Dr. Mahato Elected Chairperson of Machhapuchhre Bank
Dr. Upendra Mahato has been nominated as the Chairperson of Machhapuchhre Bank. He is the founding chairman of the Non-Resident Nepali Association (NRNA). The 472nd meeting of the bank’s board of directors held on November 28 decided to elect Dr. Mahato to the post after Birendra Mahato resigned from the bank’s Chairperson following his victory as a member of the House of Representatives in the recently held general elections.

Subedi Appointed as Officiating CEO of United Insurance
Nabin Subedi has been given the responsibility of the Officiating CEO of United Insurance Co. (Nepal) Limited. He is the General Manager of the company. Subedi’s appointment came after Upasana Paudel resigned as CEO of United Insurance.

Poudel Elected Chairperson of Forward Microfinance
Keshav Raj Poudel has been elected as the Chairperson of Forward Microfinance Laghubitta Bittiya Sanstha Limited. A meeting of the board of directors of the company held on November 30 took a decision in this regard.

Earlier, Bhagwati Chaudhary was the Chairperson of Forward Microfinance. The post was vacant after Chaudhary resigned from the post. Poudel has been representing Everest Bank as a Director in the company.

Gupta Elected Chairman of Janaki Finance
Balram Prasad Gupta has been elected as the Chairman of Janaki Finance Company Limited. A meeting of the board of directors of the company held on November 13 nominated Gupta to the post for two years. Previously, he was the Director of the company.

Khanal Nominated Director of Prabhu Insurance
Mahesh Prasad Khanal has been nominated as the Director of Prabhu Insurance Limited representing the Employees’ Provident Fund (EPF). He is the Acting Chief manager of the fund. Earlier, Rajendra Shakya was representing EPF in the board of directors of Prabhu Insurance.

Mainali Given Charge of IRD
Dirgha Raj Mainali has been appointed as the Director General of the Inland Revenue Department (IRD). Finance Ministry has appointed Mainali as the new chief of the IRD recalling incumbent DG Ritesh Shakya to the ministry.

Mainali who had earlier served as DG of the Department of Revenue Investigation (DRI) is taken as a qualified officer in revenue administration. During his tenure at the DRI, Mainali had initiated action against multinational companies including Coca-Cola in tax evasion cases.

Khanal appointed CEO of Nepal Remit International
Chartered Accountant Sagar Khanal has been appointed as the Chief Executive Officer of Nepal Remit International Pvt. Khanal, 29, has over 7 years of experience in the remittance sector.

Govt appoints Jitendra Dhital as administrator of EPF
The government has appointed Jitendra Dhital as the administrator of the Employees Provident Fund (EPF). Dhital was earlier acting administrator of the fund. The EPF manages Provident Fund (PF) in Nepal on behalf of the government for government, public enterprises and private sector employees. It has been entrusted to manage Contributory Pension Scheme for the employees of federal government and other public sector employees.

Paudel Joins Himalayan Reinsurance as Deputy CEO
Upasana Paudel has been appointed as the Deputy CEO of Himalayan Re-Insurance Company Limited. Earlier, she was the CEO of United Insurance Co (Nepal) Limited. At 34, Paudel became the first female and the youngest CEO in the Nepali insurance sector when she was appointed as the CEO of United Insurance in April 2021.

She is an MBA from Delhi University. She has over a decade of experience in insurance and other sectors and has worked in companies including Cummins India, ICICI Lombard, Vodafone, Bharati AXA General Insurance and Sanima General Insurance.

Life Insurers’ Association Elects New Working Committee 
Poshak Raj Poudel has been elected as the President of the Life Insurers’ Association Nepal, an organization of CEOs of life insurance companies. The third annual general meeting of the association held on November 25 elected a new working committee of 7 members under the leadership of Paudel.

Paudel, who is the CEO of Citizen Life Insurance, is the outgoing Vice President of the association. Nirmal Kazi Shrestha, CEO of MetLife Insurance Company, was the President of the previous working committee.

Pravin Raman Parajuli, CEO of Nepal Life Insurance, has been elected as the Vice President of the association while Prakash Bikram Khatri, CEO of Jyoti Life Insurance, has been elected as the General Secretary. Likewise, Dinesh Lal Shrestha, CEO of Asian Life Insurance, has been elected as the Treasurer.

Similarly, Narayan Babu Lohani, CEO of Reliable Nepal Life Insurance, Kabi Phuyal, CEO of IME Life Insurance and Laxmi Prasad Das, CEO of LIC Nepal have been elected as Members.

Bijukchhe and Sharma Elected Directors of Prudential Insurance
Bibek Bijukchhe and Namita Sharma have been elected as Directors of Prudential Insurance Co. Limited. Bijukchhe will represent the promoter group while Sharma will represent public shareholders in the company.

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