Banking Exam Question - What are the Nepal Rastra Bank's Mission, Vision, Function & Objectives? Explain

Introduction - Nepal Rastra Bank

Nepal Rastra Bank (NRB), the Central Bank of Nepal, was built up in 1956 under the Nepal Rastra Bank Act, 1955, to release the focal saving money obligations including directing the advancement of the embryonic local budgetary area. Since initiation, there has been a critical development in both the number and the exercises of the local monetary organizations.

To reflect this dynamic condition, the capacities and destinations of the Bank have been recast by the new NRB Act of 2002, the preface of which sets out the essential elements of the Bank as: 

• to define essential money related and remote trade approaches to keep up the steadiness in cost and merge the adjust of installments for practical improvement of the economy of Nepal; 
• to build up a protected, sound and proficient arrangement of installments; 
• to influence proper supervision of the saving money and budgetary framework with a specific end goal to keep up its solidness and cultivate its sound improvement; and 
• to additionally improve people in general trust in Nepal's whole saving money and budgetary framework. 

The Bank is prominently mindful that, for the accomplishment of the above targets in the present dynamic condition, maintained advance and proceeded with change of the money related area is of most extreme significance. Constantly mindful of this awesome obligation, NRB is truly seeking after different arrangements, procedures and activities, which are all passed on in the yearly investigate money related approach. 

Vision 

• To end up " A cutting edge, dynamic, tenable and viable Central Bank" 

Mission 

• To keep up large scale monetary strength through sound and viable fiscal, outside trade and money related segment arrangements.