Kathmandu: The Finance Committee of the House of Representatives (HoR) has initiated consultations with key stakeholders on the proposed amendment to the Nepal Rastra Bank Act, 2058, as Parliament moves forward with efforts to modernize the country’s central banking framework.
The committee on Sunday held discussions with representatives from the Nepal Bankers’ Association (NBA), the Confederation of Banks and Financial Institutions Nepal (CBFIN), senior officials from the Ministry of Finance, the Ministry of Law, Justice and Parliamentary Affairs, and the Nepal Rastra Bank (NRB).
According to Finance Committee Secretary Laxman Aryal, the meeting focused on gathering feedback from stakeholders before the bill proceeds further through the parliamentary process.
The government registered the amendment bill in the Federal Parliament on June 2 as part of its broader financial sector reform agenda.
The Ministry of Finance has stated that the proposed legislation seeks to strengthen Nepal’s monetary and financial system by updating the existing legal framework to address evolving economic and regulatory challenges.
According to the ministry, the amendment aims to enhance the credibility, effectiveness, and institutional independence of the central bank while making the legal provisions more relevant to the country’s changing financial landscape.
The parliamentary consultations are expected to help lawmakers identify areas requiring refinement before the bill is finalized. The Finance Committee is gathering views from regulators, banking institutions, and government agencies to ensure the amended law supports financial stability, effective monetary policy implementation, and sound banking sector governance.
The proposed amendment is considered one of the government’s key financial sector reform initiatives, with policymakers emphasizing the need for a stronger and more resilient regulatory framework capable of responding to emerging challenges in Nepal’s banking and financial system.
