Banking News – Chudamani Chapagain, Chief Executive Officer (CEO) of the Nepal Stock Exchange (NEPSE), has resigned from his position.

Chapagain submitted his resignation to the Ministry of Finance on Monday.

The government had earlier removed officials from several regulatory bodies through an ordinance. Although the ordinance did not apply to public institutions such as NEPSE, officials in such institutions had reportedly been facing pressure to step down.

Prior to his resignation, the NEPSE Board of Directors had sought clarification from Chapagain following the exchange’s agreement with the Tea Development Corporation to facilitate a share issuance through the book-building method.

According to sources at the Ministry of Finance, Chapagain was also reportedly pressured to resign while responding to the clarification sought by the board.