Nepal Rastra Bank

What Nepal Rastra Bank does

Nepal Rastra Bank (NRB) is the central bank of Nepal, established in 1955 and headquartered at Baluwatar, Kathmandu. As Nepal's sole monetary authority, NRB formulates and implements monetary policy, issues currency, manages foreign exchange reserves, and regulates banks and financial institutions (BFIs). It supervises 145 licensed BFIs operating 11,359 branches across all seven provinces, with total system deposits of NPR 8,082 billion and total lending of NPR 5,928 billion as of June 2026. The institution also operates Nepal's payment and settlement systems and protects financial consumers through the Gunastho portal and AML/CFT reporting via goAML.

NRB's recent operational focus centers on modernizing financial-market infrastructure and expanding regulatory frameworks. In 2026, it finalized a Regulatory Sandbox (effective 14 May 2026), launched a cross-border digital remittance service connecting Nepal's National Payments Interface (NPI) with India's Unified Payments Interface (UPI) in partnership with the National Payments Corporation of India (eight Nepali banks connected), and entered bilateral cooperation with the Reserve Bank of India on QR-based payments and supervision. It is also exploring a Central Bank Digital Currency (CBDC), an Open Banking Framework modeled on India's Account Aggregator system, and stricter disclosure rules for digital payment investments. A 10% minimum lending quota for commercial banks to the energy sector directs credit toward hydropower.

As a government-owned monetary authority, NRB does not generate commercial revenue from product sales; it is sustained by sovereign backing and the returns on its reserve management. Its primary customers are Nepal's BFIs, which it regulates, alongside the general public (including the country's substantial diaspora, whose remittances account for 28.2% of GDP). The institution faces macro-prudential risks from Nepal's February 2025 placement on the FATF grey list and a Supreme Court-declared systemic crisis in the cooperative sector, both of which are expanding NRB's supervisory perimeter and remedial responsibilities.

Name

Nepal Rastra Bank

Legal name

Nepal Rastra Bank

Website

https://nrb.org.np

Company type

Public

Founded year

1955

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Nepal Rastra Bank is the central bank of Nepal, established in 1955 and headquartered in Kathmandu. It sets monetary policy, regulates 145 banks and financial institutions across 11,359 branches, manages foreign exchange reserves, and operates national payment and remittance systems including cross-border NPI-UPI links with India.

Ownership category

akta.pro rank

Product category

Central Banking

NAICS

Monetary Authorities-Central Bank (52111), Monetary Authorities-Central Bank (521), Monetary Authorities-Central Bank (521110), Monetary Authorities-Central Bank (5211)

SIC

Foreign Governments (8888)

akta.pro primary industry

Government Accounting & Financial Reporting (BPAIAEAD)

Keywords

• Central banking
• Monetary policy
• Banking regulation
• Payment systems
• Foreign exchange management

Headquarters

HQ city

Kathmandu

HQ country

Nepal

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Others

Distribution channels3 records

Marketing channels5 records

Core offering

Nepal Rastra Bank is the central bank of Nepal, operating as the nation's monetary and regulatory authority. It formulates and implements monetary policy, issues currency, regulates and supervises banks and financial institutions (BFIs), manages foreign exchange reserves, and operates national payment systems including the National Payments Interface (NPI). It oversees 145 licensed financial institutions operating 11,359 branches nationwide.

Product overview

Nepal Rastra Bank (NRB) is Nepal's central bank operating as a regulatory and supervisory authority rather than a commercial product company. Its offerings consist primarily of regulatory frameworks, policy initiatives, and payment infrastructure: the Regulatory Sandbox enables fintech testing; Cross-Border Digital Remittance Services connect Nepal's NPI with India's UPI; international remittance services are enabled through approved partnerships like LemFi-eSewa; QR code payment services facilitate cross-border transactions; CBDC exploration represents future digital currency development; and daily foreign exchange rate publishing provides market information. The open banking framework remains under development. NRB also maintains banking supervision, monetary policy, and currency issuance as core central banking functions.

Differentiator

Problem solved

Functional benefit

Products and services

• Cross-Border Digital Remittance Service (NPI-UPI) A digital remittance service connecting Nepal's National Payments Interface (NPI) with India's Unified Payments Interface (UPI), enabling direct cross-border money transfers for migrant workers between the two countries via banking applications.
• QR Code Payment Service Cross-border QR code-based payment system allowing Indian tourists in Nepal to make payments via QR codes, with planned extension to Nepali citizens making payments in India.
• International Remittance Services (LemFi-eSewa Partnership) Approved third-party international remittance services enabling customers in North America, Europe, and other regions to send low-cost remittances to Nepal via the LemFi-eSewa partnership.
• Regulatory Sandbox Framework A formal framework that allows banks, payment companies, remittance firms, and fintech startups to test new financial products and services in a controlled environment under NRB supervision for up to six months.
• Digital Payment Investment Disclosure System Amended Unified Directive on Payment Systems (2025) mandating detailed investor and payment service provider disclosures when digital payment investments exceed 5% of paid-up capital or Rs 5 million.
• Foreign Exchange Rate Publishing Service Daily publication of foreign exchange rates for major currencies (USD, EUR, GBP, AUD, SGD, JPY) with buy and sell rates, updated regularly for public and institutional use.
• Central Bank Digital Currency (CBDC) Public Consultation Public consultation document identifying appropriate policy goals and design considerations for a potential digital Nepali Rupee (CBDC), representing NRB's exploration of central bank digital currency implementation.

