Sun, Apr 28, 2024
Nepal Rastra Bank (NRB) has taken action against half a dozen development banks due to non-compliance in the first quarter of the current FY.
The bank fined the development banks citing not keeping required reserve, lack of loan extension in deprived sector and non-maintenance of CD ratio.
Similarly, the bank also fined four finance companies for noncompliance of NRB directives.
The net profit of development banks has declined less compared to commercial banks and finance companies in the third quarter.
