Neelam Dhungana Appointed Acting Governor of Nepal Rastra Bank

Dr. Neelam Dhungana Timsina, the Senior Deputy Governor of Nepal Rastra Bank (NRB), was appointed as the Acting Governor following the completion of the five-year term of the previous Governor, Maha Prasad Adhikari. The Ministry of Finance, led by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, assigned Dr. Dhungana to take on this role. This transition comes amid the ongoing process of selecting a new governor for the NRB. The process involves a Governor Appointment and Recommendation Committee, which is tasked with proposing candidates to the Council of Ministers.

Key Points

Appointment of Acting Governor

• Dr. Neelam Dhungana Timsina, Senior Deputy Governor of NRB, was assigned as the Acting Governor.
• This appointment followed the end of Maha Prasad Adhikari’s five-year term as the Governor of NRB on April 6, 2025.

Legal Framework

• According to Section 27 of the Nepal Rastra Bank Act, 2058 BS, the Finance Minister has the authority to appoint an Acting Governor when the position is vacant.

Governor Appointment Process

• The process of appointing a new governor began after the vacancy created by the completion of Adhikari’s term.
• The Nepal Rastra Bank Act requires the appointment of a new governor at least one month before the position becomes vacant.
• A three-member committee, including Finance Minister Paudel, former governor Bijaya Nath Bhattarai, and economist Dr. Biswo Poudel, has been formed to recommend three candidates.
• The Council of Ministers will select one of these candidates as the new governor.

Candidates for the Post

• Among those in the race for the NRB Governor position are Dr. Neelam Dhungana Timsina and Bam Bahadur Mishra, both current Deputy Governors at NRB.
• Other potential candidates include Executive Directors of NRB, Dr. Gunakar Bhatta and Dr. Prakash Kumar Shrestha, and banker Gyanendra Dhungana.

Transitional Period

• While the appointment process for a new governor is ongoing, Dr. Dhungana will serve as the Acting Governor, ensuring the continuity of leadership at the NRB.