NRB Declares Karnali Development Bank as Problematic

The Nepal Rastra Bank has declared Karnali Development Bank as a problematic bank. The decision was made during the meeting of the board of directors held on Wednesday.
Additionally, a three-member management committee has been formed under the chairmanship of Tika Ram Khatiwada, Deputy Director of the Department of Bank and Financial Institution Regulation. The committee also includes Vishnu Kumar Bishwakarma, Deputy Director of the Department of Financial Institutions Supervision, and Jugal Kishore Kushwaha, Deputy Director of the Legal Division.

The committee will assume responsibility for the bank starting Thursday.