- Type
- Act
- Year
- २०५५ BS
- Status
- In force
- Category
- खण्ड ७: मुद्रा, बैङ्किङ्ग, बीमा, वित्तीय संस्था तथा धितोपत्र · Volume 7: Currency, Banking, Insurance, Financial Institutions and Securities
- Official text
- Official page Official text (PDF)
- English translation
- Official English translation archived copy: the original page is no longer online
Includes amendments up to: 2066 BS. Translations may not include later amendments. The Nepali text is the authoritative law.
Analysis drawn from official reports, court rulings and published research, each cited. Figures are being double-checked against the source documents; corrections are welcome.
What does it do?
- The Act lets non-governmental organisations registered under the Associations Registration Act 2034 do 'financial intermediation': collecting small savings from, and giving small loans to, low-income people (below an income level set by Nepal Rastra Bank) to run micro-enterprises with fewer than ten workers, mainly through groups whose members guarantee each other's loans.संस्था दर्ता ऐन, २०३४ अन्तर्गत दर्ता भएका गैरसरकारी संस्थालाई न्यून आय भएका व्यक्ति (नेपाल राष्ट्र बैंकले तोकेभन्दा कम आय भएका) बाट लघुबचत सङ्कलन गर्ने र दश जनाभन्दा कम कामदार भएका लघुव्यवसाय चलाउन लघुकर्जा दिने 'वित्तीय मध्यस्थता' को काम गर्न यो ऐनले अनुमति दिन्छ; यस्तो कर्जा मुख्यतः सामूहिक जमानीमा समूहमार्फत दिइन्छ। Nepal Law Commission, Government of Nepal Preamble; Sections 1–2, pp. 1–4
- No organisation may do this work without a licence from Nepal Rastra Bank, which must decide on an application within 75 days, may set conditions, and must renew the licence every two years (it lapses automatically if not renewed). The Bank may require information, inspect accounts, issue directions, cancel licences, set interest rates and stop institutions from operating.नेपाल राष्ट्र बैंकको अनुमतिपत्रबिना कुनै संस्थाले यो काम गर्न पाउँदैन; बैंकले ७५ दिनभित्र निवेदनमा निर्णय गर्नुपर्छ, सर्त तोक्न सक्छ, र हरेक दुई वर्षमा अनुमतिपत्र नवीकरण गर्नुपर्छ (नवीकरण नगरे स्वतः रद्द हुन्छ)। बैंकले विवरण माग्न, हिसाब जाँच्न, निर्देशन दिन, अनुमतिपत्र खारेज गर्न, ब्याजदर तोक्न र काम रोक्न सक्छ। Nepal Law Commission, Government of Nepal Sections 3–7, pp. 4–5; Sections 9 and 14–20, pp. 7–11
- Licensed institutions encourage group formation, collect savings and lend; if a borrower defaults they may auction the security, and if that is not enough, the property of the borrower or group guarantors, with land offices required to register the transfer. They must keep a risk fund and have their accounts audited, are exempt from registration fees and income tax as set in the Act, and must report annually.अनुमतिप्राप्त संस्थाले समूह गठन गर्न प्रोत्साहन, बचत सङ्कलन र कर्जा प्रवाह गर्छन्; ऋणीले नतिरे सुरक्षणमा राखिएको सम्पत्ति लिलाम गर्न र नपुगे ऋणी वा सामूहिक जमानी दिने सदस्यको सम्पत्तिबाट असुल गर्न सक्छन्, र मालपोत कार्यालयले दाखिल खारेज गरिदिनुपर्छ। संस्थाले जोखिम व्यहोर्ने कोष राख्नुपर्छ, लेखापरीक्षण गराउनुपर्छ, ऐनअनुसार रजिष्ट्रेशन दस्तुर र आयकरमा छुट पाउँछ, र वार्षिक प्रतिवेदन दिनुपर्छ। Nepal Law Commission, Government of Nepal Sections 8, 11–12, pp. 5–9; Sections 24–26 and 30–32, pp. 12–15
- Operating without a licence carries up to Rs 20,000 fine or six months' prison (for the organisation's officers); disobeying the Bank's directions or giving false information, and embezzlement by staff, carry fines, damages and prison under section 28.अनुमतिपत्रबिना काम गरेमा रु. २०,००० सम्म जरिवाना वा छ महिनासम्म कैद (संस्थाका पदाधिकारीलाई) हुन्छ; बैंकको निर्देशन नमानेमा वा झुटो सूचना दिएमा र कर्मचारीले हिनामिना गरेमा दफा २८ बमोजिम बिगो असुलीसहित जरिवाना र कैद हुन्छ। Nepal Law Commission, Government of Nepal Section 28, p. 14
Gaps, loopholes and improvement ideas
None documented in the official reports we have reviewed so far.
Where does it conflict with other laws?
No conflict with another law is documented in the sources we have reviewed so far.