Thursday 3rd April 2025
Kathmandu – The Supreme Court has summoned both parties for discussion regarding an interim order in the writ petition challenging the appointment of Sharad Ojha as the Chairman of the Nepal Insurance Authority (NIA), the regulatory body overseeing the insurance sector. A single bench of Supreme Court Justice Dr....
Kathmandu – A writ petition has been filed in the Supreme Court, challenging the qualifications and age of Sharad Ojha, who was recently appointed as the Chairman of the Nepal Insurance Authority. The petition, registered under case number 081 WO 1066, alleges that Ojha does not meet the required...
Kathmandu – A writ petition has been filed in the Supreme Court, challenging the qualifications and age of Sharad Ojha, who was recently appointed as the Chairman of the Nepal Insurance Authority. The petition, registered under case number 081 WO 1066, alleges that Ojha does not meet the required qualifications for the position. Advocate Indira Dhamala filed the petition under Public Interest Litigation, claiming...
Kathmandu – IGI Prudential Insurance Limited has announced the sale of 94,797 units of promoter shares currently held by two of its promoter shareholders. The company has stated that only the existing promoter shareholders of IGI Prudential Insurance are eligible to purchase these shares. Interested promoter shareholders must submit their applications to the company’s central office in Naxal within...
Editorial The recent case of Surya Prasad Silwal, a central figure accused of institutional corruption in Nepal’s insurance sector, marks a pivotal moment for the Nepal Insurance Authority (NIA). With the Commission for the Investigation of Abuse of Authority (CIAA) formally filing a case against him, the curtain has fallen on a regime that many believe embodied a deep-seated...
Kathmandu – A recent study has revealed that climate change and uncontrolled urban activities resulted in approximately $310 billion in economic losses worldwide in 2024, significantly impacting the global insurance sector. The increasing frequency and severity of natural disasters such as fires, floods, landslides, and storms have placed immense financial pressure on insurance companies. The study, conducted by Swiss...
Kathmandu – The base rate of commercial banks in Nepal has dropped to a new low, with all 20 operating commercial banks now maintaining a single-digit base rate. This decline is attributed to excess liquidity in banks and financial institutions, leading to a continuous reduction in deposit interest rates, subsequently lowering the base rate. As a result, banks are offering loans at competitive interest rates. According to recent data,...
