Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has revealed that the directors and shareholders of some wallet companies have used the company’s money for personal purposes.
According to the report made public by the Rastra Bank, during the inspection, it was found that the directors and shareholders had taken loans and advances from the company and the settlement account which was supposed to keep the customer’s money safe was also used for other purposes.
The NRB has revealed that in some companies, the compliance officer has been given super admin authority and through this, money has been transferred from the settlement account to the wallet. “This has raised serious questions about institutional governance,” the report said.
Meanwhile, the Nepal Rastra Bank (NRB) has taken action against more than a dozen wallet and payment service companies for violating the rules. Nepal Rastra Bank (NRB) has revoked the license of Paywell Nepal Pvt. Ltd. and Sajig Pay Payment Services on Asar 5, 2082.
Similarly, Prabhu Technology, Khalti Pvt. Ltd., I-Cash, and Fintech Pvt. Ltd. have been warned on different dates.TAG_OPEN_a_14 During the inspection conducted by the Rastra Bank, it is understood that the most common deficiency was seen in e-Sewa.
