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Nepal’s banking system is once again at an inflection point. As Nepal Rastra Bank signals a possible relaxation of blacklisting provisions, a broader debate has quietly emerged within the financial sector. The issue is not merely about easing rules or providing relief to borrowers. It is about preserving the delicate balance between credit discipline and financial stability at a time when both are under strain.

Recent data from the Credit Information Bureau paints a stark picture. Over the past seven fiscal years, the number of blacklisted individuals has surged dramatically, reaching nearly 170,000 by FY 2024-25. The increase has been particularly sharp in the last three years, reflecting deeper structural stress in the economy. Check bounce cases account for a significant portion of this rise, while loan defaults have also accelerated, especially in retail segments such as credit cards, phone loans, and personal borrowing.

This trend cannot be dismissed as a mere statistical anomaly. It reflects underlying vulnerabilities in household finances, business cash flows, and credit underwriting practices. The post-pandemic recovery has been uneven, and many borrowers continue to operate in a constrained economic environment. At the same time, credit expansion in earlier years, particularly in unsecured and consumption-driven lending, is now translating into higher defaults.

Against this backdrop, the central bank’s concern is understandable. A rapidly expanding blacklist can limit access to formal finance and potentially shrink the pool of eligible borrowers. In an economy that relies heavily on small and medium enterprises, such exclusion can have broader implications for growth and employment. The question of whether the current system is overly restrictive is therefore a legitimate one.

However, the issue becomes more complex when viewed from the perspective of financial stability.

Blacklisting in Nepal has evolved into more than just a regulatory mechanism. It serves as a critical tool for enforcing credit discipline. The reputational cost associated with being blacklisted has historically played a significant role in encouraging timely repayment. In a system where formal enforcement mechanisms can be slow and costly, such behavioral incentives are particularly important.

Any move to dilute this signal must therefore be approached with caution.

One of the key concerns raised by the banking sector relates to the composition of blacklisted cases. Not all entries in the blacklist represent the same type of risk. Check bounce cases, for instance, are fundamentally transactional issues between private parties. They do not necessarily reflect systemic credit risk in the banking system whereas loan defaults directly involve public deposits and the integrity of financial intermediation.

Treating these categories uniformly can lead to policy distortions. It risks overestimating the extent of genuine credit stress while underestimating the importance of maintaining discipline in bank lending. A more nuanced approach is needed, one that distinguishes between different types of defaults and tailors regulatory responses accordingly.

Another important dimension is the recent removal of the threshold that previously exempted small borrowers from blacklisting. While this change may have been intended to standardize the framework, it has also contributed to a surge in the number of blacklisted individuals. Defaults on relatively small amounts, including credit card dues and short-term consumer loans, are now being captured alongside larger and more complex cases.

This raises questions about proportionality. A system that imposes identical consequences for vastly different levels of default may end up being both inefficient and inequitable. It can discourage risk-taking among small entrepreneurs while doing little to address larger structural risks.

At the same time, there is a genuine concern within banks that any relaxation of blacklisting provisions could encourage a culture of non-payment. Credit discipline, once weakened, is difficult to restore. Even a perception that enforcement is becoming lenient can alter borrower behavior. This is particularly relevant in the current environment, where recovery efforts are already challenging and non-performing loans remain a concern. The policy challenge, therefore, is not whether to relax or maintain the current system in its entirety. It is about how to recalibrate the framework in a way that preserves its core strengths while addressing emerging weaknesses.

A starting point would be to introduce greater differentiation within the blacklisting system. Separating transactional defaults, such as check bounce cases, from credit-related defaults would improve clarity and allow for more targeted policy interventions. This would ensure that measures aimed at easing business constraints do not inadvertently weaken the enforcement of loan repayment.

