NEPSE frees Narayani Development Bank from "Troubled" Status

Tue, Aug 11, 2020 3:16 PM on Latest, NEPSE News,

Narayani Development Bank Limited is now free from Nepal Rastra Bank's tag of Crisis-Ridden Company.

Chitwan-based Narayani Development Bank that was undergoing Prompt Corrective Action (PCA) since June 2012, was declared troubled by Nepal Rastra Bank (NRB) in the year 2014 AD. NRB had decided to declare the development bank problematic as it had been unable to straighten its financials even two years after the central bank imposed PCA.

Issuing a new notice on Shrawan 22, 2077, the bank has acknowledged that NEPSE has declared Narayani Development Bank Limited free from the crisis-ridden status. The bank is now free to resume its banking operations.