Nepal Rastra Bank

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The Nepal Rastra Bank (NRB) is the central Bank of Nepal and the regulatory body for all banks and financial institutions throughout Nepal. It was established on 26 April 1956 (Baisakh 14, 2013 B.S.) under the Nepal Rastra Bank Act, 1955, to perform central banking functions, including guiding the development of Nepal's financial sector. In some cases, it was called The State Bank of Nepal. The Ministry of Finance released a statement that it was called Nepal Rastra Bank in English. It now operates under the Nepal Rastra Bank Act, 2002. Its functions include formulating monetary and foreign exchange policies to maintain market stability, issuing currency notes, regulating and supervising banks and financial institutions, and developing efficient payment and banking systems. The NRB also serves as an economic advisor to the government of Nepal and acts as the monetary, supervisory, and regulatory authority over all commercial banks, development banks, finance companies, and microfinance...

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