First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank (NRB) has resumed on-site monitoring of banks and financial institutions, which was halted due to COVID-19.
The central bank has started monitoring different commercial banks initially while plans to start monitoring of development banks, finance companies and micro-finance companies gradually. The Bank Supervision Department of NRB has already send inspection team in four of the commercial banks while plans to send its team to other four commercial banks coming Sunday.
The NRB plans to complete inspection of all commercial and development banks within the current fiscal year.
Owing to spreading COVID-19, NRB had stopped on-site monitoring of banks and financial institutions since the fourth quarter of the last fiscal year.
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