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Started 2 weeks ago · Updated 1 week ago

Nepal Rastra Bank Takes Action Against Himalayan Bank for Systemic Violations

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Nepal Rastra Bank has initiated formal regulatory action against Himalayan Bank Limited, issuing warnings to its CEO and Board of Directors due to systemic violations identified during a supervisory inspection. The central bank cited improper discounting, misuse of interest rate concessions, and unauthorized loan restructuring as reasons for the enforcement measures, requiring the bank to submit a corrective action plan.

  • The Nepal Rastra Bank's Bank Supervision Department conducted the inspection in the third quarter of the fiscal year 2082/83.
  • Violations included improper discounting practices favoring specific borrowers and unauthorized loan restructuring.
  • The central bank mandated the submission of a commitment letter detailing corrective measures.
  • These actions underscore the central bank's intensified efforts to enforce financial discipline and regulatory compliance.

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