The Ministry of Finance on Monday, April 7, appointed Senior Deputy Governor Neelam Dhungana Timsina as the Acting Governor of Nepal Rastra Bank (NRB).
According to a notice issued by the ministry, Deputy Prime Minister and Finance Minister Bishnu Paudel made the appointment under Section 27 of the Nepal Rastra Bank Act, 2002.
The decision comes in the wake of the completion of Governor Maha Prasad Adhikari’s term. Adhikari, who assumed office on April 6, 2020, retired Sunday following a five-year term.
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Although the law allows the government to appoint a new governor up to a month before the post becomes vacant, the selection process has been delayed amid ongoing political negotiations and the absence of consensus among ruling parties.
To move the process forward, the government has formed a three-member recommendation committee chaired by the Finance Minister. The committee is tasked with shortlisting three candidates for the post of Governor.
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Several names have surfaced as potential contenders. The recent resignation of Nabil Bank CEO Gyanendra Dhungana—who had already been under consideration—has intensified speculation about his candidacy.
From the Nepali Congress side, Dhungana and NRB Executive Director Dr. Gunakar Bhatta is reportedly in the running.
Read: Maha Prasad Adhikari: A Governor’s Term amid Crisis and Controversy
On behalf of the CPN-UML, Deputy Governors Neelam Dhungana Timsina and Bam Bahadur Mishra, along with NRB Director and National Planning Commission member Dr. Prakash Kumar Shrestha, are reportedly being considered.
The CPN-UML has argued that, as it leads the government and holds the Finance Ministry, the Governor’s post should fall under its purview. However, the Nepali Congress maintains that, as a key coalition partner, it too deserves a say in the appointment.
