The central bank took the action after the banks failed to comply with its direction. The banks had kept operating suspended accounts against NRB direction. Similarly, they had charged a high premium in loan extension. Moreover, the banks are also accused of giving loans below the base rate.
The supervision department of NRB found out that Bank of Kathmandu, Agriculture Development Bank, Prabhu Bank, Kumari Bank, Prime Commercial Bank, Himalayan Bank, Sunrise Bank, Global IME and Mega Bank have acted against NRB direction.t
NRB has fined Agriculture Development of Rs 2 million for its action against the Money Laundering Act and directions.
