Kathmandu – As the term of 17th Governor Mahaprasad Adhikari is about to end, discussions have begun on the topic of the next governor. The cabinet has formed a Governor Recommendation Committee under Minister for Finance Bishnu Prasad Paudel to recommend candidates to succeed Governor Adhikari.

As per Article 15 of the Nepal Rastra Bank Act, 2001, the committee has to recommend three persons renowned in the field of economic, monetary, banking, finance, commerce, management and commercial law, and from among the deputy governors. “The Council of Ministers shall, out of the names recommended, one person to the Office of Governor,” it adds.

A Deputy governor must also be recommended while recommending candidates for Governor as per the Nepal Rastra Bank Act, 2001, the two deputy governors are automatic contenders for the position. Apart from them, several other candidates, including CEOs of various banks, former executive directors of NRB, incumbent secretaries and former finance secretaries are also in the race for the 18th governor.

NRB staffers say Deputy Governors Nilam Dhungana and Bam Bahadur Mishra are automatically in the race. Prabhu Bank CEO Ashok Sherchan, Nabil Bank CEO Gyanendra Prasad Dhungana, Office of the Investment Board Nepal’s former CEO Sushil Bhattra are also in the running for the position.

With the Congress dominating the governor recommendation committee, there is a strong possibility that Neelam Dhungana's name may be removed from the governor's list. Although Dhungana's name has been recommended as a possible governor, there is an understanding that her name will be removed because she is close to former President Bhandari. If the Congress dominates, Nabil Bank CEO Gyanendra Dhungana is almost certain to become the 18th governor. 

Incumbent Governor Maha Prasad Adhikari is also seeking reappointment, actively working to secure another term. 

Governor competatives:

• Dr. Gunakar Bhatta, Executive Director at Nepal Rastra Bank (affiliated with the Nepali Congress).
• Dr. Prakash Kumar Shrestha, a National Planning Commission official with a background at the central bank (affiliated with UML).
• Dev Kumar Dhakal, a recently retired NRB official, though past allegations against him could weaken his candidacy.
• Dr. Chintamani Siwakoti, former Deputy Governor (affiliated with the Nepali Congress).
• Ravindra Pandey, a sitting NRB board director (affiliated with the Nepali Congress).

Bureaucrats and Economists in the Race

Several former government officials are also eyeing the post, including:

• Rameshwar Khanal, former Finance Secretary.
• Arjun Karki and Rajendra Kishore Kshetri, both former secretaries with Congress ties.
• Dr. Shivraj Adhikari, Vice-Chair of the National Planning Commission.
• Dr. Bishwo Paudel and Economist Sameer Khatiwada, engaged in lobbying efforts.

Maha Prasad Adhikari Interested to repat Governor of NRB

Nepal Rastra Bank Governor Maha Prasad Adhikari has left all his work and focused his entire attention on returning to the governorship. Governor Adhikari, whose 5-year term is coming to an end since the last week of Chaitra, has focused his entire attention on returning to the Rastra Bank.

In particular, during this period, he should focus on making a future work plan to make the Rastra Bank effective. However, he has been visiting the power center by sitting on 'force leave' with a plan to return to the post. Adhikari was appointed as the governor by the Council of Ministers on Chaitra 21, 2076.

Oli, who was the Prime Minister in 2076, appointed Adhikari as the governor. Adhikari is also said to have high-level relations with the UML leadership. For this reason, there is speculation in the market that Adhikari may return to the governorship. Amidst this suspicion, this suspicion has been further strengthened after information about the meeting with the Prime Minister and the Finance Minister came out in the middle of the night.

Neelam Dhungana to be the 18th Governor of Nepal Rastra Bank

There are more than a dozen aspirants in the race to become the 18th governor of Nepal Rastra Bank. Since the current ruling coalition is CPN-UML and Nepali Congress, people close to those parties are seen leading the race. Neelam Dhungana, who was given the responsibility of acting governor after the governor went on leave, is considered close to former President Bidya Devi Bhandari. Current Prime Minister KP Sharma Oli seems excited to make a woman the chief executive. There is a strong possibility that Prime Minister Oli will make Dhungana the governor at the request of former President Bhandari and to set the record of making a woman the chief executive.

News sources claim that the prime minister is positive about making Dhungana, who became the first deputy governor in the history of the Rastra Bank, the governor. Coincidentally, Gadtaula was the acting chief secretary when Oli became the chief secretary. Now Dhungana is also the acting governor. Therefore, it is said that now there is a strong possibility that the governor of the Rastra Bank will also be a woman.

Bam Bahadur Mishra in the race for 18th governor of Nepal Rastra Bank

Nepal Rastra Bank Deputy Governor Bam Bahadur Mishra. He is at the center of the discussion for the 18th governor. Mishra is a strong contender as the recommendation committee led by Finance Minister Bishnu Prasad Poudel has to recommend the name of one of the two deputies of the Rastra Bank. Moreover, Mishra is from Jhapa, the hometown of Prime Minister KP Sharma Oli, and is considered close to the ruling party CPN-UML.

Mishra joined the National Bank as an assistant director. He has worked in departments such as the Birgunj office of the central bank, financial institution supervision, and foreign exchange department. He has also worked as the executive director of the payment systems department and head of the foreign exchange department.

Deputy Governor Mishra is planning to become the 18th governor and sign the country's notes. He is in the race with his competitors according to this plan. If the recommendation committee recommends it and the council of ministers wants it, he will also become the governor. Deputy Governor Mishra is of liberal thinking and tendency. Based on his experience of working in a commercial bank for over 10 years, he also has in-depth knowledge of banks and financial institutions and the industrial and business sectors.

Sushil Bhatta is 18th governor race of Nepal Rastra Bank

There are a significant number of governor aspirants in the market. Many aspirants are branding themselves as governors. However, some qualified people are also in the race for governor. One of them is Sushil Bhatta, former CEO of the Nepal Investment Board. Bhatta has led the board for 4 years since 2020.

Bhatta was born and raised in Dadeldhura district of Sudurpaschim Province. Before becoming the head of the board, Bhatta has gained experience in several organizations. He also worked as a member of the National Planning Commission for 2 years from 2018.

In addition to working as a manager at Siddhartha Bank, he also worked as the marketing head and PR relations department at Kumari Bank. Before that, Bhatta, who started his career in 2003, had also worked in the Danidada/Kailali Rural Electrification Project.

Sushil Bhatta, who is also the brother of Deepak Bhatta, is considered close to the founding group of the Nepali Congress and President Sher Bahadur Deuba. Similarly, Bhatta's home district is also Dadeldhura. The same Bhatta is in the process of 'lobbying' with plans to sign the note as the 18th governor.