Another important step would be the introduction of a structured rehabilitation mechanism. Instead of treating blacklisting as a binary status, the system could allow for graduated re-entry based on demonstrated improvement in repayment behavior. Borrowers who make partial repayments, comply with restructuring agreements, or show consistent financial discipline over time could be moved to a monitored category. This would create incentives for recovery without compromising accountability. The suggestion from the banking sector to allow limited account operations for blacklisted individuals also merits consideration. Maintaining restricted access to banking services would enable better tracking of financial transactions and improve the prospects of loan recovery. At the same time, it would allow businesses to continue basic operations, reducing the likelihood of complete financial exclusion.

Revisiting thresholds and proportionality is equally important. Reintroducing differentiated treatment for small-value defaults could help prevent over-penalization while maintaining strict enforcement for larger exposures. Such an approach would align regulatory outcomes more closely with the scale of risk involved.

Beyond regulatory adjustments, there is also a need to strengthen credit information systems. More granular and real-time data on borrower behavior would enhance risk assessment and reduce reliance on blunt instruments such as blacklisting. A more sophisticated information ecosystem would allow both banks and regulators to identify emerging risks earlier and respond more effectively. The timing of these discussions adds another layer of significance. With key leadership positions at the central bank currently vacant and a new government in the process of formation, the policy direction adopted in the coming months will have lasting implications. This is a period that calls for careful calibration rather than abrupt shifts.

Ultimately, the objective must remain clear. The stability of the financial system depends on a delicate balance. Depositors must have confidence that their savings are secured. Banks must be able to extend credit with reasonable assurance of repayment. The regulator must ensure that this relationship is maintained through credible and consistent policies.

At the same time, the system must remain responsive to changing economic realities. Excessive rigidity can be as damaging as excessive leniency. The goal is not to choose between the two, but to find a balance that supports both discipline and inclusion. A rising number of blacklisted individuals should be seen as an early warning signal. It highlights underlying stress in the economy and points to areas where policy refinement is needed. Addressing this challenge requires a measured approach, one that combines regulatory clarity with practical flexibility.

Nepal’s financial system has made significant progress in recent years in strengthening governance, improving supervision, and enhancing transparency. Preserving these gains is essential. Any reforms in the blacklisting framework must build on this foundation, not undermine it. In the end, the question is not whether the system should be strict or lenient. The question is whether the system is effective. A well-calibrated framework can enforce discipline, support recovery, and promote inclusion at the same time. Achieving this balance will be key to safeguarding financial stability in the years ahead.

The opinions expressed here are personal views

Hospitality is not about beds made or menus served. It is not about ratings, awards, or luxury. Hospitality lives in people whose days begin before the sun rises, whose nights end long after the world sleeps, and whose hands, hearts, and lives are quietly carrying the comfort of strangers.

Before a guest ever steps through the doors of a hotel or lodge, someone has already given pieces of themselves to ensure that their stay will feel seamless. Housekeepers wake up with aching muscles to scrub floors and polish rooms. Servers rise with sore backs to carry trays and balance countless needs at once. Cooks, chefs stand for hours over stoves, blending precision with care, pouring their energy into meals for people they have never met. Maintenance staff move silently through corridors, repairing, adjusting, and fixing problems so that no guest ever notices. Night teams stay alert when the world rests, ensuring safety and calm.

Every uniform hides a story that is seldom told. The receptionist who smiles brightly while registering a guest may have stayed up all night with a sick family member. The server delivering a meal may have skipped breakfast to save money for a sibling’s education. The housekeeper who carefully arranges a room may have carried grief, loss, or exhaustion in silence. The  bellboy lifting luggage may be carrying dreams, responsibilities, and hopes heavier than the bags themselves.

These people work tirelessly, not because someone watches, not because recognition comes, but because they have chosen humanity over convenience. They have chosen to give care, even when the world asks little in return.

Hospitality is not just physical labor, it is emotional endurance. Staff absorb frustration, anger, sadness, and exhaustion from guests without complaint. They remain patient when treated unfairly, calm when faced with unreasonable demands, and kind when their own lives are burdened. Their labor is unseen yet indispensable. A guest may leave feeling comforted, relaxed, and at home but the staff carry the weight of that comfort silently, without acknowledgment.

