NRB extends its deadline
June 12, 2023, 1:08 p.m.
Kathmandu, April 2 – Nepal Rastra Bank extended the deadline for its takeover of Nepal Bank Limited (NBL) management by another nine months. The earlier extended deadline expired in Mid-April.
The country’s oldest bank has been under central bank’s control and recapitalisation plan. A central bank Director Maheshwor Lal Shrestha is currently leading the NBL management team.
The central bank board decided on Monday to extend the takeover deadline as the current management needs time to implement recapitalisation plan to revive the sick bank, according to a board member.
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