KATHMANDU: Nepal Rastra Bank (NRB) has merged two of its departments — Development Bank Supervision Department and Finance Company Supervision Department — and formed the Financial Institutions Supervision Department.
The newly formed department will come into effect from February 13, as per the decision taken by the central bank, on December 28, 2021.
Moreover, the central bank has established the Non-Bank Financial Institutions Supervision Department to conduct inspection, supervision and monitoring of institutions bearing licences to carry out various transactions including foreign exchange, hire purchase and other hydroelectricity investment and development company Ltd and national cooperative bank Ltd that will come into effect from February 13.
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