To act as the banker of commercial banks and financial institutions and to function as the lender of the last resort, (i) To establish and promote the system of payment, clearing and settlement and to regulate these activities, (j) To operate open market transaction through necessary instruments for liquidity management, (k) To implement or cause to implement any other necessary functions which the Bank has to carry out in order to achieve the objectives of the Bank under NRB Act, 2002. Former Governors Board of Directors As per the Nepal Rastra Bank Act, 2002, Nepal Rastra Bank Board of Directors has seven members. The Governor of the bank chairs the Board of Directors. The Governor, Deputy Governors and other Directors are appointed by the Government of Nepal (Council of Ministers) for a term of five years. The Government may reappoint the retiring Governor for one additional term. Branches and support bodies The NRB has its head office in Kathmandu. The central bank’s office in Province 1 is based in Biratnagar while its based in Janakpur in Province 2. Its office in Bagmati province is in Birgunj. The provincial office in Birgunj looks after the province. Gandaki province’s office of the central bank is in Pokhara. Province 5 has two provincial offices with one based in Nepalgunj and another in Siddharthanagar (Rupandehi). Surkhet office serves as the provincial office for Karnali while Dhangadhi serves Sudur Paschim province. Department, Office, Division & Unit These are the current division of NRB. Economic Research Department Banks and Financial Institutions Regulation Department Foreign Exchange Management Department Currency Management Department Assets and Service Management Department Financial Management Department Human Resources Management Department Internal Audit Department Monetary Management Department Bank Supervision Department Financial Institution Supervision Department Microfinance Institutions Supervision Department Non-Bank Financial Institution Supervision Department Corporate Planning and Risk Management Department Information Technology Department Payment Systems Department Banking Department Office of the Governor Legal Division Financial Information Unit Publications A report titled "Current Macro-Economic and Financial Situation" is published monthly, as required by the Nepal Rastra Bank Act, 2002. The report sums up trends and developments throughout the financial sector. Starting in 2004, the central Bank of Nepal publishes Economic Bulletin every three months. It also publishes yearly report since 2003 according to the Nepal Rastra Bank Act, 2002. Since 1987 , the central bank has been releasing journal named economic review citing the research done on