Nepal Economic Digest (August 15, 2020)


August 15, 2020


Nepal Economic Digest (August 15, 2020)

KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.

Deepak Kumar De appointed Nepal SBI Bank CEO

Deepak Kumar De has been nominated as the Chief Executive Officer (CEO) of Nepal SBI Bank. He was appointed to the post by the 452nd meeting of the Board of Directors of the bank held on Wednesday.

De is currently serving as Deputy General Manager of State Bank of India De will be replacing current CEO Anukool Bhatnagar.

Ncell introduces ‘Ultra WIFI SIM plus’ service

Ncell, a mobile service provider in Nepal, has introduced an ‘Ultra WIFI SIM plus’ service targeting the fourth generation.

Ncell Axiata Limited has made this service available in all the countries equipped with 4G long term evolution network, said the company. This SIM card includes 40 GB of data volume bundle for customers for a month.

Apart from the data bundle, the customers will receive two SIM cards for WIFI service. Besides, the customers will also enjoy digital content bundle among others services every month under this scheme.

Sunrise Bank contributes Rs 7.9 million to COVID-19 Fund

Sunrise Bank Limited has provided Rs 7,944,476 to the Government of Nepal for the prevention and control of the coronavirus infection.

The bank stated that member of the Board of Directors of the bank Sharada Sharma Pudasaini handed over the check bearing the amount to Finance Minister Dr. Yubaraj Khatiwada to be deposited in the government’s Coronavirus Infection Prevention, Control and Treatment Fund on Friday.

Chief Executive Officer Janak Sharma Poudyal and Deputy General Manager Aarti Rajyalaxmi Rana were also present on the occasion.

The bank is confident that the money provided will help in the prevention and treatment of the coronavirus infection.

Speaking on the occasion, Finance Minister Dr. Khatiwada thanked the bank, adding that the assistance provided by the bank was a commendable example of corporate social responsibility. He said that the government would use the money for the prevention and control of coronavirus.

Shops at Bishal Bazaar area closed after trader tests COVID-19 positive

Shops at New Road area, a major marketplace of Kathmandu Valley, has been closed after it was found that a trader has contracted the coronavirus. Shops from Bishal Bazaar of New Road to Indra Chowk in Kathmandu Metropolitan City-24 have been shuttered following an instruction from the ward office.

The ward office has called to close all the shops in the area until August 27.

“Since it is very important to control the coronavirus infection in the New Road area, it is requested to close the shops from Juddha Salik to Indra Chowk from August 14-27 and help to prevent the spread of coronavirus infection,” reads the notice issued by the ward office on Friday.

NRB introduces new Rs 1,000 note

For the first time in the history of Nepal, Nepal Rastra Bank (NRB) has introduced new Rs 1,000 note, which can be easily identified by the visually-impaired people.

All new Rs 1,000 note, introduced by NRB on July 22, has the letter ‘M’ at the bottom its right side. The said letter can be easily identified by visually-impaired people by touching.

The left side of the bill has a picture of Mt Everest – the highest peak in the world. Likewise, the right side of the bill has a picture of rhododendron – the national flower of Nepal. NRB claims, the new note to be the first of its kind in South Asia.

The new note is machine readable with highly-secure security thread. A total of 310 million units of new Rs 1,000 notes have been printed by the central bank. The central bank paid Rs 3.37 each to print the bank notes.

(Compiled and prepared by Nitish Lal Shrestha)

Nepal Economic Digest is a daily morning email digest, basically relatable summations of the most important business news, happenings from Nepal into easy-to-understand summaries.

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