<img width="1648" height="512" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110161152/636d1e639c7e80680e0af409png.png" alt=""/>Standard Chartered in its 35th Annual General Meeting recorded operating and net profits of Rs2.01 billion and Rs1.40 billion respectively in 2020/21. The AGM approved payment of cash dividends of 3.06% and bonus shares of 10% to the shareholders. The bank posted a growth of 26% on its risk assets to reach Rs72.95 billion, deposits declined marginally by 3.30% to Rs 95.99 billion.

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Standard Chartered's AGM

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109171144/636bd96a9c7e80680e080211jpeg.jpg" alt="" width="2880" height="1920"/><figcaption>Anirvan Ghosh Dastidar, Chief Executive Officer for Standard Chartered Bank in Nepal.</figcaption></figure>Meet Anirvan Ghosh Dastidar, Chief Executive Officer for Standard Chartered Bank in Nepal. Before arriving in Kathmandu last year, he served as CEO of bank in Brunei, Philippines and Sri Lanka. Nepali Times spoke to him about the current Covid-19 crisis and its impact on financial systems worldwide and in Nepal.Nepali Times: What is your assessment of Nepal's macro-economic situation and the risks to the banking sector? Anirvan Ghosh Dastidar: Nepal’s GDP composition is largely driven by the service sector which amounts to more than half of the total output. The pandemic has rapidly slowed down this sector which maybe causing majority of the aggregate demand subdue. A slowdown in services also means both consumption and production would be impacted since interlinkages between services, agriculture and manufacturing are very high in our economy. Though it may seem on the outside that Nepal’s economy is only consumption led – Nepal’s interlinkages to the global economy on both demand and supply drivers are very high. This also is one reason that the credit demand is quickly picking up after the lockdown was lifted which can be seen from the CCD ratio – since Nepal’s economy is dependent on drivers that may not need so much time for recovery like remittances and the service sector to drive majority of the demand, and, imports to drive majority of the supply.Banks in Nepal are directly impacted by how the economy performs since there are no complex financial instruments in the system that stabilise or delay the impact of economic shocks. Most real GDP economic forecasts for Nepal have relied on a few assumptions: there will be localised lockdowns only until the end of 2020 and cases will gradually decline, economic activities will gradually return to normal starting 2021. Forecasts based on these assumptions estimate Nepal’s real GDP growth to be between 2 to 2.5% for 2020. I have a similar assessment for Nepal’s macroeconomic situation: if there is no second wave and there only are local lockdowns until the end of 2020 – Nepal will gradually go into the recovery phase and it will be quick due to the drivers of our economy.Nepal Rastra Bank has allowed rescheduling and restructuring loans, would this provide relief or just postpone the problem given that economic activity is not picking up? This would be completely dependent on how the economy would recover. If there is no recovery of economic activity, given a subdued demand, the problem would be there irrespective. In this case, there is no other option but to reschedule and restructure loans with an expectation that in the recovery phase things will get back to normal – this trend can be seen across the world, not only in Nepal. I think the factor causing the problem here should be understood well – the Central Bank Policy has in no way got to do anything with the problem, in fact these regulations are there by definition to ease the burden for all stakeholders in the system. The problem is external, which is dependent on market forces and these factors are beyond anyone’s control given the global pandemic. I am in fact appreciative of the efforts Nepal Rastra Bank has taken to stabilise the negative economic impact caused by this crisis – the impact would have been much worse if it were not for the effective actions of our Central Bank.There was always a chronic liquidity crisis among Nepal's banks, but that is not the reality now. Would this not be a time to prime up investment? This is largely dependent on what you are investing in. However, on a broader scale, trying to invest now just because there is liquidity and prices of certain markets are low, would be a myopic view – one might also argue that interest rates are down so credit is cheaper. However, I think the fundamental laws of the markets and economics cannot be ignored. As long as the economy is down, so is the aggregate demand. When aggregate demand is down, an overall subdue in economic activities is bound to exist – this is a vicious cycle. Having said that, Nepal’s economy is slowly picking up because of an ease in the lockdown, but not in all sectors. I would thus say investment decisions would depend more on the sectors involved. The same time maybe prime for some sector and some investments, when it is not