is aimed at creating a balanced environment where the banks are supported through difficult periods without compromising the sector’s financial health.

Credit expansion has been stagnant these days mainly due to the lack of demand. A mismatch between liquidity and demand further compounds the problem, leaving banks with substantial liquidity but limited opportunities for productive lending. This scenario underscores the need for a balanced regulatory framework that promotes both stability and growth. While the NRB’s policies may limit some aspects of banking operations, they are designed with the long-term health of the sector in mind, ensuring the banking system remains solvent and resilient even during challenging periods.

Nepal’s broader economic structure adds another layer of complexity. The government faces a revenue deficit of Rs 170bn, low capital expenditure and high recurrent costs, all of which highlight fiscal imbalances. Federalism has introduced additional financial burdens without commensurate resources for development. High debt-servicing obligations strain the budget further, forcing the government to issue treasury bills even for routine expenditures. Stagnation in the real estate sector and declining investor morale exacerbate these economic pressures, highlighting the need for systemic reforms.

Leadership in the banking sector is undergoing significant changes. Younger leaders, often with decades of experience, are driving digital transformation and operational efficiency. At leading banks, approximately 80 percent of transactions are now digital, enhancing customer satisfaction and streamlining operations. However, aggressive lending strategies aimed at stimulating loan growth have often compromised profitability. A more sustainable approach that aligns banking operations with national development goals, such as job creation and productive investments, is essential for long-term stability.

While some macroeconomic indicators provide grounds for cautious optimism, the persistent lack of credit demand in productive sectors remains a concern. Stabilized foreign exchange reserves and declining interest rates offer a foundation for recovery. However, a comprehensive review of federalism’s fiscal structure, along with targeted expenditure cuts, is critical to avoid a potential debt trap. Transparent collaboration between the private sector and the state can help restore confidence and drive economic recovery.

To address these challenges, a multi-faceted approach is essential. Regulatory frameworks should be revised to strike a balance between stability and growth. Encouraging productive lending and reducing excessive constraints can create a more conducive environment for banking operations. Establishing high-level commissions to address systemic issues and promote transparent collaboration between the private sector and the state is crucial. Additionally, investments in technology and innovation will enhance operational efficiency and customer satisfaction.

The NRB’s policies are continually evolving to ensure the stability of the banking sector while navigating the external challenges it faces. The regulator remains committed to safeguarding the financial system’s integrity, ensuring that both stability and growth can coexist in the long term. Banks are expected to adapt to the changing economic landscape while continuing to contribute to national development. The NRB’s framework aims to foster a balance between operational efficiency, profitability and financial stability, ultimately enabling the banking sector to thrive in challenging economic times.

In a nutshell, while the banking sector in Nepal faces significant challenges, a concerted effort to implement targeted reforms and foster collaboration between stakeholders can pave the way for recovery and growth. By addressing structural inefficiencies and focusing on sustainable practices, the sector can overcome current adversities and emerge as a cornerstone of Nepal’s economic stability and progress. The path forward requires bold decisions, innovative solutions and a collective commitment to building a robust and resilient financial system that supports the nation’s aspirations for sustainable development.

The author is deputy director at Nepal Rastra Bank

One of my fondest childhood memories is of the summer nights in Tadi, Chitwan, when the rice fields were alive with the mesmerizing glow of fireflies (Junkiri). Their blinking lights illuminated the darkness for miles, and we would chase them, trying to capture their beauty in small bottles. The simple joy of those nights filled us with energy and wonder. But when I returned to my old home, I found the fireflies gone, and the summer nights were no longer lit by their glow. I remember my grandmother’s stories of how the fireflies' lights made the frogs croak and summoned rainfall, adding magic to the night. Now, with their disappearance, I long for the wonder they once brought.

Often mistaken for flies or worms, fireflies belong to the Lampyridae family, making them relatives of ladybugs and dung beetles. While over 2,200 species are known worldwide, only three have been documented in Nepal: Luciola cruciata, the most common, Diaphanea marginellus, and Luciola ovalis, recently spotted at 2,000 meters in Kavre. Found in the plains and mid-mountain valleys during the monsoon season, fireflies serve as crucial indicators of ecosystem health, as they are highly sensitive to light pollution and environmental changes. Sadly, a general bias against insects and nocturnal species has hindered awareness and conservation efforts, even though fireflies play an essential ecological role. Protecting these unique creatures is vital to preserving the natural beauty and balance they bring to Nepal’s night skies. Their absence is not just a loss of magic, but a sign of a changing world that needs our attention.

