Banking News – The Nepal Capital Market Discourse 2026 has concluded with discussions on the development, expansion, and reform of Nepal’s capital market. Regulators, government officials, industrialists, businessmen, brokers, and merchant bankers emphasized the need for reforms to make the market modern, transparent, and connected to the real economy.

Dr. Gopal Bhatta, Chairman of the Securities Board of Nepal (SEBON), informed that preparations are underway to move toward an AI-based supervision system to make market surveillance more effective. He stated that the market will be developed not only for share trading but also as a means for bonds, debentures, startups, and SMEs to raise capital. He also informed that preparations are underway to develop a system for real price discovery in the primary market, reform the IPO process, and introduce new broker regulations.

The program raised issues including the decline in market capitalization, the need for effective surveillance, risk management, and hedging tools. Speakers also emphasized SEBON’s autonomy and institutional reform, expansion of brokers into the investment banking domain, and the need to establish proper price discovery mechanisms in the market.

Despite approximately 7.5 to 8 million Demat accounts in Nepal, the number of active investors is only about 1.7 million, highlighting the need to prioritize financial literacy expansion. Speakers also emphasized the need to extend investor education to rural levels and make investors capable of understanding financial statements and balance sheets.

Govindayapali Ram Mohan Rao, Executive Director of the Securities and Exchange Board of India (SEBI), stated that Nepal is about to enter “Capital Market 2.0” and requires a clear reform plan for the next 10 years. Overall, the discourse concluded that policy and institutional reforms must be advanced to connect the capital market with production, employment, entrepreneurship, foreign investment, and economic growth.

The inaugural session featured speakers including Birendra Raj Pandey, President of the Confederation of Nepalese Industries; Kamlesh Kumar Agrawal, President of the Nepal Chamber of Commerce; Surakrishna Vaidya, Senior Vice President of FNCCI; Sagar Dhakal, President of the Stock Brokers Association of Nepal; and Ramendra Rayamajhi, President of the Merchant Banker Association, who shared their views on the long-term development of the capital market, investment expansion, and its connection with the real economy. SEBI Executive Director Govindayapali Ram Mohan Rao emphasized the need for a long-term vision for capital market reforms in Nepal.

The first session, “Product, Policy and Regulation: The Future of Nepal’s Capital Market,” featured Mahesh Acharya, Under-Secretary at the Ministry of Finance; Binay Dev Acharya, Executive Director of SEBON; Priya Raj Regmi, Chairman of FNCCI Capital Market Committee; Raj Kumar Timilsina, Executive Chairman of Vision Securities; and Arpan Khanal, Founder and CEO of National Capital, discussing new financial products, policy and legal reforms, SEBON’s autonomy, the role of brokers, and price discovery in the market.

The second session, “Informed Investors, Strong Capital Market: The Role of Awareness and Literacy,” featured Rupesh Kc, Executive Director of SEBON; Tulsi Ram Dhakal, Chairman of Investors Forum Nepal; Madan Poudyal, Chairman of NASA Securities; Manoj Poudel, Founder of Adhyanta Fund Management; and Parameshwar Pant, CEO of Himalayan Capital, discussing investor education, financial literacy, investor protection, and expansion of active investors.

The third session, “Technology and Innovation: The Future of Nepal’s Capital Market,” featured Narayan Prasad Sharma, Deputy Executive Director of Nepal Rastra Bank; Kanchan Sapkota, Acting CEO of CDS and Clearing Limited; Murahari Parajuli, Spokesperson of Nepal Stock Exchange (NEPSE); Manish Aryal, CEO of Citizens Share Broker; and Deepesh Kumar Vaidya, CEO of NMB Capital, discussing technology use in the capital market, digital infrastructure, trading systems, and innovation potential. Two special “Duologue” sessions were also organized during the discourse, featuring discussions with SEBON Chairman Dr. Bhatta and SEBI Executive Director Govindayapali Ram Mohan Rao.