Consider the housekeeper who bends and stretches hundreds of times a day, arranging every corner perfectly, noticing details no one else would. Consider the cook who prepares hundreds of meals with care, precision, and pride, knowing that food is more than sustenance; it is memory, culture, and love. Consider the night staff who remain awake, vigilant, and alert, ensuring guests sleep safely while they themselves go without rest.

These acts are ordinary only in appearance. They are extraordinary in meaning. Every gesture carries resilience. Every silent effort carries sacrifice. Every patient smile carries courage.

The people behind hospitality carry burdens that go unseen. Festivals pass by unnoticed. Family events are missed. Celebrations are postponed. Life continues for others, while these individuals dedicate their energy to the comfort of strangers. They absorb the world’s fatigue so that guests can rest. They carry emotional weight so that others can feel light.

They endure, not for glory, not for fame, not for recognition. They endure because caring is who they are, even when it costs them dearly.

Guests rarely remember checklists or luxury details. They remember how someone made them feel. They remember the quiet attentiveness of a server who noticed exhaustion. They remember the gentle words of a receptionist who recognized anxiety. They remember the room prepared by hands that cared more than anyone could see. These small acts, invisible to many, leave imprints on the heart that no luxury can replicate.

Hospitality demands strength hidden behind softness. Staff smile when their bodies ache. They speak kindly when their hearts are heavy. They guide with patience when the world is impatient. They offer calm in storms that they themselves are weathering. This is the silent heroism of the industry, the courage to give of oneself endlessly, invisibly, yet meaningfully.

In an era dominated by technology, hospitality reminds us that care cannot be programmed. Systems can manage bookings. Machines can unlock doors. But only humans can sense the subtle weight of a weary guest. Only humans can offer reassurance when words fail. Only humans can create warmth, safety, and dignity.

To truly witness hospitality, one must look beneath the surface. Observe the staff, not the spaces. Watch the hands that clean, the eyes that listen, the hearts that endure. Stand beside them for a moment and feel the exhaustion, the sacrifice, and the unwavering commitment. See the person who left a child at home to support a family, the server who skipped meals to feed others, the housekeeper who worked through illness so that every guest’s experience is perfect. These are the people who make hospitality real.

Their work is the quiet poetry of care. Their labor is the heartbeat of every hotel, resort, and restaurant. Without them, the industry is just bricks and lights, menus and sheets. With them, even the simplest stay becomes unforgettable, even the ordinary becomes extraordinary.

Hospitality is not luxury. It is not perfect. It is endurance wrapped in kindness. It is sacrifice, resilience, and empathy poured into every gesture, every smile, every task. It is invisible labor given freely. It is people choosing humanity over ease, care over indifference, and presence over neglect.

Behind every smooth check-in, every warm meal, every comfortable stay, there is someone who carries more than their job. Someone who gave pieces of their day, their energy, their patience, their heart without expecting anything in return. Someone who stayed strong so that others could feel safe. Someone who worked in silence so that others could rest.

The next time you step into a hotel, a resort, a restaurant, pause. Look beyond the polished floors, the soft beds, and the impeccable service. See the people. See the ones who endured, sacrificed, and gave of themselves so that your experience could be seamless. Honor them silently, appreciate them loudly, and carry their humanity in your memory.

Because hospitality is not a product. It is a human connection. And it lives in people always in the people who choose to care, no matter what they carry in their own hearts.

In Nepal, addiction is still spoken about in hushed tones. A man who drinks too much is said to lack self-control. A teenager glued to a phone is blamed for poor discipline. Someone who uses drugs is often seen as irresponsible, immoral, or beyond help. These explanations feel familiar because they are deeply cultural. But neuroscience tells us they are wrong. Addiction is not a failure of character. It is a disorder of the brain.

This is not a matter of opinion. Over the past several decades, research in neuroscience and public health has shown that addiction changes how the brain functions. It alters neural circuits responsible for reward, motivation, stress, learning, and self-control. When this science is ignored, society responds with shame instead of treatment. People suffer longer. They relapse more often. Many die quietly, without support or care. Nepal is now facing a growing addiction crisis that demands a science-based response.

