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  • Mahalaxmi Bikas Bank introduces new home and business loan schemes, lowering the interest rate to 12.99% with a special service charge discount.

    Mahalaxmi Bikas Bank introduces new home and business loan schemes, lowering the interest rate to 12.99% with a special service charge discount.


     

    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.

  • How to Renew Driving License in Nepal

    How to Renew Driving License in Nepal


    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.

    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)

    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

    1. Citizenship original and photocopy
    2. 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.

  • How to transfer balance in NTC

    How to transfer balance in NTC


    If you’re seeking for a simple way to transfer your NTC balance, you’ve come to the perfect location. We will lead you through the procedure step by step in this blog article. So, whether you want to top up your phone or transfer money to a buddy, we’ll teach you how to do it fast and easily.

    This post will show you how to quickly transfer your balance from NTC to NTC. We’ll also give you some pointers on how to get the most out of your NTC service.

    How To Transfer Balance In NTC

    You can transfer your balance in NTC in different ways. You can transfer your balance in NTC via different methods. We will discuss two methods in this blog post.

    You can transfer the NTC balance without a security code. And, also there is another way to transfer the balance where you have to provide your valid security code.

    How to Get the Security Code of NTC?

    To transfer balance NTC to NTC you have to require your security code. If you know the security code of the sender’s NTC card, You can proceed instant balance transfer to NTC. but, if you don’t know your security number, here is the complete guide on how you can get that.

    To Get the Security Code of NTC, follow this process:

    1. Open the messaging app on your phone.
    2. Type SCODE as content
    3. Send it to 1415
    4. Wait for the reply

    You’ll get an instant reply “Dear customer, your password is being reset.”

    After a few seconds you’ll get another reply from the telecom, “Dear Your Name, the password reset has been completed according to your request. Your new password is ********. If you need further support, please contact”

    “Our customer service staff –**-***-****   **:**:**”

    After receiving your security code for the NTC sim card, you can use this code to transfer the balance in NTC to NTC.

    Note: Your security code is always 8 digits long.

    NTC Balance Transfer Through USSD

    After you know your security code, follow these steps for a successful NTC balance transfer.

    1. Open the call-dialing keypad on your phone
    2. Type *422*
    3. Enter the security code
    4. Type *
    5. Now, enter the NTC number where you want to transfer the balance
    6. Type again
    7. Enter the amount you want to transfer
    8. Type #
    9. Now, press the call button

    Congratulations!! You have successfully transferred the balance.

    You’ll get a notification on your messaging app “*** Rupees has been successfully transferred to 98********”

    NTC Transfer Balance Via NT App

    You can transfer your balance in NTC via the NT App. To do this, you will need to have the NT App installed on your phone. Once you have the NT App installed, you will need to open it and sign in. Once you are signed in, you will see your balance at the top of the screen.

    You can download the NT app from the google play store and apple store. This is the best and fastest way to NTC balance transfer. You can transfer NTC balance without a security number.

    Follow this process to transfer the balance in NTC using NT App:

    1. Open the NTC app
    2. Click the Red Button that says Transfer Balance
    3. Enter the destined prepaid NTC mobile number
    4. Enter the amount you want to transfer
    5. Click OK
    6. The OTP will be asked and at the same time will be sent to your number.
    7. Validate the OTP

    You have successfully transferred the balance into the number!!

    You can do the process of NTC balance transfer using the NT App. NTC to NTC balance transfer can be done without a security code in NT App. If you want to transfer your NTC balance without a security code, use NT App Online. If you don’t have internet connectivity you can also use this app offline to transfer your NTC balance.

  • Higher Operating and Interest Expenses Caused a 95.81% Drop in Ridi Power’s Net Profit Company to Issue 50% Right Shares

    Higher Operating and Interest Expenses Caused a 95.81% Drop in Ridi Power’s Net Profit Company to Issue 50% Right Shares


    Ridi Power Company Limited (RIDI) reported a 95.81% decrease in net profit in the second quarter (Q2) of the current fiscal year 2079/80. Profit declined to Rs. 1.96 crores in this quarter from Rs. 46.98 crores in the previous year’s equivalent quarter.

