Nepal scraps hydro licenses of Indian companies ‘occupying’ 750 MW projects

  Kathmandu, March 12 Nepal’s Energy Ministry has canceled permits issued to Indian power developers who had been ‘occupying’ projects with a total potential of over 750 MW. According to official figures, the government recently scrapped licenses issued to three power developers financed by Indian companies. The projects whose licenses have been canceled are: 130 […]

Nepal’s bankers’ association punishes NIC Asia for breaching interest ceiling

Kathmandu, March 9 Nepal’s bankers’ association says 27 of its member banks will not carry out transactions with NIC Asia, one of the country’s leading commercial banks, after it raised interest rate on fixed deposits. The association said  that the bank indulged in unfair practice by hiking interest rate above what was agreed among members […]