BS 2081 Jestha 4
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Gold import at five-year low last FY
Jul 31, 2020
KATHMANDU, JULY 30 As a result of the lockdown imposed to contain the spread of COVID-19 and plummeting demand amid global price surge, import of gold slumped to a five-year low in 2019-20 fiscal which ended recently. Statistics maintained by the Department of Customs (DoC) shows that Nepal imported raw gold worth Rs 13.46 billion in 2019-20, the l...
Investable resources get frozen in banks amid low credit demand
Jul 1, 2020
KATHMANDU, JUNE 30 Owing to the months-long lockdown which has discouraged the demand for credit, the investable budget with banks is not only increasing but also getting frozen. While banks are witnessing a rise in deposits, their credit flow has come down drastically. As a result, a huge amount of investable financial resource has been lying idle...
Banks to adopt austerity measures as COVID-19 hits businesses
Jun 29, 2020
KATHMANDU, JUNE 28 With their financial position being hit and expected to be hit even harder in the coming months due to the COVID-19 pandemic, banks and financial institutions (BFIs) are falling back on austerity measures including not renewing the agreement of those working on contract basis, reducing allowances of staffs and bringing down the a...
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