KATHMANDU: The professional journey of Madhav Prasad Upadhaya, Chief Executive Officer of Garima Bikas Bank Limited, reflects a story of perseverance, continuous learning and gradual advancement from the classroom to the highest executive position of a national-level development bank.

Born on B.S. 2032 Bhadra 8 in Bhumre Bazar, Waling Municipality-1, Syangja, Upadhaya grew up in a middle-class family. He completed his SLC in First Division from Ranbir Janahit Higher Secondary School in 2048 B.S. He then pursued management studies, completing his Proficiency Certificate Level from Waling Multiple Campus, bachelor’s degree in management from Prithvi Narayan Campus, Pechora, and MBA in First Division from the Central Department of Management, Tribhuvan University, Kirtipur.

Upadhaya began his professional career in education. From 2049 to 2066 B.S., he worked as a teacher and lecturer at Pioneer Higher Secondary School and Pioneer Multiple Campus. He also served as the BBS Programme Coordinator for around four years. His years in education helped him develop skills in leadership, administration, communication and institutional management, which later became valuable in his banking career.

His transition into banking marked a major turning point. He joined Garima Bikas Bank on Ashwin 6, 2064 B.S., as an officer, around the period when the institution was beginning its operations. Rather than making a rapid transition between institutions, Upadhaya built his career within the same organization, gradually taking on greater responsibilities. He served as Company Secretary, Department Head, Deputy General Manager and Deputy Chief Executive Officer before reaching the position of CEO.

His long association with the bank has given him extensive exposure to banking operations, corporate governance, regulatory compliance, risk management and institutional decision-making. He served as Company Secretary for around 15 years and subsequently worked as Deputy Chief Executive Officer for approximately 11 years. His appointment as CEO, effective from Baisakh 1, 2081 B.S., therefore represented the culmination of nearly two decades of professional experience within the institution.

Upadhaya’s career has developed alongside the growth of Garima Bikas Bank. The bank started operations in 2064 B.S. from Waling, Syangja, with a three-district working area. It later expanded its presence through mergers and acquisitions involving Nilgiri Bikas Bank, Subekshya Bikas Bank and Sahara Bikas Bank. The institution has since developed into a nationally recognized development bank, expanding its branch network and digital banking services.

Under Upadhaya’s leadership, the bank has placed emphasis on service quality, digital transformation, corporate governance, compliance and financial accessibility. The bank has also achieved ISO 9001:2015 certification for its quality management system and ISO 27001:2022 certification for information security management, reflecting its efforts to strengthen service standards and customer information security.

His professional involvement extends beyond Garima Bikas Bank. He has served in various management-level committees in the development banking sector and has held directorships at institutions including Garima Capital Limited, Nepal Clearing House Limited and Adarsha Laghubitta Bittiya Sanstha Limited. He has also participated in national and international programmes and contributed to wider discussions in the development banking sector.

Upadhaya’s journey from teaching to banking leadership demonstrates the value of patience, professional discipline and institutional experience. His rise to the CEO position is a reflection of sustained performance and progressive responsibility, while his career remains closely connected with the transformation of Garima Bikas Bank from a regional institution into a national-level development bank.