Kumari Bank chairman accused of disobeying NRB directives

Feb 19,2007 00:00 by Biz correspondent

One of the members of Kumari Bank has accused chairman of Board of Director Noor Pratap Rana of disobeying the directives of Nepal Rastra Bank (NRB).

Kumar Regmi, a member of Board of Director representing public share holders said Rana was acting against welfare of depositors and health of the bank.

Regmi said that the operators spent Rs. 10.5 million without receipt and have not paid the expenditures. At the press meet organized in the capital on Monday, he informed that the bank decided to buy land at a time when it already took building in lease for corporate office. According to him, the bank took the decision of buying the land withdrawing previous decision.

The founders and public shareholders have registered proposal of 'no trust' against Regmi himself. However, he claimed that the proposal was put forward by some shareholders close to chairman Rana.