10 Questions
Who determines bank interest rates in Nepal?
The market
What is the expected inflation rate by the end of the current fiscal year 2022/23 in Nepal?
7%
Who has been appointed as the press advisor to Prime Minister Pushpa Kamal Dahal 'Prachanda'?
Govinda Acharya
How many individuals are in institutional isolation in the Kathmandu Valley due to COVID-19?
24
Who addressed the 57th annual general meeting of FNCCI and Industry Commerce Day?
Pushpa Kamal Dahal 'Prachanda'
What is the government emphasizing positive direction to in the economy?
All of the above
What has the government started working on to increase investment morale?
Both short-term and long-term solutions
What was the impact of the monetary policy in Nepal?
Pressure on the revenue
What is the NRB studying the possibilities of implementing in the microfinance sector?
Social banking measures
What has the Cabinet decided to do regarding pesticide residues in vegetables?
Conduct pesticide tests on imported and locally produced vegetables
Study Notes
- Nepal Rastra Bank (NRB) has stated that bank interest rates are determined by the market and not controlled by the central bank.
- NRB Governor Maha Prasad Adhikari said that improved economic indicators may take some time to impact the common people's satisfaction and happiness.
- The interest rate should be determined by the market on the basis of monetary demand and supply of the loanable fund, according to Dr. Prakash Kumar Shrestha, Executive Director of the Economic Research Division at NRB.
- The NRB is studying the possibilities of implementing social banking measures in the microfinance sector due to anarchy in the microfinance banking.
- The inflation rate is expected to be contained at 7% by the end of the current fiscal year 2022/23.
- The government has appointed Govinda Acharya as the press advisor to Prime Minister Pushpa Kamal Dahal 'Prachanda.'
- The Cabinet has decided to conduct pesticide tests on imported and locally produced vegetables and determine the maximum limit of pesticide residues.
- The Cabinet has also decided to take necessary initiatives on the issue of garbage piled up inside Singha Durbar, the main administrative hub of the federal government, and other government offices.
- Deputy Prime Minister and Home Minister Narayan Kaji Shrestha has said that he would work in an orderly and effective manner once the Council of Ministers gets its complete shape.
- Nepal has witnessed a flare-up of COVID-19 cases since last week, and the countrywide death toll has reached 12,021 since the pandemic began.
- 24 individuals are in institutional isolation in the Kathmandu Valley, with 13 in intensive care units and 5 on ventilators.
- There are 469 active COVID-19 cases in Nepal.
- Prime Minister Pushpa Kamal Dahal 'Prachanda' addressed the 57th annual general meeting of FNCCI and Industry Commerce Day.
- The government is working to turn around the crisis-hit economy and bring it on track.
- Discussions have started between the government, Nepal Rastra Bank, and the private sector to find a way out.
- The government is emphasizing positive direction to liquidity, revenue mobilization, remittance, and other economic indicators.
- The foreign currency reserves have been satisfactory in the past three months, and there has been a good improvement in remittances inflows.
- The government is serious about creating an investment-friendly environment, interest rate control, and positive initiatives in the economy.
- The Finance Minister said work had been started for both short-term and long-term to increase investment morale.
- Due to the monetary policy, there was no credit expansion, interest rates increased, economic activity decreased, and there was pressure on the revenue.
Test your knowledge on the latest economic and political news in Nepal with this quiz. From updates on the Nepal Rastra Bank to the government's efforts to turn around the economy, this quiz covers a range of topics. See how well you're keeping up with the news and challenge yourself by taking this quiz today!
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