Share trading of Prabhu, Janata and Machhapuchchhre Banks at halt; lakhs of shareholders are suffering due to delay of clearance from Nepal Rastra Bank(NRB)

Trading of 3 commercial banks is still at halt in Nepal Stock Exchange Limited (NEPSE). The trading of Prabhu Bank Limited (PRVU) has been halted in Nepse since September 30, 2015. It's been eight months and the trading of shares of Prabhu Bank is still in halt though its merger process with Grand bank has been completed and joint operation started on February 12, 2016. An official with Prabhu Bank said, we are still waiting for the clearance from Nepal Rastra Bank (NRB). After we get the approval from NRB, then we will apply for approval from SEBON and Nepse to start the trading. Machhapuchchhre Bank Limited (MBL)  and Janata Bank Nepal Limited (JBNL) went into a merger on September 8, 2015 and the merger was called off on April 11, 2016. The trading of scrips of both the banks is still at halt at Nepal Stock Exchange Limited Bishwa Subedi, Company Secretary of Janata Bank Limited, “We are waiting for clearance from Nepal Rastra Bank (NRB). We will resume the trading the very next day we get the clearance from NRB. Tika Bhattarai, Company Secretary of Machhapuchchhre Bank Limited, “ We are waiting for clearance from NRB. The trading will be resumed as soon as we get the clearance.” Trilochan Pangeni, Spokesperson of Nepal Rastra Bank said, “ the process of providing clearance is being carried out and it will take some time as there are so many things that needs to considered before providing clearance.”