Nepal Rastra Bank Act overhaul proposed: Digital currency, Banker ban for governor role
▸ Part of: Nepal Rastra Bank Mandates Disability-Friendly Services and Fair Overtime Pay for Banks
The government has approved a bill to amend the Nepal Rastra Bank (NRB) Act, introducing significant reforms to modernize the central banking framework. Key proposals include strengthening central bank autonomy, regulating digital currencies and digital banks, and redefining eligibility for the NRB governor role to reduce conflicts of interest, potentially barring commercial bank CEOs. The amendment also aims to enhance monetary policy focus on inflation control, expand the definition of financial institutions, and clarify the NRB's role as a lender of last resort. Furthermore, it seeks to align the central bank with Nepal's federal structure and improve governance through board restructuring and specialized funds.
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