Himalaya Shumsher JBR was the first governor of NRB. After that, Mr. Laxmi Nath Gautam and Mr. Pradyumna Lal Rajbhandari led the NRB as its second and third Governors respectively.

Himalaya Shumsher Rana, the first governor of the Nepal Rastra Bank who is credited for bringing Nepali currency in wider circulation within the country.

Rana had served as Nepal’s first central bank governor from April 26, 1956 to February 7, 1961. He was born on January 8, 1928 in the dynastic Rana family and studied at Durbar High School. He post-graduated from the Bombay University, India and returned home to join government service.

Before being appointed as the first governor of the central bank, he had served as finance secretary under the leadership of the then Finance Minister Subarna Shumsher Rana right after the country had a democratic transition by ending a 104-year-long Rana rule in early 1950s.

Prior to the establishment of the central bank, he was entrusted with the task of drafting its charter as an officer-on-special-duty. For this, Rana had worked in coordination with Sardar Hansa Man Singh, the principal royal advisor, according to the central bank.

The New Governor Race of  Rastra Bank, Dr. Neelam Dhungana is the top line for the governor

Kathmandu, The term of Nepal Rastra Bank Governor Maha Prasad Adhikari is ending in the last week of Chaitra. As the countdown to the end of his term has begun, there has been widespread interest in the new governor. According to the law, there is a provision that a governor can take a leave of absence one month before the end of his term. Based on this provision, if a governor goes on leave, the official will only lead the governor of the Rastra Bank for a few weeks.

Historically, The Governor's appointment has been closely tied to political dynamics. Most recent governors, including Dr. Chiranjibi Nepal, Dr. Yuba Raj Khatiwada, and Maha Prasad Adhikari, have been aligned with the ruling political faction at the time of their election. This pattern suggests that the final decision may reflect the preferences of the current coalition government, particularly Prime Minister KP Sharma Oli's UML party and its allies.

The aspirants for the future governor have started courting the power center by getting close to the power center. Although there are more than 2 dozen aspirations for the governorship, it is understood that some have increased their chances and meetings.

Only a few weeks are left for Governor Adhikari's term to end. Along with this, there is a rush of aspirants to take over the leadership of the 18th Governor of the Nepal Rastra Bank.

As per the Nepal Rastra Bank Act, 2058, one deputy governor must be recommended while recommending a governor, so the two current deputy governors are automatically standing as aspirants. Apart from that, the incumbent Chief Executive Officers (CEOs) of various banks, some former executive directors of the Nepal Rastra Bank and some former administrators are seen in the race for the 18th Governor of the central bank.

Dr. Neelam Dhungana is considered to be in the lead in the line for the governor. The possibility of Dhungana becoming the first woman governor of Nepal has increased. She is close to the ruling CPN-UML and there are indications that the ruling partner Nepali Congress will not object to her name. Similarly, another deputy governor, Bam Bahadur Mishra, is seen in the race for the governor. Mishra has a master's degree in management and economics.

Another strong competitor for the 18th Governor is Prakash Shrestha, a member of the National Planning Commission. Shrestha, who is considered close to Finance Minister Bishnu Poudel, has worked for a long time in the Economic Research Department of the Nepali Bank as an Executive Director. Shrestha, who holds a master's degree in economics from Tribhuvan University, has a master's degree in economics and finance from Curtin University in Australia and a doctorate from The New School University in the United States.

Gunakar Bhatta, the Executive Director of the Nepali Bank, is considered a competitor for the post of Governor. He is considered close to the Nepali Congress. Bhatta, a gold medalist in MBA from Tribhuvan University, is currently the head of the Economic Research Department of the Nepali Bank. Apart from these, Ravindra Pandey, a cadre of the Nepali Bank and currently a member of the board, is also among the aspirants for the post of Governor. Pandey, who is close to the founding of the Nepali Congress, retired as the Executive Director of the Nepali Bank.

Similarly, Gyanendra Dhungana, former President of the Nepal Bankers Association and Chief Executive Officer of Nabil Bank, and Ashok Sherchan, Chief Executive Officer of Prabhu Bank, are also among the aspirants for the post of Governor. Dhungana, who is considered to be close to the Nepali Congress and Ashok Sherchan, who has successfully led Prabhu Bank and has professional skills, is considered close to the CPN-UML.

Govinda Gurung, CEO of the Agricultural Development Bank, which is close to the CPN-UML, is also in the news for the governor post. In addition, Santosh Koirala, CEO of Machhapuchhre Bank and President of the Nepal Bankers Association, Sushil Bhatta, former Executive Chief of the Board of Investment, former Finance Secretary Rameshwor Khanal, former Executive Director of the National Bank Raman Nepal, and former Chief Secretary Rajendra Kishore Chhetri are also in the news as potential candidates.