Nepal Securities Board Chairman Santosh Narayan Shrestha has announced his resignation. Sources say that Chairman Shrestha informed the Securities Board Board of Directors meeting held on Friday that he will resign. “The Chairman has informally informed the meeting that he has decided to step down as per the government’s request and policy,” said a Securities Board director present at the meeting. “He has said that he will submit his resignation by today or tomorrow.”

Chairman Shrestha has gone straight to the Finance Ministry immediately after the Securities Board Board meeting. The Board Chairman has to submit his resignation to the Finance Minister through the Joint Secretary of the Financial Sector Management and Corporation Coordination Division of the Ministry of Finance. Since Mahesh Acharya, the head of the Financial Sector Management and Corporation Coordination Division, is currently out of the country, it is understood that the Chairman will directly submit his resignation to the Finance Minister. According to sources, Shrestha is currently at the Finance Ministry. However, the Finance Ministry has not yet confirmed whether his resignation has been received or not.