KATHMANDU: Welcome to Nepal News’ Evening Economic Brief—your go-to source on key financial updates in Nepal. Stay informed with concise insights on market trends, economic indicators, and policy shifts. Here are today’s top highlights:

NEPSE Index Falls Below 2700 as Market Sees Broad-Based Decline: On Monday, Nepal’s stock market index, NEPSE, fell below the 2700 mark. Opening at 2,703 points, the market closed with a drop of 33.33 points, settling at 2,670.

While the share prices of 23 companies increased, 221 companies saw a decline, indicating widespread bearish sentiment. Alongside the fall in the index, the overall transaction amount also shrank. Compared to the previous day’s turnover of NPR 7.84 billion, today’s turnover dropped significantly to NPR 5.65 billion.

All sectoral indices ended in the red. The trade sector recorded the highest loss at 3.1%. Other sectors also saw notable declines: Banking fell by 0.97%, Development Bank by 1.11%, Hotels and Tourism by 1.35%, Finance by 2.26%, Hydropower by 1.37%, Investment by 1.69%, Life Insurance by 0.83%, Manufacturing by 1.42%, Microfinance by 1.03%, Non-life Insurance by 1.22%, and Others by 0.44%.

RSP Chair Sent to Jail in Cooperative Scam: Rabi Lamichhane, the president of the Rastriya Swatantra Party, has been sent to prison. He was presented in the Rupandehi District Court by the police, who then remanded him to the district jail.

After being presented in court, a detention order was issued, and according to the subsequent procedures, Lamichhane is currently undergoing a health check-up. After the health examination, he will be kept in jail. Lamichhane was arrested from his residence in Kathmandu on Friday night and brought to Bhairahawa on Saturday morning. Due to the public holiday, he was held in the custody of the Rupandehi District Police Office for two days.

Nepal Rastra Bank Plans to Withdraw 35 billion Rupees Again: Nepal Rastra Bank is preparing to withdraw 35 billion rupees from the banking system once again. This decision comes as excess liquidity in the banking system is observed. The central bank will withdraw 35 billion rupees from the system on Chaitra 25 (April 7th).

According to the monetary management department of Nepal Rastra Bank, the central bank plans to withdraw the liquidity through a deposit collection tool, which will be in effect for a period of 23 days. Banks and financial institutions interested in investing in this deposit collection tool will be able to apply for the total amount to be raised, with a minimum of 10 million rupees and a maximum of 50 million rupees per institution, ensuring the remaining amount goes unclaimed.

Transport Minister Devendra Dahal Vows Action Against Vehicles Operating Outside Legal Standards: Minister for Physical Infrastructure and Transport, Devendra Dahal, has announced that action will be taken against vehicles operating in violation of standards, in coordination with the Ministry of Home Affairs. Speaking at a discussion with transport entrepreneurs and workers on Monday, he emphasized that the Department of Roads and Transport alone cannot enforce the regulations, making coordination with the Home Ministry essential.

Minister Dahal also stated that ensuring traffic flow around construction sites will be a priority, with proper arrangements for alternative routes and diversions. He highlighted that repair of the BP Highway, which connects Kathmandu with eastern Nepal, have been expedited. Additionally, he mentioned that the repair of the Kanti Lokpath — an alternative route — is also being prioritized.

Insurance Companies Must Focus on Value-Added Services – Chairman Ojha: At the launch of Suryajyoti Care and Suryajyoti e-Loan in Kathmandu, Insurance Board Chair Sharad Ojha emphasized the need for insurance companies to focus on value-added services to attract customers. He highlighted the benefits of term insurance, urging companies to promote it with set targets, just like other policies. Ojha stressed responsible service delivery, credibility in the digital era, and data security. He expressed hope that new services like Suryajyoti Care would help expand insurance coverage and impact the sector positively.

Narayangadh-Butwal Road Project Faces Further Delays Despite Third Deadline Extension: The Narayangadh-Butwal road expansion, funded by the Asian Development Bank and contracted to China State Construction, remains incomplete seven years after its foundation. With three deadline extensions already, the company now seeks a fourth, proposing completion by mid-2026. Only 50 km of the eastern section has been blacktopped so far. Authorities plan partial road closures for 13 km to expedite progress. Costing Rs. 16.99 billion, the delay is attributed to both the contractor and government, affecting thousands of daily commuters.

