Bankers arrested for alleged loan irregularities released on bail

KATHMANDU: In a significant turn of events, ten bankers, including the former CEO of Century Commercial Bank, have been released on bail after their recent arrest on charges related to lending practices.

The decision, announced today by SP Hobindra Bogati, spokesperson for the Nepal Police Central Investigation Bureau (CIB), has sparked debates surrounding financial regulations and accountability.

The arrested individuals, accused of sanctioning loans exceeding collateral values, were granted bail under the strict condition of daily appearance before authorities.

This development comes as Nepal Rastra Bank’s expert team continues its thorough investigation into the alleged irregularities within the banking sector.

Among those released on bail are prominent figures such as Tulsi Ram Gautam, the former CEO of Century Bank, alongside Manoj Neupane, Sabin Ghimire, Subash Shrestha, Anupama Shrestha, Sunil Basnet, Dilip Baral, Dipesh Pradhan, Rajesh Bhandari, and Raman Shrestha, all currently associated with Prabhu Bank.

The decision to grant bail has ignited discussions regarding the accountability of financial institutions and the regulatory framework governing banking practices in Nepal.

As the investigation unfolds, stakeholders eagerly await further developments in this high-profile case, which has cast a spotlight on the integrity and transparency of the country’s banking sector.