Kathmandu. The Supreme Court (SC) has disqualified the CEOs and directors of banks issued by the Nepal Rastra Bank (NRB). The same issue is being discussed in the board meetings of the bank and the same topic is being discussed in the Rastra Bank.
If the decision of the Rastra Bank is followed in letter and spirit, then the CEO and Director of the Rastra Bank will be disqualified for 5 years. These include Ram Chandra Khanal, CEO of Kumari Bank, Sanjeev Manandhar, CEO of Prime Commercial Bank and many other directors.
Meanwhile, the NRB has started internal discussions on how to protect the CEO and director after the end of the career of many CEOs. According to the Nepal Rastra Bank, the legal department is currently looking into the matter. However, NRB officials are of the view that the NRB should move forward to protect the CEO and director even in formal and informal discussions.
Bankers are also in a wait-and-see situation after the Nepal Rastra Bank tested positive. Although the Supreme Court has issued a directive order to the Rastra Bank to implement the decision, the central bank has not resigned from the post saying that the central bank would protect them. The board has also not proceeded with the process of removing the CEO.
Meanwhile, the bankers are also preparing to go to court with a petition against the Supreme Court’s decision after the directive of the Nepal Rastra Bank. Bankers are looking for ways to avoid the crux of this decision, seeing that they will lose their jobs due to ineligibility for 5 years and on the other hand, it will be difficult to return to banking even after 5 years.
Advocate Madhu Chaulagain, on the other hand, has said that the Supreme Court’s verdict should be implemented in letter and spirit, otherwise he will take more strict action on this issue and raise the issue in the parliament.
