KATHMANDU: Following the weeks of intense political between ruling coalition partners—the Nepali Congress and the UML—the government has finally appointed Dr. Biswo Nath Poudel as the 18th Governor of Nepal Rastra Bank (NRB), marking the end of a high-stakes standoff over leadership of the country’s central bank.

The decision came during a Cabinet meeting held on Tuesday (May 20, 2025), where the government endorsed Poudel’s nomination based on the recommendation of a high-level selection committee chaired by Deputy Prime Minister and Finance Minister Bishnu Paudel. The panel had shortlisted three candidates: acting governor Neelam Dhungana Timilsina, senior official Dinesh Bhattarai, and Dr. Poudel, who ultimately emerged as the reluctantchoice—albeit after intense behind-the-scenes political maneuvering between Prime Minister K.P. Sharma Oli & Congress President Sher Bahadur Deuba.

According to sources familiar with the discussions, the appointment only moved forward after Nepali Congress President Sher Bahadur Deuba issued a blunt ultimatum to Prime Minister KP Sharma Oli, reportedly threatening to disrupt the fragile balance within the ruling alliance if Poudel, the Congress’ nominee, was sidelined. The pressure appears to have tipped the scales, pushing Oli to approve the appointment—reluctantly.

Established in 1956 under the Nepal Rastra Bank Act of 1955, Nepal Rastra Bank (NRB) is entrusted with formulating the nation’s monetary policy, ensuring financial stability, regulating the banking system, and managing foreign exchange reserves. Over nearly seven decades, the central bank has evolved in step with Nepal’s shifting economic landscape—guiding the country through eras of nationalization, liberalization, and digital transformation.

Since its inception, 17 governors had led NRB through various political regimes—monarchy, democratic transitions, and federal republicanism—each leaving their mark on the institution’s expanding role in shaping Nepal’s financial future. Following the Poudel appointment here is the complete list of Nepal’s 18 Central Bank Governors:

1. Mr. Himalaya Shumsher J.B. Rana (26 Apr 1956 – 7 Feb 1961)

2. Mr. Laxmi Nath Gautam (8 Feb 1961 – 17 Jun 1965)

3. Mr. Pradyuma Lal Rajbhandari (18 Jun 1965 – 13 Aug 1966)

4. Dr. Bhekh Bahadur Thapa (14 Aug 1966 – 26 Jul 1967)

5. Dr. Yadav Prasad Pant (24 Apr 1968 – 28 Apr 1973)

6. Mr. Kul Shekhar Sharma (29 Apr 1973 – 12 Dec 1978)

7. Mr. Kalyana Bikram Adhikary (13 Jun 1979 – 8 Dec 1984)

8. Mr. Ganesh Bahadur Thapa (25 Mar 1985 – 22 May 1990)

9. Mr. Hari Shankar Tripathi (10 Aug 1990 – 17 Jan 1995)

10. Mr. Satyendra Pyara Shrestha (18 Jan 1995 – 17 Jan 2000)

11. Dr. Tilak Bahadur Rawal (18 Jan 2000 – 17 Jan 2005)

12. Mr. Deependra Purush Dhakal (29 Aug 2000 – 27 Apr 2001)

13. Mr. Bijaya Nath Bhattarai (31 Jan 2005 – 30 Jan 2010)

14. Mr. Deependra Bahadur Kshetry (15 Jan 2009 – 26 Jul 2009)

15. Dr. Yuba Raj Khatiwada (22 Mar 2010 – 19 Mar 2015)

16. Dr. Chiranjibi Nepal (22 Mar 2015 – 18 Mar 2020)

17. Mr. Maha Prasad Adhikari (6 Apr 2020 – 5 Apr 2025)

18. Mr. Biswo Poudel -Appointed as 18th governor of Nepal Rastra Bank