Author: space4knews

As of the end of Baisakh in the current fiscal year, the average base rate of commercial banks has decreased to 4.97 percent compared to the previous year. During this period, the average base rates of development banks and finance companies stood at 6.95 percent and 7.30 percent respectively, according to the Nepal Rastra Bank. The weighted average interest rate on loans is recorded at 6.73 percent for commercial banks, 7.87 percent for development banks, and 9.14 percent for finance companies. (May 26, Kathmandu)

By the end of Baisakh in the current fiscal year, the average base rate of commercial banks was 4.97 percent. This interest rate is more than 1 percent lower than the same period in the previous fiscal year. According to the Nepal Rastra Bank, the average base interest rate for commercial banks was 6.17 percent during the last fiscal year. Likewise, up to Baisakh of the current fiscal year, development banks’ base rate was 6.95 percent, and finance companies’ was 7.30 percent.

At the end of Baisakh 2082, the average interest rates of development banks and finance companies were 8.24 percent and 9.11 percent respectively. By Baisakh 2083, the weighted average deposit interest rates for commercial banks stood at 3.35 percent, development banks at 3.70 percent, and finance companies at 4.59 percent. At the end of Baisakh 2082, these deposit interest rates were 4.37 percent for commercial banks, 5.11 percent for development banks, and 6.15 percent for finance companies.

Flydubai has received permission to operate daily flights from Pokhara International Airport starting September 23, 2026. Mayor of Pokhara Metropolitan City, Dhanraj Acharya, shared this update, stating, “Significant progress has been made towards establishing regular international flights from Pokhara International Airport, which serves as Nepal’s third international air gateway.”

He added, “Following comprehensive high-level security, safety, and operational inspections, Flydubai’s approval to begin daily flights from September 23, 2026, has generated great enthusiasm among the people of Pokhara.” He emphasized that this development will enhance Pokhara’s international profile, promote tourism, boost economic activities, and provide a historic opportunity to decentralize the air traffic currently concentrated in Kathmandu.

Direct air connectivity with Dubai will expand Pokhara’s access to over 300 cities across the Middle East, Europe, and Africa.

The Secretariat of Finance Minister Dr. Swarnim Wagle has clarified that the import of electric vehicles before the budget was conducted through regular and legal procedures. Following claims that customs duties on some vehicles were reduced after the budget, the Secretariat has denied allegations of information leaks as baseless. Additionally, the Ministry of Finance has revised the responsibilities of staff at the Rasuwa customs office to further investigate the clearance process. Kathmandu, 26 Jestha.

The Secretariat emphasized that all vehicles imported prior to the budget followed established and regular import procedures. This statement was issued after accusations emerged suggesting that vehicles were brought in through the northern border points before the budget, potentially benefiting traders due to leaked information about increased taxes in the upcoming budget. “This incident is related to the Korla customs office in Mustang and the Rasuwa customs office. Over 200 electric vehicles were imported through Rasuwa customs and 649 through Korla, all following the regular import procedures prior to the budget,” the Secretariat said in an official statement.

The Secretariat also refuted claims that vehicle importers had received advance notice from the budget-making authorities regarding increases or decreases in customs duties. Economic clarifications revealed that Laxmi E-Mobility (Kathmandu) imported 200 vehicles of the KAI brand through the Rasuwa customs office. However, it was noted that all customs payments were reduced only as per the budget provisions. “If importers had received information about a reduction in customs duties, they would not have risked importing vehicles at the higher rates before the budget; their advantage would have been only if they imported vehicles after the budget,” the statement said.

The news summary has been reviewed. The visit of Rashtriya Swatantra Party (RSP) Chairman Ravi Lamichhane and Foreign Minister Shishir Khanal to India has placed economic partnership and development diplomacy at the forefront of priorities between the two countries. Former Indian Ambassador to Nepal, Ranjit Rai, has suggested that Nepal and India should immediately initiate talks through a foreign secretary-level mechanism to resolve the border dispute. He emphasized that although there was a delay in submitting the EPG report, both countries urgently need to commence foreign secretary-level discussions to review the 1950 treaty.

Prime Minister Balendra Shah’s comments about the Nepal-India border issue during the House of Representatives session stirred political discussions within Nepal. At that time, RSP Chairman Ravi Lamichhane and Foreign Minister Shishir Khanal were on a visit to India. In an interview regarding this visit, former Indian Ambassador Ranjit Rai stated, “Whenever Nepal holds prime ministerial elections, the first foreign trip traditionally is to India, but this time, RSP Chairman Ravi Lamichhane reached India even before the Prime Minister and received notable honors from Indian institutions.”

The relationship between India and Nepal is unique and holds immense significance from both development and security perspectives. Historically, their relations have been cordial and warm. Typically, after political leadership changes or government transitions, visits occur between the two countries. Given Nepal’s significant political transformation and the emergence of new parties and leaders in power, it is essential to establish a good relationship with the new leadership. From this perspective, RSP Chairman Lamichhane’s visit should be seen positively.

Following the India-China agreement on trade and Kailash Mansarovar pilgrimage utilizing the Lipulekh pass, the Kalapani and Susta border disputes between Nepal and India have resurfaced. Should India have resolved these disputes before concluding the agreement with China? Actually, the India-China agreement on trade and pilgrimage via the Lipulekh pass was made decades ago and is not a recent development. India highlights a small disputed area in Kalapani within the border disagreement. In 2020, Nepal incorporated Lipulekh, Lipu Lekh Pass, and Limpiyadhura into its official map, expanding the disputed territory, which India has not acknowledged.

Approximately 98 percent of the Nepal-India border has been settled, with technical-level agreements already signed. The remaining 2 percent can be resolved through political dialogue. Therefore, a meeting of the foreign secretary-level mechanism must be convened immediately. Currently, Nepal’s two-thirds majority government has amended the constitution through what some critics call a false constitutional amendment and ratified a new map; consequently, the parliament is expected to approve any agreement reached through bilateral talks.

Given that the RSP holds a significant majority in parliament, there is no need to play the anti-India nationalist card internally. How will the Indian establishment interpret this? In my personal view, the Indian side has taken this positively. This is evident from the reception and interest shown during the visit.

The visit of RSP Chairman Lamichhane and Foreign Minister Khanal has been deemed fruitful. Two key themes emerged from this visit: first, prioritizing development diplomacy, and second, the expression that “his party is free from old political burdens and biases.”

The Nepal-India relationship will now prioritize economic development. Past political difficulties had hindered economic cooperation, but there is an expectation that these barriers will now be removed.