Nepal Financial News

Subscribe to enjoy similar stories. New Delhi: Robust sales growth recorded by the Indian government’s generic pharmacy model will put pressure on trade margins in the retail medicine market because of the affordability and quality of the drugs sold, a top official said. The quality certified generic medicines sold at kendras (centres) operating under the Pradhan Mantri Bharatiya Janaushadhi Pariyojana (PMBJP) help to moderate the prices of medicines and create a benchmarking effect, Arunish Chawla, secretary of the Department of Pharmaceuticals, said in an interview toMint.

Hinduja Group firm IIHL for acquisition of debt-ridden Reliance Capital Ltd (RCAP), sources said. DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd (IIHL) are residents of Hong Kong, a special administrative region controlled by China. According to Press Note 3, if an entity from a nation sharing a land border with India (China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan), or if a citizen or permanent resident of any such country is the beneficial owner of an investment in India, they are required to pursue investment through the government approval route. According to sources, the green signal from the DPIIT will help take forward the resolution plan submitted by Mauritius-based IIHL, which emerged as the successful bidder by submitting Rs 9,861-crore bid for the debt-ridden financial firm.

regional cross-border connectivity, Union minister Manohar Lal jointly inaugurated electricity transmission from Nepal to Bangladesh, along with Bangladesh power adviser Md Fouzul Kabir Khan and Nepal power minister Dipak Khadka through a virtual event. This historic occasion marks the first trilateral power transaction, which has been carried out through the Indian grid. New Delhi had announced its decision to facilitate the first trilateral power transaction from Nepal to Bangladesh through the Indian grid, with an export of up to 40 MW of power during the visit of the then prime minister of Nepal, Pushpa Kamal Dahal 'Prachanda', to India in 2023.

Sarna Dharma Mahasammelan in Lugu Buru, Gomia, in Bokaro district. The three-day international Sarna religious conference is organised every year and attended by Sarna followers from Bangladesh, Nepal, Assam, Bihar, Odisha, MP, West Bengal and other places. Soren, who has been attending this function every year, took time out in the middle of the election campaign to offer prayers at the conference. «A symbol of the unwavering faith of the Santhal community, he prayed at the sacred place Lugu Buru Ghanta Bari Dhorom Gadh and prayed for the happiness, peace and prosperity of the people of the state. May the blessings of Lugu Baba and Lugu Ayo remain on everyone,» Soren posted on X.

Manohar Lal Khattar, jointly inaugurated the first trilateral power flow transaction from Nepal to Bangladesh through a virtual event hosted by Nepal's Ministry of Energy, Water Resources, and Irrigation on Friday. Kahattar, along with Md Fouzul Kabir Khan, adviser of Bangladesh's Ministry of Power, Energy, and Mineral Resources, and Nepali Minister of Energy, Water Resources, and Irrigation Dipak Khadka, inaugurated the power flow transaction, which had been carried out through the Indian grid. According to a press statement, the power transaction from Nepal to Bangladesh, through the Indian grid, will export up to 40 MW of power.

Ammunition cartridges were found in the pocket of a seat on an Air India flight AI916 flying from Dubai to New Delhi after it landed at New Delhi airport, an Air India spokesperson said on Saturday. The flight landed at New Delhi Airport on October 27 and all the passengers were safely disembarked from the flight. Following this, a complaint was lodged with the Airport Police by Air India strictly adhering to the laid down security protocols.

mule accounts is biting into the domestic money remittance industry, as business correspondents (BCs) who process such transactions via their physical agent networks are finding their accounts being frozen by law enforcement agencies that are on the money trail of fraudsters. According to three industry executives who spoke on the condition of anonymity, fraudsters are using the accounts of BCs, depositing money at their agent outlets and getting it transferred to multiple accounts through tranches and sometimes even to outside the country via Nepal. In most cases, the final destination is a mule account, and the depositor is a fraudster who would have collected the funds from cybercriminals or fake crypto apps. As police investigate such fund movement, they freeze accounts on the money trail and BCs are becoming collateral damage in the process, industry insiders said.

Amit Shah said on Sunday that infiltration at Indo-Bangladesh border will stop completely if BJP comes to power in the state in 2026. Lashing out at the Trinamool Congress-led government over corruption, Shah said the funds sent by the Modi government are routed to corrupt Trinamool leaders. “Mamata Didi talks about injustice in MGNREGA. You (Mamata) were part of UPA. But now in the NDA regime, Modi, in the last ten years, has sent Rs 56,000crore for NREGA. When Modi sends money, it goes to corrupt TMC leaders. Where does this money go? Did the money go to people or Trinamool Congress.” Shah hit out at INDIA Alliance as well during his speech. He also assured that “Achhe Din” will come to Bengal after counting of 2026 assembly polls is completed and BJP comes to power. “Peace will come once infiltration stops. Partnership with neighbouring countries like Nepal, Bangladesh, Myanmar in terms of business and cultural aspects will be enhanced. In terms of progress, several initiatives can be possible,” Shah said as he inaugurated the Passenger Terminal Building and Maitri Dwar at Land Port in Bengal's Petrapole today.

Himanshu Bhau, Annu Dhankar, was arrested near the Nepal border at Lakhimpur Kheri in Uttar Pradesh, police claimed on Friday, denying reports that she had surrendered to the cops. The 'lady don' was wanted in connection with the murder of Aman Joon, an alleged sympathiser of a rival gang, at the Burger King Restaurant in Rajouri Garden, southwest Delhi, on June 18. Three individuals had arrived at the restaurant on a motorcycle and two of them had entered the premises. Firing around 20-25 rounds at close range, they killed Joon on the spot.

