Nepal Rastra Bank Fines Commercial Banks and Finance Companies For Failing to Meet Requirements

Three commercial banks have been fined for failing to maintain the required compulsory cash reserve and/ or statutory liquidity ratio.

The banks who have been fined by the central bank are: Nepal Bangladesh Bank Limited (NBB), Prabhu Bank Limited (PRVU), and Himalayan Bank Limited (HBL). HBL has been fined twice. The commercial banks have been fined from a minimum of Rs. 12,899.01 (Himalayan Bank) to a maximum of Rs. 35,695.12 (Prabhu Bank).

Similarly, a total of five finance companies have been fined by Nepal Rastra Bank. The companies have been fined for their failure to maintain the compulsory reserve, impoverished-class loans, and CCD ratio.

These are the finance companies that have been fined:

1) Samriddhi Finance Company Limited
2) Goodwill Finance Company Limited
3) Lalitpur Finance Limited
4) City Express Finance Limited
5) Janaki Finance Limited