SC order on ADB GM

KATHMANDU: The Supreme Court has ordered that there is no need to issue a stay order against the newly appointed GM of Agricultural Development Bank Ltd (ADB) Yogeshwore Pant in the petition filed by former GM Hari Gopal Gorkhali. The bench headed by chief justice Dilip Kumar Poudel and justice Kedar Prasad Giri took the decision. In this context, GM Pant is allowed to continue his job, according to the verdict. — HNS

Nepse concerns NBA

KATHMANDU: Nepal Bankers Association (NBA) issuing a press statement has raised concerns over the decline in Nepse index following an announcement of Monetary Policy. Experts have already pointed out the unnatural rise in share prices, says NBA release. “There is a need to clearly understand the fundamentals of the institutions and the net-worth for the fluctuations of share market.” As per the monetary policy, banks can increase their transactions and generate more profit due to reduction in capital adequacy ratio, further liberalisation in capital structure and simplified procedures in foreign exchange transactions. “There is no reason to link the decline in share market prices with monetary policy and performance of banks.” — HNS

NBA gets new team

KATHMANDU: A general meeting of Nepal Brokers’ Association (NBA) has formed an 11-member new executive team with Navaraj Pokhrel as its president for the next term. Nanda Kishore Mundadda, Purushottam Raj Poudel and Badri Phuyal are vice-president, general secretary and treasurer respectively. Suchita Khanal, Satish Kumar Shrestha, Anoj Agrawal, Umesh Regmi, Bijaya Kumar Khemka, Megnath Upadhaya and Rabindra Bahadur Nuchhe Pradhan are the new members. — HNS