VISION
"A Modern, Dynamic, Credible and Effective Central Bank
In order to establish a clear path for attaining its objectives and take a forward-thinking approach to service delivery, NRB has created a vision statement. NRB considers incorporating new ideas and technologies, workflows, and methodologies into its service delivery that add value for its stakeholders. Modern reflects NRB's commitment to practicing the best international standards, policies, rules, and regulations and carrying out modern central banking functions in a holistic manner. NRB is committed to preserving dynamism by embracing change and promptly updating and upgrading its features. It is committed to meeting upcoming possibilities and challenges. In particular, NRB is committed to upholding the highest ethical standards in policy formation, decision-making, and service delivery in order to preserve trustworthy relationships with its stakeholders. In order to do this, NRB consistently works to strengthen Credibility through the development of programs and policies that are consistent with GON legislation and regulations. By exemplifying the leadership by example ethos, NRB has continually worked to improve its effectiveness and efficiency as a capable central bank. Its primary concern is making effective use of the few resources at its disposal to meet its aims and objectives by tackling current problems and difficulties.
"Maintaining Macroeconomic and Financial Stability via Proactive and Effective Monetary and Financial Policies for Sustainable and Inclusive Economic Growth"
The formulation and implementation of efficient monetary policy, a crucial tool for promoting economic stability and expansion, are the NRB's main priorities. Given the significance of both internal and external stability, it aims to make sure that the mechanisms for policy instruments to maintain macroeconomic stability are effective.
MISSION
"Maintaining Macroeconomic and Financial Stability for Sustainable and Inclusive Economic Growth through Proactive and Effective Monetary and Financial Policies"
The formulation and implementation of efficient monetary policy, a crucial tool for promoting economic stability and expansion, are the NRB's main priorities. It seeks to ensure an effective transmission mechanism of policy instruments to sustain macroeconomic stability because both internal and external stability are important.
In order to maintain financial stability, NRB is dedicated to creating an appropriate regulatory framework and putting it into practice. Executing an effective supervision mechanism that complies with internal rules and Basel core principles is another concern. The Financial Sector Development Strategy (FSDS), which was approved by the GON in January 2017, has also been given great emphasis. All of these initiatives and commitments will support preserving financial stability. For sustainable and fair growth, NRB places a high premium on developing monetary and financial policies that will improve credit flow in important and productive sectors. Through increased output and productivity, as well as increased revenue and employment, this will aid in value addition and capital development. To achieve this, NRB seeks to promote proactive and efficient monetary and financial policies that will promote sustainable and inclusive economic growth.
Core Values
Values are the ideals or views that everyone in an organization has in common. As guiding principles for a stronger company image, these ideals have been established. Every single employee/member of NRB is expected to demonstrate these ideals in their regular actions. The third five-year strategy plan has adjusted the key values identified in the first and second five-year strategic plans to reflect shifting context. The word "CREATIVE" reflects the bank's core values.
C: Committed: NRB is committed to providing its stakeholders with high-quality services in order to accomplish the institutional objectives and aims.
R: Responsible: The NRB is committed to carrying out its roles and responsibilities to the best of its abilities by continuously enhancing its knowledge and skills and by maintaining an effective system of communication and consultation in order to be in charge of the efficient provision of services.
E: Efficient: The NRB seeks to be highly effective and efficient in attaining the Bank's goals by embracing new developments in both the domestic and global financial markets.
A: Accountable: The NRB is dedicated to promoting accountability and transparency in its operations through excellent governance and information sharing with the general public. The Bank upholds honesty in all of its deeds and choices.
T: Team-Spirit: NRB is committed to fostering team spirit within departments by implementing participative and collaborative decision-making and service delivery processes.
I: Inclusive: To meet the financial demands of the many economic sectors, NRB tries to develop creative solutions and inclusive policies. To promote sustainable and equitable economic growth, these policies guarantee increased financial access, financial literacy, and consumer protection.
V: Visionary: To achieve macroeconomic and financial stability, NRB supports visionary and aggressive measures. In order to accomplish this, NRB must develop adequate policies to handle present difficulties and challenges as well as mitigation plans for potential dangers.
E: Equitable: NRB is committed to treating all of its stakeholders fairly. By ensuring impartiality in its policies, operations, and services, it ensures integrity and honesty.
Objectives
The Third Strategic Plan's primary goals are to make it easier to achieve macroeconomic and financial stability and to build NRB's credibility. The Third Strategic Plan will be focused on the NRB's federal structure restructuring, rebuilding earthquake-damaged buildings, modernizing ICT systems, implementing technological advancements, upgrading payment systems, bolstering institutional capabilities for good governance, and upholding positive relationships with domestic and foreign entities.
