Standard Chartered, NCC Bank face NRB action on failure to maintain CRR & SLR

KATHMANDU: The Nepal Rastra Bank (NRB) has taken action against two commercial banks; Standard Chartered Bank and Nepal Credit and Commerce (NCC) Bank for not maintaining cash reserve (CRR) and statutory liquidity ratio (SLR).

The central bank has fined Standard Chartered Bank and NCC based on off-site supervision conducted in the fourth quarter of the financial year 2022-23.

Standard Chartered has been fined Rs 63,597 and NCC Bank has been fined Rs 49,881.