As per section 14 of Nepal Rastra Bank Act, 2002, the Board of Nepal Rastra Bank (NRB) will comprise of seven members: four ex officio members – the Governor (who is the Chairman), the Secretary, Ministry of Finance and two Deputy Governors and three other Directors, each of whom are appointed from amongst the persons renowned in the field of Economics, Monetary, Banking, Finance and Commercial Laws.
The Governor, Deputy Governors and other Directors are appointed by Government of Nepal, Council of Ministers for term of five years. The Government may, reappoint the retiring Governor for another one term and the retiring Directors for any term, if it is deemed necessary.
The current members of the NRB Board are:
Management Committee
| Governor | Chairman |
| Deputy Governor | Member |
| Deputy Governor | Member |
| Senior Officer (Designated by the Governor) | Member Secretary |
The Governor may invite any of the officers to take part in the meeting of Management Committee
Audit Committee
| One of the Board Directors | Convenor |
| External Expert nominated by the board | Member |
| Chief of Internal Audit Department of the Bank | Member Secretary |