Certificates of Deposit: To confirm the containment of the instrument, a Certificate of Deposit is issued by the third-party financial institution that is represented by a bank. Commercial persons must take into account two crucial factors when it comes to certificates. The bank or other financial institution must first certify that the document is true and was written in good faith. Second, the certificate contains a written assurance from the bank that the sum would be paid by a specific date or time.
Bank Note: An example of a negotiable instrument is a bank note. These bank notes are a unique type of promissory note issued by a bank, which agrees to pay the bearer the amount stated in the note upon demand. Money is made from of these banknotes. The Bills of Exchange Act, 1882 also applies to them. After delivery, the bank notes may be transferred. By offering a sufficient indemnification, one may also request a replica of the bank notes from the Bank of England in the event that they are misplaced or destroyed. Bank of England, Bank of Scotland, and Bank of Northern Ireland are the institutions that issue the currency. Banknotes are considered to be lawful currency in many places.
Treasury Bills: The government uses Treasury Bills as a type of negotiable instrument. It is released by the government to finance short-term borrowing. These bills typically mature in less than a year and don't accrue interest until they do. As a result, the bank uses the bills as a short-term cash source. These notes can be sold at a discounted price compared to their present value to establish a positive field of maturity. These bills, known as "normal weekly treasury bills," are issued every week and have maturities of 28, 91, 182, and 364 days. The majority of the treasury bills are bought by banks and other financial institutions.
Banker's Draft: A banker's draft is a draft in which the money is not taken from each drawer's account, but rather straight from the financial institution. The draft may be paid at the bank's headquarters or any branch location. Payments made with this banker's draft are typically made in business transactions. Because the drawer and the drawee are the same person, the banker's draft cannot be regarded as a legal cheque. "But the cheques Act, 1957, the protection of bankers paying and collecting such instruments is as with genuine cheques,”.
Dividend Warrants: A dividend warrant is a demand draft that a corporation issues to a bank with the instruction to pay a stockholder or shareholder with a sum of money that symbolizes his profit in the firm's share. The shareholder will be entitled to a portion of the dividend that is declared. Such a sum may be drawn either as a check or a banker's draft.
Share Warrants: Public and private firms may issue share warrants in respect of fully paid shares, if permitted by their bylaws. a share warrant under common law that certifies that the holder has the right to the share mentioned therein. When a corporation grants a share warrant, it is required to remove the shareholder's name from the member registration. A share warrant is also negotiable because, upon simple delivery, it transmits a title free from flaws in the titles of prior holders. The key characteristic and benefit of a share warrant is that, even after consulting the companies' public documents, no one can determine who the share warrant's owner is. It is simple to transfer these warrants.
Bearer Scrip: When a payment is deposited, a certificate known as a "bearer scrip," which is a sort of negotiable instrument, is issued. An existing shareholder's bearer scrip indicates that the shareholder is eligible for the payment of additional installments. Typically, public corporations and the government employ bearer scrip.
Bearer Debenture: Upon simple delivery, bearer debentures become negotiable and transferable free of equity. The corporation does not require a notice of transfer. The coupon is affixed to the debenture to pay interest. These coupons are the companies' bankers' instructions to help pay the bearer the amount specified on the coupon after a specific date. The only way for the corporation to communicate with bearer debenture holders is through advertising. Bearer debentures may be exchanged into registered debentures by their holders. Promissory notes are another sort of debenture.
Bearer Bonds: They are a type of negotiable instrument that serve as a security for debt that has been issued by a government or a business. Compared to other prevalent types of investment securities, these bearer bonds are entirely different. This instrument is not registered, and there are no records of the bond's owner or any indication of the ownership-related transactions. The owner of the instrument is the person who is actually in possession of the paper on which the bond was issued. Therefore, it is impossible to recover the value of this bearer bond in the event of its loss or destruction.
Floating Rate Note: Bonds with a changeable coupon are known as floating rate notes. These coupons match the reference rate for the money market. Additionally, they have a steady pace. Floating rate notes often have quarterly coupons. Because they only repay the interest once every three months, they are given this name. Initially, the calculation of each coupon period involves adding a rate that never changes to the reference rate fixation, which is that day. There is an interest rate risk associated with the variable rate notes.
Certificate of deposit: It is a negotiable document that banks and credit unions frequently issue to customers as a finished good. The periods of the certificate of deposits are fixed and can be three months, six months, or one to five years. Additionally, they have a fixed interest rate. The money, along with the interest that has accrued, may be kept with the drawer if the certificate of deposit is held until its maturity date. We can receive a higher rate of interest if the money is retained as a deposit for the specified amount of time. A minimum deposit is a requirement for a certificate of deposit, and greater rates may be available for larger deposits.
