Khadka’s Lust for ADB CEO Raises Many Eyebrows in NRB


A top-level Nepal Rastra Bank (NRB) official has applied for the post of Chief Executive Officer (CEO) of the government-owned Agricultural Development Bank (ADB). Lok Bahadur Khadka, Executive Director at NRB's Bank Supervision Department (BSD), is among the 18 contenders vying for the coveted post. However, Khadka's application for the post of CEO of a bank under his own supervision has surprised other officials in NRB.

 
A former NRB Governor said that Khadka's lust for ADB CEO has raised some serious questions about his morality, ethics and respect for the Code of Conduct (CoC) for NRB officials. According to the CoC, any NRB employee needs a prior consent of NRB before applying for a job elsewhere. However, this provision of prior consent is not applicable in Khadka's case as he is the chief of NRB's BSD, opined the former governor. According to him, "there is certainly more than meets the eyes" when a NRB top official responsible for the inspection, regulation and supervision of a bank hankers to join the same bank as an employee.

A high-level source also disclosed that other top NRB officials are of the opinion that departmental action should be taken against Khadka for his lust for the CEO of ADB. It is noteworthy here that Khadka is also a promoter of the Bagmati Development Bank which has its head office in Sarlahi, his home district.


The NRB CoC 2008 prohibits its employees from becoming promoter of a bank or financial institutions. The Commission for the Investigation of Abuse of Authority has launched a probe into the matter.