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Lawmakers Seek Major Overhaul of NRB Leadership and Board Structure

Lawmakers have proposed sweeping amendments to the Nepal Rastra Bank (Third Amendment) Bill, seeking to reform the central bank's leadership selection process, strengthen institutional independence, enhance transparency, and ensure greater inclusiveness in its Board of Directors.

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Lawmakers Seek Major Overhaul of NRB Leadership and Board Structure

Several lawmakers have registered amendments to the Nepal Rastra Bank (Third Amendment) Bill, 2083, proposing significant reforms to the appointment of the Governor, Deputy Governors, and the structure of the central bank's Board of Directors. The proposals aim to reduce political influence and institutional syndicates while strengthening the autonomy, professionalism, and transparency of Nepal Rastra Bank (NRB). Among the key recommendations is expanding the Deputy Governor selection process to include qualified economists and banking experts from outside the central bank, ending the long-standing practice of limiting appointments to senior NRB officials. The proposed amendments also seek to prevent conflicts of interest by barring the Finance Secretary and current or recently retired commercial bank CEOs from serving on the NRB Board. In addition, lawmakers have called for mandatory female representation on the Board, a reduction of the Governor and Deputy Governors' tenure from five years to four, and the introduction of a cooling-off period before former senior officials become eligible for the Governor's post. The governance-related proposals have emerged as one of the most debated aspects among the 77 amendments registered to the bill and are expected to play a central role in upcoming parliamentary discussions.

SEBON Approves 50% Right Share Issuance of NIC Asia Bank Worth Rs 7.45 Billion

The Securities Board of Nepal (SEBON) has granted preliminary approval to NIC Asia Bank Limited to issue 50 percent right shares at a 1:0.50 ratio. The bank will issue 74,587,835 shares worth Rs 7.45 billion at a face value of Rs 100 per share.

NRB to Sell Gold Coins and Silver Medallions for Tihar from November 5

Nepal Rastra Bank (NRB) will sell 2.5-gram gold coins and 10-gram silver medallions featuring Goddess Laxmi and Lord Ganesh on November 5 and 6 (Kartik 19 and 20) from its Minting Division in Babarmahal, Kathmandu.

Himalayan Laghubitta Proposes 5% Dividend for FY 2082/83

Himalayan Laghubitta (HLBSL) has proposed a 5% dividend for shareholders, comprising 4.75% bonus shares and 0.25% cash dividend for the fiscal year 2082/83.

Rastriya Banijya Bank Reports 175.52% Growth in Q1 Net Profit

Rastriya Banijya Bank Limited has reported a remarkable 175.52% year-on-year growth in net profit, earning Rs. 1.64 billion in the first quarter of FY 2083/84, compared to Rs. 598.73 million in the corresponding period of the previous fiscal year. The significant growth was driven by a sharp increase in net interest income and a substantial decline in impairment charges.

Kumari Bank Reports Rs. 1.07 Arba Net Profit in Q1; Operating Profit Jumps 32.39%

Kumari Bank Limited (KBL) has reported a modest 1.70% year-on-year growth in net profit, earning Rs. 1.07 billion in the first quarter of FY 2083/84, compared to Rs. 1.06 billion in the corresponding period last fiscal year. Despite a decline in net interest income, the bank recorded strong growth in operating profit, supported by a significant reduction in impairment charges and operating expenses.

NMB Bank Reports 27.11% Growth in First-Quarter Net Profit

NMB Bank Limited has reported a 27.11% year-on-year increase in net profit, earning Rs. 1.16 billion in the first quarter of FY 2083/84, compared to Rs. 915.98 million in the corresponding period of the previous fiscal year. The growth was supported by higher operating income, increased net interest income, and a significant decline in impairment charges.