The Nepal Rastra Bank (NRB) has taken action against three commercial banks for not following the rules. NRB officials have said that these banks didn't follow the regulations in the last quarter of the fiscal year 2022/23 and have been punished for it.
Kumari Bank and Himalayan Bank have been given fines because they didn't keep enough money in reserve compared to the loans they gave out, as required by the NRB.
Kumari Bank had to pay a fine of Rs 5.96 million in January of the last fiscal year for not following this rule.
Similarly, Himalayan Bank had to pay a fine of Rs 13.9 million for not following the rule in October of the last fiscal year.
On the other hand, Prime Commercial Bank has received a warning from the NRB. NRB officials said that this bank didn't follow the proper system for dealing with loans, which is required according to the instructions issued by the NRB.
Also, according to the 'Capital Adequacy Framework 2015', Prime Bank didn't calculate the value of risky assets correctly, as per the NRB's findings.
