Dr Gunakar Bhatta resigns from NRB; set to be appointed Governor

KATHMANDU: Dr Gunakar Bhatta, the executive director of Nepal Rastra Bank (NRB), has tendered his resignation.

Sources at the central bank said Dr Bhatta stepped down after it became certain that he would be appointed Governor of the Nepal Rastra Bank (NRB).

Leaders of the Nepali Congress (NC) say Prime Minister KP Sharma Oli and Nepali Congress (NC) President Sher Bahadur Deuba have reached an understanding to appoint Dr Bhatta as the 18th governor of the central bank.

Bhatta has worked in the Bank and Financial Institutions Regulation Department, Bank Supervision Department, Payment Systems Department, and Public Debt Management Department of the NRB. He also served as an economic advisor to the Ministry of Finance and a member of the Revenue Advisory Board when Dr. Prakash Sharan Mahat was the Finance Minister. Dr Bhatta also served as the central bank’s spokesperson for over four years.

Although the government formed a three-member recommendation committee under Minister for Finance Bishnu Prasad Paudel to recommend three names for appointment as the Governor, it had not been able to make recommendations yet due to a lack of consensus among ruling coalition partners. However, with Dr Bhatta now almost certain to take the top NRB position, the committee is likely to make its recommendation on Friday itself.

The government last week appointed the senior-most Deputy Governor, Dr Nilam Dhungana, as the Acting Governor until a new Governor is appointed.