Life cycle and special feature of fireflies

Fireflies undergo a fascinating life cycle, beginning as eggs laid by females underground. Both the eggs and larvae are capable of emitting a soft glow, similar to the light produced by adults. After hatching, the larvae spend one to two years underground, feeding on snails and slugs, before transforming into pupae. Once they emerge as adults, they have only 2-3 weeks to mate and lay eggs before their life cycle ends. One of their most remarkable features is their ability to produce light through bioluminescence, a chemical reaction in a special organ beneath their abdomen. This ‘cold light’ makes fireflies one of nature’s most efficient light sources.

Flashing activity of fireflies

Between June and April, male fireflies put on synchronized light displays as part of their courtship rituals, emitting unique patterns specific to their species to attract females. The glowing males, visible in the dark, are answered by the soft glow of the females, who respond when they find a suitable mate. These flashing patterns not only facilitate mate identification but also serve as a defense mechanism, warning predators that the firefly may be toxic or unpalatable. This dual role of attraction and deterrence makes the firefly's light display crucial for both survival and reproduction, turning the night into a mesmerizing stage for nature’s intricate dance.

Reason behind their decline

The decline of firefly populations can be traced to the growing shadows of modern life—light pollution and pesticide use. In the past, the nights were theirs to command, their soft glowing signals filling the air with magic. But now, the world is flooded with artificial light that disrupts the natural harmony of the night. Forests and shrubby habitats, once rich with the gentle flickers of fireflies, have been dimmed by the unyielding glow of city lights. This excess of light robs them of their ability to communicate, their flashing lights no longer able to pierce through the growing glare. Researchers estimate that this disruption has led to a 50 percent decline in their dazzling displays.

Adding to this darkness is the loss of their homes. Urbanization and agricultural expansion are encroaching on the fireflies’ delicate habitats, stripping away the places they once called home. Pesticides, too, have seeped into the soil, poisoning the very environment that fireflies need to survive and reproduce. The beautiful dance of light that once brightened the night is now fading into the distance, a bittersweet memory of a world that is slowly losing its glow.

Why conserve them?

Imagine summer nights without the soft, magical glow of fireflies, leaving the fields and forests strangely empty, devoid of the tiny lights that once filled us with wonder. Fireflies are more than just beautiful; they serve as nature’s messengers, signaling a healthy environment with clean water, balanced habitats, and minimal pollution. Without them, we lose more than their glow—they help control harmful pests through their larvae, reducing the need for chemical pesticides, and they pollinate plants, maintaining biodiversity. Beyond their ecological importance, fireflies inspire art, stories, and joy, adding charm to summer nights and creating cherished memories. Losing fireflies is not just a loss of magic, but a reminder of what happens when we fail to protect the natural wonders that enrich our world.

To conserve fireflies, Nepal must prioritize the protection of its biodiversity. Before undertaking development or construction projects, thorough assessments of their impact on local ecosystems and wildlife are essential. Government initiatives should promote natural ecosystem fostering and integrate environmental considerations into development agendas. Additionally, the excessive use of artificial light threatens fireflies by disrupting their bioluminescent signals, which are crucial for attracting mates. To mitigate this, using amber-filtered LED bulbs instead of white LEDs can reduce light pollution, helping to protect firefly habitats. By combining these efforts, we can ensure that fireflies continue to light up our nights, preserving their magic for generations to come.

Lesson from other countries

Nepal can also take inspiration from other countries like Taiwan , home to around 65 firefly species. Taiwan has embraced these luminous insects, not just as symbols of biodiversity but as opportunities for education, conservation, and community growth. There, firefly exhibition centers stand as beacons of awareness, and firefly viewing tours during the mating season draw people from all walks of life to witness nature’s magic. Taiwan has not only conserved these delicate creatures but uplifted local communities through eco-friendly initiatives. These inspirations could be taken and implemented to bring sustainable tourism and livelihoods to rural communities, fostering a deeper connection between people and nature.

Call for action

The fading glow of fireflies in Nepal is a stark reminder of the urgent need to protect our natural heritage. These enchanting creatures are more than symbols of beauty; they are vital to ecosystems and our cultural identity. By conserving their habitats and raising awareness, we can ensure fireflies continue to light up our nights and inspire wonder for generations to come.

This is a call to action for communities, policymakers, and nature lovers alike—let us work together to protect fireflies, foster sustainable practices, and reignite our connection with nature. The time to act is now, before their light dims forever.

“The festival of Makar Sankranti traditionally coincides with the beginning of the Sun’s northward journey (the Uttarayan) when it enters the sign of Makar (the Capricorn). It falls on the 14th of January every year according to the Solar Calendar. This day has a very special significance because the day and night on Makar Sankranti are exactly of equal hours. It is celebrated as a festival right from the times of the Aryans and is looked upon as the most auspicious day by the Hindus,” according to PK Das’ ‘Hindu Feasts And Festivals: Makar Sankranti’.

