Kathmandu. Pokhara—Nepal Rastra Bank (NRB) has withdrawn the immediate corrective action against Pokhara Finance. Issuing a notice, the Financial Institutions Supervision Department of Nepal Rastra Bank (NRB) has lifted the action against the finance.

The Nepal Rastra Bank (NRB) on February 7, 2081 had taken action against the finance company for failing to maintain the minimum capital fund ratio.

According to the Nepal Rastra Bank, the company’s capital fund was found to be very low when inspecting the financial statement of mid-January 2080 and the first quarter statement of the fiscal year 2081/82. For this reason, the Rastra Bank had taken corrective action against Pokhara Finance.

Pokhara Finance and Samriddhi Finance are in the process of merging. Nepal Rastra Bank (NRB) has already given approval to the merger of these two companies on April 30. After the merger, the combined capital of the company will reach 6.06 percent and the total capital ratio will be 10.80 percent. According to the NRB, the action taken against Pokhara Finance has been lifted with effect from the date of commencement of joint transaction of both the companies as per the decision of June 26.

Notice: