Kathmandu. These are the last two examples of what happens and should be seen when the central bank has weak regulation. The collapse of Karnali Development Bank and the fake profit of Kumari Bank. Karnali Development Bank, which was told that everything was fine till the previous quarter, was taken over within a short time. Later, it came to light that the officials of the Rastra Bank had taken bribes of cash and iPhones. Now the savers of Karnali are also in agitation.
Similarly, the profit of Kumari Bank is the subject of deceiving the shareholders and other stakeholders when the Rastra Bank is turning a blind eye. The banking world had made public the email sent by Kumari Bank to hide the bad loans and show them as active loans and not to make provisions. After this, this news was also published in other media. However, even after knowing that such mischief has taken place, the Rastra Bank is silent in the name of making the bank look good.
Kumari Bank’s profit has crossed Rs 7 billion after hiding all the bad loans and not looking into it. Kumari’s profit was seen as the Rastra Bank did not want to look into Kumari’s mischief due to the political connections of the chairman of the bank. The fact that this profit is fake is evident from the emails sent by the bank to hide the bad loans.
Earlier, the then NRB Governor Adhikari had supported Kumari to hide such mischief due to his intimate relationship with the then Governor Maha Prasad Adhikari. It has been alleged that Governor Adhikari has supported Kumari CEO Ram Chandra Khanal and Prabhu CEO Ashok Sherchan. Prabhu Bank is now facing problems due to the loan given by the officer and Kumari’s profit is also seen.
Dividends may be braked even if they are allowed to show fake profits
Officials of the Rastra Bank have suggested to the concerned parties that they should not be allowed to pay dividend on the profits of Kumari, even though the bank is not very tough on its misdeeds as it is connected to the powerful lawmakers of the two-thirds government.
However, it is understood that the leadership of Kumari Bank is trying to do what it says by interfering with the Rastra Bank by using the power of the leader.
