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Section 16
Appointment of Deputy Governor

(1) The Government of Nepal, the Council of Ministers shall appoint the Deputy Governor on the recommendation of the Governor. (2) According to sub-section (1), when the Governor recommends for the appointment to the post of Deputy Governor, he shall recommend a list of double the number of vacancies based on performance from among the officers of specific categories of the Bank. (3) This section Accordingly, the person appointed to the post of Deputy Governor shall be deemed to have automatically retired from the service of the Bank.