<\/p>\n\n\n\n
Kathmandu, Feb 16: Nepal Rastra Bank has taken regulatory action against three commercial banks\u2014NIC Asia Bank, Global IME Bank Limited, and Nepal Investment Mega Bank Limited\u2014for allegedly violating the Nepal Rastra Bank Act and integrated directives for banks and financial institutions.<\/p>\n\n\n\n
NIC Asia Bank was found repeatedly breaching central bank directives by publishing financial statements without approval and failing to comply with written orders. As a result, former Board Chair Tulsi Ram Agrawal and former CEO Roshan Kumar Nyaupane were each fined Rs. 200,000 under Section 100 (2)(c) of the Nepal Rastra Bank Act, 2058 (amended 2073). Additionally, the bank\u2019s current CEO received a formal caution based on the on-site inspection report of Global IME Bank.<\/p>\n\n\n\n
Global IME Bank was cautioned for insufficient loan loss provisions and incomplete compliance with loan rescheduling and restructuring rules under the Integrated Directives 2081. The central bank noted that certain settled loans could be manipulated in the bank\u2019s core banking software by retaining old value dates, raising concerns over loan records.<\/p>\n\n\n\n
Nepal Investment Mega Bank Limited was found to have failed in securing loan documentation properly and disbursing loans exceeding guaranteed amounts without customer signatures. The bank was also cited for maintaining interest rates on similar loans with a discrepancy of over two percentage points and issuing new short-term loans at the end of the quarter in violation of the Current Capital Loan Guidelines, 2079. Consequently, the board of directors and the CEO of the bank were formally warned.<\/p>\n\n\n\n
The central bank released these findings as part of its report on actions taken during the second quarter of the current fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu, Feb 16: Nepal Rastra Bank has taken regulatory action against three commercial banks\u2014NIC Asia Bank, Global IME Bank Limited, and Nepal Investment Mega Bank Limited\u2014for allegedly violating the Nepal Rastra Bank Act and integrated directives for banks and financial institutions. NIC Asia Bank was found repeatedly breaching central bank directives by publishing financial statements …<\/p>\n","protected":false},"author":47,"featured_media":387021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3,4,5],"tags":[],"reporter":[],"class_list":["post-425069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-en-cover","category-english","category-en-news","category-top-stories"],"acf":[],"_links":{"self":[{"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/posts\/425069"}],"collection":[{"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/comments?post=425069"}],"version-history":[{"count":2,"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/posts\/425069\/revisions"}],"predecessor-version":[{"id":425071,"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/posts\/425069\/revisions\/425071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/media\/387021"}],"wp:attachment":[{"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/media?parent=425069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/categories?post=425069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/tags?post=425069"},{"taxonomy":"reporter","embeddable":true,"href":"https:\/\/radionepalonline.com\/en\/wp-json\/wp\/v2\/reporter?post=425069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}