Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has taken action against Rastriya Banijya Bank Limited for violating regulatory directives in the fourth quarter of the fiscal year 2082/83.
According to the details made public by the Department of Bank Supervision, Rastriya Banijya Bank has not fully complied with the provisions of the Bank Account Freeze and Release Bylaws, 2081 BS.
According to the NRB, the bank was alerted as per Section 100 (1) (a) of the Bank and Financial Institutions Act, 2058 BS after it was found weak in implementing the directives related to freezing and releasing accounts and violating the regulatory provisions.
Nepal Rastra Bank (NRB) has directed the banks and financial institutions (BFIs) to fully comply with regulatory directives and make necessary corrections to prevent such weaknesses from recurring.