The scale of addiction in Nepal

Government data show that substance use is not a marginal issue. The Nepal Drug Users Survey conducted by the Ministry of Home Affairs estimated more than 130,000 current drug users nationwide, with the number increasing each year. Most users are young, and the vast majority are men. This is not a hidden subculture. It is a public health challenge affecting families, workplaces, and entire communities.

Alcohol use is even more widespread. According to Nepal’s STEP wise Survey on Non-Communicable Disease Risk Factors, conducted with support from the World Health Organization (WHO), nearly one in four adults reported consuming alcohol in the past year. Rates were far higher among men. Tobacco use remains similarly common across the population.

Since alcohol and tobacco are legal and socially accepted, their harm is often underestimated. Yet research conducted within Nepal tells a more troubling story. A large study from central Nepal, published in an international mental health journal, found that nearly one in four male drinkers screened positive for alcohol use disorder. Harmful drinking was closely associated with depression, suicidal thoughts, reduced ability to function at work and home, and intense feelings of shame. The researchers did not describe alcohol misuse as a lifestyle choice. They described it as a condition deeply intertwined with mental health and stigma.

Drug use injections add another layer of risk. Studies published in journals such as PLOS ONE have documented high vulnerability to HIV and hepatitis C among people who inject drugs in Nepal. These studies also highlight how fear, discrimination, and criminalization discourage people from seeking healthcare until serious illness develops. When addiction goes untreated, it becomes a driver of infectious disease, disability, and premature death.

A new and growing addiction among Nepal’s youth

While Nepal continues to debate drugs and alcohol, another form of addiction is growing rapidly, especially among adolescents. Problematic internet and smartphone use is now widely reported among Nepali school and college students. A 2024 study of urban school adolescents found that excessive internet use was strongly associated with poor sleep, depression, and emotional distress. Another study published in PLOS ONE the same year reported that a substantial proportion of adolescents met criteria for internet addiction, and that physical inactivity and disrupted sleep patterns were common.

These findings matter because behavioral addictions are not less real than substance addictions. The brain does not distinguish between dopamine released by alcohol, gambling, or endless social media scrolling. What matters is repetition, intensity, and how powerfully a behavior trains the brain’s reward system.

Nepal’s youth are growing up in a digital environment that rewards constant engagement and rapid stimulation. Their brains are still developing, particularly the regions responsible for impulse control and decision-making. Neuroscience shows that early and excessive exposure to addictive patterns, whether chemical or digital, can shape brain development in ways that persist in adulthood.

What neuroscience tells us about addiction

Modern neuroscience has transformed how addiction is understood. Addictive substances and behaviors repeatedly overstimulate the brain’s reward system. Over time, the brain adapts. Everyday pleasures feel less satisfying. Stress and irritability increase. Cravings become automatic. The systems responsible for self-control struggle to regulate behavior. This is how addiction shifts from choice to compulsion.

WHO has consistently emphasized that addiction is a chronic brain disorder, not a moral failing. This is also why relapses are common. When someone returns to substance use, it does not mean treatment failed or that the person lacked willpower. It means the brain remains vulnerable and requires continued support. WHO’s recognition of gaming disorder in its international disease classification further reinforces this understanding. Compulsive behaviors that disrupt daily functioning are legitimate health conditions, not personal flaws.

A response shaped by stigma

Despite this growing body of evidence, Nepal’s response to addiction remains limited and fragmented. Addiction is often treated as a social nuisance rather than a health condition. Families hide the problem until it becomes severe. Individuals delay seeking help because they fear judgment. When treatment is accessed, it often relies heavily on institutional rehabilitation, with limited long-term follow-up or integration with mental health care.

Research conducted in Nepal shows that stigma itself worsens outcomes. People with alcohol use disorders frequently internalize shame, which is associated with poorer mental health and a lower likelihood of seeking help. Shame does not cure addiction. It fuels it. At the same time, Nepal’s mental health system is overstretched. The country has a limited number of trained addiction specialists, most of them concentrated in urban areas. Community level prevention and early intervention remain rare.

