NRB, DRI data differ in IC scam

KATHMANDU, NOV 21: 

The investigation of Nepal Rastra Bank (NRB) has showed Rs 40 million less Indian currency (IC) misuse than the Department of Revenue Investigation (DRI).

“The investigation of Department of Revenue Investigation has revealed Indian Rs 820 million misappropriation by using fake customs declaration forms,” the department source said, adding that the committee under central bank led by Chet Prasad Upreti has showed Indian Rs 780 million misappropriation. 

The department will hold discussion with central bank on Monday to conclude the investigation process.”The department will sort out why the figures differ between investigations of two entities,” the source said. The department will also propose central bank to take action against banks involved in issuing Indian currency without filling Foreign currency exchange forms, he said.

The department has listed the name of eight banks including Nepal Investment Bank, NIC Bank, NB Bank, Siddhartha Bank, Citizen Bank, Nepal Bank, Laxmi Bank, Everest Bank and SBI Bank in releasing Indian 

Currency without following existing legal procedure. The department has estimated collection of Rs 2.56 billion tax and fine from companies involved in the scam.

Source: THT