Nepal Rastra Bank

Nepal Rastra Bank
नेपाल राष्ट्र बैंक
Seal of the Nepal Rastra Bank
Seal of the NRB
HeadquartersKathmandu, Nepal
EstablishedBaisakh 14, 2013 B.S. (April 26, 1956; 68 years ago (1956-04-26))
Ownership100% state ownership by Ministry of Finance, Government of Nepal[1]
Governor
Deputy Governor		Maha Prasad Adhikari[2]
Dr. Neelam Dhungana Timsina
Bam Bahadur Mishra [3]
Central bank of   Nepal
CurrencyNepalese rupee
NPR (ISO 4217)
Reserves7,910 million USD[1]
Websitewww.nrb.org.np

The Nepal Rastra Bank (NRB; Nepali: नेपाल राष्ट्र बैंक) was established on April 26, 1956 A.D. (Nepali Date: Baisakh 14, 2013 B.S.) under the Nepal Rastra Bank Act, 1955, to discharge the central banking responsibilities including guiding the development of the embryonic domestic financial sector. The NRB is functioning under the new Nepal Rastra Bank Act, 2002. The functions of NRB are to formulate required monetary and foreign exchange policies so as to maintain the stability in market prices, to issue currency notes, to regulate and supervise the banking and financial sector, to develop efficient payment and banking systems among others. The NRB is also the economic advisor to the government of Nepal. As the central bank of Nepal, it is the monetary, supervisory and regulatory body of all the commercial banks. development banks, finance companies and micro-finances institutions.[4][5]

The central office is located in Baluwatar, Kathmandu and it has eight provincial offices, located at Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthanagar, Nepalgunj, Surkhet and Dhangadhi.[6]

NRB formulates and implements monetary policy.[7] Nepal Rastra Bank also oversees foreign exchange rates and the country's foreign exchange reserves. The NRB is one of the principal owners of the Nepal Stock Exchange.[8]

It is a member of the Asian Clearing Union. The incumbent governor of Nepal Rastra Bank is CA[9] Maha Prasad Adhikari while Dr. Gunakar Bhatta is the spokesperson.

  1. ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ Cite error: The named reference auto was invoked but never defined (see the help page).
  3. ^ "Board Members – नेपाल राष्ट्र बैंक".
  4. ^ "NRB to tighten loans on vehicle import". The Himalayan Times. June 15, 2019. Retrieved July 21, 2019.
  5. ^ "Nepal Rastra Bank Approves 8 Companies to Start Digital Wallet Service". newbusinessage.com. Retrieved July 21, 2019.
  6. ^ "Nepal Rastra Bank". OnlineKhabar. Retrieved July 21, 2019.
  7. ^ "5 Highlights of Monetary Policy of Nepal 2080/81 for Technology Sector". TechSathi.com. July 24, 2023.
  8. ^ "Central bank sets maximum interest rate spread at 4.5pc". kathmandupost.com. Retrieved July 21, 2019.
  9. ^ "Maha Prasad Adhikari appointed governor of Nepal Rastra Bank". kathmandupost.com.