    In this quarter, the firm recorded total income of Rs. 18.92 crores, a 71.94% reduction from the previous year’s similar period.

    According to management, there has been no substantial change in the organization’s balance, income, or liquidity during this quarter. The operations are carried out in accordance with the company’s business plan. During this quarter period, as the company’s interest climbed, the income decreased, and it is projected that the profit will improve when the interest expenditure reduces in the future days, and the income will improve from the following quarter.

    It has a reserve resource of Rs. 50.25 crores and a share capital of Rs 1.10 Arba. For Fiscal Year 2078/79, the corporation additionally proposed 40% bonus shares worth Rs. 44,25,43,200 and a 2.10% cash dividend (including tax) of Rs 2,32,33,518. The firm has capitalized these extra dividends, resulting in an increased paid-up capital of Rs. 1.54 Arba.

    Furthermore, the business intends to issue 77,44,506 rights shares (1: 0.50 ratio right shares) to shareholders. Following SEBON clearance, this will be given from the paid-up capital of Rs. 1.54 Arba.

    Its annualized earnings per share are Rs 3.56, its net value per share is Rs 145.43, and its P/E ratio is 153.94.

  • Is bitcoin banned in Nepal?

    Is bitcoin banned in Nepal?


    Ban of Transaction of Bitcoin and other cryptocurrencies in Nepal.

    The central bank of NepalNepal Rastra Bank (“NRB”) published a notice pursuant to Nepal Rastra Bank Act 2001 (“NRB Act”) and Foreign Exchange (Regulation) Act 1962 (“FERA”) prohibiting the usage of Bitcoin in Nepal. NRB has not recognized Bitcoins as a valid currency in Nepal.

    A few highlights on the ban:

    1. Laws of Nepal: The Nepal Rastra Bank, Nepal’s central bank, highlighted two laws in its statement banning Bitcoin and its transactions: the foreign exchange statute of 2019 BS and the Nepal Rastra Bank Act of 2058 BS. It basically means that you can’t do bitcoin transactions or use bitcoin to swap foreign or Nepali currency in Nepal because bitcoin isn’t classified as a currency by the Nepali government, therefore utilizing the internet for bitcoin transactions or exchange is unlawful.
    2. Lack of regulations: NRB and Nepal govt is unable to have proper regulation over bitcoin transactions, as it’s mostly done over internet and Nepal doesn’t yet have the technology needed to regulate it, and hence it may be banned.
    3. Use in illegal activities: Reports of bitcoin being used for money laundering or making black money into white by converting into Bitcoin, among other cases is another reason.
    4. Damage to Nepali economy: Bitcoin transactions unlike other banking transactions can’t be taxed, so there will be loss of revenue, plus if more Nepalis use bitcoins, the monetary system of Nepal may be affected, Bitcoin is also a very volatile currency with lots of ups and downs and long term it can cause severe problems. NRB is tasked with maintaining the financial stability of Nepal and maybe it felt, bitcoin was a threat.

    These are only a few of the reasons, in my opinion, why bitcoin is prohibited in Nepal. The existing Nepali laws prohibit it, and the central bank believes that bitcoin cannot be effectively regulated, that it can be used for unlawful purposes, and that it will harm the Nepali economy in the long run. The Nepalese government has recently taken tough measures against bitcoin transactions, including arresting people who were mining bitcoin or had large amounts of bitcoin, shutting down Nepal’s largest bitcoin exchange operator Bitsewa and arresting its owners, and even arresting a Nepali politician from a minor party for bitcoin trading.

  • What is Domaining? How to Begin a Domain Name Business

    What is Domaining? How to Begin a Domain Name Business


    For those who are unfamiliar with the domaining business, it entails buying, selling, developing, and monetizing domain names. It is, in fact, a BIG business with the potential to earn you a million dollars. You may not believe me, but when you consider that AsSeenOnTv.com was sold for $5.1 million, Autos.com was sold for $2.2 million, Express.com was sold for $1.8 million, and so on.

    It’s a million-dollar business, but it’s not just about big names; expert domainers frequently make $10,000 or $100,000 on unknown domains as well. With so many new domain name extensions entering the market and so many businesses closing down and abandoning premium domain names on a daily basis, the industry is constantly growing. This expansion brings with it an ever-increasing potential for success, but it also brings with it a slew of new challenges.

