Two aircrafts of Buddha Air made an emergency landing at Tribhuvan  International Airport (TIA) today.

The  aircraft 9N-AMD which had departed for Dhangadi had to make an emergency landing after its departure from TIA. The Buddha Air source states that it was a technical problem with the aircraft which led to the emergency landing of the aircraft at 18:00 NST. When the Flight crew noticed the technical glitch in the aircraft they decided to return back to the airport. The aircraft made a safe emergency landing at TIA. It was reported there were 68 passengers on board travelling to Dhangadi. According to the company, the Buddha Air flight from Kathmandu to Dhangadi made an emergency landing in Kathmandu due to hydraulic problem

Buddha Air shifted those passengers to another aircraft and conducted another flight to Dhangadi after some time.

The company has stated that the exact problem of the aircraft will come out after the technical test done by the engineer and the aircraft will be taken into flight only on the basis of the technical report.

According to the airport, Buddha Air's flight U4 255 from Kathmandu to Dhangadhi landed in Kathmandu at 6:30 pm due to technical problem. Considering the risk of possible accident, the airport had deployed security mechanism during the landing of the aircraft.

Similarly, another aircraft made an emergency landing to TIA as well. The flight had departed to Nepalgunj. On its flight to Nepalgunj, one passenger lost consciousness during the flight so the Pilots had to return the flight back to kathmandu .

The flight took off again after the passenger was taken off the flight as reported by a top official of Buddha Air.

Also Read:

How safe is Nepali sky??

CAAN announces vacancy for large number of staffs 

The Civil Aviation Authority Nepal (CAAN) has announced vacancies for a huge number of staffs.

The regulatory body of aviation sector in Nepal has announced vacancies for different category of staffs. CAAN is a government owned governing body for aviation field so it has 

The CAAN has announced vacancies for 164 staffers including 34 senior officers under both open and inclusive category.

Out of 34 staffers, 19 vacancies have been announced under open category, five under women category, four for indigenous nationalities, three under Madhesi, one Dalit, one physically impaired and one under backward region category.

Similarly, 18 vacancies have been announced for 18 officers for air traffic services. Of them, 10 vacancies have been announced under open category and the rest has been announced under inclusiveness category.

Similarly, there have been posts lying vacant in civil, mechanical, administrative, legal, accounting and revenue sections.

Place of application: Online application has to be filled in the website of Nepal Civil Aviation Authority: www.caanepal.gov.np.

Application Fee Details: The examination fee is Rs.900 for Level 9, Rs.800 for Level 8, Rs.700 for Level 7, Rs.600 for Level 6, Rs.500 for Level 5, and Rs.500 for Level 4. 

It will cost Rs. 400. Candidates applying for the inclusive group will have to pay an additional fee of 50% of the prescribed fee for the respective level for each additional group. Candidates who apply only in the inclusive group will have to pay an open fee.

How to submit the application fee online: Go to the Applied Job Option of the Online Job Application System of the Authority, click on the View Detail Options of the advertisement number of the application you have applied for, click on the Add Payment Detail Button and choose one of the Payment Option ConnectIPS or eSewa. The amount specified for the advertisement will have to be paid online.

Last date to apply: 2078-04-20. If there is a public holiday on the last day of application, the application form can be filled by paying the prescribed fee even the next day. The application form can be filled up by paying a double fee up to seven days after the last date of application.

Educational Qualification, Certificate of Inclusion, Council Registration Certificate, Training, Experience, and Service Period obtained after the last date of application 2078-04-20 will not be valid.

The written examination will be conducted by the Public Service Commission. Contact Date for Written Examination: 2078-05-10.

Age Limit: Must have completed 18 years of age for assistant level and 21 years for officer level and not exceeding 35 years in case of men and not exceeding 40 years in case of women and disabled by the last date of application. Not exceeding 40 years for the post of 8th level and above. There is no age limit for CAAN's permanent rehabilitation staff.

Must not have been disqualified for future service by a government or government-owned entity or authority.The court has not found him guilty in the criminal case of moral turpitude.

Candidates applying for the post of eighth grade or above must have at least five years of experience in the civil service of the Government of Nepal, government service, or official level post of university or teacher service or organization. However, in the case of a candidate who has obtained a doctorate degree, he can be a candidate even if he has less than two years of experience.

Place of work: Any office under the authority.

Required Documents to Submit: Certificate of Nepali citizenship, transcript of minimum educational qualification, certificate of character (age open), certificates of training should be attached with the application form. When applying for the open competitive examination for the post of level 6 or above, one has to submit the certificate registered in the concerned Professional Council.

