KATHMANDU, July 22: Nepal Rastra Bank (NRB) has renamed some of its departments and offices. The central bank changed the name of five departments and designated its offices outside the valley as the provincial offices. The changes of the names have come into effect from this week, according to the NRB notice.

KATHMANDU, July 18: The NRB unveiled its monetary policy for the current fiscal year 2020/21 introducing a number of relief measures for businesses battered by COVID-19. The private sector that has been bearing the brunt of the pandemic had pinned its hope on the monetary policy for revival and recovery.

Energy and agriculture promotion and mergers between banks to get priority

KATHMANDU, July 17: Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari presented the monetary policy for current fiscal year 2020/21 earlier on Friday afternoon.

NRB Governor Adhikari releasing the first monetary policy after his appointment as the head of the central bank

In an interview with Republica’s Sagar Ghimire on Monday, Governor Adhikari discussed the focus of the upcoming monetary policy, plans to provide relief and other facilities to businesses battered by the pandemic, efforts to lower interest rates and measures to safeguard financial stability during the crisis, among others.

Adhikari is new NRB Governor

April 7, 2020 04:05 am

KATHMANDU, April 7: The government has appointed Maha Prasad Adhikari, who is currently the CEO of the Investment Board of Nepal, as the 17th governor of the Nepal Rastra Bank (NRB).

KATHMANDU, March 30: Nepal Rastra Bank (NRB) has introduced a number of relief measures aimed at providing relaxation on repayment of loans for businesses and individuals impacted by the Covid-19, ease liquidity in the banking system and promote electronic transactions and payment.

KATHMANDU, March 26: Nepal Rastra Bank (NRB) has issued a nine-point circular to all bank and financial institutions (BFIs) outlining service measures that they have to embrace in the wake of the lockdown imposed by the government to combat the COVID-19 pandemic.

KATHMANDU, March 23: Issuing a circular on Sunday, the Nepal Rastra Bank (NRB), has asked all types of banks and financial institutions (BFIs) to continue with the banking services with necessary precautions. “As the government has defined banking business under the very essential services, the central bank has sought the BFIs to carry on with their services as usual,” said Gunakar Bhatta, spokesperson of the NRB.

KATHMANDU, March 21: Nearly a month has elapsed since the Department of Money Laundering Investigation (DMLI) forwarded a letter to Nepal Rastra Bank (NRB) to take immediate action to stop the sale of Silver Heritage Group owned Tiger Palace Resort, the apex bank has not taken any decisions on the issue, rising fear that the millions of dollar to be siphoned off from the country.

KATHMANDU, March 21: As the race for the post of the governor of Nepal Rastra Bank (NRB) intensifies, Lal Shankar Ghimire is emerging as the dark horse candidate. Sources within the prime minister's office say Ghimire is Prime Minister Khadga Prasad Oli's favorite candidate.

KATHMANDU, March 13: Business firms can now get loans of up to Rs 5 million from banks without submitting a tax clearance certificate. Likewise, the first-time-home buyers are also allowed to get loans even without having the tax clearance certificate.

KATHMANDU, March 12: Nabil Bank Limited has been found to be engaged in an ‘illegal practice’ in recovering loans from its borrowers.

Lagging in digitalization

March 12, 2020 09:11 am

Few weeks back, Nepal Rastra Bank (NRB) announced that it will take serious action against those who receive or make international payments through social media platforms. Considering these transactions to be illegal, NRB has said that any such activities would be treated as foreign currency embezzlement for which the action would be taken under the Foreign Exchange Act (2019).

KATHMANDU, March 6: Nepal Rastra Bank (NRB) has allowed commercial banks to accept gold as interest-earning deposit which is expected to inject more cash into the market as well as help the banks to maintain their obligation for liquid assets.

KATHMANDU, Mar 4: The Nepal Rastra Bank (NRB) has softened its lending limit for first-time homebuyers giving respite to the manufacturers of construction materials that have been running in under capacity.

KATHMANDU, Feb 17:  Mega Bank Ltd has signed an agreement to utilize Rs 2 billion in commercial loan from Doha bank.

KATHMANDU, Feb 6: The Commission for the Investigation of Abuse of Authority (CIAA) has decided to ask the Nepal Rastra Bank (NRB) to investigate into the loans issued by various banks and financial institutions (BFIs) against the collateral of public, government and Guthi lands of Lalita Niwas that were ‘illegally’ captured by several powerful people.

KATHMANDU, Feb 1: Nepal Rastra Bank (NRB) has announced that it will take action against those making or receiving international payments for advertisements on the internet and in social media like Facebook, Twitter and YouTube as well as online portals.

KATHMANDU, Jan 23: The government objective of reaching access of commercial banks to all local levels across the country is close to materialization. According to a Nepal Rastra Bank (NRB) report, only 10 local levels are without a bank.

Inflation jumps to 6.33%

January 20, 2020 10:35 am

KATHMANDU, Jan 20: Consumer inflation stood at 6.55% in mid-December mainly due to soaring prices of food and beverages.

KATHMANDU, Jan 15: The number of reports on suspicious transactions that the Financial Information Unit (FIU) under  Nepal Rastra Bank  received in  fiscal year 2018/19 has jumped by 52 percent to 1,351.

KATHMANDU, Jan 3: Nepal Rastra Bank (NRB) has raised the daily limit of cash withdrawal from bank ATMs.

KATHMANDU, Nov 24: The recent controls imposed by the Nepal Rastra Bank (NRB) on the foreign exchange limit for outbound Nepali citizens has caused a sharp decline in the spending they make in overseas travel and tour. According to the recent data released by the NRB, the spending that outbound Nepalis make in international travel fell by 28.1% in the first three months of the current Fiscal Year 2019/20.

