Kathmandu: Four persons, including the Chief Executive Officer (CEO) of Kamana Sewa Bikas Bank, Prabin Basnet, have been arrested on the charge of providing more loans by keeping less collateral.

Harendra Dahal, Chandra Bahadur Thapa and Birendra Singh Bhandari are among those arrested. Seven more people are absconding in the incident.

The arrested persons are being investigated in the case related to banking offenses by extending the deadline. According to the source, various fake companies were set up and loans more than  were given in their name. The loan embezzlement amounts to  32 crores rupees