NEPSE chairman position had been vacant for a long time. The position became vacant after Shova Kanta Poudel was promoted from joint Secretary to Secretary. For months, the stock exchange operated without a permanent leader, leaving investors and market watchers waiting for a new appointment.
Now, Hemant Basnyal has been appointed as the chairman of the Nepal Stock Exchange (NEPSE). He will serve a three-year term, following a decision made at the ministerial level.
Before this appointment, Basnyal was the Chief Executive Officer of NRN Infrastructure and Development. He resigned from that position a few days ago, citing personal reasons, after leading the company for nearly two years.
Basnyal had also previously applied for the role of chairman at the Securities Board of Nepal, the regulator of the capital market. In addition, he had shown interest in becoming NEPSE’s CEO in the past, reflecting his long-standing involvement in Nepal’s financial sector.
