Kathmandu. Nepal Rastra Bank (NRB) has taken action against 6 microfinance institutions.

According to the Microfinance Institution Supervision Department of the Nepal Rastra Bank, action has been taken against the institution, board of directors and chief executive officer in the fourth quarter of the fiscal year 2082/83.

The action taken against Forward Laghubitta Bittiya Sanstha, Dhaulagiri Laghubitta Bittiya Sanstha, Mathrubhumi Laghubitta Bittiya Sanstha, NIC Laghubitta Bittiya Sanstha, Bin Nepal Laghubitta and Sanjivani Laghubitta Bittiya Sanstha

The organization is limited.

As the minimum capital fund ratio was maintained at only 6.12 percent in Ashad end, 2082 BS, the company has been taken prompt corrective action as per the Bylaw 3 (a) of the Banks and Financial Institutions Byelaw, 2074 BS.

Similarly, Dhaulagiri has set the minimum capital fund ratio of only 6.38 percent in Ashad end, 2082 BS and the ratio is not as per the regulatory standard.

Similarly, the Motherland has maintained the minimum capital fund ratio of only 4.08 percent in mid-July and the ratio is not as per the regulatory standard.

Similarly, NIC had set the minimum capital fund ratio at only 6.39 percent in the last Ashad end of the fiscal year and the ratio was not in accordance with the regulatory standard.

Meanwhile, Bin Nepal has been fined Rs 58.38 for failing to maintain the mandatory cash reserve in the month of March.

Likewise, Sanjivani has been fined Rs 713.88, Rs 1,67.40, Rs 1,412.91 and Rs 1,410.78 for the first, second, third and fourth times for not maintaining mandatory cash reserves in the months of Chaitra, Baisakh, May and June 2082.