FPCRN Concerned

Forum for Protection of Consumer Rights-Nepal (FPCRN) has voiced concern over the Nepal Development Bank Ltd (NDBL) liquidation on Thursday. "It is a result of failure of the monitoring mechanism of the regulating agency," FPCRN said in a press note. As per financial institutions regulations, Nepal Rastra Bank (NRB) -- apart from Securities Board of Nepal and the Ministry of Finance -- is the regulating agency for listed financial institutions. PCRN has urged NRB to revive the bank for the protection of people's deposits and investment.