Madhes is a legendary land of fairs and festivals. There is a festival which falls every month of the year. Most of these festivals are related to gods and goddesses. Makar Sankranti is a unique festival because it is not associated with any god and goddess. It is not even related to a local deity. But it is somewhat related to the sun god visible all over the world. It is celebrated on the first day of the month of Magh according to the Bikram era. It falls in the winter season in which the earth reaches the southernmost point and starts returning to the northern hemisphere. The people of Madhes celebrate it for bright, beautiful and sunny days because there is a shivering cold at that time of the year. So they worship the sun god after immersing themselves in a water body. People dare to dive into the cold water of any river and pond and pool for a ceremonial bath. Bath is compulsory on this occasion for purification of body and mind. So they go to the confluence of rivers for a sacred bath. 

Either they go to the Kankai river which is popularly known as Maibeni Mela or Narayanghat where three rivers like Narayani, Seti and Gandaki meet. There they take a customary dip in the river to purify themselves. 

Days get warmer and warmer from this auspicious day. A great poet of English literature, PB Shelly is quite right when he says, “If winter comes, can spring be far behind?” So, people are hopeful of winter coming to an end soon. Lazy people also feel enthusiastic, spirited and strong on this day. The message of the Makar Sankranti is to enliven and encourage the lazy and lethargic souls. After taking a bath in a nearby river, they pray to the sun for better health and after coming back home they also seek blessings from elders.

After taking bath early in the morning, people of Mithila eat Khichadi (a mixture of rice and lentils) with pure ghee which is available in their sweet homes. They eat delicious dishes to beat this shivering cold of Magh.

This festival is called ‘Tila Sankranti’ in the Maithili speaking area and Khichadi in the Bhojpuri-speaking area. This festival represents Makar (Capricorn), the tenth sign of the Zodiac. Thus according to the Hindu scriptures the first day of Magh is observed as Makar Sankranti. The month of Magh is considered as a merrymaking month. The month of Poush is considered inauspicious whereas Magh is considered auspicious. Some religious people start bathing the whole month early in the morning, though it is very cold in the morning hours. Even idle and sick people take bath on the auspicious occasion of Maghe Sankranti. It has been articulated astrologically and astronomically that on this day the sun, the only visible god, is the farthest from the earth. So days become longer, better and warmer from this day. The people of Madhes celebrate Maghe Sankranti on the first day of Magh. It is worthy to note that Madhesi culture is very rich and renowned. 

Various fairs and festivals are the demonstrators of this richness, bathing rituals and processions take place at various religious places such as Janakpurdham, Dhanushadham and Jaleshwardham. Women throng these pious places and worship Lord Mahadev, the god of gods. They prefer to take bath on the confluence (Sangam) of at least two or more rivers because it is considered sacred. The people of Madhes rush toward rivers and rivulets and take a ceremonial bath to purify themselves. After taking the holy dips, they prepare several sweet recipes such as Mudhi and Lai made of molasses.They also prepare Khichadi—a mixture of rice, vegetables and lentils. So this festival is also called Khichadi in some places of Tarai-Madhes.

Tharu people also celebrate Maghi for three consecutive days. They eat special and decent dishes on this occasion. They sacrifice he-goats, chickens, pigeons and buffaloes. They celebrate their greatest festival by singing and dancing. They call it Maghi in their native language, celebrating it as the beginning of their new fiscal year whereas the people of Mithila celebrate it for one day only. 

Non-vegetarian people eat several kinds of dishes of meat according to their choices. Vegetarian people eat sweet potatoes and eat ladoos made by mixing Tila and molasses. This is a very healthy food item as it produces energy and heat in the human body. They also eat Dahi (curd) and Chiuda (beaten rice) and sugar. Khichadi with ghee is also considered a very nutritious food. People prefer to eat this type of food on this occasion. They also invite their married daughters and their husbands’ in-laws and other close relatives for family feasts. 

This festival gives enough opportunity for socialization. It is a perfectly cultural and social festival of the Hindu people who constitute a majority in Madhes. This is a great occasion for the grand gathering of this community for exchanging greetings and well-wishes. The main motto of this festival is peace, fraternity and unity in the society. This festival helps in creating an amicable atmosphere of social harmonization.

Makar Sankranti is an important festival that falls in mid-January. It is preceded by Lohri (bonfire) into which is thrown harvest produce like sugarcane stalks, parched rice and sesame seeds. On the day of Sankranti, Khichadi (mishmash of rice, lentils and vegetables) is prepared and given in charity. Sankranti, signifying light, also gives the message of intellectual illumination. It is the Viveka (discriminatory wisdom) to choose between the right and wrong that is believed to lead man on the path of happiness, Utpal K Banarjee fittingly states in his book titled ‘Hindu Joy of Life’.