“Nepal”derived from the word "Nepa" which refers to the Newar Kingdom, thepresent day Kathmandu Valley.In early Sanskrit sources (Atharvaveda Parisista) and in Gupta periodinscriptions, the country is referred to as Nepala. The Newars of presentday Nepal, the inhabitants of the Kathmandu Valley and its peripheries,were referred as "Nepa:" before the advent of Shah dynasty.Local legends say that a Hindu sage named "Ne" established himself in thevalley of Kathmandu in prehistoric times and that the word "Nepal" cameinto existence asthe place protected ("pala" in Sanskrit) by the sage "Ne".This folk etymology of the name Nepal means, "the country looked afterby Ne" *
He is said to have performed religious ceremonies at Teku,at the confluence of the Bagmati and Bishnumati rivers andto have selected a pious cowherd to be the first of the manykings of the Gopala Dynasty. These rulers are said to haveruled Nepal for over 500 years. He selected Bhuktaman tobe the first king in the line of the Gopala Dynasty. TheGopala dynasty is said to have ruled for 621 years. YakshyaGupta was the last king of this dynasty.However, according to the Skanda Purana, a rishi called "Ne"or "Nemuni" used to live in Himalaya. In the PashupatiPurana, he is mentioned as a saint and a protector. He issaid to have practiced meditation at the Bagmati andKesavati rivers and to have taught there. *
LocationNepal is of roughly trapezoidal shape, 800 kilometres (497 mi) long and 200kilometres (124 mi) wide, with an area of 147,181 km2 (56,827 sq mi) . Itlies between latitudes 26° and 31°N, and longitudes 80° and 89°E.Nepal is commonly divided into three physiographic areas: Mountain Hill Terai
Mountain Region (Parbat)situated in the Great Himalayan Range, makes up the northern part of Nepal.It contains the highest elevations in the world including 8,848 metres (29,029ft) height Mount Everest (Sagarmatha in Nepali) on the border with China.Seven other of the worlds eight thousand metre peaks are in Nepal or on itsborder with China:Lhotse, Makalu, Cho, Oyu, Kanchenjunga, Dhaulagiri,Annapurna and Manaslu. Mount Everest
Hill Region (Pahad)mountains varies from 800 to 4,000 metres (2,625 to 13,123 ft) in altitude.The Mahabharat Range reaching 1,500-3,000 metres (4,921 to 9,843 ft) isthe southern limit of this region, with subtropical river valleys and "hills"alternating to the north of this range.Southern lowland plainsor Teraibordering India are part of the northern rim of the Indo-Gangetic plains.They were formed and are fed by three major Himalayan rivers:Kosi, Narayani, and KarnaliThis region has a subtropical to tropical climate.Shiwalik or Churia Rangethe outermost range of foothills cresting at (2,297 to 3,281 ft) marks thelimit of the Gangetic Plain, however broad, low valleys called InnerTerai (Bhitri Tarai Uptyaka) lie north of these foothills in several places.
Population 26,620,000Birth Rate *39.3 per 1, 000populationDeath Rate *14.6 per 1,000populationGovernmentForm : constitutional monarchyIndependent : 1769Head of State : KingHead of Government: Prime MinisterLegislature : National PanchayatExecutive : King and Council of MinistersJudiciary : Supreme Court *Webster’s International Encyclopedia
Monetary Unit Nepalese rupee1 Nepalese rupee = 100 paisa
ReligionHinduism 80.6 %Buddhism 10.7%Islam 4.2 %Mundhum 3.6 %Christianism 0.5 %Others 0.4 %Majority of the Nepalese population follows Hinduism. Shiva isregarded as the guardian deity of the country. Nepal is home to thefamous Lord Shiva temple, the Pashupatinath Temple, where Hindusfrom all over the world come for pilgrimage. According tomythology, Sita Devi of the epic Ramayana, was born in the MithilaKingdom of King Janaka Raja.
AborigineThe Nepalese are descendants of three major migrations fromIndia, Tibet, North Burma and Yunnan.Earliest inhabitants:*Kirat of east mid-region*Newar of the Kathmandu Valley*Tharu in the southern Terai regionKumaon, Garhwal and Kashmir regions*the ancestors of the Brahmin and Chetri caste groupsNorth Burma, Yunnan and Tibet*ancestors of other ethnic groups e.g. the Gurung and Magar in thewest, Rai and Limbu in the east (from Yunnan and north Burma viaAssam), and Sherpa and Bhutia in the north (from Tibet).
