Kathmandu, Feb. 5
Himalaya Shumsher JBR Rana, the first man to put his
sign on the Nepali currency notes as the governor of the central bank, passed
away on Sunday at the age of 95. He was suffering from Parkinson's disease for
the last five years.
Late Rana was appointed as the governor of the Nepal
Rastra Bank (NRB) by King Mahendra at after the inaugural of the central bank on
26 April 1956. Then Rana was 29 years old.
Before assuming the leadership of the central monetary
authority, he was appointed as the finance secretary at the age of 23 years in
1950.
Born in 1927 in Thapathali, Kathmandu, late Rana had
obtained a post graduate degree from the University of Bombay. He had supported
the first finance minister after the establishment of democracy in 1950,
Subarna Shumsher to formulate the first ever budget of Nepal, and created
various departments at the Ministry of Finance.
He had contributions in leading Nepal to the
membership of the International Monetary Fund and World Bank, adding security
features to Nepali currency notes, and pegging Nepali currency with the Indian
one. During his governorship of the central bank, Nepal pegged Nepali currency
with the Indian at the rate of 1.60=1.
Late Rana had worked at the United Nations and served
as its residential representatives in various countries for more than two
decades. He was the founder of Himalayan Bank, a commercial bank established in
1993 in the joint venture with Habib Bank of Pakistan.
Meanwhile, the NRB organised a condolence ceremony on
its premises on Sunday to pay homage to its first governor. The central bank
has said that it has lost a guardian and foremost leader. It also said that late
Rand had an important contribution to the expansion of financial and industrial
sectors in Nepal.
Published in The Rising Nepal daily on 6 February 2023.
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