Kathmandu. Sudhirnath Pandey was appointed as Deputy Chief Executive Officer (DCEO) of Kumari Bank on 5th August last. After leaving the DCEO of NIC Asia Bank and staying at home for 6 months, he became the DCEO of Kumari Bank. Sudhir Nath, who has three and a half decades of banking experience, had to remain unemployed for six months. After only 6 months, he returned to the banking sector.

Sarjukumar Thapa, who was working as Deputy Chief Executive Officer (DCEO) in Machhapuchhre Bank, left the bank last October. Sanima was appointed as Assistant Chief Executive Officer (ACO) of Sanima Bank after Thapa was released on Voluntary Retirement Facility (VRS). In Machhapuchhre, Thapa Sanima, who was second in rank (second man) after the Chief Executive Officer (CEO), was forced to become an ACO after being reduced by one position.

Sumitbabu Khatri became the Deputy General Manager (DGM) of Prime Commercial Bank with effect from 20th October. Khatri, who has two and a half decades of banking experience, was previously the Deputy Chief Executive Officer (DCEO) of Citizens Bank. He was second man at Citizens Bank. However, he was forced to become the third man in Prime Bank.

Out of the three people, two were demoted and went to another bank, while one stayed at home for 6 months and started working again in another bank. Why were the bankers forced to resign? Why did Sudhirnath, a banker with long banking experience, have to stay at home for 6 months?

To find answers to these questions, one should turn to the guidelines of Nepal Rastra Bank, the regulator of the banking sector. In Section 19 of the Integrated Instruction, Instruction No. 6 of 2078 issued by the National Bank, a 'cooling period' has been arranged for directors and senior managers of banks and financial institutions.

In the section 19 of the integrated directive, except in the case of re-appointment of the Chief Executive Officer and Deputy Chief Executive Officer working in the licensed organization, no appointment of the same nature in any licensed organization can be made after a period of at least 6 months has elapsed after retiring from service for any reason.

Due to this arrangement of Rashtra Bank, Pandey had to remain unemployed for 6 months while Thapa and Khatri's posts had to be reduced. DGM Khatri of Prime Commercial Bank says that he had to be demoted from the post of DCEO due to the regulatory system. He said that the same system of Rashtra Bank has bound the DCEOs. However, he says that there is an obligation to comply with the regulations made by the regulator.

In the past, there are examples of persons who have become CEOs using loopholes of Rashtra Bank and have gone to the second rank. He is of the opinion that ethical questions may also arise when a person who has worked in the position of first priority is demoted and goes to another organization. He says that it is not appropriate to go through the loopholes of the law or the directives of the National Bank.

There are examples of persons who have become CEOs using loopholes of Rashtra Bank and have gone to the second rank. He is of the opinion that ethical questions may also arise when a person who has worked in the position of first priority is demoted and goes to another organization. He says that it is not appropriate to go through the loopholes of the law or the directives of the National Bank.