NRB Takes Over NCC Bank

NRB Takes Over NCC Bank

Feb. 17, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 07 No. -16 Feb. 14- 2014 (Falgun 02, 2070)

Nepal Rastra Bank (NRB) has taken over the board of directors (BoD) of Nepal Credit and Commerce (NCC) Bank. The board meeting of NRB decided to suspend the board of directors (BoD) of NCC, sensing that serious disputes and problems within the bank´s BoD could have negative impact on the confidence of public depositors and investors.

The central bank also decided to send a three-member team led by NRB Director Laxmi Prapanna Niroula at the bank. The other members of the team are NRB Deputy Director Ramesh Acharya and Assistant Director Resham Raj Regmi.

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