Banking News – According to the 2021 census, the number of women in Nepal stands at 14.9 million, while the number of men is slightly more than 14.2 million. In other words, women make up more than half of the total population of 29.1 million, accounting for 51.02%. Despite this, women who have risen to high positions and made a significant mark in society are still a rarity. However, there are diligent, hardworking, and courageous women who have faced challenges and turned them into opportunities, paving their way to leadership roles in various sectors.

One such example is Dr. Neelam Dhungana Timalsina, Senior Deputy Governor of Nepal Rastra Bank. She has made a remarkable identity in Nepal’s financial sector, becoming the first female Deputy Governor in the history of Nepal Rastra Bank. She is the first woman to serve in this position and has become an inspiration for many women across the country.

While Dhungana set a new record by becoming the first female Deputy Governor in the history of Nepal Rastra Bank, Nepal has yet to see a female Governor. After the country received a new constitution in 2072, Bidhya Devi Bhandari became Nepal’s first female President, holding the role for two terms, a total of 10 years. Similarly, Onsari Gharti Magar became Nepal’s first female Speaker, and Sushila Karki became the first female Chief Justice in 2073. In this sense, women have already held significant leadership positions, including the President, Speaker, and Chief Justice. However, women have yet to hold the same level of leadership in the central bank.

Dhungana has worked hard for over three decades to reach the “second person” position in Nepal Rastra Bank. She entered the central bank as an assistant officer 27 years ago, in 2054, and since then has steadily advanced through various positions. She is currently in the race for the role of Governor. If she becomes the Governor, it will set a new milestone.

Born in Jhapa, Academic Excellence, Gold Medalist in MBA

Like many individuals, Dhungana had her own desires and aspirations, and she worked tirelessly to achieve them. However, unlike some, she did not set a clear goal of what she wanted to become. Even after entering Nepal Rastra Bank, she never imagined she would reach this high of a position. Through continuous hard work and patience, she reached where she is today. She initially wanted to study science, but due to a lack of resources in her hometown, she ended up studying commerce instead.

She said, “I didn’t have a clear goal of what I wanted to be. After not being able to study science, I studied commerce. But due to my hard work, passing exams was never a problem.”

Dhungana spent her childhood in Jhapa, Pethar, Tehrathum, and Janakpur, moving frequently due to her father’s job as a school inspector. Growing up in an educational environment with both parents being teachers, she had a strong foundation in education. She completed her SLC and ICom from Damak, and then went on to complete her bachelor’s and MBA degrees from Mahendra Morang Campus and Post Graduate Campus in Biratnagar, respectively. Dhungana became a gold medalist in MBA, securing the top position among women students nationwide.

Struggles and Determination

Before joining the banking sector, Dhungana taught at a private school. While working as a teacher, many people, including her husband, encouraged her to apply to Nepal Rastra Bank. In 2052, when the application process opened, Dhungana, with encouragement from her husband, filled out the form.

She recalls, “I had no idea about the process. My husband not only informed me about the opening but also brought me the form to fill.” When she reached Kathmandu for the exam, she was disheartened to find a notice on a tree that the exam had been postponed. She remembers, “I traveled all the way from Jhapa to Kathmandu, only to find that the exam was canceled.”

However, this setback gave her more time to prepare, and two years later, in 2054, she took the exam again. After the exam results were published, Dhungana was selected for the position, though she did not initially realize it. Her family brought the good news to her, and she joined Nepal Rastra Bank as an assistant officer with a starting salary of 5,500 rupees.

Proving Herself at Every Step

Dhungana says that being a woman in any field is challenging, especially when it comes to balancing both work and family responsibilities. She emphasizes that women must prove themselves at every step in their careers. “People often think that a woman can’t handle certain tasks, but once you prove yourself, trust is gained,” she said.

Dhungana’s consistent dedication and patience have led her to her current position. She continues to prioritize her work while continuing her studies. After five years of working at Nepal Rastra Bank, Dhungana went on to earn a Master’s degree in Economics from the University of Wollongong in Australia. She also earned a doctorate in banking and monetary transmission from India.

Today, Dhungana is proud to hold the position of Senior Deputy Governor, with experience in handling various departments within Nepal Rastra Bank, including the Foreign Exchange Management Department, Monetary Management Department, Economic Research Department, and more. She takes pride in the responsibility and leadership her position entails.

Family Support is Key

Dhungana attributes much of her success to her supportive husband and family. Married at the age of 19, she credits her husband’s encouragement for her drive to succeed. “He always pushed me to do something, to establish myself in society, and to become self-reliant,” she said. Their support allowed her to continue her education without the burden of family pressures.

Dhungana believes that the work environment for women in Nepal still has a long way to go. She points out the challenges women face in balancing work and family life, and how many workplaces still harbor biases that women must overcome.

The Future of Women in Banking

Dhungana is optimistic about the future of women in the banking sector. She believes that the sector offers great career growth opportunities for women. “Hard work and dedication are essential, but once you prove yourself, the opportunities are limitless,” she said.

She also expressed concern about the challenges women still face in the workplace, particularly sexual harassment. She advocates for a zero-tolerance policy for sexual harassment and believes that women must be empowered to speak out without fear of societal backlash.

Dhungana’s journey from an assistant officer to the Senior Deputy Governor of Nepal Rastra Bank exemplifies the importance of hard work, dedication, and patience. She remains a source of inspiration for women striving to reach leadership positions in any field.

This interview is part of a special series celebrating International Women’s Day (March 8) and highlights the leadership roles of women in banking and insurance.