Stock related news & regulations of Nepal Rastra Bank

Kathmandu, July 24 - Nepal Rastra Bank has barred the local and provincial representatives from joining the board of banks and financial institutions during their tenure.

Issuing a circular today, the central bank stated that presence of elected representatives on the board of the BFIs could weaken the governance of the BFIs, as elected representatives are very likely to indulge in power play. The NRB provision bars even ward members from joining the BFIs’ board.

Earlier, the Banks and Financial Institutions Act had barred lawmakers from representing the board of BFIs. The central bank had lobbied to bring the provision to bar lawmakers from joining BFIs board.

The BAFI Bill submitted to the Parliament after necessary revision in the draft bill was returned to the House panel again after the lawmakers were criticised for removing the provision barring lawmakers from joining the board of BFIs. Subsequently, the finance committee had again submitted the bill incorporating the earlier provision that barred lawmakers from joining the BFIs’ board.

Following the enactment of BAFIA, some parliamentarians, who were on board of BFIs, had resigned from the concerned BFIs.

source: The Himalayan Times

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GIMES1 12.5000 9.0 228,200.0
NICA 3.9312 423.0 46,663,655.0
DBBL 3.6765 141.0 14,410,498.0
CFCL 3.3613 123.0 308,006.0
CHL 3.3333 124.0 49,040.0
Symbol % Change Last Price Turnover
CMB -100.0000 0.0 4,112,702.0
UFL -5.9524 158.0 136,654.0
SPDL -5.8824 112.0 89,680.0
HPPL -4.8148 257.0 563,020.0
AHPC -4.3165 133.0 1,286,802.0
Symbol % Change Last Price Turnover
SHPC -1.8750 314.0 74,658,698.0
NICA 3.9312 423.0 46,663,655.0
NMB 0.8380 361.0 38,312,303.0
PRVU 0.0000 217.0 18,679,677.0
NBL 1.3029 311.0 16,511,957.0