Nepal’s oldest bank Nepal Bank too has greater public control now; SGM decides to reduce the number of govt. appointed BoDs and increase elected BoDs from the general public

Nepal Bank has convened its virtual Special General Meeting on Ashoj 19, 2077 through which it has restructured the board of the bank.

As per the media statement, the SGM has endorsed the decision to reduce the government-appointed BoDs to three from the existing four BoDs whereas increasing the elected BoDs from the existing two to three.

Moreover, the SGM has also decided to amend the memorandum adjusting the new change in the board structure and to authorize the board for the amendment work, as per the media statement.