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Business and Corporate

NOC restrained to distribute bonuses

Nepal Oil Corporation (NOC) was directed not to distribute bonuses to the corporation’s employees by the sub-committee of the parliamentary Industry, Commerce and Consumer Welfare Protection on Wednesday until the Bonus Act 1973 was amended. The parliamentary sub-committee also directed NOC to reimburse the money that it had borrowed from …

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Sunrise Bank Branch at Kalikasthan


Sunrise Bank has started a branch in its own building at Kalikasthan, Kathmandu. Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank inaugurated the branch amid a program on May 28. The bank transformed the head office of earlier Narayani National Finance to a branch.  According to the bank, the …

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Siddhartha Devt Bank to be acquired by Janata Bank

Siddhartha Development Bank is set to be acquired by Janata Bank.   A special general meeting of Siddhartha Development Bank held on May 26 approved a proposal regarding the acquisition. The meeting approved the acquisition proposal based on the due diligence audit (DDA) report that fixed a swap ratio of 1:1. …

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NIC Asia appoints two new deputy CEOs


NIC Asia has appointed Roshan Kumar Neupane and Sudhir Pandey as Deputy Chief Executive Officers. The bank is expecting the pair to drive the company forward using their vast experience in the banking business. Neupane started his career in banking more than a decade ago and has worked as the …

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Global IME Bank’s 46th branchless banking service in Kalikot

Global IME Bank has started providing branchless banking service in Kalikot district. According to the bank, it is the bank’s 46th branchless banking unit. The unit has been started in partnership with Sakchyam Access to Finance program, the bank said in a statement. “Customers can get facilities like depositing cash, …

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Siddhartha Bank’s branch at Palpa


Siddhartha Bank has started a branch at Tansen, Palpa. Mahesh Prasad Pokharel and Bhagat Bista, Directors of the bank jointly inaugurated the branch amid a program on May 28. According to the bank, the branch will provide overall banking services. Presently, the bank is providing its services through 70 branches, …

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Gen Thapa next CoAS?

Purnachandra Thapa

By Our Reporter The government extended the tenure of the Chief of General Staff (CGS) Gen Baldevraj Mahat and Chief of Staff (CoS) Gen Purnachandra Thapa. Mahat was going to be retired on 23 July this year if the government had not extended his tenure. Mahat’s tenure has been extended …

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Yeti Airlines and UNDP inks deal to promote SDGs


A Nepali domestic airlines company, Yeti Airlines and United Nation Development Program (UNDP) has inked a new agreement. Renaud Meyer, Country Director, UNDP Nepal and Umesh Chandra Rai, CEO of Yeti Airlines signed the agreement paper. Yeti Airlines and UNDP made the agreement regarding promotion and achievement of sustainable development …

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