A global warning Nepal should not ignore

Globally, addiction is rising. The United Nations Office on Drugs and Crime reports that more than 300 million people worldwide used drugs in the past year, the highest number ever recorded. WHO estimates that alcohol alone contributes to more than two million deaths each year.

These are not failures of morality. They are failures of health systems that do not act early or compassionately enough. Countries that have adopted neuroscience informed approaches, including early screening, integrated mental health care, harm reduction, medication assisted treatment, and long-term support, have seen better outcomes. Those that rely on punishment and stigma do not.

What Nepal must do now

Nepal must recognize addiction as a health condition rooted in brain biology. This shift would change how families respond, how clinicians treat patients, and how policymakers allocate resources. Care for people with addiction must be integrated into primary healthcare. Screening for alcohol, tobacco, drugs, and problematic internet use should become routine. Training in addiction medicine and mental health must be expanded. Treatment should address depression, trauma, and anxiety alongside substance use, not as separate problems.

Harm reduction services for people who inject drugs must be strengthened, not stigmatized. Evidence from Nepal itself shows that community-based outreach saves lives and reduces disease transmission. Prevention must begin early. Schools should teach how the brain forms habits and how sleep, stress, substances, and screens affect mental health. Parents cannot fight addictive digital platforms alone.

A choice Nepal can no longer avoid

If addiction could be solved through shame, Nepal would have solved it generations ago. Addiction persists because it is not a moral problem. It is a brain problem shaped by biology, stress, trauma, and the environment. Neuroscience also shows that the brain can recover, but only when treatment replaces judgment, and understanding replaces silence. Nepal has begun to speak more openly about mental health. Addiction must be part of that conversation. Treating addiction as a brain disorder is not an excuse. It is the first step toward effective, compassionate, and evidence-based care. Silence has failed. Stigma has failed. Science has not.

The author is a PhD candidate in the Department of Neurosciences and Neurological Disorders at the University of Toledo College of Medicine and Life Sciences

In a historic political shift, the newly formed Rastriya Swatantra Party (RSP) and its prime ministerial candidate, rapper-turned-politician Balen Shah, swept the elections in Nepal and are set to form the government – dislodging the country’s old political institutions. While the mandate marks a pivotal moment in Nepal's political landscape following the Gen-Z protests that rocked the country last year, it also poses a significant strategic test for India in Kathmandu. 

Nepal occupies a key strategic place in India’s South Asian engagement strategy. India remains Nepal’s largest trading partner. Over the past decade, New Delhi has invested significantly in developmental assistance, strengthening cross-border connectivity projects and hydro and energy cooperation.

Initiatives such as amending the ‘Treaty of Transit’ to enhance trade flows via the Jogbani-Biratnagar rail link – enabling direct rail transport of containerised and bulk cargo to Nepal’s custom yard – and completion of the 34 km Jayanagar-Kutha rail link, similarly, integrated check posts have been operationalized to streamline customs procedures and reduce logistical delays – illustrate India’s effort in institutionalising supply chains that bind two economies closer together.

In the energy sector, India has invested heavily in several hydropower and electricity transmission projects. Multiple cross-border electricity transmission lines are already operational, while agreements have been signed for a new 400 kV transmission line linking Inaruwa to New Purnea and the Lamki-Dododhara corridor with Bareilly. Additionally, under a long-term power-purchase agreement, Nepal plans to export up to 10,000 MW of electricity to India over the next decade – reinforcing New Delhi’s ambition to position itself as the hub of a broader regional energy network. 

However, the smooth operationalization of these initiatives depends significantly on a cooperative and predictable political leadership in Kathmandu. It is precisely at this juncture that the landslide victory of the RSP carries profound significance. 

