A huge crowd of customers seeking IC notes are rushing to Nepal Rastra Bank (NRB) and commercial banks due to IC shortage. [break]
Local banks said traders are creating artificial shortage of IC which has been used to purchase gold from India.
Owing to shortage, banks are providing a maximum of IRs 1,500 to individuals and IRs 25,000 to money exchange operators.
Local money changers are getting IRs 100 against Rs 160.15 from banks in condition that they sell IRs 100 to customers at Rs 160.40.
However, locals complain that money changers are imposing higher commission on the exchange of currencies.
Shekhar Nath Subedi, manager of NRB in Janakpur, accepted that the monitoring of local money changers has yet to be effective due to inadequate manpower. “However, we have canceled the license of seven money changers,” said Subedi.
Around four dozen money exchangers are operating in Janakpur area.
City Homes to issue shares
KATHMANDU, Feb 6: City Homes Ltd is issuing public shares worth Rs 45 million to increase its paid up capital to Rs 150 million by the end of current fiscal.
On the occasion of 4th annual general meeting of the company, managing director Ichchha Bahadur Wagle unveiled the plan of building housing apartment worth Rs 1 billion in Hattiwan of Lalitpur.
The company had increased paid up capital to Rs 105 million by issuing 2:1 rights share last year.
CG´s CDMA mobile set in market
KATHMANDU, Feb 6: CG Impex Pvt Ltd has introduced new CDMA mobile C130 in Nepali market.
As claimed by the company in a press release on Saturday, the new CDMA mobile set has features like FM radio, call recording and clear voice.
According to the company, the mobile set has been certified by Nepal Telecom for its good reception. The set comes with one-year warranty and its battery with six months.
The price of the set has been fixed at Rs 2999.
Three years ago, the company had introduced CG Television in the market.
NCC supports NCRS
NCC Bank Ltd has donated Rs 300,000 to Nepal Cancer Relief Society (NCRS) on the occasion of World Cancer Day 2010.
Ramesh Raj Aryal, chief operating officer of the bank, handed over the check to Lokendra Kumar Shrestha, chairman of NCRS, amid a program organized on Thursday. [break]
"The support was made as by the bank´s corporate social responsibility program," the bank said in a statement. The bank further said it would continue similar support in coming days too.
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