Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has taken action against 3 development banks for failing to maintain mandatory cash reserves. The central bank has imposed a cash penalty on these banks.
Those facing action are Sindhu Bikas Bank, Saptakoshi Development Bank and Miteri Development Bank. According to the Nepal Rastra Bank, these banks have not maintained the mandatory cash reserves for the period from Poush 23, 2082 to February 23, 2082.
The court also imposed a cash fine of Rs 2.84, Saptakoshi Rs 10,253.85 and Miteri Rs 18,505.71. This action was taken by the NRB’s Supervisory Department in the third quarter of the last fiscal year.
