What is Nepal Rastra Bank (NRB)? Nepal Rastra Bank (NRB) Review, Features

Nepal Rastra Bank (NRB) is the central bank of Nepal and performs the duties of a central bank, including guiding the development of the domestic financial sector.

About Nepal Rakyat Bank (NRB)

Nepal Rastra Bank (NRB) is the central bank of Nepal and was established in 1956 under the Nepal Rastra Bank Act, 1955 to perform the duties of a central bank, including guiding the development of the budding domestic financial sector. Since its establishment, the country has seen a considerable growth in the number and activities of domestic financial institutions.

Our vision is to be "a modern, dynamic, credible and effective central bank";

Our mission is to maintain macroeconomic stability through sound and effective monetary, foreign exchange and financial sector policies.

Target

To reflect this dynamic environment, the new Nepal Rural Bank Act (2058) has recast the bank’s functions and objectives, which stipulates that the bank’s objectives are:

1. Formulate and manage the necessary monetary and foreign exchange policies to maintain price stability and balance of international payments, promote economic stability and sustainable economic development;

2. To enhance public confidence in the banking and financial system by maintaining the stability of the banking and financial sectors and increasing access to financial services;

3. Establish a safe, healthy and efficient payment system.

In order to achieve the above objectives in the current dynamic environment, the NRB is pursuing continuous progress, with continued reforms in the financial sector being of utmost importance. In this regard, the National Bank is pursuing various policies, strategies and actions, all of which are reflected in the Bank’s annual monetary policy.