The Nepal Rastra Bank has formalised a contact with Deloitte Touche Tomahatsu (DTT) effective 31 March, under which the consulting firm will manage the Rastriya Banijya Bank (RBB) for two years. DTT are to receive a management fee of $5.75 million in exchange for turning around the RBB, which KPMG auditors said two years ago is technically insolvent. BRS Neupane and Company will be DTT's Nepali partners. The central bank is negotiating the terms of a similar contract with Price Waterhouse Cooper India, which has been selected for taking over the management of the Nepal Bank Limited. The World Bank is giving Nepal almost $35 million for financial sector reforms, of which handing over the RBB and the NBL on management contracts is a major component.