KATHMANDU: Maha Prasad Adhikari has been appointed the new governor of Nepal Rastra Bank (NRB), the central bank of Nepal.

A decision to this effect was taken by a meeting of the Council of Ministers on Monday.

Adhikari along with Keshav Prasad Bhattarai and Chintamani Siwakoti were chosen as candidates for the position of governor by the recommendation committee coordinated by Finance Minister Yubaraj Khatiwada.

Adhikari was the Chief Executive Officer of Investment Board Nepal (IBN), prior to which he was serving at NRB as deputy governor.

NRB, which was established in 1956 under the Nepal Rastra Bank Act-1955 is the monetary, regulatory and supervisory authority of banks and financial institutions in the country.