Sanima upgrades

By: nrnupdates

KATHMANDU: Sanima Bank will start its operations as the 32nd commercial bank of the country from Wednesday from its newly constructed head office — Alakapuri — at Narayanchaur, Naxal. Sanima got the operating license on Saturday by fulfiling all prerequisites of NRB to operate as a commercial bank after receiving a Letter of Intent from Nepal Rastra Bank (NRB) in November to upgrade to a Class ‘A’ financial institution. The bank will start operations as ‘Sanima Bank Ltd’ with a ...

The NRN investment pledge The NRN investment pledge

By: nrnupdates

by Salik GautamThe NRN leadership must not forget hundreds of thousands of Nepali workers who send money back home but do not have access, or are not able to, make investment.As we have known, Non-resident Nepalese Association (NRNA) was conceived in Russia, born in UK and baptized in Nepal, aiming to network non-resident Nepalis worldwide and invest the foreign-earned capital and skills for economic development of Nepal.Aimed at reducing unemployment and creating opportunities back in home country, NRNA’s declared aim ...

An opportunity for all

By: nrnupdates

by DR SURESH C CHALISE (Nepal’s Ambassador to the UK) Nepal, a post-conflict nation, has entered into a new era of development and social transformation. At this specific juncture of her history, economic wellbeing is crucial for society’s political and social transformation. Any attempt, in this direction, by any institution or friend of Nepal should be welcomed. Nepal’s prosperity and stability will not only help her but also is bound to have affirmative impact on her next door neighbors and possibly on to regional economic escalation. Although, there are a few but harsh limitations posed by her landlocked-ness, Nepal has been blessed with huge natural as well as archaeological resources gifted by human civilization and nature herself. But unable to tap these resources, Nepal, as one of the least developed nations, has been struggling for her economic fortunes. Against this setting ...

Brain Gain (Drain), Immigration and Global Network: Nepalese Students in UK (paper)

By: nrnupdates

This is a revised and expanded version of a paper, by Keshab Bhattarai, entitled “Problems and Prospects of Nepalese Students in UK: Brain Drain, Immigration or Global Network?”, presented at the International Conference in Policy Modelling, Istanbul, Turkey,6-7 July, 2010. Abstract: Nepalese students in UK are struggling to balance tuition and other expenses in the short-run and for the gainful employment in the long run. The opportunity cost of emigration in a labour surplus economy of Nepal is very little in comparison to benefits from increased flow of remittances, transfer of knowledge, ideas and technologies. Net emigration results in brain gain rather than brain drain to Nepal and benefits in terms of output, employment and the stability in wages and inflation to the UK. Both governments, NPCCUK and NRNA can make this process more efficient by developing right mechanism and policies. Download full ...

Guarantee NRNs right to be Nepali in constitution stressed

By: nrnupdates

KATHMANDU: Chairperson of Non-Resident Nepali (NRN) Association, Devman Hirachan said the NRN’s right to become Nepali should be secured long lastingly in the new constitution. Talking to the RSS, he said the provision of dual citizenship will encourage NRNs and their newer generations to develop national feelings and make the relations with Nepal intact. He expressed confidence that constant encouragement to the NRNs - scattered all over the world - towards enhancing sense of ownership to motherland will, very indeed, help safeguard nationality. ‘The skills, knowledge, experience and competence of the NRNs should be transferred to the prosperity of Nepal on the joint initiative of Nepal and NRN Association’, he added. Moreover, the provision of dual citizenship will prevent the capital flight of the country and will inspire the NRNs to contribute to the national efforts towards economic, social, physical and overall development of ...