Manandhar appointed acting NRB governor

The government on Monday has appointed Deputy Governor Krishna Bahadur Manandar as acting governor of Nepal Rastra Bank (NRB).

A cabinet meeting held today at Prime Minister's official residence at Baluwatar had decided to appoint Manandhar as the acting governor of the NRB.

Governor Bijay Nath Bhattarai was suspended on Friday after the Commission for the Investigation of Abuse of Authority (CIAA) registered a case against him at the Special Court.

According to a report, protraction of the case against governor Bhattarai could create several “practical problems” in issuing notes and the financial sector since the acting governor can’t sign the notes issued by the bank.

Meanwhile, Finance Minister Dr. Ram Sharan Mahat on Tuesday said that the suspension of Nepal Rastra Bank (NRB) governor Bijaya Nath Bhattarai wouldn’t affect the finance sector.

Talking to journalist after a cabinet meeting today, the Dr. Mahat stated that the senior deputy governor would take charge of the bank’s administration as its acting governor.

Dr. Mahat also stated that the government is working to find solutions to the practical problems that are existent in the financial sector.