Nepal, Sept. 16 -- The Finance Committee under the House of Representatives has unanimously passed its report on the bill to amend the Nepal Rastra Bank Act, introducing several changes to the proposed legislation.

The committee, which met on Wednesday, has shortened the terms of the Nepal Rastra Bank governor, deputy governors and board members from the existing five years to three years. They may be reappointed for an additional two years based on their performance.

The committee has also revised and streamlined the objectives of Nepal Rastra Bank and updated the eligibility and experience requirements for the governor, deputy governors and independent board members. The report makes it mandatory to appoint at least one woman as an i...