Another finance company goes bust
KATHMANDU, June 28:
World Merchant Bank and Finance Company on Monday tried to escape withdrawal as it has been facing cash shortage since last couple of days. The finance company has on Monday asked for Special Refinancing Facility with the central bank. “If the finance company has been cheating the depositors, the central bank will take action against World Merchant Bank and Finance Company,” said central bank spokesperson Bhaskarmani Gyawali. “No banks and financial institutions can refuse withdrawal in any excuse,” he said. World Merchant Bank and Finance Company has been saying that it has not closed the transactions but has some liquidity problem that it would solve soon.
Source: THT
World Merchant Bank and Finance Company on Monday tried to escape withdrawal as it has been facing cash shortage since last couple of days. The finance company has on Monday asked for Special Refinancing Facility with the central bank. “If the finance company has been cheating the depositors, the central bank will take action against World Merchant Bank and Finance Company,” said central bank spokesperson Bhaskarmani Gyawali. “No banks and financial institutions can refuse withdrawal in any excuse,” he said. World Merchant Bank and Finance Company has been saying that it has not closed the transactions but has some liquidity problem that it would solve soon.
Source: THT