for some.Do you see the possibility of mergers of financial institutions during this crisis? There is no straightforward answer when it comes to mergers of financial institutions, and there are various academic arguments on various variables from economies of scale, synergy, efficiency of the industry, quality of assets and returns of the market the financial institutions are operating in. The sky is the limit for these variables. One can add the geographic argument and build a spatial model, one can also argue that traditional models miss the current trends of digitisation or new trends in the economy which may also have different implications to the debate and add these variables. Arguments also differ because of the tools and models which are used to analyse these variables – ranging from Optimized Mathematical Game Theory Models, Time-Series Econometric Models to even Economic General Equilibrium Models. Therefore, commenting on the possibility of mergers is very complicated and this should be based on various factors that are important to the market and industry in question. Ultimately, however, there are fundamental rules always govern any banking industry: a bank needs to be profitable to sustain and should comply with the rules laid forward by the Central Bank.What would be Standard Chartered’ s strategy to ride out this crisis, and indeed see it as an opportunity for expansion? There was an interesting article in <a href="https://hbswk.hbs.edu/item/why-japan-s-businesses-are-so-good-at-surviving-crises">Harvard Business Review</a> on the Japanese way of dealing with a crisis which points towards a long term outlook of the society a business operates in. This article argues that the more we contribute towards the overall development of the economy and communities in the economy, the more we benefit. I think our purpose also follows the same concept which includes a focus on the long-term prosperity and economic development of Nepal which in-turn has a direct relationship to the banking industry’s health. We are committed to the sustainable growth priorities of Nepal and are focused on helping businesses and communities revive post Covid-19.Having said that we have had our share of learnings during the pandemic and we have already devised plans to refresh our operating models. Our plans are geared towards enhancing our digital capabilities to support clients with their banking needs. We also feel, as have many institutions internationally, that our operating model will also consist of a refreshed health and safety standard where there will be a certain element of working from home even after the Pandemic. I think our focus is more towards supporting our clients recover from this crisis and keeping our colleagues safe, more than expansion.

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“We are focussed on post-Covid revival of Nepal’s business”

<figure></figure>										<img width="1698" height="1176" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109151112/636bb58f9c7e80680e07bc0djpeg.jpg" alt=""/><figcaption>Illustration: CIJ NEPAL</figcaption>												Top secret documents prepared by the US government’s Financial Crimes Enforcement Network (FinCEN) and leaked to the media have revealed $2 trillion in suspicious money transfers, and include files that involve some of Nepal’s top banks.The information is contained in ‘Suspicious Activity Reports’ (SARs) sent by banks to the American financial watchdog between 1999 to 2017, and most involve transactions with countries on which the US has imposed sanctions, like Russia, North Korea, Iran and Cuba, or Chinese companies which Washington has blacklisted. Some of these SARs involve transfers through Kathmandu-based banks, and by Nepali firms a few of which appear to be front or fake companies, or ones that are defunct. Banks report transactions when they suspect that money laundering or criminal activity is suspected, but they do not necessarily mean that the companies or individuals named have broken the law.The Nepal files contain transactions made through nine banks, 10 companies and other individuals between 2006-2017 and include some of the big names in banking. However, the companies are less well known, and some of the individual names appear to be security guards or Nepali overseas workers sending money home. Even so, some of the Nepal-based companies named appear to have been involved in smuggling gold, antiquities, or trading in asphalt and telecommunication equipment. The transactions flagged in the FinCEN leaks in Nepal were through Standard Chartered Bank, Prime Commercial Bank, Bank of Kathmandu, Nepal Investment Bank, Everest Bank, Mega Bank, Himalayan Bank, Apex Development Bank of Kaski, and Nepal Bangladesh Bank.The leaked documents contain the names of 10 little known Nepal-based companies including Rauniyar Brothers &amp; Co of Birganj, Subha Samriddhi Traders Pvt Ltd of Kathmandu, Shasta Trading Company, Setidevi Export Import Pvt Ltd, L D International Pvt Ltd, Felt and Yarn Pvt Ltd, Woman’s Paper Crafts, Acme Money Transfer Service, and Sunny Enterprises. Some these were