| Refusal to grant Prior Approval | Refusal to issue license |
| 1. Proposed name is undesirable in view of public interest, religion, communities, nationalities | 1. Seems to have adverse effect on the financial system, fair competition and trustworthiness |
| 2. the incorporation of the BFI is technically inappropriate | 2. Cannot be issued for the protection of the interest of investors |
| 3. Objectives are contrary to the prevailing laws | 3. infrastructure is not completed |
| 4. the feasibility report provided doesn't provide reasonable ground that the proposed BFI can carry out banking and financial transaction | 4. other conditions |
| 5. All the promoters have not signed, name of witness not set out. | |
| 6. Per person share investment limit and share ownership proportions as prescribed by NRB is not fulfilled | |
| 7. against policy issued by NRB | |
| 8. Other conditions | |
| Section 4(3) - Prior Approval Denied to those Punished under Banking offence/Cheating, fraud, forgery/financial investment in money laundering and terrorist activities/corruption related offence/Serious nature offences and regulatory actions taken by NRB |
Published By
Aadesh Kandel
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