Nepal Rastra Bank. The Nepal Rastra Bank (NRB) is The Central Bank of Nepal and the Regulatory Body for all Banks and Financial Institutions (FIs) throughout the nation of Nepal. It was established on 26-April-1956 A.D. under the Nepal Rastra Bank Act, 1955, and continues to perform central banking functions, including guiding the development of Nepal's financial sector. The NRB now operates under the Nepal Rastra Bank Act, 2002.