In a dramatic revelation that has created ripples across Nepal’s financial landscape, Governor of Nepal Rastra Bank (NRB), Mr. Maha Prasad Adhikari, recently disclosed his personal and family-owned assets, unveiling a stunning portfolio worth millions. The disclosure includes over Rs. 140 million in stock investments, 45 tolas of gold, Rs. 1.5 million in diamonds, and valuable land and property holdings. The announcement has reignited discussions on transparency, wealth accumulation, and ethics in public office.
🔎 Detailed Breakdown of the Governor’s Assets:
The officially released statement outlines:
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45 tolas of gold jewelry, equivalent to a substantial market value.
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Diamonds worth Rs. 1.5 million.
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Rs. 2 to 2.7 million in various bank accounts, held by the Governor, his wife, and their children.
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A foreign currency account in Sanima Bank, holding around USD 5,500.
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Approximately 1.5 million units of shares, valued at over Rs. 140.57 million, invested in prominent companies such as Sanima Bank, Sanima Hydropower, Sanima Middle Tamor Hydropower, Globeco Pvt. Ltd., United Urja Hydropower, and Chitwan Energy.
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His wife Pratibha Sharma owns two properties:
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One in Sainbu, Lalitpur (valued at Rs. 15.5 million),
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Another in Gaindakot, Nawalparasi (valued at Rs. 6 million),
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And a Suzuki car worth Rs. 4.4 million.
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These holdings are stated to be a combination of ancestral and self-earned properties.
📉 Financial Markets React:
On the same day as the asset disclosure, Nepal’s share market reflected mixed sentiments:
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The NEPSE index fell by 0.33 points, closing at 2600.20.
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A total trading volume of Rs. 5.94 billion was recorded—slightly higher than the previous session.
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Notably, Madi Energy’s share price hit the upper circuit, showcasing investor confidence in hydropower stocks.
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Despite minor downturns, hydropower companies remain attractive, drawing substantial investor attention.
🏦 Central Bank’s Policy Shifts:
Nepal Rastra Bank has announced significant monetary interventions:
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The bank plans to withdraw Rs. 50 billion from the banking system via a 63-day deposit collection drive—the longest-term liquidity operation to date. This aims to manage excess liquidity and stabilize interest rates.
💰 Banking and FinTech Innovation:
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Manjushree Finance and Khalti have introduced “Smart Deposit”—a savings feature via digital wallets.
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Citizens Bank launched a mobile loan facility offering up to Rs. 200,000 directly through smartphones.
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Technical glitches were reported in NIC Asia Bank, where ATM transactions failed despite account deductions.
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Commercial banks have disbursed loans worth Rs. 376 billion over the first 11 months of the current fiscal year.
🌍 Foreign Direct Investment (FDI) and Economic Policy:
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Nepal has witnessed a 33% increase in FDI commitments over the first 10 months of FY 2081/82.
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Commitments totaled Rs. 56.78 billion, across 565 projects, with potential to create 17,746 jobs.
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However, actual inflows remain moderate, lagging behind commitments.
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A study revealed that a 1% increase in corruption reduces FDI inflows by approximately 9.1%, raising concerns about governance.
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In a major shift, the government announced that Nepali IT companies can now invest abroad, with Nepal Rastra Bank amending the 2078 Foreign Investment and Foreign Loan Regulations.
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Companies can invest up to 25% of their annual export earnings abroad, provided they repatriate 50% of their profits.
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Economists caution that rising external debt threatens Nepal’s ability to meet its Sustainable Development Goals (SDGs).
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Former Finance Minister Janardan Sharma emphasized the need to accept only non-political, sustainable grants and limit dependence on foreign loans.
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🛡️ Insurance Sector Developments:
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MetLife Nepal launched a campaign to revive lapsed policies with waived late fees.
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NLG Insurance, in collaboration with the United Nations Development Programme (UNDP), announced an inclusive insurance initiative.
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Insurance Authority Chair Suryaprasad Silwal has been suspended over corruption allegations, prompting the authority to draft and enforce anti-money laundering policies.
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Insurance penetration now covers 44.64% of Nepal’s population, but is still heavily reliant on mandatory schemes.
🚨 Other Major Headlines:
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Federal Affairs Minister Raj Kumar Gupta is facing serious bribery allegations, involving Rs. 7.8 million. Despite audio evidence, Gupta has denied the voice is his.
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An audit found over Rs. 44.2 million in irregularities in Chautara Sangachokgadhi Municipality.
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Kathmandu District Court released all 18 individuals arrested in the Lalita Niwas land scam on bail.
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In a remarkable development, Dailekh district discovered an estimated 112 billion cubic meters of methane gas, enough to supply Nepal’s gas demand for 50 years.
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Gold prices dropped by Rs. 1,500, settling at Rs. 192,000 per tola, while silver dipped by Rs. 20 to Rs. 2,140 per tola.
📌 Conclusion:
Governor Paudel’s asset disclosure has not only stirred public interest but also offered a rare glimpse into the financial affairs of Nepal’s central banking leadership. Amid evolving economic policies, rising FDI interest, and sweeping changes in banking and insurance sectors, Nepal finds itself at a turning point. The nation’s path toward sustainable growth and transparency hinges on how these revelations and reforms are handled—both in public perception and in policy execution.