Indian footballers will go through training at Old Trafford in Manchester after emerging as winners in the fourth edition of United We Play, a grassroots football initiative. The event saw the participation of over 15,000 budding Indian footballers across 18 cities, culminating in a grand finale in the presence of Manchester United legend and all-time great Gary Neville in Chandigarh. In the finale, PC Lalchhuanawma (Mizoram), Shreejal Kisku (Bhubaneswar), Mohd Ayan (Lucknow), Bhakta Bahadur Pariyar (Nepal) and Chanason Chaiyatham (Bangkok) were shortlisted.

climate change, a rapid analysis by a team of leading scientists said on Thursday. The analysis by World Weather Attribution (WWA) also underscored the urgent need for Nepal to limit development in low-lying, riverside areas of Nepali cities to prevent and protect people from future floods. WWA is a collaboration of international scientists that analyses and communicates the possible influence of climate change on extreme weather events, such as storms, extreme rainfall, heat waves, and droughts. The floods in Nepal followed three days of extreme rainfall starting September 26. As records were broken across central and eastern Nepal, with some weather stations recording more than 320 mm on September 28, massive floods and landslides claimed at least 244 lives and caused a heavy loss to the country.

Durga idol immersion procession in Bahraich on October 13, sparking arson and violence in the Uttar Pradesh district, died due to «shock and excessive bleeding.» This was stated by Bahraich Chief Medical Officer (CMO) Dr Sanjay Kumar after the postmortem examination revealed that as many as «25 to 30 pellets» were found on the deceased's body, which also had injury marks. «The report revealed that there were serious injury marks around the left eye and on the toenails,» Dr Kumar said. He said the postmortem was done by a panel of three doctors late on Sunday night and its videography was also done. ADG Gorakhpur KS Pratap told journalists that Mahsi's Circle Officer Rupendra Gaur has been removed and attached to the SP office due to «negligence» in Sunday's incident.

Happy Dussehra 2024 Wishes: Dussehra is one of the most significant festivals for Hindus, celebrated annually at the end of Navratri. It typically falls on the tenth day of the Hindu month of Ashvin, corresponding to September or October in the Gregorian calendar. Known by various names such as Dasara, Dashain, and Vijayadashami, this year’s festivities are taking place today with great enthusiasm and joy.

Maldives President Mohamed Muizzu will hold talks with Indian Prime Minister Narendra Modi in New Delhi as he aims to repair relations between their countries that have been strained since he came to power last year

CareEdge Ratings, is hoping to tap into a large market of rating foreign currency loans of Indian companies after it launched its international corporate and sovereign ratings from its Gift City office called CareEdge Global IFSC Ltd. CEO Mehul Pandya said together with taking away market share from its foreign peers, Care has plans to expand into African countries giving them the option of being rated from a new perspective. «So far more than $50 billion has been raised from Gift City and most of it has been rated by foreign agencies. If we just consider a few basis points of this amount in fees, it has huge revenue potential. We have a natural advantage because of our domestic expertise which we will leverage,» Pandya said.

heavy rainfall across various locations in Bagmati and Koshi urging people to exercise caution while travelling. Issuing a notice, the authority warned that heavy rainfall is expected till Friday. «After the heavy rainfall since last week of September, land mass in various locations have weakened and light rainfall also can contribute to further destruction resulting in landslide and flash floods,» the authority stated in the notice. The authority also has alerted people to be cautious before travelling. It also has requested all to take shelter in safer places along the highway in case of heavy rain. The warning comes after the Weather Forecasting Division said that monsoon winds are currently affecting the country.

TAFE) is locked in a legal battle with US agricultural machinery manufacturer AGCO Corporation regarding the use of tractor brand Massey Ferguson in India. On Monday, NYSE-listed AGCO ‘terminated’ several agreements with TAFE, including the licence agreement of the Massey Ferguson brand in the Indian subcontinent despite a stay order from the Madras High Court, prompting the Indian company to file a contempt of court petition against the former. The latest development follows more than six decades of a commercial relationship between the two companies that has since turned sour.

landslides, resulting in at least 112 deaths and many missing, officials said on Sunday. Since Thursday, Nepal has experienced relentless rainfall, leading to widespread warnings of flash floods. Bishwo Adhikari, Nepal Police Deputy Spokesperson, reported that 66 people were killed across the country, including 34 in the Kathmandu Valley. The floods have also left 60 people injured, and more than 3,000 individuals have been rescued.

Makwanpur district are missing, believed to have been caught in a landslide triggered by heavy rains, the ANFA said on Saturday. The rains, which have caused several fatalities in the area, led to the incident. The incident occurred in Indrasarowar, not far from the capital Kathmandu, while the players were moving to a safer location, ANFA said in a statement. «Search efforts are currently underway… the other players who were at the same location have been safely moved to a secure area,» ANFA added.

minimum export price (MEP) of $490 per tonne. The exports of non-basmati white rice were prohibited since July 20, 2023. “The export policy for non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or gazed) …is amended from prohibited to free, subject to MEP of $490 per tonne with immediate effect and until further orders,” the directorate general of foreign trade (DGFT) said in a notification.