Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Two deputy governors of the Nepal Rastra Bank, Neelam Dhungana Timsina and Bam Bahadur Mishra, have stepped down after completing their five-year tenure, officially leaving office from Sunday.
Both officials confirmed that their tenure at the central bank has ended with the completion of their constitutional term.
Dhungana and Mishra had been appointed deputy governors during the tenure of former prime minister K P Sharma Oli on the recommendation of former NRB governor Maha Prasad Adhikari.
With the positions now vacant, attention has shifted to who will become the next deputy governors of Nepal’s central bank, a decision that carries significance for monetary policy, financial regulation, and banking sector supervision.
According to the Nepal Rastra Bank Act, deputy governors must be appointed from among Executive Directors of the central bank. At present, 18 executive directors serve at NRB, including officials such as Naresh Shakya, Revati Prasad Nepal, Ramu Paudel, Bishrut Thapa, Dayaram Sharma, Guru Prasad Paudel, Kiran Pandit, Dr. Satyendra Timilsina, Chet Prasad Upreti, Roshan Kumar Sigdel, Dr. Ram Sharan Kharel, Dr. Dilliram Pokharel, Dirgharaj Rawal, Nishchal Adhikari, Anuj Dahal, Deepak Raj Lamichhane, Rajan Bikram Thapa, and Rajendra Bhattarai.
Under the law, the NRB governor must recommend four candidates from among these executive directors, from which the government appoints two deputy governors through a cabinet decision.
Sources within the central bank say the current political environment in Nepal could influence the appointment process, as uncertainty remains over whether the existing government or an incoming administration will make the decision.
The law allows the governor to exercise sole authority in recommending the four candidates, but in practice the process often involves political consultation with the finance minister and the prime minister.
Past precedents show that the appointment process can sometimes stretch for up to two and a half months, depending on political coordination and cabinet priorities.
Finance Minister Rameshwar Prasad Khanal said the process will begin only after the positions are formally vacant.
“The deputy governor is appointed by the government, but which government will make the decision depends on the situation,” Khanal said. “Once the governor sends the recommendation, the cabinet will take the final decision.”
The appointment of the new deputy governors is being closely watched by Nepal’s banking sector, financial markets, and policy community, as the positions play a critical role in shaping monetary policy, financial stability, banking supervision, and regulatory oversight in Nepal’s financial system.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
