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Banking News \/ <\/strong>The contentious process of appointing a new Governor of Nepal Rastra Bank (NRB) has taken a new legal turn, as a fresh writ petition has been filed in the Supreme Court, challenging the proposed appointment of Dr. Bishwa Poudel. The petition argues that his nomination, influenced by political considerations, violates key provisions of the Nepal Rastra Bank Act, 2058 BS, and the Good Governance (Management and Operation) Act, 2064 BS.<\/p>\n Filed by advocates Pratibha Upreti and Vishal Thapa, the writ claims that the direct involvement of political parties in the appointment process is unconstitutional and undermines the independence of the central bank.<\/p>\n Alleged Legal Violations in the Nomination Process<\/strong><\/p>\n The petitioners have pointed to several legal inconsistencies and procedural violations:<\/strong><\/p>\n Section 25 of the NRB Act mandates that the appointment process be conducted publicly and transparently, beginning at least one month in advance.Section 21(a) prohibits the appointment of individuals affiliated with any political party.Section 32 states that appointed officials must not have personal interest or conflict of interest in the role.<\/p>\n Further citing the Good Governance Act, 2064 BS:<\/strong><\/p>\n Section 16 emphasizes transparency in government decisions. Section 17 requires that reasons and grounds for decisions be clearly stated. Section 18 prohibits appointments in situations involving a conflict of interest.<\/p>\n The writ highlights that Dr. Bishwa Poudel, while still serving as a member of the Governor Recommendation Committee, was proposed as a candidate himself\u2014an act the petitioners claim reflects clear personal interest and political favoritism. The petition also alleges that Poudel has supported political figures such as Mahasamiti members and electoral candidates from the Nepali Congress, raising serious questions about his impartiality.<\/p>\n Demand for Supreme Court Intervention<\/strong><\/p>\n The petitioners have requested the Supreme Court issue a prohibition order under Article 133(1) and (2) of the Constitution of Nepal, barring the Council of Ministers from proceeding with Dr. Poudel’s appointment. They have also invoked Rule 49(1) of the Supreme Court Rules, 2074 BS, seeking an interim order to prevent the Cabinet from appointing any individual who is in violation of the governing Acts, even if recommended.<\/p>\n Parallel Legal Challenge Against Former Governor Adhikari<\/strong><\/p>\n In a related development, a preliminary hearing is being conducted today at the Supreme Court regarding a writ petition filed against former Governor Maha Prasad Adhikari. The petition, filed by advocate Naveen Dhital, contends that Adhikari\u2019s appointment to the Governor Recommendation Committee on Baisakh 17 was unlawful, as it occurred while he was still holding an official position\u2014he retired officially only on Chaitra 24.<\/p>\n The Governor Recommendation Committee, formed on Chaitra 16 under the leadership of Finance Minister Bishnu Prasad Poudel, saw Adhikari replace Bijay Nath Bhattarai following Bhattarai\u2019s resignation. The petition challenges this appointment as a clear breach of procedural fairness and governance norms.<\/p>\n Growing Scrutiny Over the Central Bank\u2019s Leadership Crisis<\/strong><\/p>\n These legal petitions underscore the intensifying scrutiny surrounding the ongoing leadership vacuum at Nepal Rastra Bank, which has now persisted for over a month. As political negotiations continue behind the scenes, these judicial interventions may significantly impact the timeline and legitimacy of the final appointment.<\/p>\n Until the Supreme Court delivers its verdicts, the country\u2019s central banking institution remains without a permanent leader\u2014a concerning development amid growing economic pressures and a volatile monetary environment.<\/p>\n","protected":false},"excerpt":{"rendered":" Banking News \/ The contentious process of appointing a new Governor of Nepal Rastra Bank (NRB) has taken a new legal turn, as a fresh writ petition has been filed in the Supreme Court, challenging the proposed appointment of Dr. Bishwa Poudel. The petition argues that his nomination, influenced by political considerations, violates key provisions […]<\/p>\n","protected":false},"author":1,"featured_media":1178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,12,3],"tags":[],"class_list":["post-1174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-khabar","category-banner","category-main-news"],"yoast_head":"\n
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