A new team has taken charge of the management of Nepal Bangladesh (NB) Bank. A three member team headed by Bashu Dev Ram Joshi, former chairman of Rastriya Banijya Bank, took charge from Friday.
According to an official at the Nepal Rastra Bank (NRB), the team that was selected for the management contract through bidding process is allowed to run the commercial bank for the next eight months.
After panicked depositors rushed to withdraw deposits from the commercial bank, the NRB had taken over its management last November, deputing a three-member committee to run it.
The official said that the new management would get around Rs. 700,000 per month including salaries and other facilities. A report quoted a source as saying that the maximum time frame for which the management is permitted to operate the bank is until mid-November.
The NRB had called for bids to operate the NB Bank. Four groups had vied for the bank's management. One was ineligible as it failed to submit one of the mandatory forms, while another proposed two names for the post of chief executive officers. The third one was ousted in the technical bidding.
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