Gold prices in the domestic market have experienced a decline of Rs. 800 per tola. The official website of the Federation of Nepal Gold and Silver Dealers’ Association indicates that fine gold is currently trading at Rs. 110,800 per tola, down from yesterday’s rate of Rs. 111,600 per tola. Similarly, Tejabi gold is being traded at Rs. 110,250 today, compared to yesterday’s rate of Rs. 111,050 per tola.
In addition, the price of silver has also dropped by Rs. 55 per tola. The lustrous white metal is currently being traded at Rs. 1,375 per tola in the local market, down from the previous day’s closing rate of Rs. 1,430 per tola.
Internationally, the current price of gold stands at USD $2,011.50 per ounce, while silver is being traded at $24 per ounce.
Grameen Bikas Laghubitta Bittiya Sanstha Limited (GBLBS) has reported a net profit of Rs. 5.9 Crores in the third quarter of FY 2079/2080, marking a 79.19% decrease compared to the same quarter in the previous year. The company’s net interest income decreased by 26.48% to Rs. 67.31 Crores, while its borrowings decreased by 16.70% to Rs. 5.70 Arba and deposits decreased by 4.55% to Rs. 3.75 Arba. The company’s loans and advances also decreased by 10.03% to Rs. 12.71 Arba in this quarter. Non-performing loans increased to 7.94% from 4.23% in the corresponding quarter, while annualized earnings per share (EPS) stands at Rs. 8.01 and net worth per share is Rs. 235.87.
The price of gold in Nepal has broken an all-time high record once again, gaining Rs. 1200 in a single day. As per the official website of the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is being traded today at Rs. 111,800 per tola, while Tejabi gold is being traded at Rs. 111,250. This is a significant increase from yesterday’s rate of Rs. 110,600 and Rs. 110,050 per tola for fine gold and Tejabi gold, respectively.
This recent surge in the price of gold follows the previous all-time high recorded on April 5th, 2023, when fine gold was traded at Rs. 111,000 per tola and Tejabi gold at Rs. 110,450 per tola. Silver has also seen a rise in its price, with a gain of Rs. 20 per tola. The white metal is currently being traded at Rs. 1,445 per tola in the local market, up from yesterday’s closing rate of Rs. 1,425 per tola.
In the international market, gold was traded at around $2,015.60 per ounce as of yesterday. However, the current rate of gold in the international market has reached USD $2,044.50 per ounce, while silver is being traded at $25.69 per ounce. It is worth noting that gold had reached an all-time high of $2074.88 in August 2020.
On the 10th of Chaitra 2078, the Nepal Insurance Authority directed that life insurance businesses have a minimum paid-up capital of Rs. 5 Arba. The Insurance Board also encouraged non-life insurance companies to increase their paid-up capital to Rs. 2.5 Arba by the end of Chaitra 2079.
Janaki Finance Limited (JFL) reported a 70.76 percent decrease in net profit in the third quarter (Q3) of fiscal year 2079/80.
According to a report released today by the financing company, its net profit fell to Rs 1.53 crore in the third quarter from Rs 5.24 crore in the previous quarter.
In Q3, Janaki Finance had a paid-up capital of Rs 69.04 crore and reserves of Rs 29.82 crore. The firm also has Rs. 19.5 crores in negative retained earnings.
JFL has collected Rs 3.34 arba in deposits and has issued Rs 2.62 arba in loans and advances.
On the other side, the company’s NPL has climbed by a staggering 391.67% to 23.60%.
According to the Nepal Bankers Association (NBA), the interest rate on fixed deposits would be reduced beginning in the approaching month of Baishakh, 2080. The majority of banks indicated support for decreasing the interest rate at the Bankers’ Association meeting on Wednesday, and the decision was taken to also cut the term interest rate.
The NBA, the umbrella organization for commercial banks, has resolved to slash interest rates. As a result, it has been agreed to reduce the interest rate on personal deposits by 10%. As a result of this change, the interest rate on fixed deposits has now fallen into the single digits.
