The Nepal government has formed a recommendation committee for the appointment of the Governor of Nepal Rastra Bank (NRB). The cabinet meeting held on Wednesday decided to form a three-member recommendation committee chaired by Finance Minister Bishnu Prasad Paudel.
Minister for Communications and Information Technology, Prithvi Subba Gurung, informed that the other two members will be appointed today.
"A decision was made to form a three-member recommendation committee chaired by the Finance Minister on Wednesday. The remaining two members will be appointed today," he said.
The incumbent governor, Maha Prasad Adhikari, will complete his five-year term on April 6. He was appointed on April 6, 2020. With about a month left in his term, the government has formed a recommendation committee to select a new governor one month before expiry of the incumbent governor.
According to the Nepal Rastra Bank Act, 2058, the Council of Ministers must form a recommendation committee led by the Finance Minister before the appointment of the governor. This committee includes a former Governor and an expert in the field of economics, monetary affairs, finance, or management.
The committee must recommend three names for the governor's appointment from among distinguished individuals in economics, monetary affairs, banking, finance, commerce, management, and commercial law, as well as deputy governors.
From the three recommended names, the Council of Ministers will appoint one person as the next governor.
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