Tag: fiscal

  • Nepal Rastra Bank Begins Preparations for Fiscal Year 2080-81 Monetary Policy to Boost Economy

    Nepal Rastra Bank Begins Preparations for Fiscal Year 2080-81 Monetary Policy to Boost Economy


    The Nepal Rastra Bank (NRB) has initiated the process of formulating the monetary policy for the upcoming fiscal year 2080-81. In line with the financial budget announcement for the same fiscal year, the central bank has commenced its work on preparing the monetary policy.

    To gather input and recommendations for the monetary policy formulation, the NRB has started accepting suggestions until Ashad 10 at the Department of Economic Research. This step reflects the bank’s intention to incorporate various perspectives and expertise into the policy-making process.

    The recently unveiled budget, presented on Jestha 15, sets a target of achieving a six percent economic growth rate. In order to support the government’s goal, the central bank plays a crucial role by crafting an appropriate monetary policy that provides the necessary support and measures.

    It has been revealed that the NRB plans to unveil the finalized monetary policy during the first week of Shrawan, 2080. The policy is anticipated to address the current economic challenges faced by the Nepali economy, which has been grappling with a recession. A flexible and adaptive monetary policy is expected to be designed to effectively tackle the prevailing economic issues and stimulate growth.

  • Nepal’s Trade Deficit Stands at Rs. 12.04 Kharba for First Ten Months of Fiscal Year

    Nepal’s Trade Deficit Stands at Rs. 12.04 Kharba for First Ten Months of Fiscal Year


    Nepal’s trade deficit for the first ten months of the current fiscal year has remained at Rs. 12.04 Kharba, according to the recently released Nepal Trade Statistics by the Department of Customs. This represents a decrease of 15.85% compared to the trade gap of Rs. 14.31 Kharba during the same period in the previous fiscal year. Both imports and exports have also witnessed a decline of 16.78% and 24.49% respectively when compared to the corresponding period of FY 2078/79.

    During the first ten months of FY 2079/80, Nepal’s imports amounted to Rs. 13.35 Kharba, with petroleum products being the top imported commodity, followed by crude soya bean oil and crude palm oil. On the other hand, the country’s exports reached Rs. 1.3 Kharba, experiencing a significant drop compared to the previous year’s figures.

    It is noteworthy that Nepal’s trade deficit has narrowed in the review period, indicating some improvement in the overall trade balance. However, the decline in both import and export values suggests challenges in the external trade sector, which require attention and strategic measures to promote trade growth.

    Please note that the provided data is based on the first ten months (Shrawan-Baishakh) of FY 2079/80, which corresponds to the period from mid-July 2022 to mid-May 2023.

  • rabhu Life Insurance Limited Revises Dividend Proposal for FY 2077/78 in Response to Regulatory Requirement

    rabhu Life Insurance Limited Revises Dividend Proposal for FY 2077/78 in Response to Regulatory Requirement


    Prabhu Life Insurance Limited (PLI) has made changes to its dividend proposal for the fiscal year 2077/78. Initially, they had planned to distribute a dividend of 10.526%, consisting of 10% bonus shares and 0.526% cash dividend from their paid-up capital of Rs. 2 Arba. However, the Nepal Insurance Authority required the company to revise its proposal, leading to a new plan. The revised proposal includes the distribution of 9.8% bonus shares worth Rs. 19.60 crores and 0.5158% cash dividend worth Rs. 1.03 crores on the paid-up capital of Rs. 2 Arba. Currently, the company’s closing price is Rs. 401.10.

  • Citizen Investment Trust’s Proposal: A 26.3158% Dividend for the Fiscal Year 2078/79

    Citizen Investment Trust’s Proposal: A 26.3158% Dividend for the Fiscal Year 2078/79


    Citizen Investment Trust (CIT) has put forward a proposal to distribute a 26.3158% dividend for the fiscal year 2078/79. The decision was made during a board of directors meeting held on Baisakh 29. The proposed dividend consists of a 25% bonus shares allocation and a 1.3158% cash dividend (for tax purposes). The current paid-up capital of CIT stands at Rs 4,251,000,576.

    It is important to note that the dividend proposal is subject to approval from the Ministry of Finance, Nepal Government, and the upcoming Annual General Meeting (AGM).

    As of the latest trading day, CIT’s closing price stands at Rs. 2,011.

  • Analysis of Nepal Rastra Bank’s Third Quarter Monetary Policy Review for Fiscal Year 2079/80

    Analysis of Nepal Rastra Bank’s Third Quarter Monetary Policy Review for Fiscal Year 2079/80


    The Nepal Rastra Bank (NRB) has recently published its third quarterly review of the monetary policy for the fiscal year 2079/80. The primary objectives of the NRB, as outlined in the Nepal Rastra Bank Act of 2058, are to ensure price and exchange stability for the overall economic stability and long-term growth of the country.

