Nepal Rastra Bank in Talks to Upgrade Troubled Karnali Development Bank to National Level

Nepal Rastra Bank (NRB) has initiated discussions to upgrade the troubled Karnali Development Bank into a national-level bank by increasing its capital. The bank was declared problematic on January 10, 2025, after it collapsed under liabilities amounting to Rs 4.3 billion. A three-member NRB team based in Nepalgunj has been managing the bank since then,…