Nepal Rastra Bank
| |||
| 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 | ||
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.
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. 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.
Regional offices
It has seven regional offices, located at Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthanagar, Nepalgunj, and Dhangadhi.[5]
Governors of Nepal Rastra Bank
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]
| No. | Name of Khajanchees | Term of office |
|---|---|---|
| 1. | Shri Omprakash Shukla | From 1944 to 1951 |
| 2. | Bharat Raj Pandit | until 22 January 1952 |
| 3. | Amarnath Mishra | 22 January 1952 – 25 April 1956 |
| 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. | Om Prakash Shukla | 29 April 1973 – 12 December 1978 |
| vacant | 13 December 1978 – 12 June 1979 | |
| 7. | Om Prakash Shukla | 13 June 1979 – 8 December 1984 |
| vacant | 9 December 1984 – 24 March 1985 | |
| 8. | Ganesh Bahadur Thapa | 25 March 1985 – 22 June 1990 |
| vacant | 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[lower-alpha 1] | 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 | 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 Directors
The Governor of Nepal Rastra Bank late shri Om prakash shukla also 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]Om Prakash Shukla belongs to Uttarakhand (India) after completing his teasure he was awarded with highest civilian award of Nepal (Nepal rashtravakra puraskar )and at age of 83 he died on 25 february 2002
Current Board of Directors
| Chiranjivi Nepal | Governor and Chairman | since 22 March 2015 |
| Rajan Khanal | Secretary at the Ministry of Finance | since 9 April 2018 |
| 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 |
| Subodh Kumar Karna | Member | since 24 April 2018 |
Notes
- ↑ Acting Governor of Nepal Rastra Bank who signed on note.
References
- ↑ Nepal Rastra Bank (July 2005), "Nepal Rastra Bank in 50 years"
- ↑ http://www.neupanelegal.com/details.php?action=details&id=MjY=
- ↑ "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-23.
- ↑
- ↑ "District Offices". Nepal Rastra Bank. Retrieved 1 June 2018.
- 1 2 "Notes and Coins of Nepal" (PDF). Nepal Rastra Bank. Retrieved 1 June 2018.
- ↑ "Introduction". Nepal Rastra Bank. Retrieved 1 June 2018.
- ↑ "Board of Directors". Nepal Rastra Bank. Retrieved 1 June 2018.