NRB takes action against three commercial banks
Summary
Nepal Rastra Bank has taken action against NIC Asia Bank, Global IME Bank, and Nepal Investment Mega Bank for breaches of banking regulations and directives.
Key Points
- Nepal Rastra Bank fined former NIC Asia Bank Chairperson Tulsi Ram Agrawal and former CEO Roshan Kumar Nyaupane Rs 200,000 each for repeated directive breaches.
- NIC Asia Bank was penalized for publishing unauthorized financial statements and not complying with NRB's written orders.
- Global IME Bank was cautioned for inadequate loan loss provisions and non-compliance with loan rescheduling and restructuring guidelines.
- Nepal Investment Mega Bank was warned for improper loan documentation, missing customer signatures on loans exceeding guarantees, and interest rate discrepancies violating capital loan guidelines.
