CIB raids NCC Bank, arrests officials

Update 15:34 PM The CIB has made public a list of people arrested in the case: Name Designation 1. Bishnu Prasad Dhital Chairman of Apex Development Bank 2. Ichha Bahadur Gurung Board member of Apex Development Bank 3. Subarna Rajbhandari    “ 4 Madhuban Lal Shrestha  “ 5. Rishi Raj Bhatta CEO of Apex Development […]

NIC Asia controversy: Bank backtracks on interest rate, association lifts sanctions

Kathmandu, March 13 Nepal’s bankers’ association and NIC Asia Bank have reached an agreement to lower interest rates on fixed deposits, three days after NBA members decided not to carry out inter-bank transactions with NIC Asia. The association had said that NIC Asia indulged in an unfair practice by hiking interest rate above what was agreed among […]