never registered, others appear to be front companies, and some are closed. Of the nearly $300 million worth of transactions through Nepal that were flagged in the FinCEN documents, $177.6 million were bank transfers of which $103 million were transferred out of Nepal and $74.6 million were remitted into the country. There were also $48.2 million worth of possibly illegal transactions in various countries with Nepal links, and another $75 million transactions not in Nepal, but involving Nepali-sounding surnames and addresses. Most of the transactions in the FinCEN leaks that raised red flags, including those by Rauniyar Brothers and Shubha Shambridhi Traders, involved over $70 million in Letters of Credit through Standard Chartered Bank in Nepal and its branches abroad. The Rauniyar transactions went through the Dubai-based Kite International FZE, and involved import and export of petroleum products. They were sourced from Bandar Abbas port in Iran in contravention of US-sanctions, and the shipment documents were reportedly forged to look like they came through Dubai.When asked to respond, Pranu Singh of Standard Chartered Bank Nepal said the bank was bound by client confidentiality and did not comment on specific cases. ‘The reality is that there will always be attempts to launder money and evade sanctions,’ she wrote in an email reply. ‘We take our responsibility to fight financial crime extremely seriously and have invested substantially in our compliance programs.’  The other companies involved appear to have been involved in using banking channels to fund gold smuggling operations via jewellery companies in Hong Kong and Dubai between 2009-2011. Some banking transactions appear to have been listed in the SARs because they involved Chinese telecommunication company ZTE that is on a US blacklist, while others were  transfers from Nepal to known tax havens like the British Virgin Islands, Seychelles and Luxembourg.  The leaked files also include transfers of amounts as small as $120-500 to Nepali companies and from Nepali workers in Iraq and other countries that for some reason were in the suspicious activity reports sent by corresponding banks as long as ten years ago. However, some of the companies listed, like Woman’s Paper Crafts, are not even officially registered in Nepal.Two separate reports in the FinCEN leaks concern possible payments for smuggled Nepali religious artifacts. Standard Chartered Bank New York flagged American Nancy Wiener Gallery and several other dealers suspected to be involved in the illegal trade of antiquities. Some of them were linked to Subhash Kapoor, an Indian national and the Art of the Past Gallery owner in New York, who used to facilitate artifacts smuggling from India to the United States. He was arrested by Interpol in 2011 at Frankfurt airport.Nancy Wiener Gallery was cited in the FinCEN leaked files for suspicious transactions worth $27 million between 2010-2017. This is the same gallery that sold a stolen 16th-century bronze from Nepal in 2010 and transferred the payment to Pantheon Worldwide in Hong Kong. The bank that filed the suspicious activity report said: ‘The transactions appear to be related to antiquities that were potentially purchased and sold illegally.’Nepal’s Money Laundering Prevention Act requires banks and financial institutions to report suspicious transactions to the Nepal Rastra Bank’s Financial Information Unit (FIU). The Act bars clients from making transactions under anonymous or fictitious names. Financial institutions also need to keep a separate record of transactions of high-ranking officials in the political, administrative, and judicial spheres. Although some of the suspicious transactions in the FinCEN report are dated, there appears to be a gap in the way Nepal’s banking sector monitors international transfers. This poses a serious challenge, and could push Nepal towards an international blacklist of high-risk countries.Nepal Rastra Bank Governor Maha Prasad Adhikari says Nepal has enacted laws against money laundering and has set up a Financial Information Unit (FIU) at the central bank. “However, having legal provisions doesn’t mean that money laundering will not happen. We don’t claim that we are good at implementing laws, but it’s getting better as time passes,” Adhikari added. “We have fined six banks and financial institutions for mishandling Know Your Customers forms and failing to monitor and report money laundering. Nepal Rastra Bank is committed to preventing money laundering. There won’t be any ifs or buts.”The latest ‘<a href="https://www.buzzfeednews.com/article/jasonleopold/fincen-files-financial-scandal-criminal-networks" target="_blank" rel="noopener noreferrer">FinCEN Files</a>’ contain top secret financial records obtained by BuzzFeed News and shared with the <a href="https://www.icij.org/investigations/fincen-files/" target="_blank" rel="noopener noreferrer">International Consortium of Investigative Journalists (ICIJ)</a> and other news organisations. In Kathmandu, follow up investigations were conducted by the <a href="https://cijnepal.org.np/fincen-files-nepal-nexus/" target="_blank" rel="noopener noreferrer">Centre for Investigative Journalism Nepal (CIJ-N)</a>.Krishna Acharya, Ramu Sapkota and Shiva Gaunle. Arun Karki and Pramod Acharya also contributed to this report.Centre for Investigative Journalism Nepal

Nepal figures in leaked money laundering report

Nepal won the first two matches, clinching the T20 series in the UAE, making history: this is the country’s first ever win, and series win, against a Test-playing country.&nbsp; On Tuesday night, Nepal lost the last game by 10 wickets. The West Indies easily met Nepal’s 122 runs in 19.5 overs. Despite that, Nepal had beaten the two-time T20 World Champions which is currently number 6 in T20 rankings. It is important to note that the West Indies are fielding a significantly weaker and younger team than they could. Caribbean heavy hitters Nicholas Pooran, Andre Russell and Shimron Hetmyer are currently resting or playing in domestic leagues. But that does not take away from the fact that, after two narrow misses against South Africa and Bangladesh at the 2024 T20 World Cup, Nepal has now beaten a Test-Playing nation, and done so convincingly.&nbsp; Nepal won the first match of the series on 27 September by 19 runs. Batting first after winning the toss, Nepal put up 148 for 8 after losing openers Kushal Bhurtel and Aasif Sheikh early.&nbsp; Rohit Paudel’s 38 and Kushal Malla’s 30 steadied the innings, and 148 was a reasonable target to defend on the tricky Sharjah pitch. The young Windies dropped a series of catches.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251001031052_5f24273f6da2f52f6414b7ecc485938a4c726431bfa7c2ba435bded3debe9f5a.jpg" data-media-id="editor_0" data-image-id="20251001031052_5f24273f6da2f52f6414b7ecc485938a4c726431bfa7c2ba435bded3debe9f5a" data-rendition-name="original" width="1440" height="960" loading="lazy" alt="Nepal defeats West Indies NT 1"> </figure>  Nepal’s fielding, in contrast, was excellent as it held the West Indies to 129 for 8. Dipendra Singh Airee and Kushal Bhurtel both had run outs, and the team held on to tricky catches throughout.&nbsp; The last ball of the match, with it already won, saw Bhurtel catch Fabian Allen off of Airee’s bowling, throw the ball in the air before stepping outside the boundary, before jumping back in to complete the catch legally.&nbsp; Head coach Stuart Law, former Australian Cricketer, was pleased with the performance. “We deserved it, we played a really good game of cricket. I thought our fielding in the first 15-17 overs was outstanding,” he said, predicting, “the West Indies will be hurt, they’re a proud nation. They’ll come out red-hot on Monday, so we got to be better than tonight.”&nbsp; Bhurtel was ecstatic at having beaten the two-time T20 World Champions. He pointed to the team’s versatility as a big strength. “We have a lot of players who can both bat and bowl. Gulsan (Jha) and Kushal Malla did not bowl at all, and Lalit (Rajbhansi) did not bowl out all of his overs.” And the team still used seven bowlers.&nbsp; If the first match was a surprise, then the second match was a shock. Nepal put up 173 for 6, with Aasif Sheikh hitting 68 not out and Sundeep Jora 63, the two putting up a hundred run fourth wicket partnership.&nbsp; They then bowled out the West Indies for a humiliating 83, with Mohammad Aadil Alam taking 4 for 24 and Kushal Bhurtel 3 for 16.&nbsp; There was more excellence in the field, with the Nepali team taking seven catches, many of them very tricky ones right on the edge of the ropes. This second win sealed the series victory, also a first for Nepali cricket. The margin of victory and the team’s overall dominance were both very obvious.&nbsp; Nepalis in the UAE showed up at the Sharjah Stadium in full support for the Rhinos, wearing jerseys, flags, and dhaka topis, raucously cheering on the team’s performance.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251001031052_217ceb7078e9c253f8db6fec57911eb8e56822e3fc20d520d39e06f475fd6d65.jpg" data-media-id="editor_1" data-image-id="20251001031052_217ceb7078e9c253f8db6fec57911eb8e56822e3fc20d520d39e06f475fd6d65" data-rendition-name="original" width="1440" height="960" loading="lazy" alt="Nepal defeats West Indies NT 1"> </figure>  Fresh on their minds must have been recent protests back home. The Cricket Association of Nepal dedicated the series to those who lost their lives. Captain Rohit Paudel also dedicated his man of the match award from the first T20 to the 74 people killed last month in Nepal.&nbsp; “Since last one month has not been that great for us, so slowly we are getting better. It is great to give a little happiness to the people of Nepal,” said Paudel.&nbsp; Leg-spinner Sandeep Lamichhane was notably absent from both matches, having excused himself from the squad for personal reasons.&nbsp; “It is what it is,” said coach Law. “we are a very competitive team and someone has to stand up in his place.”&nbsp; The wins also open the possibilities for further series, with countries such as Bangladesh, Pakistan or Zimbabwe.