Four people including Basnet, CEO of Kamana Sewa Bikas Bank arrested

KATHMANDU: Four people have been arrested, including the Chief Executive Officer (CEO) of Kamana Sewa Bikas Bank, Praveen Basnet.

Harendra Dahal, Chandra Bahadur Thapa, and Birendra Singh Bhandari were arrested alongside Basnet on charges of disbursing more loans with less collateral.

Some more people are absconding in that incident. The police have extended the deadline set by the district court in Jhapa and stated that they are looking into the banking crime.

After it was not revealed whether there was a small amount of collateral while disbursing the loan, the bank conducted an internal investigation. After noticing the problem, he contacted the National Bank for further investigation.

After that, the bank wrote a letter to Nepal Rastra Bank to investigate the matter. The bureau initially investigated and sent it to the local police office for further investigation as it was an incident of the fire department.