Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has taken regulatory action against the Agricultural Development Bank Limited (ADB) for not implementing the request of the investigation and law enforcement bodies on time.
According to the Bank Supervision Department of the Rastra Bank, during the special on-site inspection, it was found that the Agriculture Development Bank had not corrected various deficiencies and did not freeze the bank account on time as per the request of the investigating body.
The NRB has warned the bank concluding that the act was against the Bank Account Freeze and Release Bylaws, 2081 BS.
Nepal Rastra Bank (NRB) has directed the Agricultural Development Bank (ADB) to fully comply with the bylaws and regulatory directives to prevent such shortcomings in the future.
