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    Nepal Breaking NewsEconomy | FinanceCommercial banks and finance companies in Nepal have been fined by the...

    Commercial banks and finance companies in Nepal have been fined by the Nepal Rastra Bank for failing to meet regulatory requirements.

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    There have been fines assessed against three commercial banks for failing to maintain the compulsory cash reserve and/or statutory liquidity requirements.

    Bangladesh Bank Limited (NBB), Prabhu Bank Limited (PRVU), and Himalayan Bank Limited (HBL) are the banks that have been punished by the national bank (HBL). HBL been penalized twice in the past. Commercial banks have been fined a range of amounts ranging from Rs. 12,899.01 (Himalayan Bank) to Rs. 35,695.12 (State Bank of India) (Prabhu Bank).

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    Similarly, the Rastra Bank penalized a total of five financing companies for their actions. The corporations were punished for failing to keep the mandatory reserve, impoverished-class loans, and the CCD ratio, among other things.

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    The following are the financial institutions that have been fined:

    1) Samriddhi Finance Company Limited is a private limited company.
    2) Goodwill Finance Company Limited is a company that financing to charitable organizations.
    3) Lalitpur Finance Limited is a private limited company.
    4) City Express Finance Limited is a company.
    5) Janaki Finance Limited is a private limited company.


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