    Considering the prevailing economic and financial conditions, the NRB has formulated and implemented the necessary monetary policies to achieve these objectives. Adhering to the rule of reviewing the economic and financial situation on a quarterly basis, the focus of this review is on the third quarter of the current fiscal year.

  • Garima Bikas Bank Distributes 13% Bonus Shares and Endorses 14.5% Dividend for Fiscal Year 2078/79

    Garima Bikas Bank Distributes 13% Bonus Shares and Endorses 14.5% Dividend for Fiscal Year 2078/79


    Garima Bikas Bank Limited has distributed 13% bonus shares directly to the DEMAT account of its shareholders and has urged them to dematerialize their shares. This was announced after the bank’s 16th AGM where it also endorsed a 14.5% dividend worth Rs. 66.56 Crores for the fiscal year 2078/79. The board of directors meeting held later decided to distribute a 14.5% dividend on the paid-up capital of Rs. 4.59 Arba.

    In addition to the bonus shares, 1.50% cash dividend worth Rs 6.88 Crores was proposed. The bonus shares were already listed in NEPSE. The bank has also requested its shareholders to pay the tax amount for the 16% bonus shares proposed for FY 2077/2078. The details of the tax amount that a shareholder has to pay can be found on the website of the share registrar NIBL Ace Capital Limited.

    The bank’s decision to distribute bonus shares and dividends is expected to benefit its shareholders. The distribution of bonus shares will increase their ownership in the bank, while the dividend payment will provide them with a direct cash payment. The bank has also encouraged its shareholders to dematerialize their shares. This will facilitate electronic trading of shares, making it easier for shareholders to trade them in the secondary market.

  • Imports and exports both fell in the first nine months of fiscal year 1979/80.

    Imports and exports both fell in the first nine months of fiscal year 1979/80.


     

    The foreign trade figures for Nepal for the first nine months of fiscal year 2079/80 have been released. According to government data released on Thursday, Nepal’s trade deficit reduced by 17.06 percent to Rs. 10.83 Kharba from Rs. 13.06 Kharba the previous year.

     

  • For Fiscal Year 2078/79, Nesdo Sambridha Laghubitta revises the dividend rate to 17.9342%.

    For Fiscal Year 2078/79, Nesdo Sambridha Laghubitta revises the dividend rate to 17.9342%.


    The dividend percentage for the fiscal year 2078/79 has been changed from 73.68% to 17.93% by Nesdo Sambridha Laghubitta Bittiya Sanstha Limited (NESDO).

    On Chaitra 09, the board of directors resolved to disburse the dividend on the paid-up capital of Rs. 25.50 crores. There was a proposal for 50% bonus shares worth Rs. 12.75 crores and a cash dividend of 23.68% worth Rs. 6.03 crores.

    The dividend was only to be issued following clearance from Nepal Rastra Bank and approval from the company’s upcoming AGM. According to the NRB’s recommendations, the corporation has increased the dividend from Rs. 25.50 crores to a maximum of 17.93%.

  • There will be no dividend paid to Excel Development Bank (EDBL) shareholders in fiscal year 2078/79.

    There will be no dividend paid to Excel Development Bank (EDBL) shareholders in fiscal year 2078/79.


     

    Excel Development Bank Limited (EDBL) has announced that it will not pay dividends in fiscal year 2078/79.

    The EDBL Board of Directors decided on Chaitra 27, 2079, that no dividends will be paid for fiscal year 2078/79. The financial statements, however, are subject to approval by Nepal Rastra Bank and the company’s upcoming Annual General Meeting.

     

  • Remittance inflows increased by 25.3% to Rs. 794.32 billion in the first eight months of fiscal year 2022/23.

    Remittance inflows increased by 25.3% to Rs. 794.32 billion in the first eight months of fiscal year 2022/23.


     

    Nepal Rastra Bank (NRB), Nepal’s central bank, has released the country’s current macroeconomic and financial situation based on eight months of data ending in mid-March 2022/23.

  • GRDBL proposes a 4% dividend for fiscal year 2078/79.

    GRDBL proposes a 4% dividend for fiscal year 2078/79.


     

    For fiscal year 2078/79, Green Development Bank Limited (GRDBL) has proposed a 4% dividend.

    The board of directors decided to distribute 3.80% bonus shares and 0.20% cash dividend (for tax purposes) from the paid-up capital at its 191st meeting on Chaitra 26. Because the company’s paid-up capital is Rs. 51.90 crores, the bonus shares are worth Rs. 1,97,22,000 and the cash dividend is worth Rs. 10,38,000.

  • For Fiscal Year 2078/79, Samudayik Laghubitta increased the dividend rate to 15%.

    For Fiscal Year 2078/79, Samudayik Laghubitta increased the dividend rate to 15%.


     

    For the fiscal year 2078/79, Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) has reduced the dividend percentage from 21.05263% to 15%.

    Previously, from the paid-up capital of Rs. 13.20 crores, 10% bonus shares worth Rs. 1.32 crores and 11.05263% cash dividend (tax purposes) worth Rs. 1.45 crores were proposed.