Central Bank penalises two commercial banks
KATHMANDU, AUGUST 5 : Nepal Rastra Bank (NRB) has taken action against two commercial banks, Standard Chartered and NCC. The central move took such a move as these two banks failed to maintain their Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) as required by the current monetary policy.
Standard Chartered and NCC paid Rs 63,597 and 49,881 respectively as cash penalties to the NRB. Last fiscal year, there was a compulsory provision for the commercial banks to maintain 3 percent and 10 percent of the total deposits as CRR and SLR respectively. However, from the current fiscal year, the very provision has been changed to make it mandatory to maintain 4 percent as CRR and 12 percent as LRR.
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