UDB Faces Liquidation

<br>

Dec. 28, 2011, 5:45 p.m. Published in Magazine Issue: Vol. : 05 No. -12 Dec. 23-2011 (Poush 08,2068)<BR>

Nepal Rastra Bank (NRB) is preparing to liquidate United Development Bank (UDB) which failed to improve its financial position even after six months since it was declared crisis-ridden for the second time.


If NRB sticks to its decision, UDB will be the third financial institution in the country that will face liquidation after Nepal Development Bank and Samjhana Finance.
NRB records show that UDB got into trouble after its executive chairman, Rabindra Bahadur Singh, took NRs 65 million of the total paid-up capital for his personal use. NRB’s high officials have stated that there is no possibility of improvement in the bank’s current situation.

More on Economy

The Latest

Latest Magazine

VOL 12 No.20, Jun 07 –27 June, 2019 (Jestha 24, 207/074-756) Online Register Number: DOI 584

VOL 12 No.19, May 17 –06 June, 2019 (Jestha 03, 2076) Online Register Number: DOI 584/074-75

VOL 12 No.18, May 3 -16,2019 (Baisakh.20, 2076) Online Register Number: DOI 584/074-75

VOL 12 No.17, April 19-May 2 2019 (Baisakh.06, 2076) Online Register Number: DOI 584/074-75