KATHMANDU, Jan. 31 -- Finance Minister Bishnu Prasad Poudel on Monday directed Rastriya Beema Sansthan (RBS) and Rastriya Beema Company (RBC) to complete their pending financial audit of the past eight years in the next three months.

Breaching the government law that requires the insurers to submit their transaction report to the regulator within the stipulated time of every fiscal year, the state-owned insurance companies have not done their financial audit since the fiscal year 2017/18.

The insurers have to submit to the Nepal Insurance Authority (NIA) the internal audit report within 60 days from the end of each quarter in every fiscal year, reads the Internal Audit Directive for Insurers 2016. However, these insurance companies have...