`Take control, not liquidate'

The Association of Nepali Development Banks has urged Nepal Rastra Bank(NRB) not to liquidate Nepal Development Bank(NDB) but to run it by taking control of the management. The association led by its chairman Jhapat Bohora met NRB governor Dipendra Bahadur Chhetri on Sunday and asked him to dissolve the current management committee.

"We requested the governor to take over the management of NDB by dissolving its present management committee," Bohora said.
The association's move came at a time when deadline set by the NRB for clarification for NDB is coming to end. According to Bohora, the association took this initiative after it got letter from Amar Gurung, current chairman of NDB on Friday asking association to step in to stop the liquidation of NDB. The NDB is not a member of the association.

Bohora said, "Since the central bank also has share on NDB, liquidation of the bank would affect the whole banking sector."According to Bohora,action should be taken against the individuals responsible for the collapse of the bank, but not against the institutions.

Bohora said, "The bankcan be revived if all the stakeholders come forward to help it." According to him, the association is ready to step in if there is any role for it. Meanwhile, the NRBon Sunday said the NDB has bank deposits and cashworth Rs. 196.20 million. In a press release, it has said that appropriate arrangement has been made for the payment of management cost for daily management.
Source:
The Kathmandu Post