&nbsp; CHASING TESTS  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251001031048_70fed823c34d91dfefc078cb5786c2ea04ad70387fbf09424a5304b926cc3e3c.jpg" data-media-id="editor_2" data-image-id="20251001031048_70fed823c34d91dfefc078cb5786c2ea04ad70387fbf09424a5304b926cc3e3c" data-rendition-name="original" width="1600" height="995" loading="lazy" alt="Nepal defeats West Indies"> </figure>  In international cricket, a ‘Test-playing nation’ is a country that is authorised to play Test Matches by the central governing body, the International Cricket Council (ICC). Test Matches are the longest format of the sport, lasting up to five days, and are the most prestigious.&nbsp; Currently, this exclusive group is made up of Australia, Bangladesh, England, India, Ireland, New Zealand, Pakistan, South Africa, Sri Lanka, West Indies, Zimbabwe, and Afghanistan.&nbsp; Nepal has a ways to go. To become a Test-playing nation, it must first become a full member of the ICC. To do this, they must consistently qualify for ODI and T20 world cups over eight years, and have at least two ICC-accredited venues for hosting matches — currently only the Tribhuvan University Cricket Ground qualifies.&nbsp; Nepal must also have significant youth development infrastructure, a good domestic setup, and a recognised governing body that is financially stable and not corrupt.&nbsp; With the current development of stadiums across Nepal and innovations such as the Nepal Premier League, and performances such as these, Nepal seems firmly on the way.&nbsp;

2-1 for Nepal against The Windies

As dusk fell over Kathmandu, the thunderstorm continued unabated. It had been raining continuously for 18 hours, and the forecast said it would keep raining at least till 8am on Sunday. The Bagmati roared through Chobhar Gorge in awesome rapids – the only drainage outlet for the entire Kathmandu Valley. By evening, 120mm of rain had fallen in 18 hours, more than the average for the whole of October.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004161016_99ad9098124bec91da71ac42bbe889981fe64dda2dd3012b8bb289cf78ba4c54.jpg" data-media-id="editor_0" data-image-id="20251004161016_99ad9098124bec91da71ac42bbe889981fe64dda2dd3012b8bb289cf78ba4c54" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="Kathmandu floods 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004161016_59b97f3a3b2af91d3876b298963b3e68395c8b388aba6d9972c9bde1f668608d.jpg" data-media-id="editor_1" data-image-id="20251004161016_59b97f3a3b2af91d3876b298963b3e68395c8b388aba6d9972c9bde1f668608d" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="Kathmandu floods 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004161016_1715f4d6ff1ee87302b697d3c95df36486bea71ed279852ef606c8f5dc68439b.jpg" data-media-id="editor_2" data-image-id="20251004161016_1715f4d6ff1ee87302b697d3c95df36486bea71ed279852ef606c8f5dc68439b" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="Kathmandu floods 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004161016_ecd3dec69270afbd5a5c71dfa71780b6f8982984a95f3fbb83f23ee594451224.jpg" data-media-id="editor_3" data-image-id="20251004161016_ecd3dec69270afbd5a5c71dfa71780b6f8982984a95f3fbb83f23ee594451224" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="Kathmandu floods 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004161016_53e47ae222c9f4397bcdad6d8021a711a5671fd45373fb3df2ed5c6413d58359.jpg" data-media-id="editor_4" data-image-id="20251004161016_53e47ae222c9f4397bcdad6d8021a711a5671fd45373fb3df2ed5c6413d58359" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="Kathmandu floods 2025"> </figure>  Settlements along the banks of Bagmati and Vishnumati in Kathmandu have been evacuated and affected families will be temporarily sheltered in schools across the capital.&nbsp; Bagmati Province has set up a Unified Command Team for disaster management while the Home Ministry has instructed CDO and security personnel to be on duty 24/7.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004171048_7e5d10f8e0042190e54e6db6cddbd51ed9d6d9dbc0cdb087d7af3207c9eaa2d0.jpg" data-media-id="editor_5" data-image-id="20251004171048_7e5d10f8e0042190e54e6db6cddbd51ed9d6d9dbc0cdb087d7af3207c9eaa2d0" data-rendition-name="original" width="1600" height="888" loading="lazy" alt="heavy rain in Kathmandu"> <figcaption>Friday's satellite precipitation forecast for Sunday morning at 0600 showing heavy rainfall along the Chure Hills and Madhes Province south of Kathmandu. </figcaption> </figure>  The torrential rain has obstructed several highways as well as caused infrastructure damage, but no human casualties have been reported so far. Many had feared a repeat of the deadly flashfloods on 28 September 2024 in which 200 people were killed and half of Nepal's hydropower generation capacity siped out. The government has declared 5 and 6 October as a public holiday to prevent people from travelling during the Dasain festival, and to reduce risk. All highways in and out of Kathmandu closed till Monday. Flood-prone river corridor roads in Kathmandu have been closed after 6PM on Saturday. Meanwhile, all domestic flights were suspended from Kathmandu and other airports from 2PM Saturday, and most inbound international flights were diverted from 3PM onwards. Rerouted flights started arriving in kathmandu late Saturday as the core of the storm system moved east.