AGP Executive Report
Last update: 8 hours agoNepal–India Digital Payments: India and Nepal have formally launched a P2P cross-border remittance system, linking India’s UPI with Nepal’s NPI for instant, real-time transfers via mobile apps and digital wallets. Banking & Liquidity: Nepal Rastra Bank data shows BFIs’ deposits rose 9.4% to Rs 7,949.28 billion in the first 10 months, while private sector credit grew 5.7% to Rs 5,809.71 billion. FX & Sovereign Wealth Fund: Foreign exchange reserves crossed Rs 3.7 trillion (mid-May), and NRB has started a study to set up a sovereign wealth fund to invest excess reserves. Market Mood: NEPSE fell 8.14 points to close at 2,728.03; turnover was Rs 1.56 billion. Tax & UN Staff: Nepal moved to tax locally recruited staff of UN agencies, international organisations and diplomatic missions under a new Finance Bill provision, while diplomats with Vienna Convention exemptions remain unaffected. Food & Prices: Sugar prices jumped about Rs 15/kg after India’s export ban, but Nepal says stocks are adequate for around six months; consumer groups urge proactive import planning. Aviation & Tourism: flydubai announced a new daily Pokhara–Dubai service from Sept 23, boosting direct UAE access to Nepal’s tourism hub. Agriculture Support: Government introduced a Minimum Support Price directive to set prices for major crops before planting/harvest, aiming to protect farmers’ margins. Corporate/Finance Cases: Banking offence and money-laundering cases involving Deepak Bhatta and others are moving through courts, with claims running into billions of rupees.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.