    This article will go over a few important checklist items to think about when starting a domaining business from scratch.

    1- Recognize that you will need some money to make more money:

    Yes, money is required to start a domaining business, and it can range between $100 and $100,000. Successful domainers typically own a large number of domains to build their portfolio, but you can begin with a small number. A lot depends on the business model you choose, and your financial needs will vary accordingly.

    2- Skills Required

    To be honest, you don’t need any specific skills, but you should be eager to learn, gain experience, and grow. The best way to learn about domaining is to do it yourself. To be successful in your domaining business, you will need experience, which you will gain through experimentation and learning from relevant domaining resources such as Purely Space. Never close the doors to learning, and you will find success!

    3- Be Aware of and Understand the Risk:

    In reality, no business is risk-free, and domaining business is no exception. You must be aware of the various types of risks associated with the domaining business, such as domain marketplace scams, the value of.com names (or other top-level domains) decreasing for various reasons, typosquatting popular companies can result in a lawsuit from the company, and so on. Domaininvesting.com has correctly described the five types of risks associated with the domaining business.

    4- Avoid the Wrong Ways to Make Money from Domaining:

    Every business has ethical and unethical ways to make money, and the domaining business has some unethical ways to make money as well. It is critical to be aware of and avoid these bad habits. The following business models should be avoided:

    • Domain hijacking is the process of stealing an internet domain name from its rightful registrant.
    • Cybersquatting is the practice of registering domain names in bad faith in order to profit from the goodwill of a trademark that you do not own.
    • Typosquatting occurs when you register domains that closely resemble popular domains, such as Goolge.com, MciroSoft.com, and so on, with the intent of gaining traffic and possibly selling the domain at a higher price. It may not be illegal, but it increases the likelihood of a lawsuit from the companies.

    5- Discovering the Most Profitable Strategy:

    If you are serious about getting into the domaining business, the best option is to go the legal route, which is both risk-free and highly rewarding. Here are some of the most successful domaining business models.

    1. Domain monetization is one of the best business models because it is low risk, completely legal, and can yield massive profits. You purchase domains, create strategies to profit from the traffic they generate, and then sell the site for anywhere between 12 and 24 times the site’s monthly revenue + brand price.
    2. Another business model is domain development, in which you buy brandable domains, add a website and a service to the domain, and capitalize on traffic until you sell the domain name and its service.
    3. Domain capitalization is a risky business model, but if you’re good at valuing domains, it can help you sell the next million dollar domain. For example, if you purchase fitandtrim.com with the expectation that a product or service with that name will be released sometime in the future, you are the only person who can purchase this domain.

    In conclusion:

    Make sure to choose the right business model before you begin your domaining venture. Take some time to learn about all of the different business models and then select the one that suits you best. Experienced domainers run multiple business models at the same time, but as a newcomer, it’s best to start with a single direction.

  • 7 Stock Market Investing Tips

    7 Stock Market Investing Tips


    Have you decided to invest in the stock market? Consider these 7 stock market investing tips when making your investments.

    1. Have a solid comprehension of basic economic principals.

    Before you get started, you should understand basic principals and laws of economics. The stock market closely follows the law of supply and demand. For example, when there is a large demand for the stock of a certain company, the cost of its stock will increase along with the demand. However, if there are more stock available for sale than there are buyers, the unit price of that company stock will decrease.

    2. Learn about prospective companies you want to invest in.

    Do your homework before you invest in prospective companies. Read the company annual report and find out about their products, operations, services and basic business track record. This information gives you an idea of how stable the company is and whether they can deliver on their promise to offer profits to investors.

    3. Select companies with staying power.

    There are so many companies that exist in today’s stock market, selecting becomes a major decision for beginning investors. Relatively stable companies and business are owned by the government, unless there is a political revolution or crisis going on. Gasoline companies and telecommunications companies are usually profitable and stable because there is a constant demand for their services and products. While IT companies are rapidly growing in today’s stock market, there are so many of them it may be a challenge to check their profiles to exercise reasonable care before investing. Before putting your money into an IT company, verify their track record and make sure they are stable and profitable for a minimum of 10 years.

