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Nepal Rastra bank (NRB) – Everything You Need To Know

Nepal Rastra Bank (central bank of Nepal) was established on April 26, 1956 (2013 Baishak 14 B.S) under the Nepal Rastra Bank Act 1955.  Nepal Rastra Bank is the monetary, regulatory, and supervisory authority of banks and financial institutions.

Key objectives of the Nepal Rastra Bank are:

  • To achieve price and balance of payments stability.
  • To manage liquidity and ensure financial stability.
  • To develop a sound payments system, and promote financial services.

Vision: To become ” A modem, dynamic, credible and effective Central Bank”

Mission: To maintain macro-economic stability through sound and effective monetary, foreign exchange and financial sector policies

Function of Nepal Rastra Bank

According to Nepal Rastra Bank  Act 2002 (2058)

  • To issue banknotes and coins
  • To formulate necessary monetary policies in order to maintain price stability
  • To formulate foreign exchange policies
  • To determine the system of foreign exchange rate
  • To manage and operate foreign exchange reserve
  • To issue license to commercial banks and financial institutions to carry on banking and financial business
  • To regulate, inspect, supervise and monitor banking and financial transactions
  • To act as a banker, advisor, and financial agent of the Government of Nepal
  • To act as the lender of the last resort
  • To establish and promote the system of payment, clearing, and settlement and to regulate these activities
  • To operate open market transaction through necessary instruments for liquidity management

NRB Governors over the years

S.N.Name of Governor Term of office
1.MR. Himalaya Shumsher J.B. RanaApril 26, 1956 — February 7, 1961
2.Mr. Laxmi Nath GautamFebruary 8, 1961 — June 17, 1965
3.Mr.Pradyuma Lal RajbhandariJune 18,1965 — August 13, 1966
4.Dr. Bhekh Bahadur ThapaAugust 14, 1966 — July 26, 1967
5.Dr. Yadav Prasad PantApril 24, 1968 — April 28, 1973
6.Mr. Kul Shekhar SharmaApril 29, 1973 — December 12, 1978
7.Mr. Kalyana Bikram AdhikaryJune 13, 1979 — December 8, 1984
8.Mr. Ganesh Bahadur ThapaMarch 25, 1985 — May 22, 1990
9Mr. Hari Shankar TripathiAugust 10, 1990 — January 17, 1995
10.Mr. Satyendra Pyara ShresthaJanuary 18, 1995 — January 17, 2000
11.Dr. Tilak Bahadur RawalJanuary 18, 2000 – January 17, 2005
12.Mr. Deependra Punish DhakalAugust 29, 2000 —April 27, 2001
13.Mr. Bijaya Nath BhattaraiJanuary 31, 2005 —January 30, 2010
14.Mr. Deependra Bahadur KshetryJanuary 15, 2009 — July 26, 2009
15.Dr. Yuba Raj KhatiwadaMarch 22, 2010 – March 19, 2015
16.Dr. Chiraniibi NepalMarch 19. 2015 – Present

Board of Directors

According to Nepal Rastra Bank Act (2002) section 14, the Board of Nepal Rastra Bank comprises of seven members:

Governor -Chairperson

Secretary, Ministry of Finance –Member

Two Deputy Governors -Member

Three Directors: Appointed by the Government of Nepal from amongst the persons renowned in the fields of Economic, Monitory, Banking Finance and Commercial Law

Nepal Rastra Bank Management Committee

Deputy GovernorMember
Deputy GovernorMember
Senior Officer (Designated by the Governor)Member Secretary
The Governor may invite any of the officers to take part in the meeting of the Management Committee

Nepal Rastra Bank Audit Committee

One of the Board DirectorsConvener
External Expert nominated by the boardMember
 Chief of Internal Audit Department of the BankMember Secretary

Departments, Divisions and Units in NRB

S.N.Departments in NRB
1.Research Department
2.Banks and Financial Inst. Regulation Dept.
3.Foreign Exchange Management Dept.
4.Currency Management Dept.
5.Financial Management Dept.
6.Human Resources Management Dept.
7.Internal Audit Dept.
8.General Services Dept.
9.Public Debt Management Dept.
10.Micro-Finance Promotion & Supervision Dept.
11.Bank Supervision Dept.
12.Development Bank Supervision Dept.
13.Finance Company Supervision Dept.
14.Information Technology Dept.
15.Corporate Planning Dept.
16.Payment Systems Dept.


  1. Legal Division
  2. Problem Bank Resolution Division


  1. Financial Information Unit

District Offices:

  1. NRB, Pokhara
  2. NRB, Janakpur
  3. NRB, Nepalgunj
  4. NRB, Biratnagar
  5. NRB, Siddharthanagar
  6. NRB, Birgunj
  7. NRB, Dhangadhi

Various Important Acts of Nepal Rastra bank

1.Payment and Settlement Act 2019 (2075) -New
2.Bank and Financial Institution Act 2073 (2017) -New
3.Nepal Rastra Bank Act 2002 (2058) Second Amendment-2073-07-29
4.Banking Offence and Punishment Act 2008 (2064) First Amendment- 2073-06-18
5.Asset (Money) Laundering Prevention Act, 2008 (2064) Second Amendment-2070-12-12
6.Foreign Exchange(Regulation) Act 2019
7.Bank and Financial Institution Credit Recovery Act 2002 (2058)
8.Company Act 2063
9.Secured Transaction Act,2063
Important Directives:– Unified Directive 2076-New For License Institution of Class A, B, and C

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