Narayani Development Bank in Central Bank Action, Fine up to Eight Times

Kathmandu: National Bank has taken action against Narayani Development Bank. In the fourth quarter of the financial year 2022-23, Narayani Development Bank was subjected to Central Bank’s action eight times.

The bank has been fined 66 thousand 53 rupees for the fourth time, 337 rupees for the fifth time, 42 thousand 126 rupees for the sixth time, 53 thousand 28 rupees for the seventh time and 2 thousand 478 rupees for the eighth time.

The Financial Institution Supervision Department under the bank has imposed a cash fine on Narayani Development Bank based on off-site supervision.

Narayani Development Bank has been penalized for the fourth, fifth, sixth, seventh and eighth times for not maintaining the mandatory cash balance ratio.