NRB takes action against nine banks
05 May 2024
KATHMANDU: Nepal Rastra Bank (NRB) has penalized nine commercial banks for not abiding by the directives issued on various occasions.
The central bank, which alerted seven banks, has also imposed damages on Agriculture Development Bank (ADB) and Bank of Kathmandu (BOK).
NRB has imposed a fine of Rs. 2 million to ADB for the latter’s failure to comply with the money laundering act. Similarly, BOK has been fined Rs. 21.1 million for not investing under the poverty loan as per the set criteria.
Similarly, NRB has alerted the chief executive officers of Kumari,, BOK and Prime Commercial banks fo...
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