Kathmandu. Can a commercial bank submit fake details to the Nepal Rastra Bank? The simple answer is that even if others cannot, Prabhu Bank can, Prabhu Bank can do it. It has been proven. The bank has also faced action after the misconduct was proved.
According to the action taken by the NRB, the bank did not rectify the serious deficiencies pointed out in the overall site inspection report on time.
Not only this, Prabhu Bank has repeatedly violated the directives related to the loan, did not classify the loan correctly, did not maintain adequate loan loss provision, did not follow the provisions of the Integrated Directive-2081, and most importantly, the loan details sent to the Rastra Bank and the details of the bank’s own core banking system were found to be different.
The details submitted to the regulator are fake! Can there be a greater mischief than this, a greater mischief than this, a greater arbitrariness than this, a greater crime than this? For this reason, the Nepal Rastra Bank has directed the Board of Directors of Prabhu Bank to immediately formulate a reform plan and implement it.
According to Section 100 (2) (c) of the Nepal Rastra Bank Act, 2001, the then Chief Executive Officer Ashok Sherchan has been fined Rs 500,000 under Section 100 (2) (c) of the Nepal Rastra Bank Act, 2058 BS.
Now the question arises – why do such disputes appear again and again in the same bank?
Court orders ex-CEO, investigation against top officials, Rs 48 crore loan case,
The legal controversy over the appointment of directors, and the serious shortcomings now pointed out by the regulator. Should we look at all these incidents separately or as a single institutional problem?
प्रतिक्रिया दिनुहोस्
