- Type
- Act
- Year
- २०५८ 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
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?
- Nepal Rastra Bank is the central bank, an autonomous body headquartered in Kathmandu. Its objectives are to keep prices and the balance of payments stable through monetary and foreign-exchange policy for economic stability and sustainable growth; to widen access to financial services and keep the banking and financial system stable and trusted; and to develop a safe, healthy and efficient payment system. It supports the government's economic policy only where this does not undermine these objectives.नेपाल राष्ट्र बैङ्क काठमाडौंमा केन्द्रीय कार्यालय रहेको स्वशासित केन्द्रीय बैङ्क हो। आर्थिक स्थायित्व र दिगो विकासका लागि मौद्रिक तथा विदेशी विनिमय नीतिमार्फत मूल्य र शोधनान्तर स्थिरता कायम गर्नु, वित्तीय सेवामा पहुँच बढाई बैङ्किङ तथा वित्तीय प्रणालीको स्थायित्व र विश्वसनीयता कायम गर्नु, र सुरक्षित, स्वस्थ तथा सक्षम भुक्तानी प्रणाली विकास गर्नु यसका उद्देश्य हुन्। यी उद्देश्यमा प्रतिकूल असर नपर्ने गरी मात्र यसले सरकारको आर्थिक नीतिमा सहयोग गर्छ। Nepal Law Commission, Government of Nepal Sections 3–4, pp. 6–7
- The Bank issues notes and coins, sets monetary policy, interest and discount rates and reserve requirements, manages foreign-exchange reserves and the exchange-rate system, and acts as the government's banker and financial adviser. Apart from exceptions in the Act, it may not give financial help to the government or to entities the government owns.बैङ्कले नोट र सिक्का निष्कासन गर्छ, मौद्रिक नीति, ब्याज र डिस्काउन्ट दर तथा अनिवार्य मौज्दात तोक्छ, विदेशी विनिमय सञ्चिति र विनिमय दर प्रणाली व्यवस्थापन गर्छ, र सरकारको बैङ्कर तथा वित्तीय सल्लाहकारको काम गर्छ। ऐनमा अन्यथा व्यवस्था भएबाहेक सरकार वा सरकारी स्वामित्वका संस्थालाई कुनै वित्तीय सहयोग दिन पाउँदैन। Nepal Law Commission, Government of Nepal Sections 5, 46–60, 62–69 and 75, pp. 8, 29–41
- The Governor is appointed by the Council of Ministers from three names recommended by a committee chaired by the Finance Minister; deputy governors are appointed on the Governor's recommendation. A board of directors, including three government-appointed experts, governs the Bank.अर्थमन्त्रीको अध्यक्षतामा रहेको सिफारिस समितिले सिफारिस गरेका तीन नाममध्येबाट मन्त्रिपरिषद्ले गभर्नर नियुक्त गर्छ; डेपुटी गभर्नर गभर्नरको सिफारिसमा नियुक्त हुन्छन्। सरकारले नियुक्त गरेका तीन विज्ञसमेत रहेको सञ्चालक समितिले बैङ्क सञ्चालन गर्छ। Nepal Law Commission, Government of Nepal Sections 14–17, pp. 13–14
- No one may take deposits or lend as a bank or financial institution without the Bank's licence. The Bank regulates, inspects and supervises licensed institutions, may take over or resolve problem institutions (including through a bridge institution), and may seek their liquidation. Breaching its regulations brings penalties set in the Act. It must publish an annual report and report to the government.बैङ्कको इजाजतबिना कसैले बैङ्क वा वित्तीय संस्थाका रूपमा निक्षेप लिन वा कर्जा दिन पाउँदैन। बैङ्कले इजाजतप्राप्त संस्थाको नियमन, निरीक्षण र सुपरिवेक्षण गर्छ, समस्याग्रस्त संस्थाको व्यवस्थापन हातमा लिन वा फरफारक (ब्रिज संस्थामार्फतसमेत) गर्न सक्छ, र खारेजीका लागि निवेदन दिन सक्छ। नियमन उल्लङ्घन गरेमा ऐनमा तोकिएको सजाय हुन्छ। बैङ्कले वार्षिक प्रतिवेदन प्रकाशित गरी सरकारलाई प्रतिवेदन दिनुपर्छ। Nepal Law Commission, Government of Nepal Sections 76–84, pp. 43–47; Sections 88क–88ण, pp. 63–79; Sections 91–93 and 100, pp. 80–83
Gaps, loopholes and improvement ideas
- Loophole The Act lets the board, on which the Governor and deputy governors sit, set their own benefits. Section 19 leaves pay and 'other benefits' of the Governor, deputy governors and directors to the board, without defining those benefits. The Auditor General found that the Bank had approved a procedure under which the Governor and deputy governors can buy official vehicles for their own use and take them home on retirement at 20% of the purchase price or book value, which the Auditor General did not find justified, and recommended that the law set the limits of benefits in and after service.गभर्नर र डेपुटी गभर्नर सदस्य रहने सञ्चालक समितिले आफ्नै सुविधा तोक्न सक्ने व्यवस्था ऐनमा छ। दफा १९ ले गभर्नर, डेपुटी गभर्नर र सञ्चालकको पारिश्रमिक र 'अन्य सुविधा' सञ्चालक समितिले तोक्ने भने पनि ती सुविधा के हुन् भनेर ऐनमा उल्लेख छैन। गभर्नर र डेपुटी गभर्नरले आफूले प्रयोग गर्ने सवारी साधन खरिद गरी अवकाशपछि खरिद मूल्य वा किताबी मूल्यको २० प्रतिशत तिरेर आफ्नो नाममा लैजान पाउने कार्यविधि बैङ्कले स्वीकृत गरेको र त्यो औचित्यपूर्ण नदेखिएको महालेखापरीक्षकले औँल्याउँदै सेवामा रहँदा र अवकाशपछि पाउने सुविधाको हद कानूनद्वारा स्पष्ट गर्न सुझाव दिएको छ। Office of the Auditor General, Nepal · Nepal Law Commission, Government of Nepal OAG 62nd Report, government-owned entities, Nepal Rastra Bank, para 9 and 9.1, printed p. 656; Act s. 19, p. 14
Ideas to fix it
- Review the arrangement under which the board sets directors' benefits, and spell out in law the limits of benefits for the Governor, deputy governors and directors both in service and after retirement.सञ्चालकले पाउने सुविधा समितिले तोक्ने व्यवस्थाको पुनरावलोकन गर्ने र गभर्नर, डेपुटी गभर्नर तथा सञ्चालकले सेवामा रहँदा र अवकाशपछि पाउने सुविधाको हद कानूनद्वारा स्पष्ट गर्ने। Proposed by: Office of the Auditor General (62nd Annual Report) Office of the Auditor General, Nepal
Where does it conflict with other laws?
No conflict with another law is documented in the sources we have reviewed so far.
Open questions for lawmakers
Research candidates on possible conflicts, gaps or loopholes involving this law. Not legal findings: each awaits qualified legal review.