KATHMANDU, Nov 11: With the Nepal Rastra Bank (NRB) halting foreign exchange facility to various businesses since the past few months, many firms, especially those with foreign investments, are facing difficulty in making payments to their suppliers for the purchase, repair or renewal of their software programs bought from international companies.

KATHMANDU, Nov 8: Friday marks the third anniversary of India's sudden announcement to demonetize banknotes of IRs 1,000 and 500 denominations.

KATHMANDU, Nov 4: The government has instructed Nepal Rastra Bank (NRB) to start an inquiry into Shiba Raj Shrestha, a deputy governor of the central bank, accusing him of ‘working in a way that threatens the financial stability’ of the country.

KATHMANDU, Nov 3: There is good news to cheer first-time home buyers up: Nepal Rastra Bank (NRB) has restricted bank and financial institutions (BFIs) from raising the monthly repayment installment for home loans provided to such borrowers.

KATHMANDU, Oct 24: Nepal Rastra Bank (NRB) has sought details of loan exposure of Prime Commercial Bank Ltd to Tiger Palace Resort owned and operated by Silver Heritage Group Ltd which has been accused of encroaching public land to build structures for the resort.

KATHMANDU, Oct 24: The number of mobile banking users has increased by over 4.5 times in the past four years. According to a report recently published by Nepal Rastra Bank – Situation of Access to Finance in Nepal 2019 – the number of mobile banking users has gone up from 1.75 million to 8.35 million.

61 percent Nepalis have bank accounts

October 17, 2019 09:22 am

KATHMANDU, Oct 17: At least 61% of Nepali citizens have bank accounts, according to a financial report recently released by Nepal Rastra Bank, the central bank of Nepal.

KATHMANDU, Sept 20: Nepal Rastra Bank (NRB) is providing exchange facility for crisp banknotes for the Dashain festival from September 27.

Nepal Rastra Bank (NRB) in association with Lalitpur Metropolitan Office unveiled three new coins honoring cultural expert Satya Mohan Joshi who turned 100 this May.

KATHMANDU, Sept 11: Nepal Rastra Bank (NRB) has issued a three-point directive to bank and financial institutions (BFIs) for addressing and managing internal and external risks in use of information technology (IT).

KATHMANDU, Sept 6: Nepal Rastra Bank (NRB) has lowered the maximum limit for cash withdrawal using debit card.

KATHMANDU, Sept 2: Saturday night’s ATM jackpotting has exposed the cyber-security vulnerabilities of the Nepali banking sector.

KATHMANDU, Sept 1: Most of the private banks, which closed down their ATM services citing hacking threats, have now resumed their services.

KATHMANDU, Aug 17: Nepal Rastra Bank (NRB) is unlikely to revisit its recent circular that contains, among others, rule on the revision of interest rates spread calculation method at least until the first quarter of the current fiscal year 2019/20.

Cellpay launched

August 1, 2019 07:43 am

KATHMANDU, Aug 1: Cellcom Pvt Ltd has started operation of payment service named Cellpay. Issuing a statement, the company, which is licensed by the Nepal Rastra Bank to work as a payment service provider, said that Cellpay can easily be operated with its mobile and web application without any e-wallet.

KATHMANDU, July 29: Almost all the commercial banks in the country are found ignoring Nepal Rastra Bank (NRB)'s request to compulsorily increase the investment in the agriculture sector to 10 percent.

KATHMANDU, July 25: Nepal Rastra Bank (NRB) has announced a number of incentives and facilities for bank and financial institutions (BFIs) pursuing merger in a bid to promote consolidation in banking sector.

KATHMANDU, July 24: Entrepreneurs have reacted to the monetary policy unveiled by the country’s central bank Nepal Rastra Bank(NRB) on Wednesday differently.

KATHMANDU, July 24: UnionPay International Company Ltd, a Chinese payment service company, has acquired license from the Nepal Rastra Bank (NRB) to work as payment system operator in Nepal.

KATHMANDU, July 17: Nepal Rastra Bank (NRB) is offloading its shares in Nepal Stock Exchange Ltd (Nepse). Issuing a notice on Tuesday, the central bank said that it was divesting its stake in the country’s only stock exchange company.

Relocating Nepal Rastra Bank

July 16, 2019 01:00 am

Relocating NRB away from Kathmandu will be crucial in ushering many transformative changes in Nepali economy. It will help keep politics and finance separate from each other

KATHMANDU, July 11: The average capacity utilization of Nepali factories has reached 60% over the first six months of the current fiscal year – FY2018/19, according to the latest study of economic activities of the country released by Nepal Rastra Bank (NRB) on Wednesday.

KATHMANDU, July 9: Private sector leaders have advised the Nepal Rastra Bank (NRB) to bring the monetary policy for the upcoming fiscal year – FY2019/20 with a focus on maintaining the interest rates stability.

KATHMANDU, June 22: Securities Board of Nepal (Sebon) has introduced new guidelines on anti-money laundering that, among others, list out five dozen transactions of companies in the securities and commodities market that should be notified to the Financial Information Unit (FIU) of the Nepal Rastra Bank (NRB) as suspicious transactions.

KATHMANDU, June 19: Development Bankers Association Nepal (DBAN) has urged the Nepal Rastra Bank (NRB) to allow 'B' class development banks to deduct loans floated to agriculture sector in excess to the regulatory requirement in the credit to core capital plus deposit (CCD) ratio.