The 22-year-old business administration graduate, from the capital city, defeated 19 contestants in the final round.
Asmi received a cash prize of Rs 100,000 and a scooter along with other gift hampers.
Roshani Khatri, 20, has been declared the first runner up and she will represent Nepal in the Miss Earth beauty pageant.
Barsha Lekhi, 22, is the second runner up.
The first and second runner ups have received Rs 50,000 and Rs 25,000 respectively, along with gift hampers.