Nepal Rastra Bank Penalizes Three Financial Institutions Over Regulatory Breaches
Summary
Nepal Rastra Bank penalized Narayani Development Bank, Saptakoshi Development Bank, and Reliance Finance for regulatory breaches including lending limit violations, internal control failures, and cash reserve shortfalls during fiscal year 2082/83.
Key Points
- Nepal Rastra Bank took disciplinary action against three financial institutions for regulatory violations during fiscal year 2082/83.
- Narayani Development Bank breached lending limits by exceeding 10% of core capital to a single customer/group.
- Saptakoshi Development Bank failed in internal management, including missing vault cash and unauthorized account access.
- Reliance Finance was fined NPR 2,924.48 for not maintaining required cash reserves between Feb-Apr 2026.
