KATHMANDU: Nepal News presents today’s snapshot of Nepal’s economic activities. Get quick updates on major market movements, policy shifts, and financial developments shaping the economy of Nepal. Here are the key economic highlights for today:

NEPSE Index and All Sectoral Indicators Rise on Monday

On Monday, the stock market saw gains across all sectoral indicators, including the NEPSE index. The NEPSE index increased by 44.25 points, closing at 2,547. While the market showed some fluctuations at the opening, it gained momentum after 12:30 PM. Despite the overall rise in the market, trading volume declined. Yesterday’s turnover of Rs 6.70 billion fell to Rs 4.97 billion today. Out of 200 companies, share prices of 44 companies decreased, 8 remained unchanged, while the rest saw an increase.

Nepal Rastra Bank Unveils National Payment Switch Plan
To make digital payments more organized, transparent, inclusive, and sustainable, Nepal Rastra Bank has released a blueprint for the National Payment Switch and National Payment Ecosystem. All banks, wallets, and payment service providers will be connected via a shared switch, facilitating seamless, fast, and secure card and non-card transactions. The master reference document also aims to fully integrate Nepal’s payment system, making it transparent and cross-border friendly.

Government Spending Increases in First Quarter Despite Low Budget
Government payments have started increasing in the first quarter of a fiscal year with lower overall expenditure. Five-year data shows that although payments were minimal in the first quarter, improvement has occurred, with rising expenditure trends observed in recent years. The Finance Ministry’s bulletin for fiscal year 2024/25 notes that first-quarter payments, though historically low, have shown improvement.

Banks Accumulate Over Rs 1.15 Trillion in Loanable Funds
With only five days left in the first quarter, banks and financial institutions have accumulated about NPR 1.15 trillion in loanable funds. Following the start of the new fiscal year, loanable funds increased significantly. The expanded budget and monetary policy are expected to boost credit flow and reduce bank liquidity. Early signs of increased credit demand have already emerged.

SEBON Gives 9-Point Commitment to Investor Group
The Securities Board of Nepal provided a 9-point commitment to a group of investors visiting the board. The investor group had approached the board to pressure it for not implementing the suggestions of the Capital Market Reform Task Force formed by Former Finance Secretary (now Finance Minister) Rameshore Khanal. Members of the board’s executive committee provided commitments on nine points. Accordingly, the board pledged to implement margin trading via brokers by mid-November.

Foreign Employment Linked to National ID System
Now, individuals going for foreign employment are linked to the National Identification System (NIDMIS). This ensures that the actual person must be present during orientation training. Previously, issues arose where others could enter biometrics in place of the worker or passport holders were absent. Linking the Foreign Employment Information Management System (FEIMS) to the National ID and Registration Department system will prevent such irregularities, the department stated.

Department to Strictly Monitor Market Activities
The Department of Commerce, Supplies, and Consumer Protection has announced stricter monitoring of market activities during major Nepali festivals Tihar/Diwali and Chhath to ensure cleanliness and transparency. The department said it is working to protect consumers from fraud and maintain price stability in the market during the festive season.

Agreement Reached to Operate 45 MW Bhotekoshi Hydropower Project
After nearly a month-long closure, an agreement has been reached to operate the 45 MW Bhotekoshi Hydropower Project, with Gen Z requiring a 10% free share allocation. The agreement was signed on Sunday between Bhotekoshi Gen Z Public Investment Limited and Bhotekoshi Power Company Private Limited. With this agreement, the power plant is operational from today. The project will provide 10% shares to affected locals and annual Rs 25 million to Bhotekoshi Rural Municipality as part of social responsibility.

Upper Arun Hydropower Project Remains Uncertain
The feasibility study of Upper Arun was conducted in 1991. The World Bank had provided a PPF loan of USD 600,000. The 1,061 MW project, led by the World Bank, remains uncertain a year after financial closure efforts began. India’s claim to project development delayed financial closure last year. A preliminary agreement for investment was reached in June 2024, but India’s claim affected progress.

Flights to Bhairahwa and Pokhara to Resume for Winter Season
Efforts are being made to resume flights to Bhairahwa and Pokhara airports for the upcoming winter season. Thai Air Asia will operate direct flights from Bangkok to Gautam Buddha International Airport, Bhairahwa, every Sunday and Wednesday. The airline will use an Airbus A320 narrow-body aircraft with 180 seats. Flights will arrive at 12:15 PM and depart at 1:15 PM the same day. Previous operators like Thai Air Asia, Jazeera, and Nepal Airlines have also conducted international flights to Gautam Buddha International Airport.

