Hemant Basyal, Chairman of the Nepal Stock Exchange (NEPSE), has stepped down from his position after serving for just eight months. According to sources, he submitted his resignation to Finance Minister Dr. Swarnim Wagle during a meeting on Monday.

Basyal was appointed as NEPSE Chairman by the government in Bhadra (August/September). However, he resigned before completing his full tenure. The official reason behind his resignation has not yet been disclosed.

During his brief tenure, Basyal had initiated several efforts aimed at reforming Nepal’s capital market and improving structural efficiency. Prior to his appointment at NEPSE, he served as the CEO of NRN Infrastructure and Development Limited.

Following his resignation, the process of appointing a new NEPSE chairman is expected to begin soon.