KATHMANDU: Khabarhub brings to you a glimpse of major developments of the day in Nepal, including politics, business/economy, sports, entertainment, and more.
Monetary policy 2022/23 unveiled
Nepal Rastra Bank Governor Maha Prasad Adhikari unveiled the much-awaited monetary policy for the fiscal year 2022/23 at 4 pm on Friday through Nepal TV live telecast.
According to Governor Adhikari, the new monetary policy aims to strike a compromise between the need for monetary tightness to uphold financial and economic stability.
The Central Bank may adopt a tight Monetary Policy to slow down overheated economic growth, limit spending in an economy that is seen to be accelerating too quickly, or curb inflation when it is rising too fast.
The government is tightening monetary policy this fiscal due to the slowing economy and the high inflation rate.
Federal, provincial parliament election date to be announced soon: PM Deuba
Nepali Congress President and Prime Minister Sher Bahadur Deuba has said that the date for the upcoming election to the House of Representatives and the Province assembly would be announced soon.
He said so while inaugurating the Nepal Press Union (NPU)’s ninth national general convention in Hetauda on Friday.
PM Deuba shared on the occasion that the government has been making necessary preparations for the same.
UML Chair Oli urges to abandon search of M Adhikari
CPN-UML Chairman KP Sharma Oli has urged not to dig further into M Adhikari of Khotang, who figured in the UML’s finance and planning department as a member.
Stating that Nepali Congress (NC) also had supporters in various government agencies, he asked to abandon search of M Adhikari.
Addressing a program of UML’s policy and research academy on Friday, Oli said that NC was still looking for the person called M Adhikari even though it has been stated that M Adhikari is not Central Bank Governor Maha Prasad Adhikari.
“The UML has been saying. But the NC is still looking for M Adhikari of Khotang or whatever it is searching. The NC must recall its party members are also everywhere. The judiciary has a lot of people of the NC,” he said.
Citizenship Bill passed by House of Representatives
The House of Representatives (HoR) has passed the much-awaited Nepal Citizenship Act, 2063 (First Amendment), Bill 2079.
In the meeting on Friday, the bill was presented for decision after Home Minister Bal Krishna Khand responded to the questions raised by the parliamentarians during the discussion on the bill.
The proposal presented by Minister Khand was passed by a majority.
Nepal sees 456 new coronavirus cases in past 24 hours
Nepal recorded a total of 456 new cases of coronavirus in the past 24 hours as of Friday.
Out of the confirmed cases, 384 were detected through the RT-PCR method and 72 through the Antigen method.
According to the Ministry of Health and Population, a total of 3,838 swab samples were tested in the past 24 hours.
Of them, 2,168 samples were tested through RT-PCR and 1,670 through the Antigen method.
Nepali football team leaves for India to play U-20 Men’s SAFF Championship
All Nepal Football Association (ANFA) on Friday bade farewell to the Nepali Football Team that is going to participate in the U-20 Men’s SAFF Championship in India.
The Championship is scheduled at Bhubaneshwar of India from July 25 to August 5.
Chairperson of All Nepal Football Association, Pankaj Bikram Nembang, Member-Secretary of the National Sports Council, Tanka Lal Ghising, and office-bearers of ANFA bade farewell to the team.
PM Deuba congratulates new Sri Lankan President Wickremesinghe
Prime Minister Sher Bahadur Deuba has congratulated the newly elected President of Sri Lanka, Ranil Wickremesinghe.
Taking to Twitter on Friday, PM Deuba wished the new Sri Lankan President best on behalf of the Government of Nepal and the Nepali citizens.
NEPSE declines by 27 points
The Nepal Stock Exchange (NEPSE) decreased by 27.26 points to 2017.46 on Friday.
The stock market, which decreased by 6 points on Thursday, saw a decline on Friday as well.
Today, while the shares of all groups decreased, the shares of manufacturing, insurance, development bank, hotel and tourism, and business groups decreased by a high number.
Monetary policy aims at limiting loan expansion to 12.6 percent
he Central Bank is set to control loan expansion to the private sector.
The Nepal Rastra Bank (NRB), unveiling the monetary policy for the year 2022/23, aimed to limit the loan provided to the private sector to 12.6 percent. In the previous fiscal, the NRB had set 19 percent as a loan expansion target.
As the loan expansion was high, an increase in imports and trade deficit strained the current and foreign exchange reserves, prompting the Central Bank to control loan expansion.
The NRB has taken a policy to control loan expansion and also shrink the wide money supply in order to control the rising inflation.
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