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Race for NRB Governor: Deputy-governor, ex-directors vying for post along with Investment Board CEO

File image: Nepal Rastra Bank

Kathmandu, October 23

As Nepal Rastra Bank Governor Chiranjibi Nepal’s term in office is coming to an end in March, 2020, various people have already staked their claim for the top job.

The governor is appointed by the Council of Ministers upon the recommendation of the finance minister. Sources close to the finance ministry say that a few of the candidates have even started lobbying.

The post of governor of NRB is regarded higher than that of a government secretary, which is why it receives a lot of attention whenever the post is vacant. The governor is the head of the central bank’s board of directors whose members are secretaries of the finance ministry.

Who’s in the running?

(L to R) Maha Prasad Adhikari – Chinta Mani Siwakoti – Bhaskar Mani Gyawali

The first name that has popped up is that of Chinta Mani Siwakoti, who is the current deputy-governor of NRB. Siwakoti started his career as an assistant at NRB in 1987. He was appointed deputy-governor in 2015. Siwakoti completed his MBA in Financial Management from Southern New Hampshire University, USA.

Another name is that of the CEO of Investment Board of Nepal Maha Prasad Adhikari, who has served as the deputy-governor. Adhikari worked for the central bank for 30-years. He was also in the running for the position when Chiranjibi Nepal was appointed the governor.

Former Executive Director of NRB Bhaskar Mani Gyawali has also expressed interest in the job. However, he says unlike other candidates, he hasn’t been involved in political lobbying. He said that he wasn’t desperate to work for an institution that could not act independently. Gyawali, however, said that if the government felt that he could do a good job, he’d take up the position.

Apart from these three, there are a few other names that have come up. Board member of NRB Subodh Kumar Karna and Chairman of Nepal Bank Basudev Adhikari are also in the race.

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