The government has started the process of selecting a new governor. Rashtra Bank Governor Maha Prasad Adhikari's term is ending on Chait 25. For this reason, the Cabinet meeting held on Wednesday decided to give approval to the Ministry of Finance to form the Governor's Recommendation Committee.

In the Nepal Rastra Bank Act, there is a provision to form the Governor's Recommendation Committee under the chairmanship of the Minister of Finance. The committee will consist of one person from among the former governors, one person appointed by the government from among eminent persons in the fields of economic, monetary, banking, financial and commercial law. A three-member committee will recommend three names.

in which there is a provision that the name of one of the deputy governors must be recommended. The present Deputy Governor Neelam Dhungana, Bam Bahadur Mishra and others are competing to become the governor. Due to the provision in the law, it is certain that the name of at least one of the two deputy governors will reach the cabinet. There is a legal provision that the committee should recommend to the Cabinet a list of three persons from among the distinguished persons and Deputy Governor in the fields of economic, monetary, banking, financial, commerce, management and commercial law. 

Section 20 of the National Bank Act, 2058 stipulates that the person appointed to the post of governor must be a citizen of Nepal, must have high moral character and must have at least a master's degree in economics, monetary, banking, finance, commerce, management, public administration, statistics, mathematics or law and must have 10 years of work experience. 

Governor's work, duties and powers are clear in the National Bank Act. The governor has the right to implement the decisions made by the committee, to manage and operate the bank, to organize the work to be done by the bank, to represent the bank in international organizations, to implement policies related to monetary and foreign exchange.