Nepal Rastra Bank (Central Bank of Nepal)

Introduction

Nepal Rastra Bank

Nepal Rastra Bank (NRB), the Central Bank of Nepal, 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.
To reflect this dynamic environment, the functions and objectives of the Bank have been recast by the new NRB Act of 2002, the preamble of which lays down the primary functions of the Bank as:

• to formulate necessary monetary and foreign exchange policies to maintain the stability in price and consolidate the balance of payments for sustainable development of the economy of Nepal;
• to develop a secure, healthy and efficient system of payments;
• to make appropriate supervision of the banking and financial system in order to maintain its stability and foster its healthy development; and
• to further enhance the public confidence in Nepal's entire banking and financial system.

The Bank is eminently aware that, for the achievement of the above objectives in the present dynamic environment, sustained progress and continued reform of the financial sector is of utmost importance. Continuously aware of this great responsibility, NRB is seriously pursuing various policies, strategies and actions, all of which are conveyed in the annual report on monetary policy.

Vision

To become “ A modern, dynamic, credible and effective Central Bank”

Mission

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

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NRB Governors over the years

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S.N.	Name of Governor	Term of office
1.	Mr. Himalaya Shumsher J.B. Rana	April 26, 1956 – February 7, 1961
2.	Mr. Laxmi Nath Gautam	February 8, l961 – June 17, l965
3.	Mr. Pradyuma Lal Rajbhandari	June l8, l965 – August 13, l966
4.	Dr. Bhekh Bahadur Thapa	August 14, l966 – July 26, l967
5.	Dr. Yadav Prasad Pant	April 24, l968 – April 28, l973
6.	Mr. Kul Shekhar Sharma	April 29, l973 – December 12, l978
7.	Mr. Kalyana Bikram Adhikary	June 13, l979 – December 8, l984
8.	Mr. Ganesh Bahadur Thapa	March 25, l985 – May 22, l990
9.	Mr. Hari Shankar Tripathi	August 10, l990 – January 17, l995
10.	Mr. Satyendra Pyara Shrestha	January l8, l995 – January l7, 2000
11.	Dr. Tilak Bahadur Rawal	January l8, 2000 - January l7, 2005
12.	Mr. Deependra Purush Dhakal	August 29, 2000 – April 27, 2001
13.	Mr. Bijaya Nath Bhattarai	January 31, 2005 –January 30, 2010
14.	Mr. Deependra Bahadur Kshetry	January 15, 2009 – July 26, 2009
15.	Dr. Yuba Raj Khatiwada	March 22, 2010 - March 19, 2015
16.	Dr. Chiranjibi Nepal	March 19, 2015 - April 06, 2020
17.	Maha Prasad Adhikari	April 06, 2020 - Present

Src: Nepal Rastra Bank