Central Bank to Probe Allegations of Irregularities against its Deputy Governor

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Central Bank to Probe Allegations of Irregularities against its Deputy Governor

November 4: A board meeting of Nepal Rastra Bank on Sunday to discuss the allegations of irregularities against its Deputy Governor Shiva Raj Shrestha failed to take any official decision.

The government had instructed the central bank to investigate Shrestha’s involvement in irregularities by abusing his power as the deputy governor of NRB.

A source at the central bank informed New Business Age that the board meeting didn’t take the matter seriously. The source said that the meeting only held a general discussion regarding the issue.  

Shrestha has been accused of favouring Ncell in a sub judice case at the Supreme Court and also of helping banks and financial institutions to conceal bad loans. The government had instructed the central bank to investigate into these allegations.

Although Sunday’s meeting decided to from a probe committee, one of the board members present in the meeting told New Business Age that the meeting held informal discussions regarding the matter.

According to the board member, Sunday’s meeting has called for another meeting on Monday morning to take a formal decision in this issue.

The government can relieve Shrestha of his duties if the probe committee finds him guilty and the board recommends his removal from the post.

Shrestha, who was appointed deputy governor of Nepal Rastra Bank in 2072, oversees the Supervision Department of the central bank.

 

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