    4. Keep an eye on the news.

    Guesswork is completely ineffective when it comes to investing in the stock market. Good intuition and solid decision-making come from learning about global and local news both politically and economically. When you watch the news, make sure to keep track of the industry your company is in. Even stable companies may go bankrupt or have a major blow that will bring them down.

    5. Don’t put all your eggs in one basket.

    Avoid investing in just one company and spread out your stock investments to several businesses. When you have stock concentrated in just one company, you have a greater chance of losing it all. When you spread out your investments over several companies, those earning profits can cushion the ones that not not as profitable.

    6. Stockbrokers aren’t the final word.

    A stock broker is actually gambling with your money so you need to do your own homework. Dishonest brokers can take advantage of investors who do not fully comprehend how the stock market works.

    7. Greed is your enemy.

    While everyone is eager to make profits in the stock market, an investor loses their sense of reason when they are fueled by greed. A money hungry investor may forget to check on economic rumors and spontaneously decide to sell or buy with the thought of making major profits and then lose it all.

    Putting your money in the stock market can of course be risky, but the above stock market investing tips should help point you in the right direction.

  • Is cryptocurrency legal in Nepal?

    Is cryptocurrency legal in Nepal?


    So far, cryptocurrencies are illegal in a few countries, whereas the rest of the world either sees it as fitting to utilise these ‘monies’, or keeps them in a grey area of financial law. Similarly, though most countries in the world do not criminalise cryptocurrencies, they have yet to define their usage as monies or commodities, thus making varied classifications all over the world.

    Is cryptocurrency legal in Nepal? 11

    Nepal Rastra Bank has already made it clear in its notice dated August 13, 2017, that all transactions related to or regarding Bitcoins are illegal. But it allied Bitcoins to “Foreign Exchanges”, though cryptocurrencies have no foreign central authority to regulate them. This is where the confusion is. Bitcoin is a decentralised digital currency that is traded from one individual to the other, not through banks. It has no issuing or regulating country, and these bitcoins are converted into US dollars simply because dollars are used as an international exchange rate.

  • The Use of Stock Investment Tools

    The Use of Stock Investment Tools


    In days past, stock market information was limited and often buyers depended on stockbrokers to try to get the facts about investments. Today there are a variety of stock investment tools to assist modern investors and maximize the amount of information they can find about potential investments and trading activities.

    The widespread use of the Internet puts a wealth of information at your fingertips right away. The Internet has facts about many publicly listed companies in the United States. Certain websites provide free research information, which may be rather general in nature but still useful to beginners. Other companies publish in-depth research reports outlining the activities of listed companies. These detailed reports may only be offered through a subscription, which may be an expensive choice for retail based investors. Based on the quality of the research provided about the company, such detailed reports may wind up costing hundreds or even thousands of dollars.

    For simple background facts, stock investors can peruse news articles, analyst reviews and research reports intended to supply fundamental company information. This basic information can come from analyzing previously published financial reports or catching up on current news events regarding the company’s activities. This fundamental research can be a place to start to obtain more information so investors can adequately analyze the data to make educated investment decisions.

    Investors can also take advantage of a variety of stock investment tools that offer management or raw data including current stock quotes, index performances or historical price data. Such tools may be purchased from a software company and then installed in computers. These tools assist in gathering, processing and analyzing raw data so the information is more useful to the investor.

    For example, an investor can take raw data of the historical closing prices of certain companies and run it through investment software to find out additional information such as the volume of stocks traded on a particular company for a said period of time or the historical price trend of one company compared to an index of other companies. These stock investment tools generate reports that assist investors in developing more effective trading strategies from the raw data they originally had.

    Certain stock investment tools purchased from various software companies may cost hundreds of dollars. This type of pricey investment may not be practical for small scale investors looking to make a profit right away. Individual or beginning investors can take advantage of analysis tools on the Internet made available from stock market companies for free to their clients. These tools are also made available for free to online investment clients to help them develop their trading strategies to try to achieve profits.

    Efficient stock investment tools, research products and information are readily accessible on the Internet for your convenience. However, it still requires data gathering, interpretation of analysis and careful planning to ensure successful trading. By using some online tools and careful analysis of the data, investors can develop viable trades for long term investment growth.