Kathmandu Metropolitan Employees Receive Delayed Salaries After Administrative Chief Returns:  Employees of Kathmandu Metropolitan City have received their pending salaries after Chief Administrative Officer Saroj Ghimire returned to work, confirmed spokesperson Navin Manandhar. Salaries for all representatives and staff, including Mayor Balen Shah, were disbursed, amounting to Rs. 1.13 billion for 2,900 employees. Some had been waiting for three to six months. The delay followed a dispute between Mayor Shah and Ghimire over the Kathmandu Tower project. Staff had recently escorted Ghimire back into office demanding salary resolution.

Nilam Dhungana Timilsina Appointed as Acting Governor of NRB: Following the completion of Governor Mahaprasad Adhikari’s term, the Ministry of Finance has appointed Senior Deputy Governor Nilam Dhungana Timilsina as the acting governor of Nepal Rastra Bank. According to the Nepal Rastra Bank Act 2058, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel appointed Nilam as the acting governor, as stated by the Ministry.

Business Community in Rupandehi Demands Action Against CAAN DG Over Flight Suspension at GBIA: Following the suspension of international flights from Bhairahwa’s Gautam Buddha International Airport (GBIA), over two dozen business and tourism organizations in Rupandehi have demanded disciplinary action against Pradeep Adhikari, the Director General of the Civil Aviation Authority of Nepal (CAAN).

Local business leaders, under the umbrella organization Siddhartha Network, accused DG Adhikari of making repeated “negative and discouraging” public remarks about the airport’s viability—comments they say directly contributed to the discontinuation of flights. International flights at the airport came to a halt from April 1. Until March 29 (Chaitra 16), the airport still saw some activity, but since then, it has remained largely deserted.

Cooperative, Microfinance, Bank, and Loan Shark Victims Stage Protest in Kathmandu: Victims of cooperatives, microfinance institutions, banks, and loan sharks took to the streets of Kathmandu on Monday, staging a protest march from Shantibatika to the vicinity of the President’s Office in Sheetal Niwas.

The protesters, many of whom have lost savings or are trapped in exploitative lending systems, initially planned to stage a sit-in directly in front of Sheetal Niwas. However, police barred them from entering the restricted zone. Chanting powerful slogans like “End all forms of financial exploitation!”, “Down with political parties protecting financial mafias!”, and “Seize the property of fraudsters who embezzled victims’ savings—compensate the victims immediately!”, the demonstrators expressed growing public anger at what they call systemic financial abuse and government negligence.

SpiceJet to Resume Flights to Nepal After Five Years: India’s airline, SpiceJet, is set to resume flights to Nepal after five years. The airline has announced that it will operate daily flights starting from May 10, 2025 (27th Baishakh, 2082). SpiceJet has appointed Himalayan Global Travel Services Pvt. Ltd. as the “General Sales Agent” (GSA) for Nepal.

SpiceJet will operate a Boeing 737 with a capacity of 189 seats, all in economy class, for the New Delhi-Kathmandu route. The flights will arrive at Tribhuvan International Airport in Kathmandu at 9:55 AM and depart back to New Delhi at 10:55 AM.

13 Banks and Financial Institutions Disburse Nearly NPR 3 billion in Loans via Digital Platforms: In the fiscal year 2080/81, 13 banks and financial institutions in Nepal have disbursed nearly NPR 3 billion (2.98 billion) in loans through digital platforms. According to a report titled “Major Activities and Achievements from 2077 to 2081,” issued by Nepal Rastra Bank, there has been a significant increase in loan accessibility due to the expansion of the digital lending system.

To provide faster, more efficient, and transparent loan services to customers, the “Guidelines for Electronic Loan Disbursement (Digital Lending), 2078” were issued, which emphasize the maximum use of information technology. Under these guidelines, 13 banks and financial institutions now conduct the entire loan process—from application to recovery—using digital technology.

Kathmandu Metropolitan Employees Receive Due Salaries: Following the return of the Chief Administrative Officer (CAO), employees of Kathmandu Metropolitan City have received their salaries.

