Central bank takes action against 3 commercial banks
KATHMANDU, AUGUST 8: Nepal Rastra Bank has taken action against three commercial banks for their failure to comply with various set criteria. These banks are Prime Commercial Bank, Kumari Bank and Himalayan Bank .
Prime did not abide by the loan loss provision, calculate the Risk-Weighted Assets under the capital adequacy framework below the actual value and charge interest rates by increasing the premium rate.
Similarly, the central bank imposed a fine of Rs 5 million 963 thousand for failing to maintain the 90 percent Credit-Deposit (CD) ratio in the Nepali month of Magh ( January 15 to February 12, 2023).
Likewise, Himalayan Bank was slapped with a cash penalty Rs 103 million 900 thousand for not maintaining the required CD ratio in the Nepali month of Kartik ( October 18 to November 16, 2023).
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