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February 7, 2010: The recent leading financial event in Bhutan is the opening of Druk PNB in Thimphu. There are lots of speculation about easy availability of loans, lower interest rates and convenient access to rupee. However, such hopes and speculations need to be tampered with field reality. Banks in Bhutan operate under similar privileges and constraints dictated by RMA guide lines and market forces. Therefore, it could be a wishful thinking to hope that there would be monetary-wise incentives to customers when additional banks enter the existing market. As such the opening of Druk PNB this month may not necessarily bring about positive noticeable changes especially in interest rate although any reduction in interest rates would definitely bring more relief to customers. |
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Sibsu town: to stay or to move? |
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February 7, 2010: (Sibsu/Samtse)The relocation of Sibsu town at Belboti, about five kilometers away from the old town, was first proposed in 1992. But even after 18 long years, the town is stuck at its old place. And there are no signs of the town moving to the proposed location anytime soon.
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Dechencholing town’s dwindling business |
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February 7, 2010: Two years back, the Dechencholing town was shifted to its new location, below the highway. While people have come to terms with the fact that they had to move on, business at the new location hasn’t been good. |
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January 31, 2010: The last quarter of 2009 and this January, there has been an incredible flurry of GNH conferences from South America to Thimphu to Phuentsholing and finally in Paro stretching for 19th January – to – 12th February. Possibly, the final leap! The conference at Paro College of Education is on the subject of Educating for Gross National Happiness. The keynote address delivered by the Prime Minister at the first Principals workshop is lengthy and revealing. I try to reflect upon the phrases that self illuminate but I fail to hold on to the glow. The following essence of the subject of GNH as illuminated in the keynote address causes one to pause and wonder. |
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Will Druk PNB give other banks the run for the money? |
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January 31, 2010: The coming of Druk Punjab National Bank (DPNB) has its own pros and cons. While, the banks are bound for more competition, banking services are expected to improve eventually benefiting the customers.
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