KATHMANDU, Jan. 17 -- No evidence found against him, says Minister Gokul Baskota

The government has backed off from its move to remove Nepal Rastra Bank's Deputy Governor Shiba Raj Shrestha from his post.

Though the government instructed the NRB to form an inquiry committee to look into over a half dozen allegations, including his role in undermining the efforts to prevent money laundering, it has decided to not to take any action against him.

The government decided to acquit him stating that an inquiry committee did not find any evidence on the allegations leveled against him.

"There was an investigation on the issue of the central bank. We received the report of the inquiry committee. He received the clean chit as no evidence [of mi...