Nepal Rastra Bank

The Nepal Rastra Bank was established on April 26, 1956 A.D. (Nepali Date: Baisakh 14, 2013 B.S.) under the Nepal Rastra Bank Act 1955 AD to regulate and systematize domestic financial sector.[3][4] As the central bank of Nepal, it is the monetary, supervisory and regulatory body of all the commercial banks. financial institutions and micro-finances.[5][6] The head office is located in Baluwatar, Kathmandu and it has seven district offices, located at Biratnagar, Janakpur, Birgunj, Pokhara, Siddharthanagar, Nepalgunj, and Dhangadhi.[7]

Nepal Rastra Bank
नेपाल राष्ट्र बैंक
Logo of Nepal Rastra Bank
HeadquartersBaluwatar, Kathmandu
EstablishedApril 26, 1956 (2013, Baisakh 14)
Ownership100% state ownership[1]
GovernorCA Maha Prasad Adhikari[2]
Central bank ofNepal
CurrencyNepali Rupee
NPR (ISO 4217)
Reserves7 910 million USD[1]
Websitewww.nrb.org.np
Nepal Rastra Bank Building

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.[8]

It is a member of the Asian Clearing Union. The incumbent governor of Nepal Rastra Bank is CA Maha Prasad Adhikari while Dr. Gunakar Bhatta is the spokesperson.

Former Governors
S.noGovernerIn office
01Himalaya Shumsher J.B. Rana[9] April 26, 1956 – February 7, 1961
02 Laxmi Nath Gautam[9] February 8, 1961 – June 17,  1965
03 Pradyuma Lal Rajbhandari[9] June 18, 1965 – August 13, 1966
04 Bhekh Bahadur Thapa[9] August 14, 1966 – July 26, 1967
05 Yadav Pant[9] April 24, 1968 – April 28, 1973
06 Kul Shekhar Sharma[9] April 29, 1973 – December 12,  1978
07 Kalyana Bikram Adhikary[9] June 13, 1979 – December 8,  1984
08 Ganesh Bahadur Thapa[9] March 25, 1985 – May 22, 1990
09 Hari Shankar Tripathi[9] August 10, 1990 – January 17,  1995
10 Satyendra Pyara Shrestha[9] January 18, 1995 – January 17,  2000
11 Tilak Bahadur Rawal[9] January 18, 2000 – January 17, 2005
12 Deependra Purush Dhakal[9] August 29, 2000 – April 27,  2001
13 Bijaya Nath Bhattarai[9] January 31, 2005 – January 30, 2010
14 Deependra Bahadur Kshetry[9] January 15, 2009 – July 26, 2009
15 Yuba Raj Khatiwada[9] March 22, 2010 – March 19, 2015
16 Chiranjibi Nepal[9][2] March 19, 2015 – April 6, 2020
17 Maha Prasad Adhikari[9][2] April 6, 2020 - present

Board of Directors

As per the Nepal Rastra Bank Act, 2002, Nepal Rastra Bank Board of Directors has seven members. The governor of Nepal Rastra bank Chair the Board of Directors. The Governor, Deputy Governors and other Directors are appointed by Government of Nepal, Council of Ministers for term of five years. Government may, reappoint the retiring Governor for another one term and the retiring other Directors for any term, if it is deemed necessary. [10]

S.noNamePositionMember Since[11]
01Mr. Maha Prasad Adhikari (Governor)ChairmanApril 6, 2020
02Mr. Sishir Kumar Dhungana (Secretary, Ministry of Finance)MemberFebruary 13, 2020
03Mr. Chinta Mani Siwakoti (Deputy Governor)MemberMarch 2, 2016
04Mr. Shiba Raj Shrestha (Deputy Governor)MemberMarch 2, 2016
05Dr. Sri Ram PoudyalMemberApril 16, 2017
06Mr. Ramjee RegmiMemberApril 16, 2017
07Dr. Suvod Kumar KarnMemberApril 24, 2018

Board Committees

Management Committee
Governor Chairman
Deputy Governor Member
Deputy Governor Member
Senior Officer

(Designated by Governor)

 Member Secretary

Audit Committee
One of the Board Directors Convernor
External Expert nominated by Board Member
Chief of Internal Audit Department of the Bank Member Secretary

References
  1. https://d-nb.info/1138787981/34
  2. "Maha Prasad Adhikari appointed new governor of NRB". The Himalayan Times. April 6, 2020.
  3. "Nepal Rastra Bank Act, 2058 (2002)". Nepal Law Commission. Retrieved July 21, 2019.
  4. "Nepal Rastra Bank - Central Bank of Nepal". www.nrb.org.np. Retrieved July 21, 2019.
  5. "NRB to tighten loans on vehicle import". The Himalayan Times. June 15, 2019. Retrieved July 21, 2019.
  6. "Nepal Rastra Bank Approves 8 Companies to Start Digital Wallet Service". newbusinessage.com. Retrieved July 21, 2019.
  7. "Nepal Rastra Bank". OnlineKhabar. Retrieved July 21, 2019.
  8. "Central bank sets maximum interest rate spread at 4.5pc". kathmandupost.com. Retrieved July 21, 2019.
  9. "Nepal Rastra Bank - Central Bank of Nepal". www.nrb.org.np.
  10. https://www.nrb.org.np/bod/
  11. https://www.nrb.org.np/bod/
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