Six members of Indian family killed in a vehicular accident (BREAKING NEWS)

Kathmandu, 5 Aug: Six members aged between 15 to 45 years of an Indian family were killed when they were run over by a car in the capital Wednesday morning at Ratna Park.
The seventh member is undergoing treatment for injuries.
The accident and deaths sparked immediate protests.
Vehicular movement has been disrupted after angry residents burnt tires on the road at Bhadrakalki and in front of Bir Hospital.
Police are searching for the driver in the hit-and- run case.
The traders were hit on the pavement.
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Rishi panchami being observed

Kathmandu, 5 Aug: Rishi panchmi or janai purne was observed by Hindu men Wednesday replacing old sacred threads with new.
Priests also offer sacred rakysha bandan to all.
Rishis were also remembered.
Hindus took a ritual bath before accepting new threats from priests.
Sprouted beans were served during meals Wednesday.
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TRADE, COMMERCE, ECONOMY

Permits for new banks suspended

Kathmandu, 5 Aug: Nepal Rashtra Bank (NRB) through a public notification has stopped issuing permits for new banks and financial institutions until a completion of a study on principles and procedures to operate such institutions.
But the central bank said it will give permits to “D” class micro-finance institutions as subsidiary companies of A, B, and C class institutions to extend credit to the deprived sector.
The NRB decision came immediately after the reinstatement of
But the central bank will entertain applications of banks whose five percent paid-up capital have been collected and public notices have been issued.
Fees of other applicants will be returned, the bank said.
There are 26 commercial banks, 61 development banks and 78 financial institutions.
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12.3 percent inflation recorded

Kathmandu, 5 Aug: A 12.3 percent inflation was registered in the 11th month of the last fiscal year 2008/09 that ended mid-July, Nepal Rashtra Bank (NRB) said.
Government had attempted to bring it down to eight percent.
Increasing prices of food, beverages and vegetables fueled the double digit inflation.
Sugar price increased 62.3 percent in the review period while vegetable and fruit prices soared 55.5 percent.
Prices of meat, fish and eggs and pulses shot up 29.8 and 27.7 percent respectively.
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