Nepal Rastra Bank (NRB) has taken action against three commercial banks during the second quarter of the fiscal year 2082/83. NIC Asia Bank, Global IME Bank, and Nepal Investment Mega Bank faced penalties or official warnings for violating central bank directives and failing to maintain operational compliance.
NIC Asia Bank was fined 2 Lakh for failing to publish financial statements as per rules, specifically penalizing its former Chairman and CEO. Global IME Bank was warned for inadequate loan loss provisioning and software vulnerabilities. Nepal Investment Mega Bank received a caution for issues including interest rate spread violations, incomplete loan documentation, and breaching working capital loan guidelines.
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