Nepal Rastra Bank

Nepal Rastra Bank (NRB) was established in 1956 AD as a central Bank of Nepal. It is located in Baluwatar, Kathmandu, Nepal. It was established under the Nepal Rastra Bank Act, 1955, to discharge the central-banking responsibilities including guiding the development of the embryonic domestic financial-sector. Since establishment, there has been a significant growth in both the number and the activities of the financial institutions in Nepal.

To reflect this dynamic environment, the functions and objectives of the Bank have been recast by the new NRB Act of 2002, the preamble of which lays down the primary functions of the Bank as:

• To formulate necessary monetary and foreign exchange policies to maintain the stability in price and consolidate the balance of payments for sustainable development of the economy of Nepal;
• To develop a secure, healthy and efficient system of payments;
• To make appropriate supervision of the banking and financial system in order to maintain its stability and foster its healthy development; and
• To further, enhance public confidence in Nepal's entire banking and financial system.

The Bank is eminently aware that, for the achievement of the above objectives in the present dynamic environment, sustained progress and continued reform of the financial sector is of utmost importance. Continuously aware of this great responsibility, NRB is seriously pursuing various policies, strategies, and actions, all of which are conveyed in the annual report on monetary policy.

Vision

To become “ A modern, dynamic, credible and effective Central Bank”

Mission

To maintain macroeconomic stability through sound and effective monetary, foreign exchange and financial sector policies.

NRB Governors over the years

Source: NRB