Organizational Structure of Nepal Rastra Bank
Nepal Rastra Bank (NRB) is the regulator body of Nepalese Bank and Financial institutions which is established in 2013 B.S. It has the sole authority to issue bank notes and coins. Similarly, it issues monetary and foreign exchange policy for price stability, to control inflation and influence overall economy of the nation.
The organizational structure of Nepal Rastra Bank (NRB) are as follows:
1.The Board of Director (BOD) is the highest level of Organizational structure of Nepal Rastra Bank (NRB). There are seven members in Board of Director of NRB which are as follows:
Governor - Chairperson (1)
Secretary, Ministry of Finance - Member (1)
Deputy Governors - member (2)
Directors - member (3)
Directors are appointed by Government of Nepal among the experts in the field of Economics, banking, finance, commercial law, monetary etc.
2. There are Management committee, Audit Committee and other sub committees under BOD of NRB.
Management committee of NRB has 4 members which are as follows:
Governor - Chairperson (1)
Deputy Governor - Member (2)
senior officer - Member secretary (1)
Senior officer is appointed by the Governor and act as a member secretary.
Audit committee of NRB has 3 members which are as follows:
Director appointed by Board - coordinator (1)
Subjective expert appointed by Board - Member (1)
Chief of the internal audit department of NRB - Member (1)
3. Under Governor, there are 2 deputy governor, office of the governor, Internal audit department, Financial Intelligence Unit and Legal Division.
4. There are four groups under the two Deputy Governors. They are as follows:
a) Monetary and Foreign Exchange Policy Group
b) Regulation and Supervision Group
c) Support Services Group
d) Banking Management Group
Under Banking Management Group, total of 8 provincial offices or branches have been established.
5. Thus, there are total 22 number of structures in NRB which are as follows:
Departments - 18
(including Office of the governor)
Divisions - 3
(Legal Division, Mint Division, Bankers Training Centre Division)
Unit - 1 (Financial Intelligence Unit - FIU)
In Conclusion, the structure of NRB is very unique as compared to other types of organizations. The governor is the chairman of BOD as well as Management committee which falls under BOD makes it unique structure.
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