In order to determine the equivalence, a certified copy of the equivalent determination must be submitted.

Application forms that have not completed the prescribed procedures will be submitted at any time. CAAN will not be obliged to refund the examination fee of the applications which have been canceled in this way.

Total no. of vacancies: 161

1. Position : Manager

> No. of vacancies: 2

> Level: 9

> Service: Technical

2. Position : Deputy Manager

> No. of vacancies: 4

> Level: 8

> Service: Administration/ Technical

 3. Position : Sr. Officer

> No. of vacancies: 58

> Level: 6

> Service: Administration/ Technical

4. Position : Officer

> No. of vacancies: 20

> Level: 6

> Service: Administration/ Technical

5. Position : Sr. Assistant

> No. of vacancies: 20

> Level: 5

> Service: Administration/ Technical

6. Position : Assistant

> No. of vacancies: 38

> Level: 4

> Service: Administration/ Technical

It's raining outside Monsoon is already at our doors. With ever drop of rain, sometimes you are left with no choice other than to enjoy the rain. A cup of Hot Tea/Coffee, earpods plugged in your ears and a playlist of beautiful songs related to rain and a view from your window or terrace. Have you ever had that feeling? 

With the pitter-patter of silver droplets dripping from the dark sky, it adds the flavor of love in your mood. Maybe that’s a reason why, since time immemorial, musicians from around the world have been creating music inspired by rain.  And here we have listed some of the evergreen Nepali tracks inspired from the rain that might set the romantic mood this monsoon.

Top 10 Nepali songs related to Rain

1. ‘Ye Jhari’ : Nabin K Bhattarai

Whenever it’s a rain song, ‘Ye Jhari’ by Nabin K Bhattarai tops the list as I can assure you there is no any single personnel who haven't listened to this track.With a blend of soothing music composed by legendary musician Shambhujeet Baskota and romantic lyrics penned by Dr Arun Sayami, the classic number will certainly set the romancein you in a rainy day.

 2. "Jhari Pareko Din" : Babin Pradhan

One of the best songs to enjoy during the rain but very few know it's a true story based on the air crash that took the life of beloved Babin Pradhan's lover who inspired to this song. Once you know this fact, You will relate to every words and the pain illustrated through the song.

3. "Sawane Jharima" : Asha Bhosle

Our Old classical songs are so beautiful and soothing to our ears that when you acknowledge the beauty you will adore it even more.If you are Nepali old school music lover and at same time you are desperately missing someoneone during a rainy day, you will certainly love this song ‘Sawane Jharima’. Sung by the legendary Indian singer, Asha Bhosle, the song is from the classic movie ‘Lahure’. With heart touching music composed by Ranjeet Gazmer, heartfelt lyrics penned by the duo Kusum Gazmer and Tulsi Ghimire this rainy song simply makes your day perfect.

4. "Asharai Mahina ma" : Chujan Dukpa

One of the classics which you shouldn't miss during the rainy day is the song "Asharai Mahinama"

This is song of a man who has moved on some foreign place who misses his lover back in his hometown along with a child of his. He remembers all the hardship his partner might be going through on rainy day and her request not to leave her for a foreign place.

5. "Sim Sime Paanima " : Rekha Shah and Prem Raja Mahat

One of the most famous folk duet song every one remembers when there is a word "rain" in it. Though the song is totally not related to rain but its very popular with the word rain in it. It used to be the most played track in different functions and the singers duo gained a lot of fame through the song.

6."Paani Paryou  aashina Jharyou" : Almoda Uprety

This song had such a catchy tune which led it to its huge popularity among the youths. The title of the song and catchy lyrics caught a huge attention among the youths which surged the popularity of the song and the way the song was choreographed that too made the song a hit. 

7. "Barsaat ma Uni Rujda" : Ram Krishna Dhakal

This is also one of the song which has significant attachment to rain which is sung by popular singer Ram Krishna Dhakal. The song describes a desire to be a drop of rain when his lover is wet in the rain. All the fantasies of the lyricist is expressed beautifully relating to rain in this song.

8. ‘Pani Paryo’ : Rohit John Chettri

‘Bistarai Bistarai’ Singer Rohit John Chettri has also created a musical number entitled ‘Panni Paryo’ inspired from the rain. Composed and written by the singer himself, When you listen to the song , the song can add the ingredients of love in your mood during the rain

9. ‘ Asaar’ : Bipul Chettri

How could you miss ‘Asaar’- a musical masterpiece created by Nepali singer based on Darjeeling while it’s raining? The folk tune - describing the beauty of monsoon, undoubtedly makes your day warm and cozy on a rainy day. Bipul Chettri has a lot of hits which captivates young music listeners and Asar is one of the favorites of him to help you enjoy your rainy day.

