सिंहदरबार संवाददाता
Kathmandu. The National Bank has taken action against the CEOs of 7 development banks and 8 finance companies for misusing concessional loans.
Based on the report submitted by the consultant after studying refinancing, business continuity loans, and concessional loans, the National Bank has warned the CEOs of 7 development banks and 8 finance companies.
Among development banks, the National Bank has warned the CEOs of Lumbini Development Bank, Mahalaxmi Development Bank, Kamanaseva Development Bank, Muktinath Development Bank, Salpa Development Bank, Garima Development Bank, and Saptakoshi Development Bank. Among finance companies, Samriddhi Finance, Pokhara Finance, Progressive Finance, ICFC Finance, and Janaki Development Bank have been warned. The Rastra Bank has alerted the Chief Executive Officers of Finance, Central Finance, Reliance Finance and Goodwill Finance.
‘In the report submitted by the consultant appointed to study the utilization of refinancing, business continuity loans and concessional loans, the concerned institution has submitted to this bank a report prepared by the internal audit of the institution and submitted to this bank regarding the loans that have been misused or suspected of misuse, and some concessional loans issued by the institution have not been utilized properly, thus violating the guidelines on concessional loans and the relevant instructions issued by this bank, and therefore, the Rastra Bank has issued an alert in accordance with the Nepal Rastra Bank Act,’ the Rastra Bank has stated.
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