NIC Asia Bank chairman Tulsiram Agrawal has resigned from his position after facing action from Nepal Rastra Bank. He stepped down after the bank received an official letter from the central bank on Poush 4.
Why did NIC Asia Chairman resign?
Nepal Rastra Bank took action after finding problems in the bank’s institutional governance. The central bank decided to fine the then chief executive officer Roshan Neupane and chairman Agrawal Rs 200,000 each.
After receiving the letter from Nepal Rastra Bank, Agrawal submitted his resignation from the post of chairman. His resignation was approved during the board of directors meeting held on Sunday.
Former CEO Roshan Neupane has already left the bank. NIC Asia Bank has also appointed a new chief executive officer.
The bank, which was once known for its aggressive banking strategy, has recently been making leadership and strategic changes. With the chairman stepping down, the bank is now moving toward another change in its board leadership.
