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Nepal Rastra Bank (Nepali: नेपाल राष्ट्र बैंक; abbreviated as NRB) is the central bank of Nepal and was established on 26 April 1956.[1] It supervises the banks and financial institutions (licensed by the Bank) in Nepal and guides monetary policy.[2] Nepal Rastra Bank also oversees foreign exchange rates and the country's foreign exchange reserves and regulates the foreign exchange policy. The bank is one of the principal owners of the Nepal Stock Exchange.

Nepal Rastra Bank
नेपाल राष्ट्र बैंक
Seal of the Nepal Rastra Bank.jpg
Rastrabank.JPG
Headquarters Baluwatar, Kathmandu
Established April 26, 1956
Governor Dr. Chiranjivi Nepal
Central bank of Nepal
Currency Nepali rupee
NPR (ISO 4217)
Website www.nrb.org.np

The bank is engaged in the promotion of financial inclusion policy within the nation, and is also a member of the Alliance for Financial Inclusion.[3] It made a Maya Declaration Commitment in 2013 to promote financial literacy, prepare a financial sector development strategy by the end of 2014, and improve mobile money services.[4]

It is also a member of the Asian Clearing Union.

Nepal Rastra Bank 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.[citation needed] Its main aims include formulating monetary and foreign exchange policies, maintain Price stability, supervising Nepal's banking system and issuing and controlling of Nepalese currency.

Contents

Regional officesEdit

 
Buildings of the bank in Janakpur

It has seven regional offices, located at Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthanagar, Nepalgunj, and Dhangadhi.[5]

Governors of Nepal Rastra BankEdit

The Governor of the Central Bank of Nepal Rastra Bank functions as the chief executive of the central bank of Nepal. Prior to its establishment, the responsibilities of the central bank (mainly issuing of currency) were held by the Central Treasury of Nepal, Sadar Muluki Khana from September 1945 to February 1960.[6]

List of Sadar Muluki Khanas[6]
No. Name of Khajanchees Term of office
1. Janak Raj Pandit
2. Bharat Raj Pandit until 22 January 1952
3. Narendra Raj Pandit 22 January 1952 – 25 April 1956
List of Governors of Nepal Rastra Bank[7]
No. Name of Governor Term of office
1. Himalaya Shamsher J.B. Rana 26 April 1956 – 7 February 1961
2. Laxmi Nath Gautam 8 February 1961 – 17 June 1965
3. Pradyuma Lal Rajbhandari 18 June 1965 – 13 August 1966
4. Bhekh Bahadur Thapa 14 August 1966 – 26 July 1967
5. Yadav Prasad Pant 24 April 1968 – 28 April 1973
6. Kul Shekhar Sharma 29 April 1973 – 12 December 1978
vacant[citation needed] 13 December 1978 – 12 June 1979
7. Kalyana Bikram Adhikary 13 June 1979 – 8 December 1984
vacant[citation needed] 9 December 1984 – 24 March 1985
8. Ganesh Bahadur Thapa 25 March 1985 – 22 June 1990
vacant[citation needed] 23 June 1990 – 9 August 1990
9. Hari Shankar Tripathi 10 August 1990 – 17 January 1995
10. Satyendra Pyara Shrestha 18 January 1995 – 17 January 2000
11. Tilak Bahadur Rawal 31 January 2000 – 28 August 2000
12. Deependra Purush Dhakal August 29, 2000 – April 8, 2001
(11.) Tilak Bahadur Rawal 9 April 2001 – 17 January 2005
13. Bijaya Nath Bhattarai 18 January 2005 – 15 January 2009
Krishna Bahadur Manandhar[a] 5 July 2007 - 15 January 2009
14. Deependra Bahadur Kshetry January 16, 2009 – July 26, 2009
(13.) Bijaya Nath Bhattarai 26 July 2009 – 30 January 2010
vacant[citation needed] 31 January 2010 – March 21, 2010
15. Yuba Raj Khatiwada 22 March 2010 – 19 March 2015
16. Chiranjivi Nepal since 20 March 2015


Board of DirectorsEdit

The Governor of Nepal Rastra Bank chairs the Board of Directors, composed of a Secretary of the Ministry of Finance, two deputy Governors, and three other members with background in Economics, Monetary, Banking, Finance and Commercial Laws. All are appointed by the Government of Nepal for a tenure of five years.[8]

Current Board of DirectorsEdit

Chiranjivi Nepal Governor and Chairman since 22 March 2015
Shanta Raj Subedi Secretary at the Ministry of Finance since 8 September 2016
Chinta Mani Siwakoti Deputy Governor since 2 March 2016
Shiba Raj Shrestha Deputy Governor since 2 March 2016
Sri Ram Poudyal Member since 16 April 2017
Ramjee Regmi Member since 16 April 2017
Bal Krishna Man Singh Member since 15 February 2013

NotesEdit

  1. ^ Acting Governor of Nepal Rastra Bank who signed on note.[citation needed]

ReferencesEdit

  1. ^ Nepal Rastra Bank (July 2005), "Nepal Rastra Bank in 50 years"
  2. ^ http://www.neupanelegal.com/details.php?action=details&id=MjY=
  3. ^ "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-23. 
  4. ^ [1]
  5. ^ "District Offices". Nepal Rastra Bank. Retrieved 1 June 2018. 
  6. ^ a b "Notes and Coins of Nepal" (PDF). Nepal Rastra Bank. Retrieved 1 June 2018. 
  7. ^ "Introduction". Nepal Rastra Bank. Retrieved 1 June 2018. 
  8. ^ "Board of Directors". Nepal Rastra Bank. Retrieved 1 June 2018. 

External linksEdit