The National Bank has stated that Kumari Bank conducted transactions in the accounts of blacklisted individuals and Prime Commercial Bank did not classify loans as per the rules.
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Two commercial banks that were operating against the rules in the first quarter of the current fiscal year have been taken into action by the National Bank of Nepal. During that period, the National Bank has issued warnings to Kumari Bank and Prime Commercial Bank as a precautionary measure.
It is mentioned that Kumari Bank has conducted transactions in the accounts of blacklisted individuals. There is a provision that blacklisted individuals, firms, companies or organizations are not allowed to conduct any banking transactions other than depositing money in their accounts until they are removed from such a list. The Rastra Bank has warned Kumari Bank for not following this provision.
The Rastra Bank has warned Prime Commercial Bank as a form of action for not classifying loans as per the rules. The Rastra Bank has stated that it has warned this bank for not classifying some loans based on the period over which the loan has exceeded its maturity.
