Bankers protest arrest of NIMB CEO Pandey, Call for ‘hear before detention’ principle
▸ Part of: Nepal Rastra Bank to Withdraw Rs 45 Billion from Banking System Amidst Excess Liquidity
Four major banking associations have expressed concern over the arrest of Jyoti Prakash Pandey, CEO of Nepal Investment Mega Bank, warning of negative impacts on the financial system's confidence. Pandey was detained in connection with an investigation into banking operations and loan recovery procedures. The associations emphasized that loan recovery is a standard banking function and called for adherence to the 'Hear Before Detention' principle, urging authorities to balance investigations with institutional stability.
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