Kathmandu. The Finance Committee has become very strict on the amendment of the Nepal Rastra Bank Act, 2058. Earlier, a person holding 5 percent or more shares or voting rights was not allowed to become a governor, deputy governor or director of the central bank.

Now, a person holding more than 0.5 percent shares in banks and financial institutions will not be eligible to become governor, deputy governor or director.

The 26th meeting of the Finance Committee held on Friday held clause-wise discussions on the bill designed to amend the Nepal Rastra Bank Act, 2058 BS.

Similarly, in the proposed bill, it has been reduced from 5 percent to 1 percent. In today’s discussion, it has been reduced from 1 percent to 0.5 percent.

Today’s meeting has amended the qualifications required for appointment to the post of governor, deputy governor and director.

Candidate should have at least a Master’s degree or equivalent degree in economics, monetary banking, banking, financial, statistics, public administration, commerce, management, commerce, law and accounting from a recognized university and should have at least 4 years of experience in the executive level or equivalent post in a special class of the Government of Nepal, executive director of a bank, professor of a university or executive level or equivalent post in an ‘A’ class commercial bank or an institution of international economic and financial sector ।

Similarly, the qualification of a director is that the incumbent officer of a commercial bank or financial institution or the chief executive officer should not have completed two years after retiring from such post.