In the first eleven months of the fiscal year 2079/80, non-life insurance companies in Nepal collected an impressive amount of Rs. 36.19 Arba in premiums from 25.37 lakh active insurance policies. According to a report from the Nepal Insurance Authority, Siddhartha Premier Insurance holds the most active policies at 313,602, followed by Sagarmatha Lumbini […]
The Securities Board of Nepal (SEBON) has given its approval for the “Himalayan 80-20” mutual fund scheme, which is valued at Rs 1 Arba. This closed-end scheme will offer 10 crore unit shares with a par value of Rs 10 per share. The scheme is sponsored by Himalayan Bank Limited (HBL) and managed by
According to the Nepal Insurance Authority (NIA), the number of life insurance policies taken by individuals working abroad has increased by a significant 80.68 percent within a year. From Jestha 2079 to Jestha 2080, the number of life insurance policies subscribed for foreign employment rose from 876,541 to 1,583,746. Overall, there has been growth
Nepal Rastra Bank (NRB) has responded to the accumulation of excess liquidity in the banking system by issuing another reverse repo. After previously issuing reverse repos on two separate occasions, NRB has now introduced Rs. 20 Arba on Tuesday. The reverse repo is a monetary tool utilized to absorb surplus liquidity and bring stability
The 132 KV Dordi Corridor Double Circuit Transmission Line Project has successfully connected 126.84 MW of electricity. This transmission line was built to transfer power from the Dordi River and its tributaries in Lamjung efficiently. Previously, the power infrastructure in the region was not fully utilized due to a lack of electricity. However, since
The Asian Development Bank (ADB) has approved a $50 million USD loan to help Nepal boost its domestic and international trade. Trade and industry currently make up 14.1% of Nepal’s GDP. The Nepalese government aims to increase the trade sector’s contribution by improving trade and export promotion, enhancing customs and logistics systems, and strengthening
Pokhara Metropolitan City has announced plans to offer a 70 percent grant in the agriculture sector based on production. The Deputy Mayor, Manju Devi Gurung, revealed this during the presentation of the budget for the upcoming fiscal year 2080/81. The city aims to prioritize investment by providing a minimum of 70 percent grant to classified
Sanima Reliance Life Insurance has introduced a renewal scheme aimed at waiving off 100% of delayed charges for its current policyholders. The scheme will be available from Asar 11 to 28, 2080. The company has encouraged its customers to take advantage of this opportunity, according to a media statement.
In the month of Jestha, 2080, the monthly transactions through CORPORATEPAY exceeded NRs. 50 Billion, marking the highest amount for a single month since its launch in Magh 2077. The total transaction value for the current fiscal year has surpassed NRs. 421 Billion, a significant increase from the previous fiscal year’s NRs. 190.5 Billion.
India and Nepal have made a significant agreement for India to purchase 200 megawatts (MW) of electricity from Nepal during the rainy season. The deal will last for five years and is seen as an important step in their long-term electricity trade. Unlike the previous method of selling electricity through a competitive market, this new
