Kathmandu. Nepal Rastra Bank (NRB) has taken action against Himalayan Bank (HBL).
The central bank is in the current fiscal year 2082. In the third quarter of 83 months, the bank took action. According to the NRB, the central bank found that the bank had provided discount to a limited borrower at the fixed premium rate effective from the back date and the discount amount was used to pay the outstanding interest and principal.
According to the central bank, Himalayan Bank has also restructured the ÷loan by receiving 10 percent of the interest amount to be paid after the stipulated time, re-tabulation÷restructured loan and categorizing only the principal amount of the outstanding installment into rescheduled÷restructured loan and has not maintained adequate loan loss provision. “Some loans have not been classified on the basis of the expiry of the loan term, temporary extension of the repayment period of the borrowers for a longer period and force loans with outstanding more than 90 days have not been classified as bad loans,” the NRB said in a statement. The executive officer has been alerted. ’
Similarly, the Board of Directors of Himalayan Bank has been asked to take corrective steps for violating the directives issued by the Rastra Bank.
