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The price of gold has reached an all-time high of Rs 176, 800 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of precious yellow metal has increased by Rs 600 per tola today. It was traded at Rs 176, 200 per tola on Friday.

Similarly, the price of silver has increased by Rs 15 and is being traded at Rs 2,025 per tola today.

The Sichuan Series of Celebrations on China-Nepal 70th Anniversary of Diplomatic Relations and the Sichuan-Nepal Culture, Tourism, Economy and Trade Exchange Month commenced with an inaugural event held at Chengdu, China. 

The event held on Friday was jointly organized by Foreign Affairs Office of the Sichuan Provincial Government and the Consulate General of Nepal in Chengdu.

Speaking at the event, Director General of Foreign Affairs Office of Sichuan Province, Zhang Tao, reiterated the recent progress in connectivity between Nepal and Sichuan, highlighting the momentum of socio-cultural exchanges in the past year.

In his remarks, Ambassador of Nepal to China, Krishna Prasad Oli, reminisced about the historical ties shared by the two countries and more importantly, the bonds shared by the people of these countries. 

Chief Executive Officer of Nepal Tourism Board, Deepak Raj Joshi, stated that Nepal is ready to welcome Chinese tourists and offer them an unforgettable experience in every corner of Nepal. 

The Consul General confirmed the Consulate’s readiness to facilitate and encourage all forms of trade, tourism and cultural exchange initiatives between Sichuan and Nepal.

The event included performances from Chinese performers and Himali Cultural Group, who arrived in Chengdu for Sichuan-Nepal Culture, Tourism, Economy and Trade Exchange Month.

Various Nepali products were showcased by Nepali exhibitors during the event. During the month-long Sichuan series, Nepali local products’ exhibition and cultural exchange events will be held in different cities of Sichuan Province.

The Sichuan series is also expected to enhance integrated and robust cultural, trade, economic and people-to-people exchange between Nepal and Sichuan, according to the Consulate General of Nepal in Chengdu, China.

Interest rates on bank loans have been steadily declining over the past few months with banks, flush with loanable funds, not getting sufficient demands for credit.

Despite a gradual improvement in credit disbursement, the base rate—the minimum interest rate used to determine loan pricing—has continued to drop. According to the Nepal Bankers’ Association, commercial banks disbursed Rs 4,850bn in loans over the first eight months of the current fiscal year (mid-July to mid-March), marking a 6.12 percent increase. As of mid-July last year, total outstanding loans stood at Rs 4,570bn. Nepal introduced the base rate system in the fiscal year 2012-13 to enhance transparency in interest rate determination. It includes clearly identifiable cost components, ensuring competitive and fair loan pricing.

The average base rate of commercial banks for the month of Chaitra (mid-March to mid-April) has dropped to 6.48 percent from 6.62 percent in the previous month (mid-February to mid-March). Four banks now have base rates below six percent, with Standard Chartered Bank offering the lowest at 5.03 percent. Rastriya Banijya Bank follows at 5.28 percent, while Everest Bank and Nepal Bank stand at 5.46 percent and 5.96 percent, respectively. NIC Asia has the highest base rate at 7.41 percent, while the base rates of 14 Class ‘A’ banks remain below seven percent. Prime Commercial Bank Ltd is the only other institution with a rate above seven percent.

All commercial banks reduced their base rates for Chaitra (March 14-April 13). Machhapuchhre Bank saw the sharpest cut (0.22 percent), lowering its rate from 6.9 percent to 6.68 percent, while Citizens Bank International made the smallest adjustment (0.06 percent), reducing its rate from 7.01 percent to 6.95 percent.

The decline in base rates is driven by surplus liquidity in the banking system, which has also led to a rapid reduction in deposit interest rates. Since loan interest rates are calculated by adding a premium to the base rate, the drop has made borrowing cheaper.

Despite lower interest rates, loan demand remains weak, leaving banks with over Rs 600bn in surplus investable funds. To attract borrowers, many are offering loans with minimal premium charges. Meanwhile, deposits grew by 4.9 percent to Rs 6,037bn in eight months—up from Rs 5,754bn in mid-July last year.

The government has taken a significant step toward fostering Nepal’s startup ecosystem by amending the Industrial Enterprise Regulation. The revision, among others, introduces a legal definition for startups, establishing a structured framework to support their growth.

Under the new provisions, businesses older than 10 years or with annual transactions exceeding Rs 150m will no longer qualify as startups. The revised regulations also require startups to commence operations within one year of registration and to notify authorities accordingly.

According to the regulations, a startup’s registration will be automatically revoked under three conditions: when it surpasses the 10-year threshold, if its annual turnover exceeds Rs 150m, or if its registration is canceled for any other reason. Authorities are required to update their records and notify affected businesses within seven days of such changes. However, losing startup status will not prevent companies from continuing their regular operations.

To further support startups, the government plans to establish a Startup Promotion Center to strengthen the ecosystem.

Nepal’s startup landscape has long struggled with inconsistent policies and unfulfilled government commitments. Past initiatives, often stalled at the planning stage, have eroded trust among entrepreneurs.

Additionally, external shocks such as the 2015 earthquakes, India’s trade embargo, and the Covid-19 pandemic have hindered growth. Despite these challenges, the ecosystem has evolved over the past decade, democratizing entrepreneurship through improved access to capital, networks and knowledge.

The rise of alternative investments—such as private equity and venture capital—alongside accelerators and incubators has also supported the sector’s expansion.

Even though the government has announced plans to promote startups since as early as 2015, they have not been effective. In 2015/16, the government announced a Rs 500m fund, followed by a Rs 5m subsidy in 2019/20. However, these programs were never implemented.

Similarly, an interest-subsidy program announced in 2021 failed to take off. In 2023/24, a loan program launched with the Industrial Enterprise Development Institute and Rastriya Banijya Bank offered up to Rs 2.5 million at 3 percent interest, but only 165 of 1,658 applicants received funding. For 2024/25, the government has allocated Rs 1bn, targeting 600 startups.

Despite these setbacks, Nepal’s startup ecosystem has demonstrated remarkable growth, particularly in technology, agriculture, tourism, fintech, and e-commerce sectors. While still in its early stages, the sector holds significant potential with the right policy support and investment.

The government has pledged to enhance the legal framework and establish entrepreneurship development centers to foster sustainable growth in the startup landscape.

On a positive note, increasing mobile internet access and growing youth entrepreneurship are fostering new opportunities in the digital economy.