Wednesday, July 22, 2020

Central Banks changes name of its departments

Kathmandu, July 21

The Nepal Rastra Bank has changed the name of its seven departments from the beginning of the current fiscal year 2020/21.

The General Services Department is renamed as Assets and Service Management Department (ASMD), and Research Department as the Economic Research Department (ERD), according to a notice published by the NRB on Tuesday.

Microfinance Promotion and Supervision Department has got a new name Microfinance Institutions Supervision Department (MFISD) while Corporate Planning Department is changed into Corporate Planning and Risk Management Department (CPRMD).

Likewise, the banking sector regulator has rebranded the Banking Office as Banking Department (BD), Information Technology Department as Information Technology Division (ITD) while the offices outside the valley will be called Provincial Offices.

Spokesperson of the central bank Dr. Gunakar Bhatta said that the names were adjusted as per their nature of work.

“Some names sound too conventional so they have been changed as per the current duties and market demands,” he said.

Published in The Rising Nepal daily on 22 July 2020. 


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