Dhaulagiri Laghubitta Financial Institution’s board of directors faced action from Nepal Rastra Bank for making improper payments to an employee for a period they were not actively working.
The board of directors of Dhaulagiri Laghubitta Bittiya Sanstha Limited has come under scrutiny from Nepal Rastra Bank (NRB). The central bank issued a warning to the directors after discovering that the institution approved decisions against regulations, including paying an employee for a duration when they were not actively engaged in service.
According to the Microfinance Institutions Supervision Department of Nepal Rastra Bank, the company’s board of director was found to have reinstated a Deputy Executive Officer, which goes against the Employee Service Regulations, 2080.
Moreover, NRB stated that the institution also made payments for a period when the employee was not working, without any clear basis or valid reason.
As a result, Nepal Rastra Bank has cautioned Chairperson Sirjana Thapa and directors Suman Prasad Shrestha, Jiwan Acharya, Shalikram Sharma, Chet Prasad Sapkota, Ganesh Paudel, and Resham Lal Sapkota. They were warned against repeating such actions in the future, as per Sub-section 2(a) of Section 100 of the Nepal Rastra Bank Act, 2058.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
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