Kathmandu. Tulsi Ram Agrawal, chairman of NIC Asia Bank, has resigned from his post on Tuesday. Agrawal has resigned from the board of directors of the bank after the Nepal Rastra Bank took action against him repeatedly.

Nepal Rastra Bank (NRB) had imposed a fine of Rs 2 lakh each on former chief executive officer (CEO) Roshan Neupane and chairman Agrawal. The letter was received by the representative of the bank on December 4.

Agrawal resigned after receiving the letter. His resignation was approved by the Board of Directors on Sunday.