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Nepal’s focus should be trade facilitation measures along Nepal-India border
Source: RSS

Nepal’s focus should be trade facilitation measures along Nepal-India border

Is Nepal-India relation back on an even keel after recent exchange of high level political visits? If so, what accounts for the persistent anti-Indian sentiments in Nepal? Why is India not keen on trilateral cooperation? And how will India help Nepal resolve the difficulties surrounding Indias decision to ban 500, 1000 denomination notes? These were among the other issues discussed as Subhash Ghim...


Nepse in free fall as market observes excessive selling pressure
Source: RSS

Nepse in free fall as market observes excessive selling pressure

The Nepse benchmark index plunged 58.46 points, or 3.53 percent, to close at 1,599.62 points. The market remained volatile thorough out the trading day as panicked investors, with no apparent reasons, scrambled to offload their shares. KATHMANDU, Nov 20: Nepal Stock Exchange (Nepse) benchmark index nosedived 44.53 points on Sunday (as of 2:35 pm) as the market observed excessive selling pressu...


Uncertainty over fate of demonetized Indian notes fuels illegal exchange
Source: RSS

Uncertainty over fate of demonetized Indian notes fuels illegal exchange

When India Prime Minister Narendra Modi withdrew the legal tender of Indian 500 and 1,000 rupee banknotes on November 8, it was meant to curb black money and corruption, but the move itself has ironically created a new black market -- illegal exchange of those notes held in Nepal. The logic behind the Modis move was that as people exchanging them at authorized bank outlets would have to furnis...


Finance committee discusses Indian govt ban on bank notes with FinMin, NRB governor
Source: RSS

Finance committee discusses Indian govt ban on bank notes with FinMin, NRB governor

The Finance Committee of the Legislature-Parliament on Thursday held a discussion with Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara and Governor of Nepal Rastra Bank (NRB) Chiranjibi Nepal on the latest issues that cropped up after the Indian government banned INR 500 and 1000 bank notes. Deputy Prime Minister and Minister for Finance Krisha Bahadur Mahara, Governor of...


Dahal asks Modi for IC exchange facility
Source: RSS

Dahal asks Modi for IC exchange facility

Prime Minister Pushpa Kamal Dahal has made a phone call to Indian Prime Minister Narendra Modi, requesting him to provide exchange facility for the demonetized Indian currencies in circulation in Nepal. According to the Prime Minister Dahals secretariat, the prime ministers of the two countries held phone conversation where Dahal congratulated Modi for his latest move to crack down on black mo...


Madhes movement made businesses go bust
Source: RSS

Madhes movement made businesses go bust

Majhau village is located close to Mirchaiya, an emerging business hub in Siraha district. Recently, the village was merged with Mirchaiya Municipality. Becoming part of a municipality has not changed the face of the erstwhile village. Majhau locals come to Mirchaiya bazaar for their essential purchases. Most of the youths are away working in the Gulf to help support their families. Unlike m...


Hijacking for Democracy - a documentary upon 1973 hijacking being screened in Melbourne

Any kind of hijacking is not only hated but also a crime. However one hijacking in Nepal, also labeled as Hijacking for democracy, is loved by many Nepalese. In 1973, a plane carrying 30 lakhs Indian currency flying from Biratnagar was hijacked. This plane was hijacked with a mission to bring democracy in Nepal. The leader and the master mind behind the hijack was Late. Girija Prasad Koirala. T...


Nepali teachers languishing in Indian jail appeal for release

Five teachers of the Yuba Secondary School at Jyotinagar in Chitwan, who are languishing in a prison at Maharajgunj in India on the charge of involvement in the transaction of fake Indian currency, have appealed for their release. They have pleaded their innocence. The staffs including teachersAmbika Prasad Ghimire, Jibakhar Dhakal, Krishna Chandra Sapkota, Shiva Bhakta Pandit and Achyut Ghimir...


Lifting ban on IRs 1,000 and 500 spawns fake notes in market
Source: RSS

Lifting ban on IRs 1,000 and 500 spawns fake notes in market

Smuggling of fake Indian currency notes has been increasing in Nepal since the ban on denominations of Rs 500 and Rs 1,000 was lifted, according to police. The ban, which had been in effect for 10 years, was lifted in 2013 at the request of the Indian government. This allowed Indian visitors to Nepal to use Indian bank notes of Rs 500 and 1,000 denominations. Deputy Inspector General Bam Bahadu...


Five held with fake Indian notes worth IRs10 million
Source: RSS

Five held with fake Indian notes worth IRs10 million

The Special Bureau of Nepal Police has arrested six people with fake Indian currency with face value of around IRs 10 million. Those held are Pakistani and Nepali nationals. The kingpin of the racket, Pakistani man Nadin Mohammad, and five Nepalis Ishwar Prasad Sah Teli, Paramananda Yadav, Dil Bahadur Thapa and Mahadev Timalsina were arrested. The culprits were made public amid a press conferen...


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