Nepal Rastra Bank Begins Work in Karnali Development Bank by Halting Deposit Withdrawals

Nepal Rastra Bank has taken control of the management of Karnali Development Bank to initiate reformative measures. Three representatives from the central bank have started working in the bank's management.

The bank has temporarily halted deposit withdrawals to focus on resolving liquidity issues. On Tuesday, the bank issued a notice requesting customers not to visit for deposit withdrawals.

The representatives from Nepal Rastra Bank are working on various options for liquidity management. Prioritizing the repayment of public deposits, the bank has stated that it will secure the necessary funds to resume withdrawals soon.

Urging the public to remain patient during this process, the bank assured that it is working diligently to ensure effective liquidity management and resolve the current issues promptly.