Big landslide in the stock market, 147 points declined and Investors demand governor's resignation

Sep Sun 2021 06:55:40

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Big landslide in the stock market, 147 points declined and Investors demand governor's resignation

Kathmandu. On Sunday, the first day of the week, there are signs of a big landslide in the stock market. The Nepse index, which measures the share turnover, declined by about 4 percent in the first hour.

There is a rule of circuit break if there is a 4 percent decrease in the first hour of trading. But in the first hour it did not reach 3 percent but it did not reach 4 percent. The Nepse index has declined by 147 points in the first two hours of trading.

Share investors have demanded the resignation of Governor Maha Prasad Adhikari of Nepal Rastra Bank. Investors are angry that the limit has been set on share pledge loans, making it difficult for them to take loans according to their ability by pledging their assets.

NRB has made a rule that a person can take a loan of Rs 40 million from a bank and financial institution and a person can take a loan of only Rs 120 million at most. No such limit had been set before.

The stock market has been steadily declining since then. Investors have formed the Capital Market Reform Struggle Committee under the coordination of Ram Krishna Dhakal saying that the decision will have a big negative impact on the market.

The committee has issued a statement demanding the immediate resignation of Governor Adhikari. In the first issue of the 16-point demand, the struggle committee has said that the people's investment is at risk due to the governor.