The former Chief Executive Officers (CEOs) of Century Commercial Bank, Tulsi Ram Gautam and Manoj Neupane have been arrested on charges of embezzlement. Neupane, previously held the position of CEO before Gautam’s tenure. The arrests were carried out by a Central Bureau of Investigation (CIB) team, responding to a request from the Nepal Rastra Bank, […]
Former CEOs of Century bank arrested by CIB Read Post »
Nepal and India are increasing efforts to create a specialized electronic payment system connecting the two nations. Nepal Rastra Bank (NRB) announced that an agreement was reached between the National Payments Interface of Nepal and the Unified Payment Interface of India. The initiative is poised to facilitate cross-border transactions by leveraging electronic payment gateways. Once
Nepal & India to facilitate cross-border electronic transactions Read Post »
Nepal Rastra Bank (NRB) has taken action against several development banks and finance companies for breaching regulatory provisions. Among them, Muktinath Bikas Bank’s Chairman and Chief Executive Officer have been alerted by the central bank for misusing funds designated for customer protection. The NRB disclosed that funds allocated for the customer protection fund, generated from
Rastra Bank takes action against multiple banks and finance companies Read Post »
Nepal Rastra Bank (NRB) has announced the revocation of licenses for five money exchange companies due to non-compliance with regulatory obligations. According to the Foreign Exchange Management Department, the decision is a result of these companies’ failure to renew their licenses in accordance with prescribed regulations. The companies affected by the license cancellations include Fair
NRB cancels licenses for five money exchange companies Read Post »
The House of Representatives (HoR) has passed a proposal to amend the Nepal Rastra Bank Act, granting the central bank authority to regulate cooperatives with substantial transactions. The amendment, endorsed by the HoR on Wednesday, enables the Nepal Rastra Bank (NRB) to oversee, inspect, and supervise cooperative organizations with a share capital or annual turnover
Central Bank to be regulate cooperatives with turnover over NPR 500 million Read Post »
Neelam Dhungana Timsina and Bam Bahadur Mishra have been appointed as the deputy governors of the Nepal Rastra Bank (NRB). The cabinet meeting on Tuesday appointed Timsina as the senior governor and Mishra as deputy governor for five years. Timsina and Mishra have been appointed to the vacant posts after the five-year tenure of deputy
Neelam Dhungana Timsina appointed first woman deputy governor in NRB’s history Read Post »
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