The employees had not received their salaries for the past three months. Salaries for the past three months have been credited to employee’s accounts. Some employees had not been paid for four to five months.

The CAO, Saroj Guragain, was forcefully entered into his office by Deputy Mayor Sunita Dangol and other representatives, despite objections from Mayor Balen Shah. The window glass was broken during their entry into his office. On Friday, after being forcibly brought into the office the previous day, Guragain immediately took action to release the pending salaries.

Butwal Power to Issue 40% Right Shares: Butwal Power Company has decided to issue 40% right shares for investment in various projects. The decision was made in the company’s board meeting. Additionally, the company has suspended the process of issuing an FPO (Follow-on Public Offering), which was previously initiated.

The company announced the cancellation of the FPO issuance and the decision to proceed with the right shares. Currently, the company’s paid-up capital is NPR 3.40 billion. Based on this, the company will issue right shares worth NPR 1.36 billion.

Hetauda Cement Industry Resumes Production From Today: The Hetauda Cement Industry has resumed production of cement from today after a gap of nearly five months. It is said that cement production, which was halted due to lack of electricity required for the industry, has resumed with the supply of electricity. Officiating General Manager of the Industry, Nabin Kumar Karna, said that the industry needs eight megawatts of electricity per day to crush limestone.

Currently, 1,900 metric tonnes of coal required by the industry has been kept in stock. In the second phase, preparations are underway to procure about 4,000 metric tonnes of coal through the bidding process, Karna said. The factory, established at Lamsure of Hetauda in 2033 BS, was inaugurated after a decade in 2043 BS. At that time, Rs 1.5 billion was invested in Hetauda Industry.

4th National Conference of Accountants to Begin on Tuesday: The 4th National Conference of Chartered Accountants is set to begin on Tuesday. The event, organized by the Institute of Chartered Accountants of Nepal (ICAN), will be held under the theme “Transforming the Economy through Modernization of Taxation and Public Financial Management.”

Throughout the event, accountants, policymakers, academicians, industrialists, and students will engage in discussions and interactions on the modernization of the tax system and public financial management, according to the organizers.

International Transport Conference on April 11-13: The Third International Transport Conference-2025 will be taking place on April 11-13. The theme of the event is “Towards Safe, Sustainable, Efficient and Resilient Mobility.

The event to be organised by the Society of Transport Engineers Nepal aims to collect feedback for formulating polices for sustainable and safe transportation. The event will focus on initiatives for improving the public transport system, making it widely accessible, effective and environment-friendly, said organization Chair Dr Hareram Shrestha.

NIC Asia Bank Opens Investment Applications for Debenture: NIC Asia Bank has opened investment applications for its 10-year debenture. Investors in this debenture will receive a higher return compared to the current interest rates offered on personal fixed deposits. While banks are currently offering a maximum interest rate of 6% on personal fixed deposits, the debenture offers an annual return of 7%. The company plans to issue a total of 5 million debenture units with a face value of 1,000 rupees each. Of this, 2 million units, valued at 2 billion rupees, will be issued to the general public.

Bhairahawa Customs Office Records NPR 14.47 billion in Imports by Magh End: By the end of Magh in the current fiscal year, the Bhairahawa Customs Office has recorded imports worth NPR 14.47 billion. This accounts for 55.26% of the target set for the period. The department has set a target of NPR 109.33 billion in annual revenue collection for the office.

As of the end of Magh, only NPR 6.04 billion in revenue has been collected, but this amount represents a 15.44% increase compared to the previous fiscal year. Currently, the office is collecting revenue at an average monthly rate of 85.70%.

Gold Prices Drop in Nepali Market: The price of gold has decreased in the Nepali market on Monday. According to the Federation of Nepal Gold and Silver Dealers Asociation, the price of gold dropped by 700 rupees per tola on Monday. As of Monday, the price of hallmarked gold is set at 173,800 rupees per tola. The previous day’s price was 174,500 rupees per tola. Similarly, the price of silver has increased by 30 rupees. On Sunday, the price of silver was 1,800 rupees, and on Monday, it rose to 1,830 rupees.