10. "Jham Jham Darkiyou Paani" : Pashupati Sharma

If you like to groove with the tunes of folk music, this song based on rain is for you. This is a song by Pashupati Sharma which will make you dance to its beats and make you forget it's a rain related song. A separate song among the songs listed above but I am sure you will not be disappointed to my selection.

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 Rastriya Banijya Bank Limited is issuing 10 crore units "RBB Mutual Fund 1" from today. The issue will open today, i.e. 23rd Ashar, and conclude on 27th Ashar, 2078. If not subscribed by the early closing date, the deadline can be extended till Shrawan 06.

13% of the total 10 crore units are allocated for the fund promoter Rastriya Banijya Bank and 2% for fund manager RBB Merchant Bank Ltd. The remaining 8.5 crore will be subscribed via the public issue.

About Fund Sponsor (Rastriya Banijya Bank Limited)

Rastriya Banijya Bank Limited-established on January 23, 1966-a synonymous of stable and people's bank in Nepal-is one of the pioneer Bank in the country with the history of more than half century. Earlier constituted under RBB act 2021 with the full ownership of the government of Nepal, the Bank has been running under Bank and Financial Institute Act (BAFIA) and Company Act (CA) 2063 at present. The Bank licensed by NRB as an 'A' class commercial Bank of the country, has grown up as an indispensable component of the Nepalese economy. Care Rating Nepal Limited had rated

CARE-NP-A+ (Is) denoted low credit risk.

Fund Management and Depository (RBB Merchant Banking Limited)

RBB Merchant Banking Limited, A Subsidiary Company of Rastriya Banijya Bank Limited with 100 percent equity holding. RBB Merchant Banking Limited (RBBMBL) was incorporated as per the Company Act, 2063 in January 29, 2016 and was granted Merchant Banking operating license (As per the Merchant Banker Regulation 2064) by the Securities Board of Nepal (SEBON) in June 11, 2017. The strength of our parent company, coupled with our huge network and experience will hopefully act as the premier and trusted provider of customer-centric and innovation-driven investment banking services in Nepal. ICRA Nepal Limited had rated ICRANP AMC Quality 3 (AMC3) denotes adequate assurance on fund management quality

Degree of Risk and Projected Return of RBB Mutual Fund 1

Union Life Insurance IPO

Nepali Investors are provided with another investing opportunity. This time a Life insurance company is issuing an IPO to general Public. Union Life Insurance Company Limited is issuing 58,05,000 units of shares to General Public.

Company Information:

Union Life Insurance Company Limited (ULICL) is a public limited life insurance company (LIC), operating since July 2017. Union Life Insurance Company Ltd. has been established and registered under Company Act 2063 and Insurance Act 2049 as a Public Limited Company (Regd. No. 168131/73/074) and got a license to operate Life Insurance Business on 2074/02/08(22nd. May 2017).

Its head office is in New Baneswor, Kathmandu. The company has an equity investment of multiple business houses in Nepal such as Jagadamba group, Golchha Organization, Gadiya group, Neupane group, Rajesh Hardware group & Tibrewala Group.

As of mid-July 2020, the major shareholders of ULICL include, Mr. Shekhar Golcha (~19.9%), Mr. Sahil Agrawal (~19.9%) Mr. Sulav Agrawal (~18%), Mr. Sandip Kumar Agrawal (~6.6%), Mr. Rahul Kumar Agrawal (~6.6%), and Mr. Sharad Kumar Tibrewala (~6.6%) among others.

PRESENT BOARD OF DIRECTOR'S COMPOSITION 

(i)   Mr. Sulav Agrawal                             -  Chairman

(ii) Mr.Sandeep Kumar Agrawal              -  Director

(iii) Mr.Jeewan Kumar Agrawal              -  Director

(iv) Mr. Debi Prasad Sharma                - Independent Expert Director

About the Issue:

Union Life Insurance Company Limited issuing 6,450,000 units of ordinary shares worth Rs. 64.5 crores to the general public from Ashad-24, 2078. The early closing date of this IPO issue is on Ashad-28, 2077 and if the issue is not subscribed till Ashad-28 then this issue can be extended up to Shrawan-7, 2078.

Out of offered 6,450,000 units; 5% of the issued capital i.e., 322,500 units have been allotted for the employees of the company and 5% of the total capital has been allotted for the mutual funds. The remaining 5,805,000 units are for the general public.