The RSP’s electoral triumph reflects the aspirations of a new generation shaped by the Gen-Z wave. For many Nepalis, the political mandate represents not merely a change in government but a generational reset in a political system long criticized for stagnation and persistent corruption. The anti-corruption sentiment that fuelled the September protests has now propelled a leadership that emphasises transparency, accountability, and institutional reforms while simultaneously articulating what many describe as a more “vocal sovereignty."

Within this emerging political cohort, relations with India may no longer be viewed through the lens of ‘historical obligation’. Sections of Nepal’s political discourse have historically accused India of excessive involvement in Nepal’s internal affairs and behaving as ‘big brother’ rather than engaging on equal terms. Whether justified or not, such perceptions have periodically strained bilateral ties in the past. The emergence of a political order committed to “strategic autonomy” and a “Nepal First” approach is therefore likely to scrutinize India’s role far more closely, particularly in negotiations concerning trade felicitation, customs procedures, and cross-border administrative arrangements. 

Consistent with this outlook, RSP under Shah’s leadership has pledged to reposition Nepal from a traditional “buffer state” between India and China into a “vibrant bridge” that facilitates trilateral economic partnerships. The RSP argues that Nepal must pragmatically maximize its sovereign interests with both neighbors through technical negotiations. 

China, meanwhile, is keen to steadily expand its economic and infrastructural footprint in Nepal. During K.P. Sharma Oli’s tenure, Kathmandu finalized several projects under the Belt and Road Initiative, deepening Chinese engagement in the country’s infrastructure sector. 

While Shah has expressed equal frustration with both India and China, it is very likely that the new government will seek to diversify Nepal’s external partnerships to reduce long-standing dependence on any single partner. Such balancing is common in South Asian diplomacy; yet, most of the party leadership’s relative lack of prior institutional experience in governing at the national level, coupled with a new political landscape, introduces an element of unpredictability regarding how these ambitions will translate into policy or whether the party’s “Nepal’s First” policy will slip into a “China First” reality – inevitably complicating India’s strategic calculations in the Himalayas.

Another sensitive dimension concerns unresolved territorial disputes. Shah and his party have taken a critical position on revisiting the India-Nepal Treaty of Peace and Friendship and have repeatedly called for a stronger Nepali stance on key territorial disputes, including Kalapani, Lipulekh, and Limpiyadhura, insisting that no foreign activity should take place in these regions without Nepal’s consent. The issue has remained a sensitive flashpoint between the two since Nepal’s controversial map revision in 2020. Now, with a two-thirds parliamentary majority, the new leadership could possess the domestic political capital to pursue a harder line on such issues, considering Balen Shah’s earlier anti-India rhetoric as a mayor of Kathmandu – possibly sharpening bilateral tensions.

New Delhi’s diplomatic outreach towards Nepal was traditionally anchored in the long-established political entities, such as the Nepal Congress and the Communist Party of Nepal – Unified Marxist–Leninist (CPN-UML). The RSP’s landslide victory signals the erosion of this familiar political landscape and the emergence of a new generation of leaders whose governance approach remains largely untested. In a country witnessing a dramatic shift, its younger generation is more digitally connected than ever before and uncompromisingly aspirational. Nepal’s electoral earthquake has brought the RSP into the corridors of power – one that India’s regional diplomacy has not previously had to navigate in such a form.

Although the new mandate sends some optimism in New Delhi's strategic circles. Analysts view the emergence of RSP, compounded by Shah's technocratic priorities – its emphasis on improving infrastructure, digital connectivity, and boosting GDP – could also open new avenues for cooperation. RSP ambitiously wants to be vehicle of change of a new Nepal and the trajectory of India-Nepal relations will therefore depend on how India adapts to this evolving landscape, making the RSP’s rise not a just a domestic phenomenon but a critical strategic test for New Delhi’s regional diplomacy in Kathmandu. 

Ammu S. Anil is a Senior Research Fellow at the MMAJ Academy of International Studies, Jamia Millia Islamia, New Delhi, and a Visiting Fellow at NIICE Nepal, Lalitpur.

Mahesh Ganguly, Teaching Assistant and Research Fellow, IIT Bombay.