KATHMANDU: The government has appointed Bam Bahadur Mishra and Nilam Dhungana Timsina as Deputy Governors of Nepal Rastra Bank, the central bank of Nepal.
The cabinet meeting held on Tuesday evening appointed Mishra and Timsina as Deputy Governors, said government spokesperson and Minister for Communications and Information Technology Parbat Gurung.
Earlier, the term of Deputy Governors Chintamani Shivakoti and Shivaraj Shrestha has expired. According to NRB Act, the term for Deputy Governor is of five years.
The NRB Act stipulates that the Council of Ministers of the Government of Nepal should appoint a Deputy Governor on the recommendation of the Governor.
Out of the various departments of NRB, all the departments except the Governor’s Office, Financial Information Unit, Internal Audit Department and Law Division should be handled by the Deputy Governor. Therefore, the Deputy Governor has a role to play in capacity building as well as effective regulation and supervision.
The Act stipulates that in order to be appointed as a Deputy Governor, one must have at least a master’s degree in finance, monetary, banking, finance, commerce, management, public administration, statistics, mathematics or law and work experience in the fields of finance, monetary, banking, finance or commerce.