Kathmandu, October 5

The selection committee formed by the Ministry of Finance (MoF) has recommended three candidates for the post of general manager (GM) of Nepal Stock Exchange (Nepse) — the sole secondary market of the country.

The selection committee chaired by Joint Secretary of MoF Uttar Kumar Khatri recommended three names to the Cabinet on Wednesday after taking their interviews and studying their business plans.

Chandra Singh Saud, former chief executive officer of Nepal Insurance Company, Pramod Raj Sharma, a university professor, and Manoj Kumar Gnyawali, deputy chief executive officer at Jyoti Bikash Bank have been recommended as possible candidates for the aforementioned post.

The Cabinet meeting will select one of them as the GM of Nepse for a term of four years. The selection committee had taken interviews of all 13 candidates and shortlisted five on September 16.

“The selection committee has finalised the candidates as per their performance during interviews and based on their business plans,” said Khatri.

Prabin Pandak and former Nepse GM Sitaram Thapaliya, who had made it to the top five, are now out of the race.

MoF had taken the initiative to appoint a GM at Nepse on August 1, after former GM Thapaliya completed his four-year tenure on July 7.

Similarly, the MoF has finalised three candidates for the post of chief executive officer (CEO) of the Deposit and Credit Guarantee Fund (DCGF). The selection committee coordinated by Revenue Secretary Shishir Kumar Dhungana finalised three candidates on Wednesday for the post after taking their interviews and examining their business plans.

The MoF has finalised Ghamansingh Khadka, former chief executive officer of Nepal Community Development Bank, Bishnubabu Mishra, acting chief executive officer at DCGF, and Binod Bahadur Karki, a banker, as top three candidates for the CEO of the fund. The Cabinet will appoint one of them as the CEO of the fund for four years.

As a deposit insurer, DCGF started deposit guarantee scheme from 2010. It is a system that protects depositors against loss of their deposits placed with banks and financial institutions (BFIs) in case of BFIs’ failure.