NRB Governer Appointment Delayed As Court Reviews Insurance Authority Chairman’s Case
Kathmandu — The post of Governor at Nepal Rastra Bank (NRB) has remained vacant since Chaitra 23 (April 5), raising concerns over procedural delays and legal ambiguities in the appointment process. Despite legal provisions mandating the appointment of a new governor a month prior to the vacancy, the position remains unfilled.
Although the government has initiated the process to appoint a new Governor, a writ petition filed in the Supreme Court has cast uncertainty over the timeline. The petition questions the eligibility of the Chairman of the Nepal Insurance Authority, one of the potential candidates, and the Supreme Court is expected to deliberate today on whether to issue an interim order. The outcome could influence the government’s next steps.
Government sources suggest that a decision may be taken during the Council of Ministers meeting scheduled for tomorrow. However, if the court does not conclude the hearing today, the appointment process may be further delayed.
Legal experts have cautioned the government against bypassing due procedures. They argue that appointing a Governor without following the criteria outlined by the Ministry of Finance could prompt immediate legal challenges. As per existing laws, similar to appointments in the Securities Board of Nepal and the Nepal Insurance Authority, the selection of the Governor must follow a transparent process involving public notification.
Contrary to these provisions, the Governor Selection Committee is reportedly considering recommending three candidates directly to the Council of Ministers without issuing a public call for applications. The committee was formed in the last week of Falgun month under the leadership of Deputy Prime Minister and Finance Minister Bishnu Poudel. Other members include former Governor Vijayanath Bhattarai and economist Bishwa Poudel.
Despite its formation, the committee has not yet begun formal operations. Sources indicate the government is waiting to secure agreement with the incoming Governor before instructing the committee to process the required documentation.