Kathmandu. Nepal Rastra Bank (NRB) has taken action against three commercial banks.

Nepal Rastra Bank (NRB) has taken action against chairpersons, directors and chief executive officers of ‘A’ class banks in the second quarter of the fiscal year 2082/83. NIC Asia Bank, Global IME Bank and Nepal Investment Mega Bank are among them.

NIC ASIA Bank has been found to have been publishing its financial statements in violation of the directives issued by the Nepal Rastra Bank (NRB).

The NRB has slapped a fine of Rs 200,000 each on the then chairman of the board of directors of the bank, Tulsiram Agrawal and the then chief executive officer of the bank, Roshan Kumar Neupane.

Likewise, the on-site inspection report of Global IME Bank, 2082 BS has found incompetence. Therefore, the Chief Executive Officer of the bank has been warned as per clause (a) of sub-section (2) of Section 100 of the Nepal Rastra Bank Act, 2-58.

Likewise, the bank has not maintained adequate loan loss as per the Integrated Directive No. 2-081 issued to the banks and financial institutions of class ‘A’, ‘B’ and ‘C’ licensed by the Nepal Rastra Bank.

Similarly, during the on-site inspection of the bank, it was found that the core banking software could recreate the already paid loan by keeping the old value date.

Similarly, Nepal Investment Mega Bank (NIBL) has issued an EPA issued by Nepal Rastra Bank. Direction No. Point No. 2-081. It has been found that the loan has been issued more than the guarantee of the loan without the signature of the customer in the documents related to the loan without fully complying with 3 (h) and the security has not secured the loan.

I.P. Directive No. Point No. 15-081. 3 (7) of the Guidance on Current Capital Loans, 2079 Point No. It was found that new short-term loans were issued in the last months of the month without full compliance with Clauses 8.5 and 10.12.

The NRB has warned the Board of Directors and Chief Executive Officer of the bank as per Section 100 (2) (a) of the Nepal Rastra Bank Act, 2058.