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September 23: Nepal Rastra Bank’s Governor Dr Chiranjibi Nepal has said that the central bank has decided to monitor whether the loan issued by the banks have been utilized on the intended purpose or not.
Addressing the 5th NewBiz Business Conclave and Awards 2018 on Friday, September 21, the NRB governor said that the central bank took such decision to stop the misuse of loan and to keep the investable capital circulated.
According to the decision, the debtors must invest the disbursed loan for the purpose mentioned in the loan agreement.
Governor Nepal warned the banks not to misappropriate public fund.
He said that the country is an associate member of international clubs including International Monetary Fund and World Bank and such organizations won’t tolerate such embezzlements. He requested the banks and financial institutions to apply Basel III banking standard as the international community has already implemented Basel IV.
He mentioned that the central bank is making efforts to identify and minimize the risks posed by the use of new technology. He also shared that there is no alternative to adopting new technologies in the banking sector.
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<p>Governor Nepal warned the banks not to misappropriate public fund. </p>
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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<p>According to the decision, the debtors must invest the disbursed loan for the purpose mentioned in the loan agreement.</p>
<p>Governor Nepal warned the banks not to misappropriate public fund. </p>
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<p>According to the decision, the debtors must invest the disbursed loan for the purpose mentioned in the loan agreement.</p>
<p>Governor Nepal warned the banks not to misappropriate public fund. </p>
<p>He said that the country is an associate member of international clubs including International Monetary Fund and World Bank and such organizations won’t tolerate such embezzlements. He requested the banks and financial institutions to apply Basel III banking standard as the international community has already implemented Basel IV.</p>
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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