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004151056_bad029b05dbfda622986270a798edc6efcc2791ff34f53b9d1283554ac72c39a.jpg" data-media-id="editor_6" data-image-id="20251004151056_bad029b05dbfda622986270a798edc6efcc2791ff34f53b9d1283554ac72c39a" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="heavy rainfall in Kathmandu 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004151052_9e740929c7ef0899b0f397195695b873bba45b089bb1e11cf37dbe125d0cd60d.jpg" data-media-id="editor_7" data-image-id="20251004151052_9e740929c7ef0899b0f397195695b873bba45b089bb1e11cf37dbe125d0cd60d" data-rendition-name="original" width="2048" height="1363" loading="lazy" alt="heavy rain in Kathmandu 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004151056_2b75c2ea57df76dae1c470f0e460720b7d258868258789729e491ab93cb41ebd.jpg" data-media-id="editor_8" data-image-id="20251004151056_2b75c2ea57df76dae1c470f0e460720b7d258868258789729e491ab93cb41ebd" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="heavy rainfall in Kathmandu 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004151056_6c045ac30e50710bcf3ca7b6ca4ac9c45e8d8881ed39f522779c860b0d3f15c3.jpg" data-media-id="editor_9" data-image-id="20251004151056_6c045ac30e50710bcf3ca7b6ca4ac9c45e8d8881ed39f522779c860b0d3f15c3" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="heavy rainfall in Kathmandu 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004151052_9ef160b8403764495b86159661cc9a11d9d7d3b848686a631e5ec8cff0c4c38f.jpg" data-media-id="editor_10" data-image-id="20251004151052_9ef160b8403764495b86159661cc9a11d9d7d3b848686a631e5ec8cff0c4c38f" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="heavy rain in Kathmandu 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004151052_e5825bcc6666e5235d9db2d4854a19cd6536335ebaf4cd65413acc601ceee3b5.jpg" data-media-id="editor_11" data-image-id="20251004151052_e5825bcc6666e5235d9db2d4854a19cd6536335ebaf4cd65413acc601ceee3b5" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="heavy rain in Kathmandu 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004151056_097077400e96f571f4418cd7b57c082045d86dd9035c31c5acd7ede2bfc54349.jpg" data-media-id="editor_12" data-image-id="20251004151056_097077400e96f571f4418cd7b57c082045d86dd9035c31c5acd7ede2bfc54349" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="heavy rainfall in Kathmandu 2025"> </figure>   <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251004151056_30a4da8f384f6fe1a862e775124ae08ccf51c1db60e71e7e2d683e0f25f33546.jpg" data-media-id="editor_13" data-image-id="20251004151056_30a4da8f384f6fe1a862e775124ae08ccf51c1db60e71e7e2d683e0f25f33546" data-rendition-name="original" width="2048" height="1365" loading="lazy" alt="heavy rainfall in Kathmandu 2025"> </figure>  Madhes, Bagmati and Kosi provinces are the worst hit with Maheshpur in Rautahat district recording 270mm of rain as of 3PM on Saturday. Similarly, Gaur received 243.6mm, Kalaiya in Bara 200.6mm and Birganj 221.4mm. The Department of Meteorology did not blame climate change, but said the unusually heavy precipitation at a time when the monsoon is supposed to have ended was caused by the head-on collision between moisture-laden westerlies with the retreating monsoon.

More dark clouds over Nepal

Nepal is still reeling from the short but violent GenZ moment, and the reverberations are being felt around the world.&nbsp;
As news from the killings and rampage from Nepal on 8-9 September spread through the wire services and social media, in the Philippines, East Timor and even faraway Peru, banners on the streets last week referred to ‘learning lessons from Nepal’. In Ladakh last week, <a href="https://www.aljazeera.com/news/2025/9/25/bloodiest-day-how-gen-z-protest-wave-hit-indias-ladakh-killing-four">protesters set fire to the ruling BJP party office</a> and four people were killed in police firing.&nbsp;
Nepal’s GenZ was praised by <a href="https://www.nytimes.com/2025/09/19/opinion/asia-protest-youth-nepal-bangladesh.html">international commentators</a> for rising up against chronic corruption and impunity, and for achieving the fastest regime change in history. But the youth were also blamed for the arson and vandalism even though the groups said they had no part in it — most &nbsp;foreign media also did not highlight enough the infiltration by radical groups.
“We were not expecting the protests to turn so violent and deadly. On the second day, things escalated so quickly it became difficult to keep track. We were rushing on the groud and making calls to confirm what was happening,” recalls Paavan Mathema of Agence France-Presse (AFP) in Nepal.
The GenZ protest this month was a lesson on the mechanics of social media. Hashtags like #youthagainstcorruption and #nepobaby from Indonesia inspired Nepal’s youth to take to the streets, but events here in turn triggered protests elsewhere. The international news agencies and mainstream global tv channels were not as important in this information cross-pollination.
