About Central Bank of Nepal (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 establishment, there has been significant growth in both the number and the activities of the domestic financial institutions in the country.
To reflect this dynamic environment, the functions and objectives of the Bank have been re-casted by the new Nepal Rastra Bank Act, 2058 (2002), which lays down the objectives of the Bank as:
To formulate necessary monetary and foreign exchange policies in order to maintain the stability of price and balance of payment for economic stability and sustainable development of economy, and manage it; … Continue reading about Central Bank of Nepal (Nepal Rastra Bank) here.