During its conference, the Development Bankers Association, an association of Development Bank CEOs, also resolved to drop the interest rate. The committee members have agreed to reduce the deposit interest rate by 1%.
According to development banks, the interest rate on personal term deposits will now be 10.6 percent rather than 11.6 percent. Similarly, the interest rate on institutional term deposits has been reduced to 8.60 percent. It was also decided to reduce the savings interest rate by 0.60 percentage points. The lower interest rate will take effect on the first
The NEPSE index closed at 1,963.55 today, up 92.22 points from the previous trading day’s close. This represents a 4.93% increase. Yesterday, the index rose 27.31 points. In the last three days, the index has gained approximately 125.07 points.
Today’s opening price for the index is 1,871.46, which is also the intraday low. In contrast, it reached a high of 1,963.89 before closing at 1,963.55.
National Life Insurance Company has announced bonus rates ranging from Rs 63 to Rs 85 per Rs 1000 for its insured customers.
According to the information, the company will offer a Rs 63 bonus for up to 9 years of life insurance, Rs 64 for 10 to 20 years, Rs 70 for 21 to 25 years, and Rs 85 for 26 years and above per Rs 1000 of insured amount. According to the media statement, the company will also provide Rs 64 for up to 9 years of term insurance and full life insurance, Rs 64 for 9 to 20 years, Rs 70 for 21 to 25 years, and Rs 85 for 26 years and above.
In addition to the new year’s special offer, the bank is offering a 0.25% discount on the service charge for both of these loan schemes for female home/business owners for a limited time. According to the media statement, borrowers can also receive up to 100% of the cost of the home/building as a loan for a maximum of 30 years, as well as a special discount on the service fee.
According to the media statement, the bank will provide loans for entrepreneurs with the best valuation of property, loan amount disbursed beforehand, and an attractive discount on in-service charge.
You need to renew your driving license in Nepal every 5 years and it can be done through any Transport Management office.
Even though there are only a few steps to license renewal in Nepal, it almost takes 2 to 3 hours.
As offices are closed on weekends and so is the DOTM Nepal most of us need to take half a day or take leave from work just to renew our license.
This is also one of the main reasons why people get fined and have to pay late renewal fees.
Service
Driving License Renewal in Nepal
Issued By
Department of Transport Management
Validity
5 Years
Renewal Fee
Rs 1500
Fine After
90 days or more
Payment Methods
Cash
Application Mode
Offline
Official website
https://www.dotm.gov.np/
To renew your driving license in Nepal you will need to visit the Department of Transport Management office and follow the process below.
Receive token and EDL print
Provide Biometrics
Pass medical checkup
Calculate your fees
Payment
Receive receipt (Wait for license print)
As you already know Nepal has started implementing smart driving licenses including an option to upgrade for existing license holders.
This has hugely impacted DOTM’s printing and distribution timing, some are still waiting for their license after a year, so you might have to wait a little longer to receive your driver’s license.
But you will receive a receipt that can be used as a replacement until you receive your original renewed license.
Documents required to renew a driving license are
Citizenship original and photocopy
License original and photocopy
Step-by-Step Guide process to renew License in Nepal 2023
1. Receive token and EDL print
The first step is to take a token number for your license renewal, this is the waiting list. And receive your EDL print (license information) from room 101.
The room number might be different for different cities and offices.
2. Provide Biometrics
The second step is to give or verify your digital biometrics, if you have given your biometrics to DOTM then they will verify your digital fingerprint and if your information matches. You will be sent to the next step.
3. Medical checkup
The third step is to pass your medical, which is usually an eyesight and color blindness test. They will check if you can see properly or not.
If you fail this test then you might need to wear glasses and come back later.
4. Calculate your license fees
The fourth step is to calculate how much you need to pay to renew your license. This depends on your license type and if you are paying on time or not.
If you have to pay for renewal before 90 days of expiry then you do not have to pay a fine but if this exceeds then you will be fined. Check the table below for fines and fees.
