Manandhar appointed acting NRB governor
Kantipur Report
KATHMANDU, July 2 - The government on Monday appointed Deputy Governor Krishna Bahadur Manandar as acting governor of Nepal Rastra Bank (NRB).
Governor Bhattarai – who is still at large -- was suspended on Friday after the CIAA filed a graft case against him at the Special Court.
A meeting of the council of Ministers today appointed Manandhar as the acting governor of the NRB.
According to the bank officials, 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 media persons after a cabinet meet today, the FM 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.
Bhattarai and NRB executive director Surendra Man Pradhan have been accused of causing Rs 24.5 million loss to public property intentionally by not claiming compensation after terminating a consultation agreement unilaterally, an abuse of power under the Corruption Control Act 2002 and subject to a two-year imprisonment or fine. NRB had channeled around US$68 million to an American company IEF which had signed a contract for Financial Sector Reform Programme. Nonetheless, within a month IEF had breached the contract and in addition had also produced false documents on behalf of a Sri Lankan company KPMG.
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