February 5: Himalaya Shumsher Rana, the first governor of Nepal Rastra Bank (NRB), passed away on Sunday morning. He was 96.

According to family sources, he died early on Sunday while undergoing treatment at Thapathali-based Norvic International Hospital. He was undergoing dialysis at the hospital but it was pneumonia that claimed his life, said one of his family members refering to the doctors.

People close to him recall Rana as a soft-spoken gentleman who was highly regarded for his well behavior as well as professional integrity.

Rana, the great grandson of the then Prime Minister Dev Shunsher Rana, held the position of the governor of Nepal Rastra Bank from April 26, 1956 to February 7, 1961, according to the official website of NRB.

He is also the founding chairman of Himalayan Bank. Rana is credited for modernizing the financial institutions of Nepal in capacity of the central bank’s governor and also the finance secretary of the country.

Rana, who was also a noted business leader, was recently conferred with the “Lifetime Achievement in Business Leadership Award 2022” during the Seventh NewBiz Business Conclave and Awards on December 12.

According to the jury of the awards ceremony, Rana was felicitated with the lifetime achievement business award for his outstanding contribution to the field of business and entrepreneurship in Nepal.

Rana, who was active in work even at the age of 96, is considered as a source of inspiration to the entire business community for the zeal he showed by initiating business ventures in different fields at his old age.

 “He commands the respect of the country's entire private sector as well as of the professionals and general people for his pioneering, innovating and visional roles in a number of fields such as central banking, private sector commercial banking, insurance and manufacturing,” reads the award citation. 

Rana is survived by two sons – Ashoke SJB Rana and Amar SJB Rana – and two daughters – Pratima Pandey and Sangeeta Thapa.