NRB Takes Over H&B Bank Mgmt

NRB Takes Over H&B Bank Mgmt

June 9, 2014, 5:45 p.m. Published in Magazine Issue: Vol: 08 No. -1 June. 6- 2014 (Jestha 23, 2071)

Nepal Rastra Bank (NRB) has taken over the management of H and B Development Bank. Issuing a press statement, it announced that it has taken over the Bank’s management suspending its Executive Committee and the Chief Executive Officer.

The bank had been in controversy over fraud on good-for-payment check worth Rs 870 million. The NRB took the move following detailed investigations and field visits.

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