Nepal Government appoints new Governor of Central Bank

Nepal Government on Monday appointed Krishna Bahadur Manandar as the acting Governor of Central Bank of Nepal.

Kathmandu, July 2 : Nepal Government on Monday appointed Krishna Bahadur Manandar as the acting Governor of Central Bank of Nepal.

The decision to appoint Manandar, who is presently the Deputy Governor of the Nepal Rastra Bank (NRB), as the Governor was taken at a Cabinet meeting here today.

However, Manandar has not been given the permission to sign the notes issued by the bank, which officials say will create "practical problems" in the financial sector.

Nepal Government on Friday suspended Bijayanath Bhattarai from the post of the Governor of the Central Bank of Nepal, following charges of financial irregularities against him.

The Commission for Investigation of Abuse of Authority (CIAA) has also filed a graft case against Bhattarai at the Special Court.

According to bank officials, Bhattarai and NRB's executive director Surendraman Pradhan have been accused of causing a loss of Nepali rupees 24.5 million to the public property.

The officials are accused of paying around 68 million dollars to an American company, which breached the contract.

Bhattarai has been absconding while Pradhan is in police custody.

ANI