29 entries
Bank Rateबैंक दरThe rate at which NRB provides standing liquidity to banks and financial institutions; it forms the upper bound of the interest rate corridor and is the reference for NRB penalties.Monetary Policy & NRBConsumer Price IndexCPIउपभोक्ता मूल्य सूचकाङ्कAn index that measures the average change over time in the prices paid by consumers for a fixed basket of goods and services. Its percentage change is the usual measure of inflation in Nepal.Monetary Policy & NRBCurrency Managementमुद्रा व्यवस्थापनThe central bank's function of designing, printing, issuing, distributing, withdrawing and destroying banknotes and coins, so that the economy has enough clean, genuine currency.Monetary Policy & NRBDeposit Collection Auctionनिक्षेप संकलन बोलकबोलAn open market operation in which NRB invites banks and financial institutions to bid to place their surplus funds with NRB for a fixed term, absorbing excess liquidity.Monetary Policy & NRBFiscal Policyवित्त नीतिThe government's use of taxation, public expenditure and borrowing to influence economic activity, income distribution and stability.Monetary Policy & NRBHigh-powered Money (Reserve Money)RMउच्चशक्ति मुद्रा (सञ्चित मुद्रा)The money directly created by the central bank: currency in circulation plus the deposits of banks and others with the central bank. It is the base on which banks create broad money.Monetary Policy & NRBInflationमुद्रास्फीतिA sustained rise in the general price level of goods and services, which reduces the purchasing power of money. In Nepal it is measured by the change in the consumer price index compiled by NRB.Monetary Policy & NRBInterest Rate CorridorIRCब्याजदर करिडोरA band of short-term interest rates set by NRB, with the standing deposit facility rate as the floor, the standing liquidity facility rate (bank rate) as the ceiling and the policy rate in between, within which the interbank rate is kept.Monetary Policy & NRBIntermediate Targetअन्तरिम लक्ष्यA variable between the central bank's instruments and its final goals, which the bank cannot control directly but which reliably predicts those goals. NRB's intermediate target is the NPR-INR exchange rate peg.Monetary Policy & NRBLender of Last ResortLOLRअन्तिम ऋणदाताThe central bank's role of lending to banks in exceptional circumstances when they cannot get funds elsewhere, to prevent a liquidity problem from becoming a bank failure or a system-wide crisis.Monetary Policy & NRBMacroprudential Regulationसमष्टिगत विवेकशील नियमनRegulatory tools aimed at the stability of the financial system as a whole, limiting system-wide risks such as excessive credit growth or asset bubbles, rather than the safety of individual banks alone.Monetary Policy & NRBMonetary Policyमौद्रिक नीतिThe central bank's policy of managing money supply, interest rates and liquidity to achieve price stability, external stability and support for economic growth.Monetary Policy & NRBMonetary Transmission Mechanismमौद्रिक प्रसार संयन्त्रThe channels through which a change in the central bank's policy rate or liquidity affects market interest rates, credit, asset prices, the exchange rate and finally output and inflation.Monetary Policy & NRBMoney Supply (M1, M2)मुद्राप्रदायThe total stock of money held by the public in an economy. NRB measures it as narrow money (M1), M1+, broad money (M2) and broad money liquidity (M3).Monetary Policy & NRBMoral Suasionनैतिक दबाबA qualitative monetary tool in which the central bank persuades banks, through meetings, appeals and public statements, to act in line with policy without issuing binding rules.Monetary Policy & NRBNRB Bondनेपाल राष्ट्र बैंक ऋणपत्रA debt security issued by Nepal Rastra Bank itself to absorb liquidity from the banking system, used especially for structural excess liquidity.Monetary Policy & NRBNRB Unified Directivesएकीकृत निर्देशनThe consolidated set of prudential and regulatory directives that Nepal Rastra Bank issues to licensed banks and financial institutions, updated periodically to include all circulars issued since the previous edition.Monetary Policy & NRBNominal Anchorनाममात्रको अङ्कुशA nominal variable that a central bank fixes or targets to tie down the price level and inflation expectations. Nepal's nominal anchor is the fixed exchange rate of the Nepali rupee with the Indian rupee.Monetary Policy & NRBOpen Market OperationsOMOखुला बजार कारोबारThe buying and selling of government or central bank securities, and related repo and deposit operations, by NRB to inject or absorb liquidity in the banking system.Monetary Policy & NRBOperating Targetसञ्चालन लक्ष्यThe short-term financial variable that a central bank controls directly day to day through its instruments in order to reach its intermediate and final goals. NRB's operating target is the weighted average interbank rate of BFIs.Monetary Policy & NRBOutright Sale and Purchase Auctionसोझै खरिद तथा बिक्री बोलकबोलOpen market operations in which NRB permanently buys or sells government securities through auctions, with no agreement to reverse the deal.Monetary Policy & NRBPolicy Rateनीतिगत दरThe benchmark interest rate set by NRB that signals its monetary policy stance and around which it aims to keep the interbank rate, placed in the middle of the interest rate corridor.Monetary Policy & NRBQuantitative and Qualitative Credit Controlपरिमाणात्मक तथा गुणात्मक कर्जा नियन्त्रणThe two families of central bank tools: quantitative (general) tools that change the overall volume and cost of credit, and qualitative (selective) tools that direct credit toward or away from particular sectors.Monetary Policy & NRBRefinanceपुनरकर्जाConcessional funding that NRB provides to banks and financial institutions against loans they have given to priority or targeted sectors, so that those borrowers get credit at lower interest rates.Monetary Policy & NRBRepoरिपोA transaction in which NRB buys government securities from banks with an agreement that the banks will buy them back on a set date at a set price, injecting short-term liquidity.Monetary Policy & NRBReverse Repoरिभर्स रिपोA transaction in which NRB sells government securities to banks with an agreement to buy them back later at a set price, temporarily absorbing excess liquidity.Monetary Policy & NRBStanding Deposit FacilitySDFस्थायी निक्षेप सुविधाA standing window through which banks and financial institutions can deposit surplus funds with NRB at a fixed rate; its rate is the floor of the interest rate corridor.Monetary Policy & NRBStanding Liquidity FacilitySLFस्थायी तरलता सुविधाA standing window through which banks and financial institutions can borrow short-term funds from NRB against eligible collateral, usually government securities, at the bank rate; it forms the ceiling of the interest rate corridor.Monetary Policy & NRBSterilized Interventionनिष्प्रभावीकृत हस्तक्षेपForeign exchange purchase or sale by the central bank combined with an offsetting domestic operation, so that the intervention does not change the amount of reserve money in the banking system.Monetary Policy & NRB