Applications can be placed for a minimum of 10 units and a maximum of 32,250 units.

Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance.

The paid-up capital will reach Rs. 2.15 Arba after the issuance of the public shares. After the IPO issue; public holding will be 30% and promoters holding will be 70%.

Credit Rating:

ICRA Nepal has assigned the issuer rating of [ICRANP-IR] BBB(pronounced ICRA NP Issuer Rating triple B) to UnionLife Insurance Company Limited (ULICL). Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations.

Grading Strengths:

• Adequate branch and agency network, experienced management and ownership
• Product mix dominated by endowment products; good policy continuation rate
• Adequate reinsurance arrangement
• Progressive profitability supported by investment earnings

Grading Challenges:

• Limited track record and therefore untested underwriting controls
• Suboptimal solvency margin
• impact of an ongoing covid-19 pandemic on the life insurance industry

(SOURCE: ICRA Nepal)

How much to apply for the IPO of Union Life Insurance ?

The total shares floated by Union Life Insurance Company Limited is 64,50,000 units, of which only 58,05,000 units are available to the general public that can be applied after the allocation of shares to staff of the company and mutual funds.

If we see the recently concluded IPO of previous issued IPO's, a total of more than 20 lakh applicants applied for the company IPO and we assume that the same or even more craze prevails in Union Life Insurance's IPO too. Since the 10 kitta rule exists for IPO; 5,80,500 applicants will be lucky enough to get the shares of Union Life Insurance Company Limited.

Hence, if the same number of applicants (or more) who applied for the previous IPO apply for this issue then there is a high probability of lottery for 10 units. Since the minimum unit is 10, it is advisable to apply only 10 units in the IPO issue of Union Life Insurance Company Limited.

Also Read:

Why You should never miss any IPOs issued in Nepal?

Nepali investors can invest in new IPO of Laghubitta sanstha from Ashad 17 (Todady). Manakamana Smart laghubitta sanstha limited is issuing IPO to general Public. There is craze to the shares of Laghubittas in secondary share market so there is no doubt this IPO is going to be oversubscirbed as well.

Company Info:

Incorporated in January 2018, as Manakamana Laghubitta Bittiya Sanstha Limited, the company started its operation in February 2018 as a licensed 10-district level class D microfinance institution. Later, the company merged with Smart Laghubitta Bittiya Sanstha and started joint operations from July 26, 2020, as a province-level (licensed to operate in Province 5) regional MFI in the name of Manakama Smart Laghubitta Bittiya Sanstha Ltd (MSLBSL). MSLBSL is promoted by 69 individual promoters engaged in different professions. Mr. Dev Singh Bista is the Chief Executive Officer of the company. The registered and corporate office of MSLBSL is in Siddharthanagar-5 Rupandehi, Nepal.

About the issue of IPO of Manakamana Smart Laghubitta Sanstha

Manakama Smart Laghubitta Sanstha Limited is issuing 389,000 units of ordinary shares worth Rs. 3.89 crores to the general public from Ashad 17, 2078. The early closing date of this IPO issue is on Ashad 21, 2078. If the issue is not subscribed till Ashad 21, 2078 then the issue can be extended to Ashad 31, 2078. Out of offered 389,000 units; 0.5% of issue capital i.e., 6,058 units have been allotted for the employees of the company, and 5% of the total offered to the general public i.e., 19,450 units have been allotted for the mutual funds. The remaining 363,492 units are for the general public.

Applications can be placed for a minimum of 10 units and a maximum of 1,000 units.

NMB Capital Limited has been appointed as the issue manager for the IPO issuance.

After the IPO issue, public holding will be 32.11% and promoters holding will be 67.89%.

Conclusion:

The total shares floated by Manakama Smart Laghubitta Sanstha Limited is issuing 389,000 units, of which only 363,492 units are available to the general public after the allocation of shares to staff and mutual funds of Nepal.

If we see the recently concluded IPO of previous issued IPO's, a total of more than 20 lakh applicants applied for the company IPO and we assume that the same or even more craze prevails in Manakama Smart Laghubitta Sanstha Limited IPO too. Since the 10 kitta rule exists for IPO; 36,349 applicants will be lucky enough to get the shares of Manakama Smart Laghubitta Sanstha Limited.

Hence, if the same number of applicants (or more) who applied for the previous IPO apply for this issue then there is a high probability of lottery for 10 units. Since the minimum unit is 10, it is advisable to apply only 10 units in the IPO issue of Manakama Smart Laghubitta Sanstha Limited.

Also Read:

Why You should never miss an IPO?