NRB Governor, Deputy Governors and Directors’ Tenure Proposed to Be Limited to Three Years
Summary
The Federal Parliament’s Finance Committee has agreed to limit the tenure of the Nepal Rastra Bank Governor, Deputy Governors and Board Directors to three years, with a possible two-year reappointment based on performance. The proposed amendment also makes at least one woman mandatory on the NRB Board of Directors.
Key Points
- The Finance Committee agreed to amend the Nepal Rastra Bank Act to reduce the initial tenure of the Governor, Deputy Governors and Board Directors from five years to three years.
- Officials may be reappointed for two additional years after a government performance evaluation, bringing the maximum tenure to five years.
- The amendment would require at least one woman on the seven-member Nepal Rastra Bank Board of Directors.
- The changes will take effect only if Parliament passes the amendment bill.
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