KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The move by Nepal Rastra Bank (NRB) to withdraw an additional Rs. 30 billion from the financial system are indicative of the central bank’s ongoing efforts to manage surplus liquidity in the market.
This action, set to be executed through a bidding process, aims to regulate the flow of money and ensure economic stability.
Despite this move, NRB still has Rs. 144 billion pending maturity, reflecting its continuous efforts to control liquidity while balancing market dynamics.
Alongside this, the Nepal Stock Exchange (NEPSE) showed a modest increase, and gold prices saw a slight rise, signaling a volatile market.
Moreover, the launch of an IPO by Nepal Micro Insurance Limited and the expansion of Everest Bank’s branch network in Koshi Province highlight the growing financial sector activity, emphasizing ongoing efforts to support both investment opportunities and regional economic development.
NRB to withdraw additional Rs. 30 billion from market
Nepal Rastra Bank (NRB) plans to withdraw an extra Rs. 30 billion from the financial system to control surplus liquidity.
The central bank will execute this move through a bidding process, inviting banks and financial institutions to take part.
This action is part of NRB’s continuous efforts to regulate the flow of money in the market. At the same time, Rs. 144 billion that NRB had previously absorbed is still awaiting its maturity date.
NEPSE ends the day with an 11.66-point increase
The Nepal Stock Exchange (NEPSE) on Sunday saw a modest increase, gaining 11.66 points (0.42%) to close at 2,755.40, following a previous rise of 3.14 points.
The trading session began at 2,724.09, with the index fluctuating between a high of 2,768.90 and a low of 2,690.42.
The total turnover for the day reached Rs. 11.54 billion, with 21,206,005 shares exchanged across 328 companies through 108,913 transactions.
Gold price up by Rs 300 per tola
After dropping by one thousand rupees per tola on Friday, the price of gold increased on Sunday. In contrast, silver became less expensive.
Gold gained three hundred rupees per tola, bringing its price to one lakh seventy thousand three hundred rupees per tola.
On Friday, the price of gold stood at one lakh seventy thousand rupees per tola in the Nepali market.
Nepal Micro Insurance launches IPO of 18.45 lakh shares for public
Nepal Micro Insurance Limited has begun offering 18,45,000 units of IPO shares at a face value of Rs. 100, starting on Sunday.
The issue will close on February 27.
Of the total 22,50,000 units, 10% (2,25,000 units) have been set aside for Nepali citizens working abroad, 3% (67,500 units) are reserved for the company’s employees, and 5% (1,12,500 units) are allocated to mutual funds.
The remaining 18,45,000 units are now open for subscription by the general public.
Everest Bank expands presence in Koshi Province
Everest Bank Limited inaugurated its 130th and 131st branches in the eastern hilly regions of Koshi Province, located in Phidim Municipality (Panchthar) and Phungling Municipality (Taplejung).
With the opening of these branches, Everest Bank is optimistic about supporting the region’s economic growth and plans to extend its reach to other underserved areas.
The bank now serves over 1.4 million customers through its network of 131 branches, 167 ATMs, and modern banking options like mobile and internet banking.
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