Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has taken action against 5 microfinance institutions for not maintaining minimum capital fund ratio.
The central bank has taken action against Aarambh Chautari Laghubitta, Ganapati Laghubitta, Community Laghubitta, Nerude Mirmire Laghubitta and CYC Laghubitta. According to the NRB, these microfinance companies have been taken prompt corrective action as per Regulation 3 (a) of the Banks and Financial Institutions Regulations, 2074.
The minimum capital fund of the microfinance companies is less than 8 percent set by the Nepal Rastra Bank. For this reason, these microfinance companies have been taken into action.
Aarambh Chautari Laghubitta has 7.77 percent, Ganapati Laghubitta 6.06 percent, Community Laghubitta 6.12 percent, Nerude Mirmire Laghubitta 6.01 percent and CYC Laghubitta 6.20 percent.
