NRB INTERVENES TO PREVENT FRADULENT BANKING PRACTICES

CA CHAIRMAN SUBASH NEMWANG CONTONUEUS WITH PARTY LEADERS FORLSECOND DAY TO END POLITICAL DEADLOCK

Kathmandu, 9 Oct.: Constituent Assembly (CA) Chairman Subash Nembang met CPN-UML Chairman
Jhalanath Khanal at the latter’s residence and urged him to move ahead works of peace process and constitution writing, RSS reports.
He urged Khanal Sunday under a mission to draw consensus among parties for completing the peace process and constitution writing in time.
On the occasion, CA Chairman Nembang had expressed worries that the parties had not fulfilled their commitment towards the twin tasks.
Chairman Khanal told Nembang that he was committed towards peace and constitution.
Chairman Nembang had yesterday met with Prime Minister Dr. Baburam Bhattarai and UCPN-Maoist Chairman Pushpa Kamal Dahal and told them to be serious for completing peace process and constitution in time.
Nembang said he started meeting them to draw consensus among parties before the parliament begins on October 13. He will also meet NC President Sushil Koirala today [Sunday].
(Note: Nemwang held discussions Sunday with Premier Baburam Bhattarai,Maoist Chairman Prachanda, former Prime Minister Madhav Kumar Nepal and NC Vice-chairman Ram Chandra Paudel and also urged them to work for a breakthrough to break a prolonged deadlock. He started consultations as Dasain celebrations end.)
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NRB ATTEMPTS TO PREVENT FRADULENT PRACTICE OF BANKS,FINANCIAL INSTITUTIONS BY BANNING ISSUE OF PERSONAL BANK ACCOUNTS
Kathmandu, 9 Oct.: The Nepal Rastra Bank (NRB) has directed banks and financial institutions not to provide bank balance certificates to anyone after a trend to violate financial discipline by issuing bank balance certificates from banks and financial institutions has increased, RSS reports.
NRB Spokesman Bhaskar Mani Gyawali said this was banned as illegal as the business of providing bank balance certificates as required by advertising, flourished.
He said as the banks and financial institutions did not fulfill their responsibility and increased financial aberrations by certifying bank balance
in one’s personal account, who even has not opened account at all, by charging a huge sum.
Those seeking to go abroad for studies and trade have been presenting fake bank balances to get visa of the concerned countries.
Some business organizations also present this for getting tenders and even Class ‘A’ banks have been providing this.
There are 31 commercial banks, 86 development banks, 89 financial institutions and 31 micro finance development banks in operation in the country.
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