Kiran Pandit Appointed as Deputy Governor of Nepal Rastra Bank

Kathmandu. Kiran Pandit has been appointed as the Deputy Governor of the Nepal Rastra Bank. The Cabinet meeting held on Tuesday appointed Pandit to the position for a five-year term.

Following the completion of the terms of former Deputy Governors Dr. Neelam Dhungana and Bam Bahadur Mishra on Falgun 24, two high-ranking positions at the central bank had become vacant. Today, an appointment was made for one of those positions. 

In accordance with the Nepal Rastra Bank Act, Governor Dr. Bishwanath Poudel had recommended the names of four executive directors to the government for the two vacant positions.

The newly appointed Deputy Governor is currently an executive director at the Foreign Exchange Management Department of the central bank. Having joined the Rastra Bank in 2062 BS, he has successfully become a Deputy Governor within 20 years of service. Pandit has also previously served as the spokesperson for the central bank.

Pandit is considered highly capable in financial sector regulation. He is viewed as a candidate who does not hesitate to make major decisions, even while resisting pressure from interest groups. The working capital loan directive introduced during his tenure in the regulation department was implemented despite significant pressure from business owners. 

He has previously served as the head of the Bank Supervision Department, the Bank and Financial Institution Regulation Department, the Financial Inclusion and Consumer Protection Division, and the Payment Systems Department. Before becoming an executive director, he also worked for a long time as a director in the regulation department.