November 4: Nepal Rastra Bank has suspended its Deputy Governor Shiva Raj Shrestha for his alleged involvement in irregularities. The central bank on Monday formed a three-member probe committee for investigating into the matter.

Nepal Rastra Bank formed the committee headed by Shreeram Poudel following instruction from the government to probe into the matter. Other members of the committee are Dr Subodh Kumar Karna and Ramji Regmi.

The central bank has given one month’s time for the committee to complete the investigation.

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.