Nepal Rastra Bank Governor Selection Process: Recommendation Committee Update
15th May 2025, Kathmandu
The government of Nepal will appoint a new Governor for Nepal Rastra Bank within the next two to four days. Communication and Information Technology Minister Prithvi Subba Gurung announced this after the Cabinet meeting on Thursday at Singha Durbar. He promised that the long wait for the new Governor would soon end.
NRB Governor Selection Process
Formation of New Recommendation Committee
Minister Gurung explained that the appointment process faced delays. This happened because Dr. Bishwajit Poudel resigned from the recommendation committee. To move forward, the government formed a new committee with three members.
The new committee includes former Governor Mahaprasad Adhikari and Dr. Posharaj Pandey. Finance Minister Vishnu Poudel chairs the committee. Gurung said, “Due to Dr. Poudel’s resignation, we formed a new recommendation committee with Mahaprasad Adhikari and Dr. Posharaj Pandey as members.”
This change aims to speed up the Governor’s appointment. Gurung assured, “There will be no more delays. We will complete the process within days.”
Background of the Recommendation Committee
Earlier, the recommendation committee consisted of Finance Minister Bishnu Poudel as chair, along with former Governor Mahaprasad Adhikari and Dr. Bishwajit Poudel. However, Dr. Poudel stepped down. His resignation paused the appointment process.
Minister Gurung detailed the committee changes. Initially, the Finance Minister led the committee with Dr. Bishwajit Poudel and Adhikari as members. When Dr. Poudel resigned, the government added Mahaprasad Adhikari to the panel. But then, Dr. Poudel had to resign from the committee for another reason.
To solve the issue, the government reformed the committee. Now, the Finance Minister chairs it with members Mahaprasad Adhikari and Dr. Posharaj Pandey.
New Members and Their Profiles
Dr. Posharaj Pandey is a respected expert in international trade. The Cabinet approved his appointment on Wednesday evening. The Finance Minister proposed his name.
Dr. Pandey is linked to the Nepali Congress party. His expertise will help the committee select a suitable Governor.
Mahaprasad Adhikari is a former Governor of Nepal Rastra Bank. His experience adds value to the committee’s decision-making.
The Appointment Process and Challenges
Minister Gurung highlighted that the appointment process faced several hurdles. Some committee members resigned during the process.
Former Governor Dr. Bishwajit Bhattarai resigned earlier. He did not want to be a “rubber stamp” for political decisions. Dr. Bishwajit Poudel also resigned, as he was a candidate for the Governor’s post.
Following these resignations, the government faced difficulties in forming a stable committee. Now, the committee includes strong experts, and the appointment process will speed up.
Other Candidates in the Race
Besides the current committee’s candidate, another economist is in the race. Dr. Angraj Timilsina, from Bajura district, has also shown interest. He is lobbying for the Governor’s position.
Dr. Timilsina is known for his strong economic knowledge. He is gaining support in political circles.
Meanwhile, the Executive Director of Nepal Rastra Bank, Dr. Gunakar Bhatt, was also a candidate. However, he has dropped out of the race.
Importance of the Governor’s Appointment
Minister Gurung stressed the importance of this appointment. Nepal Rastra Bank plays a key role in managing the country’s monetary policy and banking regulations.
He mentioned the challenges Nepal faces due to climate change. As a Himalayan country, Nepal is highly vulnerable to climate risks.
Minister Gurung said ongoing dialogues like the Sagarmatha Dialogue bring global attention to these issues. Strong leadership at Nepal Rastra Bank will help address economic and environmental challenges.
Conclusion: New Leadership Soon
The government expects to finalize the Governor’s appointment within days. Minister Gurung confirmed that the process is moving quickly.
This decision will bring stability to Nepal’s central banking system. It will also boost confidence among investors and financial institutions.
Nepal’s economy depends on stable leadership in key financial institutions. The new Governor’s role will be crucial in steering the economy through upcoming challenges.
For more: NRB Governor Selection Process