Imports from China Through Key Customs Point Halted
Previously, about 100 containers per day from China passed through this border point, including apples and electric vehicles, especially during festivals. Now, imports have stopped, with Mustang’s Korala point used instead for electric vehicles and clothing. Rasuwa Customs Office has set a revenue collection target of Rs 40.16 billion for the current fiscal year.

Land Management Offices Damaged During Protests
On September 9, 22 Land Reform and Survey Offices and 14 cadastral offices nationwide were damaged during protests. The Land Management and Records Department reported complete damage to 10 land revenue offices. Damage destroyed landowner registration books and records of mortgage restrictions. The department issued a circular on Friday to recreate lost registration and restriction records.

VIP Lounge at Tmulingtar Airport Closed After Gen Z Protest
Following the Gen Z movement, Tmulingtar Airport closed its VIP lounge to ensure equal facilities for all passengers. Previously, political leaders and their supporters would crowd the VIP lounge, creating security challenges. The Civil Aviation Office at Tmulingtar noted that Buddha Air operates daily 72-seat flights between Kathmandu and Tmulingtar, and the VIP lounge closure prevents unnecessary use.

Tourism Insights Monthly Digital Publication Released
The Nepal Tourism Board has launched a monthly digital publication named Tourism Insights, which covers key statistics, trends, and global perspectives related to the tourism sector. The board stated that this new platform will contribute to providing clear and fact-based information for policymakers, tourism entrepreneurs, and researchers. The Tourism Insights was unveiled on Sunday during a ‘Meet and Greet’ program held in Kathmandu.

Baglung Produces Rs 1.946 Billion Worth of Potatoes
Baglung district has produced potatoes worth Rs 1.946 billion this year. Farmers cultivate potatoes in two seasons, monsoon and winter, with monsoon yields generally higher. Due to the district’s favorable high-altitude areas for potato farming, millions in revenue are generated annually. The Agricultural Knowledge Center, Baglung, stated that investment in potato farming has attracted more farmers to the sector.

Tourism Rising in Rara and Mansarovar Amid Festivals
Tourists visiting Nepal’s prime destinations, Rara Lake in Mugu and Mansarovar in Humla, are increasing. More visitors are arriving during Dashain and Tihar. Despite difficult roads and limited hotel facilities, tourism in Karnali is growing. Visitors reach Rara via land routes, while Mansarovar is accessed by air, with most visitors from India. The Rara National Park reported increased domestic tourism targeting Dashain and Tihar.

Global IME Bank to Distribute 8% Cash Dividend
Global IME Bank Limited will give an 8% cash dividend to shareholders from the distributable profit of fiscal year 2024/25. The bank proposed distributing the cash dividend (including tax) based on 8% of the current paid-up capital. After Nepal Rastra Bank’s approval, it will be distributed to shareholders once passed in the upcoming general meeting.

Habib Bank Gets Final Approval to Sell Himalayan Bank Shares
Pakistan’s Habib Bank has received final approval from the central bank to sell its shares in Himalayan Bank to National Life Insurance. The approval letter was provided by Guru Prasad Paudel, head of the Banking and Financial Institutions Regulation Department of Nepal Rastra Bank.

NIC Asia Bank Requests Customers to Update Email Addresses
NIC Asia Bank has requested its customers to update their email addresses linked to their accounts. The bank informed that customers can update their email addresses promptly by tapping on the ‘My Profile’ section in the bank’s video KYC or mobile banking app and selecting the ‘Change Email’ option. Additionally, customers can also submit applications to update their email addresses at any branch office of the bank.

Swastima Khadka Named Brand Ambassador for InDrive Nepal
Ride-sharing platform InDrive has announced actress Swastima Khadka as its brand ambassador for Nepal. On the occasion, the company launched a new 360-degree campaign, “Travel Your Way with InDrive.” The campaign promotes InDrive’s peer-to-peer model, emphasizing freedom, fairness, and transparency, allowing passengers and drivers to negotiate fares directly. Users can propose fares and choose drivers through the app.

Gold Price Crosses Rs 240,000 per Tola
The price of gold has surpassed Rs 240,000 per tola, an increase of Rs 2,400 per tola compared to the previous day. The Federation of Nepal Gold and Silver Traders’ Association set the price at Rs 240,400 per tola on Monday, while the previous day it was Rs 238,000. This is the highest gold price recorded so far.