5. Payment
The fifth step is to pay your fees, you need to fill out a bank voucher and deposit it.
6. Receive a receipt
After paying you need to wait for the receipt. After it is ready they will call you by name and give it to you.
You will receive two receipts. One is payment and the other (Pink) can be used as a license.
After this, you can go home, and to check your license print status you can check their official website.
About License Renewal fees in Nepal
The Department of Transport Management charges renewal fees to all Nepalese license holders after the expiry date.
As of 2023 Driving license renewal charges in Nepal start from Rs 1500 for two-wheelers, 2000 for small vehicles such as Cars and Jeeps, 2500 for heavy vehicles, and the highest will be Rs 3000.
These renewal fees are divided into categories of vehicles see the image below for more information.
How much is the fine for an expired license in Nepal?
The validity of your license in Nepal is of 5 years only and if you want to keep using it then you need to renew it accordingly.
If you fail to renew your license on time then you will have to pay a fine as high as 500% plus your actual renewal fees.
If you fail to renew your license within 90 days of expiry, you will be charged 100% until the first year and will keep on adding 100% as the year passes by.
How much is the fine for an expired license in Nepal?
You need to pay a fine of 100% to 500% in Nepal if you fail to renew your license on time.
After how many months will I have to pay fines for an expired license in Nepal?
The Department of Transport Management starts charging fines for driver’s licenses after 3 months or 90 days of their expiry.
Frequently Asked Questions on License Renewal
How much does it cost to renew a license in Nepal in 2023?
The entry fee for renewing a license in Nepal is Rs 1500, excluding other charges such as photocopies, photos, stamps, and application charges.
The cost of renewal depends on what type of license you own such as Bike, Car, and Big vehicle.
What happens if a driving license is expired?
If your license is expired, then you cannot drive in public spaces. Unless you renew your license and pay the government the renewal fee. Also if you are caught driving without a license then you will be fined and might get other punishments as well.
How to renew a driving license in Nepal?
Visit DOTM and follow the steps below to renew a license in Nepal.
1. Receive token and EDL print
2. Provide Biometrics
3. Pass medical checkup
4. Calculate your fees
5. Payment
6. Receive receipt (Wait for license print)
Can I renew my driving license online in Nepal?
Yes, you can renew your driving license online, visit the DOTM’s official website dotm.gov.np for more information and the application process.
Where can I renew my license in Kathmandu?
You can renew your license from The Department of Transport Management office in Kathmandu.
Where can I renew my license in Pokhara?
You can renew your Driving license from DOTM which is located in the Transport Management Office: Driving License, Prithivi Chowk, Pokhara
Do I need to pay fines for an expired license in Nepal?
You have 3 months or 90 days after your license expires, after this period you will be fined 100% for the first year.
What is the maximum validity of a license in Nepal?
In Nepal, the maximum validity of a Driving License in Nepal is of 5 years.
What document do I need to renew my license in Nepal?
Documents you need to renew your license in Nepal are a citizenship certificate, an expired driving license, and photographs.
Can I renew my license early in Nepal?
Yes, you can renew your driving license early in Nepal.
How to check the status of driving license renewal in Nepal
It is easy to check the status of your license, you can check it on your driver’s license. It has all the information including the expiry date.
How to renew a driving license that has expired more than 90 days in Nepal
You can renew your driving license as usual but as it has exceeded more than 90 days, you will be charged a 100% fine for it.
An initial public offering is the process by which a privately held company becomes a publicly traded company by selling its stock to the general public (IPO). An IPO allows a company to raise funds by selling ownership stakes to a diverse group of investors. It is a method for businesses to obtain public funding in order to support operations or grow.
A company that wants to go public typically hires an investment bank to handle the IPO. The investment bank and the company will work together to determine the appropriate stock price and quantity to be distributed. Following that, the company will file a registration statement with the Securities and Exchange Commission (SEC) detailing its finances and other information.
