A serious complaint has been filed at the Commission for the Investigation of Abuse of Authority (CIAA) against Nepal Rastra Bank Governor Dr. Biswo Poudel. The complaint accuses him of abusing his authority, acquiring unexplained assets worth over Rs 170 million, and interfering in the stock market for personal gain.
According to the complaint, Governor Poudel’s actions have harmed the reputation of Nepal Rastra Bank and raised concerns over the transparency of leadership in the country’s financial system.
Allegations outlined in the complaint
- Stock market manipulation:
Governor Poudel is accused of interfering in the stock market to benefit himself and close associates. The complaint claims he manipulated 20% of stock shares for profit. - Violation of banking laws:
The governor allegedly violated banking norms in loan distribution and investment decisions, including irregularities in interest rate adjustments and large-scale loan approvals. - Unexplained wealth:
The complaint claims that the governor owns assets worth more than Rs 170 million, without a clear and legal source. It suggests that the wealth may have been acquired illegally. - Damage to Rastra Bank’s credibility:
The governor’s leadership style has reportedly raised questions about the autonomy and credibility of Nepal Rastra Bank, according to the complainants.
Demand for resignation and deep investigation
The complainants have demanded the governor’s resignation and called for a detailed investigation. They argue that recent decisions under his leadership could have long-term consequences for Nepal’s financial sector.
The CIAA has confirmed receiving the complaint and has already initiated a preliminary investigation considering the seriousness of the accusations.
Background on the governor
Dr. Biswo Poudel was appointed as the 18th governor of Nepal Rastra Bank on Baisakh 20, 2082. He holds a master’s degree and PhD from the University of California and has worked with various international institutions. However, his appointment was from the beginning due to alleged political interference and lack of transparency in the selection process.
This complaint has sent ripples through Nepal’s financial sector. If the ongoing investigation validates the allegations, it could lead to major changes in the leadership of Nepal’s central bank. Many view this as a crucial step toward promoting accountability and transparency in the country’s top financial institutions.
