SC Order has Strengthened Central Bank’s Autonomy: Governor

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SC Order has Strengthened Central Bank’s Autonomy: Governor

April 21: The Supreme Court’s order has strengthened the autonomy of Nepal Rastra Bank (NRB), the central bank’s Governor, Maha Prasad Adhikari, said after resuming his office on Wednesday.

Governor Adhikari resumed his duties and responsibilities after the Supreme Court issued an interim order to overrule the decision of the government to suspend the governor.

He stated that he is determined to ensure the stability of the economy and the financial sector.

After getting reinstated, Adhikari remarked, “The decision of the Supreme Court has strengthened the autonomy of NRB. I am determined to make the economy and financial sector stable.”

Governor Adhikari mentioned that he had no personal ego against anyone and that he would move forward by cooperating with every sector.

“The position of governor is not just a person, but an institution as well. Various obstacles surface in the way of fulfilling responsibilities. We are aware to not hold grudges against anyone and move forward with mutual cooperation,” he said.

The governor was suspended after the council of ministers formed a committee to probe against him on April 7. Adhikari filed a writ petition at the Supreme Court against the decision of the government on Sunday. Responding to the petition, the court overruled the decision of the government to suspend him by issuing an interim order. The court order also allowed him to resume his responsibilities.

The Supreme Court has set the date of next hearing for April 26 to discuss with both the parties about whether or not to extend the interim order. With the decision of the Supreme Court, the probe against Adhikari has been halted till April 26. This automatically released Adhikari from his suspension, enabling him to get back to fulfill his responsibilities.

 

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