Nepal Rastra Bank has taken regulatory action against three Class A commercial banks—Rastriya Banijya Bank, Agricultural Development Bank, and Prabhu Bank—for violating provisions during the fourth quarter of the fiscal year. The two state-owned banks received warnings for delays in freezing accounts as required by NRB directives. Prabhu Bank’s board has been directed to submit a commitment for corrective measures, while former chief executive officer Ashok Sherchan has been fined Rs 500,000 for repeated violations related to credit directives, loan classification, and financial reporting.
