Nepal Rastra Bank
The Nepal Rastra Bank (NRB; Nepali: नेपाल राष्ट्र बैंक) was established 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. As of now, 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.
Seal of the NRB | |
| Headquarters | Kathmandu, Nepal |
|---|---|
| Established | Baisakh 14, 2013 B.S. (April 26, 1956) |
| Ownership | 100% state ownership by Ministry of Finance, Government of Nepal |
| Governor Deputy Governor | Maha Prasad Adhikari Dr. Neelam Dhungana Timsina Mr. Bam Bahadur Mishra |
| Central bank of | Nepal |
| Currency | Nepalese rupee NPR (ISO 4217) |
| Reserves | 7 910 million USD |
| Website | www |
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.
NRB formulates and implements monetary policy. 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.
It is a member of the Asian Clearing Union. The incumbent governor of Nepal Rastra Bank is CA Maha Prasad Adhikari while Dr. Gunakar Bhatta is the spokesperson.