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Rajendra Bir Rai, CEO of Karnali Bank, arrested for embezzling Rs 250 crore

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Kathmandu. Karnali Bikas Bank’s founder chairman and chief executive director Rajendra Bir Raya has been arrested. The Central Investigation Bureau (CIB) arrested him while he was hiding in Rupandehi district.

He was absconding after embezzling more than Rs 250 crore.  Karnali Development Bank has been placed in the list of troubled financial institutions and now the team of Rastra Bank has taken over.  The CIB has established siddharthanagar municipality ward no. 1of Rupandehi Jalla. 1 Belhia has been arrested.

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