- Nepal Rastra Bank
Nepal Rastra Bank
नेपाल राष्ट्र बैंक
Buildings of the bank in Janakpur. Headquarters Baluwatar Kathmandu Established 1956 Central bank of Nepal Currency Nepali rupee ISO 4217 Code NPR Website www.nrb.org.np
It supervises the commercial banks in Nepal and guides monetary policy. Nepal Rastra Bank also oversees foreign exchange rates and the country's foreign exchange reserves. The bank is one of the principal owners of the Nepal Stock Exchange.
It is a member of the Asian Clearing Union.
Nepal Rastra Bank, the Central Bank of Nepal, was established in 1956 under the Nepal Rastra Bank Act, 1955, to discharge the central banking responsibilities including guiding the development of the embryonic domestic financial sector. Since inception, there has been a significant growth in both the number and the activities of the domestic financial institutions.
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 the 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.
To become "A modern, dynamic, credible and effective Central Bank".
To maintain macro-economic stability through sound and effective monetary, foreign exchange and financial sector policies.
NRB Governors over the years
NRB Governors over the years No. Name of Governor Term of office 1. Mr. Himalaya Shumsher J.B. Rana April 26, 1956 – February 7, 1961 2. Mr. Laxmi Nath Gautam February 8, l961 – June 17, l965 3. Mr. Pradyuma Lal Rajbhandari June l8, l965 – August 13, l966 4. Dr. Bhekh Bahadur Thapa August 14, l966 – July 26, l967 5. Dr. Yadav Prasad Pant April 24, l968 – April 28, l973 6. Mr. Kul Shekhar Sharma April 29, l973 – December 12, l978 7. Mr. Kalyana Bikram Adhikary June 13, l979 – December 8, l984 8. Mr. Ganesh Bahadur Thapa March 25, l985 – May 22, l990 9. Mr. Hari Shankar Tripathi August 10, l990 – January 17, l995 10. Mr. Satyendra Pyara Shrestha January l8, l995 – January l7, 2000 11. Dr. Tilak Bahadur Rawal January l8, 2000 - January l7, 2005 12. Mr. Deependra Purush Dhakal August 29, 2000 – April 27, 2001 13. Mr. Bijaya Nath Bhattarai January 31, 2005 –January 30, 2010 14. Mr. Deependra Bahadur Kshetry January 15, 2009 – July 26, 2009 15. Dr. Yuba Raj Khatiwada March 22, 2010 - present
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