Demonym Nepalese*Dialect and CommonLanguagesNepals diverse linguistic heritage evolved from four major languagegroups:Indo-Aryan MongolianTibeto-Burman and various indigenous language isolatesMajor languagesNepali (70%) Maithili (5%)Bhojpuri (3%) Tharu (4%)Tamang (3%) Newari/Nepal Bhasa (3.6%)Rai (2.8%) Awadhi (2.5%)Magar (2.4%) Limbu (1.5%)Bajjika (1%). *World Refugee Survey 2008
Need to knowWhen traveling to Nepal, it is helpful to be aware of the three main currency exchange rates:The Rastra Bank rate - this is the rate set by the governments official bank.Private banks rate - these rates are slightly more generous but still legal.Black market rate - these most generous (but illegal) rates are the ones set by carpet shops and travel agents.Exchange rates and commissions can vary a great deal so it is best to explore all options before exchanging money. When you change money legally, you receive a Foreign Exchange Encashment Receipt which shows the amount of hard currency you have exchanged. If leaving Nepal from the Kathmandu airport without having spent all of your rupees, you can exchange up to 15% of the amount shown on these unused receipts back into hard currency. * http://www.gocurrency.com/countries/nepal.htm
Nice to know If you visit a home in Nepal then you should also beextremely careful not to throw rubbish of any sort into anopen fire as fires are culturally held to be sacred.When eating, you should only use your right hand and ideally,you should try to drink without letting touching thedrinking implement with your lips. You should also avoid„polluting‟ food by „contaminating‟ it with a used utensil.The lower parts of the body are the least revered and therefore it‟simportant not to point at anything with your feet and it iscertainly not acceptable to touch anything with yourfeet. Since the head is spiritually the purest part of the body,then it‟s equally important that you do not make any kind ofphysical contact with it. This means that it is unacceptablefor you to pat a child on the head. * www.wikipedia.org
No. 1 ProductCarpetsTashling Handicraft Center was set up in 1969 under theinitiation of representative of central Tibetan refugeeadministration Dharamsala, India and Nepal Red CrossSociety. Its main objective is to help the Tibetan refugeeby providing them job opportunities and supportthemselves. Their other very important aim is to restoreand promote their age-old rare traditional fine art ofcarpet weaving and designs. *
CultureThe art and architecture of Nepal is deeplyinfluenced by the religion. Unique craftsmanshipcan be found in temples, architecture, shrines,fountains and the design of religious objects. Artand religion is so deeply interlocked that it isimpossible to separate the one from the other. Allart forms express both Hindu and Buddhisticonography. Nepalese are great foodies and their food varieties are hot, spicy and nutritious. Newari and Thakali cuisines are the original taste of Nepal. Otherwise, Nepalese style of cooking has been influenced by Indian and Tibetan cooking. Dal Bhat tarkari is the staple food of Nepal. Meat curries and monos are the hot favorites among the tourists.
Dashain FestivalThe longest and the mostauspicious festival in the Nepaleseannual calendar, celebrated byNepalese of all caste and creedthroughout the country. The fifteendays of celebration occurs duringthe bright lunar fortnight ending onthe day of the full moon. The first nine days of Dashain are called nawa ratri when tantric rites are conducted. In Nepal the life force is embodied in the divine energy and power of the female, depicted as goddess Durga in her many forms. http://www.nepalhomepage.com
Central BankNepal Rastra Bank (NRB), the Central Bank of Nepal, wasestablished in 1956 under the Nepal Rastra Bank Act,1955, to discharge the central banking responsibilitiesincluding guiding the development of the embryonicdomestic financial sector. Since inception, there has beena significant growth in both the number and the activitiesof the domestic financial institutions. *
To reflect this dynamic environment, the functions andobjectives of the Bank have been recast by the new NRB Actof 2002, the preamble of which lays down the primaryfunctions of the Bank as:* to formulate necessary monetary and foreign exchange policies to maintain the stability in price and consolidate the balance of payments for sustainable development of the economy of Nepal;* to develop a secure, healthy and efficient system of payments;* to make appropriate supervision of the banking and financial system in order to maintain its stability and foster its healthy development; and* to further enhance the public confidence in Nepals entire banking and financial system. *
Vision* To become “ A modern, dynamic, credible and effective Central Bank”Mission* To maintain macro-economic stability through sound and effective monetary, foreign exchange and financial sector policies. *
Business FinanceFinancialSystems Prepared by: Maybelyn U. Catindig BSEM 3-1 Submitted to: Prof. P. Veloz