: (1) Nepal Rastra Bank may suspend the committee of the cooperative bank by informing the department in any of the following cases and have the management of such bank be done by itself or by any other body :-
(a) If the instructions given by Nepal Rastra Bank from time to time are not followed based on the audit report of the cooperative bank or the inspection report of that bank,
(b) If any action is taken against the interest of the member causing harm to the member,
(c) If the operation of the cooperative bank is not done efficiently and effectively, causing loss to the said bank.
(2) Before suspending the committee of the cooperative bank in accordance with sub-section (1), the cooperative bank shall be given a chance of at least seven days to submit an explanation.
(3) If the cleaning is not submitted when given an opportunity for cleaning according to sub-section (2) or if the cleaning submitted is not found to be satisfactory, the Nepal Rastra Bank may suspend the committee of the concerned bank and manage the said bank by itself or through any other agency.
(4) Notwithstanding anything else written in this section, the Nepal Rastra Bank shall also involve the representative of the department when managing the cooperative bank itself or having it managed.