Quantifiable outcome

• 37.7% surge in remittance inflows to NPR 1,449.65 billion in first eight months of FY 2025/26
• +3 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• National Payments Corporation of India (NPCI)coreTechnology or Integration · 14 June 2026Cross-border digital remittance service partnership connecting Nepal's National Payments Interface (NPI) with India's Unified Payments Interface (UPI). Enables direct money transfers for migrant workers on both sides with transaction limits of INR 200,000 (India to Nepal) and INR 15,000 (Nepal to India). Eight Nepali banks connected to platform.
• Reserve Bank of India (RBI)coreStrategic or Co-development Partner · 26 January 2026Bilateral cooperation between central banks focusing on QR code-based payments for Nepali citizens traveling in India, monetary policy coordination, liquidity management, foreign exchange management, and AI-based supervision.
• International Financial Services Centres Authority (IFSCA) - IndiaminorStrategic or Co-development Partner · 26 January 2026Meetings between Nepal's central bank governor and IFSCA officials in Gandhinagar, Gujarat to explore financial services cooperation.
• eSewacoreTechnology or Integration · 11 November 2025Partnership approved by Nepal Rastra Bank enabling LemFi to offer low-cost, reliable international payment services into Nepal. Supports remittance services from North America, Europe, and other regions.
• China Banknote Printing and Minting CorporationminorOEM/ Whitelabel/ Licensing Partner · 8 November 2025Chinese company secured contract to print 430 million Nepalese Rs 1,000 banknotes, valued at approximately USD 17 million. Awarded by NRB after competitive bidding process.
• Financial Action Task Force (FATF)coreOthersNRB is subject to FATF evaluation and monitoring. Nepal was placed on FATF grey list in February 2025, resulting in stricter visa requirements, slowed banking operations, and increased scrutiny on remittance channels.
• Asia/Pacific Group on Money Laundering (APG)coreOthersNRB collaborates with APG on anti-money laundering and counter-terrorist financing frameworks. Governor Paudel met with APG representatives in May 2026.
• International Monetary Fund (IMF)coreStrategic or Co-development PartnerNRB participates in IMF Article IV review cycles. Governor Paudel attended IMF-World Bank Spring Meeting 2026. IMF has urged Nepal to strengthen crypto oversight.
• World Bank GroupcoreStrategic or Co-development PartnerCollaboration on financial sector development, economic research, and policy reforms. Governor attended Spring Meeting 2026.
• SAARC FinanceminorStrategic or Co-development PartnerRegional cooperation mechanism for financial issues among South Asian Association for Regional Cooperation member states.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Reserve Bank of India: India's central bank and the dominant regional monetary authority. Directly comparable as a sovereign monetary regulator; NRB's NPI-UPI integration ties Nepal's payment infrastructure directly into RBI-supervised rails, and the two central banks maintain a strategic cooperation MoU.
• Bank of Thailand: A more advanced emerging-market central bank operating the PromptPay retail payment system and Project Inthanon CBDC pilots. Comparable as a peer regulator exploring digital currency and cross-border QR linkages (e.g., Thailand-Singapore, Thailand-Cambodia).
• SAMR (State Administration for Market Regulation) / People's Bank of China: China's central bank and digital-CNY CBDC operator. Relevant peer for CBDC architecture and offline-payment design considerations underlying NRB's CBDC consultation document.

Direct peers

• State Bank of Pakistan: Central bank of Pakistan, a fellow South Asian economy with similar remittance dependence, FATF grey-list exposure, and USD shortage dynamics. Operates analogous monetary policy, FX management, and banking-supervision functions for a comparable economy.
• Bangladesh Bank: Central bank of Bangladesh, operating a similar mixed commercial-and-development banking system with strong remittance exposure and parallel Islamic/conventional banking regulation. Faces a comparable South Asian regulatory environment to NRB.
• Central Bank of Sri Lanka: Sri Lanka's central bank, a peer South Asian monetary authority that has recently navigated debt restructuring, FX reserve rebuilding, and IMF programs. Comparable institutional structure and economic challenges.
• Royal Monetary Authority of Bhutan: Bhutan's central bank, a small South Asian monetary authority that shares Nepal's reliance on India for currency convertibility and trade. Comparable in scale and policy coordination needs with the RBI.

Regional players

• Bank of Mauritius: Small emerging-market central bank in the Indian Ocean region with similar remittance, financial-inclusion, and AML/CFT priorities. Useful comparison for cross-border payment integration and fintech regulatory sandbox design.
• Bangko Sentral ng Pilipinas: Philippine central bank, highly relevant peer because of its world-leading reliance on overseas worker remittances (similar 28%+ GDP share), extensive remittance-corridor regulation, and active fintech sandbox program.

Emerging players

• Bank of Botswana: Small emerging-market central bank with a consultative, research-driven approach to monetary policy and financial sector development in Africa. Comparable institutional maturity profile to NRB.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NepalRastraBank
• LinkedInlinkedin.com/company/nepal-rastra-bank
• Facebookfacebook.com/NRB.CentralBank

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nepal Rastra Bank