Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank (NRB) is without deputy governors since last one week as the post become vacant after deputy governors Chintamani Shivakoti and Shivaraj Shrestha retired on March 3 after completing their five-year tenure.
Deputy governors are not only among the top management of NRB but also ex-officio members of the Board of Directors. As the result, absence of a deputy governor affects the work of the NRB.
The NRB Act stipulates that the Cabinet will appoint the deputy governor on the recommendation of the governor of the central bank and on the proposal of the Finance Minister.
As per sources, NRB governor Maha Prasad Adhikari has already recommended four names for deputy governor to the Ministry of Finance. However, Finance Minister Bishnu Poudel is yet to table the proposal to appoint deputy governors at the Cabinet meeting.
As per the NRB Act, governor should recommend four names from among executive directors of NRB for two posts of deputy governor.
Sources claim that even the names recommended in the last time may change due to the intense lobbying of the power center for the deputy governor. Those names recommended by the governor for deputy governor post has not been disclosed.
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