The movement was organised online and spread quickly in no time, but it was disinformation and fake news that spread faster than facts. The over-simplification by international media was because it had to explain 30 years of political evolution in a country that they mostly ignored in the past, this sometimes tended to be misleading.&nbsp;
While the Oli government’s social media ban of 26 platforms starting 5 September poured oil on the fire that had already been lit by a disparate group of desperate youth, their outrage over decades of corruption and impunity was reaching a breaking point. There was extreme disenchantment with serial politicians recycling themselves in power.&nbsp;
“The ban on social media definitely triggered the protest, but we put a high priority on accuracy and speed during reporting in such times,” explains the Nepal correspondent for Associated Press (AP) news agency in Nepal Binaj Gurubacharya. “Our own safety also becomes a prime concern in times like these, but should not be at an expense of accuracy.”
CRISIS REPORTING
But headlines everywhere including in The New York Times, The Guardian and others that used wire service content initially highlighted the social media ban as the main reason for the protest. They were soon called out by protesters, while <a href="https://institute.aljazeera.net/en/ajr/article/3358" target="_blank">Al Jazeera</a> and its <a href="https://institute.aljazeera.net/en" target="_blank">Media Institute </a>were applauded for more nuanced coverage.
Another positive example of international media supplementing the stories by local journalists was <a href="https://www.france24.com/en/" target="_blank">France 24’</a>s detailed <a href="https://www.france24.com/en/asia-pacific/20250915-nepal-police-protests-violence-kathmandu" target="_blank">forensic analysis</a> of the security forces firing live ammunition at protesters at Parliament on 8 September.&nbsp;
What really went far and wide around the world were dramatic YouTube videos about the violence, and memes on social media. <a href="https://nepalitimes.com/here-now/the-accidental-journalist" target="_blank">A British tourist</a> who filmed street protests did the work of an on-the-ground journalist and got millions of views globally for some of <a href="https://www.youtube.com/watch?v=Slq6zWu9o9w" target="_blank">his YouTube videos</a>.&nbsp;
But some of the misinformation or fake news on social media was also picked up by the mainstream press, like the <a href="https://timesofindia.indiatimes.com/world/south-asia/nepal-violence-ex-pm-khanals-wife-dies-after-house-torched-president-urges-calm-dialogue/articleshow/123791004.cms">wrongly reported death of former Prime Minister Jhalanath Khanal’s wife</a> in an arson attack on their home. A video of the Finance Minister Bishnu Poudel being <a href="https://www.ndtv.com/world-news/video-nepal-finance-minister-chased-through-street-kicked-attacked-9243749">chased and beaten</a> by protesters also turned out to be someone else.&nbsp;
Some international outlets, mainly in India, also fell prey to a fake video that K P Oli had fled to Dubai. Even this newspaper’s online edition had to correct it after wrongly reporting it without verification.&nbsp;
Indian tv channels which did &nbsp;extensive coverage of events in Nepal, with many Nepalis relying on them and believing their content — especially during the protests when Nepal’s main channels went off air as they were being attacked.
All this got out of hand, and protesters in the week after the violence started ridiculing and harassing Indian tv correspondents as they tried to interview talking heads outside the charred Parliament building, or on the streets.
<a href="https://www.newslaundry.com/2025/09/09/foreign-hand-gen-z-data-addiction-5-ways-indian-media-missed-the-nepal-story">Indian media</a> were also the first to accuse US involvement in sparking a ‘colour revolution’ in Nepal. They later claimed that former Nepal Electricity Authority (NEA) chief and now Energy Minister Kulman Ghising and even Kathmandu Mayor Balen Shah have been appointed interim prime minister in Nepal. These were rumours in Nepal, but were reported as news.&nbsp;
“Fact checking is crucial while covering such movements, and since we are telling an important story about Nepal to the world, double checking becomes important as it sets the international narrative,” says Mathema.
“We were constantly double checking numbers and information with concerned authorities and parties to make sure we were accurate, especially as misinformation was rampant,” she adds.
Apart from Indian media, international news agencies got reinforcements of reporters, photojournalists and editors from the region, and other foreign correspondents also flew in when Kathmandu airport was opened after 48 hours.
Adds Mathema: “Sometimes foreign reporters can give a fresh perspective or an angle which we could not see or cover. So their inputs are always helpful.”
In the aftermath of the violence, there were plenty of jokes and memes, clips of protesters dancing, in weird poses and performing martial arts, showcasing the light hearted side of the protests while also <a href="https://nepalitimes.com/here-now/nepal-s-meme-revolution">reaffirming the resilience</a> of people able to bounce back from something so traumatic.
The GenZ clean-up campaigns, neighbourhoods helping restore burnt out police stations and local people’s emotional reaction to the burnt out hulks of government buildings at the city centre also <a href="https://www.scmp.com/week-asia/people/article/3325635/nepals-gen-z-protesters-lead-clean-campaign-after-violent-clashes">made news</a>.
