First Business News Portal in English from Nepal
KATHMANDU: Nepal Rastra Bank has taken action against 6 development banks and 4 finance companies. In the first quarter of the current financial year, these 10 companies, which did not meet the prescribed standards, have been fined by the regulator Rastra Bank.
Corporate Development Bank, Sindhu Bikas Bank, Narayani Development and Saptakosi Bikas Bank have been penalized for not maintaining the specified loan deposit ratio, according to the notification issued by the National Bank.
Similarly, Salpa Development Bank and Karnali Development Bank have been penalized for not maintaining the mandatory balance ratio. Karnali Bikas Bank has been fined more after not meeting the criteria even under the heading of poor category loans.
Similarly, finance companies Nepal, Janaki and Samriddhi have been fined for not maintaining the specified loan-to-deposit ratio. Progressive Finance has been fined for not maintaining the mandatory balance ratio.
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