Three commercial banks face the music

KATHMANDU, JANUARY 30: Nepal Rastra Bank yesterday took action against three commercial banks for breaching the United Directives 2080 B.S (issued by the central bank).

They are Global IME Limited, Prabhu Bank Limited and Himalayan Bank Limited. The first one was found to have collected interest from its customers by increasing the premium rate contrary to the provision of Section 100 of the Unified Directives.

Similarly, the second one failed to categorise credit and comply with the loan loss system which should be maintained according to Instruction Number 2 in the Unified Directives.

Likewise, the third one is found to have calculated the capital adequacy rate above the actual value.