“After the protests, people were quick to gather and clean up public spaces and paint police stations. This is a scene which may not be so common in other countries with similar violence,” adds Gurubacharya. “So it became an important story to also tell the world.”&nbsp;
In less than two days, the world saw a dramatic toppling of a democratic government. With the interim government led by former chief justice Sushila Karki, there is much hope. She has expanded her ministerial cabinet, and the election has been announced for 5 March 2026 but between then and now, a lot remains uncertain.&nbsp;
And Nepal will continue to be watched by national and international media alike until then and after. AP’s Gurubacharya sums it up: “For now, we are taking it one day at a time.”

International spotlight on Nepal

Kathmandu: A Reader, the latest publication from Martin Chautari, is an anthology of anthropological essays exploring Kathmandu through various lenses across the 21st century. This compilation is edited by Benjamin Linder and attempts to bring modern discourses on Kathmandu and its urbanity together, in a single volume. The book is divided into three sections: the physical form of the city, the imprints it bears from past political upheavals, and the complexity in the lives of its people. The book examines these diverse aspects, leaving readers who have just witnessed the momentous events of September with anxiety, and perhaps a greater understanding of Kathmandu’s context. Urban planning expert Biresh Shah’s discourse on the Valley’s urban sprawl and its landmarks is insightful, but also prophetic when he warns about seismic risk.&nbsp; Jan Brunson’s chapter on female mobility in Kathmandu via scooters is more optimistic, suggesting small-scale, daily-life movements in Kathmandu transform the city for its various demographics — in this case young women.&nbsp; Linder himself contributes with a discourse on the toponymy of Thamel, close-reading Kathmandu’s tourist hub through the usage and understanding of its name over the ages. MYTHBUSTERS The book is a collage of pieces held together by a thread that runs through the chapters of a vibrant, bustling image of the Valley. One common theme is Linder’s attempt to expand on common understandings and urban myths about Kathmandu. Readers who have spent time in the city will relate to the many anecdotes. for example, Niels Gutschow bringing up the lack of open spaces, or Mark Liechty mentioning restaurants in Kathmandu being melting pots of cultures and castes.&nbsp; The essays here further extend these urban legends by giving historical and anthropological contexts. In-migration and the rise in land prices have led to shrinking open spaces, the creation of cosmopolitan food outlets, and even hubs for sex workers. The Bagmati cleanliness campaign extends to a past understanding of the Bagmati Civilisation. Urban myths become puzzles to be solved by connecting the various threads of discussion across the book. The sections in Kathmandu: A Reader are all by experts in their various fields and present a holistic, well-rounded picture. Yet, it is obvious there is still more ground to cover, more themes to explore — perhaps by more Nepali scholars.&nbsp; In his introduction, Linder admits that due to practical reasons, ‘many wonderful works were left on the cutting room floor’. That is a pity. Indeed, there could have been more discourse on the changing ethnic composition of Kathmandu. A close-read into the lives of people termed as ‘outsiders’ but forming a growing slice of the population would be important to also chart future trends. &nbsp; The religious importance of Kathmandu as a unique civilisational alloy forged by melding the Hindu and Buddhist faiths can be explored more too. One can imagine a future edition including an examination of the post-Covid era Kathmandu valley.&nbsp; This need to broaden the ethnographic literature on Kathmandu becomes more apparent because 11 out of the 15 essays here are written by non-Nepali scholars, including the entire section focusing on urban cultural politics. Linder explains in his introduction that this was largely due to the community of academics in Nepali urban studies being fairly small. Kathmandu: A Reader then becomes even more integral as a gateway for new authors looking to work in the space of urban research on the Valley — undergraduates in the humanities for future theses and research ideas.&nbsp; In a time when Kathmandu is littered with new exam coaching centres for medical and engineering students, an anthology like this helps remind young scholars that there is plenty of scope for qualitative research in the social sciences. Sabin Ninglekhu’s discourse on the sukumbasi and aesthetics in Kathmandu are reminders that stories and academic journeys can be inspired from one’s surroundings. Kathmandu: A Reader has a good balance between academic and lighter readings, and is almost encyclopaedic in nature. There is even content about Kathmandu’s gangsters and scooty girls — allowing readers to venture deeper into their milieu.&nbsp; Kshitiz Pratap Shah is a recent graduate in English from Ashoka University.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251002051016_c8ce28ecfd0dde4986023822b3d40360ead97d29b7f186f6494d8da67021c5a5.jpg" data-media-id="editor_0" data-image-id="20251002051016_c8ce28ecfd0dde4986023822b3d40360ead97d29b7f186f6494d8da67021c5a5" data-rendition-name="original" width="1136" height="702" loading="lazy" alt="Kathmanu a reader"> </figure>