The government appointed Kiran Pandit as the Deputy Governor of Nepal Rastra Bank on Tuesday. The central bank’s structure allows for two deputy governors, but currently only one position is vacant. Pandit has nearly 20 years of experience at the central bank, having worked in the Bank Supervision and Foreign Exchange departments.
Kathmandu, 25 Chaitra. On Tuesday, the government appointed Kiran Pandit as a Deputy Governor of Nepal Rastra Bank. Although the central bank has provisions for two deputy governors, the government has filled only one position, leaving the other vacant. Of the 18 executive directors at the central bank, two are usually promoted to deputy governors, but for now only one appointment has been made.
According to sources from the Ministry of Finance, Pandit was selected as a capable and competitive candidate without political bias. The position had remained vacant as former Governor Dr. Yubaraj Khatiwada’s administration chose not to appoint Rabindra Pandey as deputy governor. Since then, it has been customary to appoint both deputy governors simultaneously.
The source stated, “The mistake made by former Governor Khatiwada has been corrected. For the immediate gap, only one deputy governor has been appointed.” Traditionally, when one deputy governor is appointed, the other is appointed some time later.
The source also added, “To ensure smooth operations in the event the governor is on leave or absent, the first deputy governor was appointed. The second deputy governor will be appointed within the next one to three months. This appointment will be chosen among qualified and competitive candidates recommended by the executive directors.”
Currently, many executive directors aspire to become deputy governors. Time and performance will ultimately determine who assumes the second deputy governor role. Despite holding a two-thirds majority, the government does not have immediate plans to replace those appointed to regulatory positions, according to sources.
The central bank is preparing to wait for current directors before appointing the second deputy governor. It is expected that some will first become executive directors and then progress to deputy governors in due course.
Newly appointed Deputy Governor Pandit has worked at Nepal Rastra Bank for almost two decades. He has gained experience in bank supervision, financial institution regulation, payment systems, and the foreign exchange department. After becoming an executive director on 20 Falgun 2081, he led the Payment Systems Department and was transferred to the Foreign Exchange Management Department last Kartik.
During his tenure as director, he was honored as an outstanding employee during the 69th anniversary of Nepal Rastra Bank. Pandit completed his Bachelor of Business Studies from Public Youth Campus, where he was among the top performers in his batch at Tribhuvan University. He also holds a master’s degree in sociology from Tri-Chandra Campus.
