Nepal Rastra Bank Act, 2058 (2002) .
Date of Authentication and publication
17 magh 2058 (January 30, 2002)
Act No.15 of the year of 2058 (2002)
An Act to Provide for Establishment of Nepal Rastra Bank to carry out the
Functions of the Central Bank
Preamble: Whereas, it is expedient to establish a Nepal Rastra Bank to function as the Central Bank to formulate necessary monetary and foreign exchange policies, to maintain the stability of price, to consolidate balance of payment for sustainable development of the economy of Nepal, and to develop a secure, healthy and efficient system of payment; to appropriately regulate, inspect and supervise in order to maintain the stability and
healthydevelopment of banking and financial system; and for the enhancement of public credibility towards the entire banking and financial system of the country. Now, therefore, be it enacted by Parliament in the first year of reign of His Majesty the King Gyanendra Bir Bikram Shah Dev
Chapter-1
Preliminary
1. Short Title and Commencement: (1) This Act may be called "Nepal
Rastra Bank Act, 2058 (2002)".
(2) This Act shall come into force
immediately.
2. Definition: Unless the subject or context otherwise requires, in this Act,
(a) "Bank" means the Nepal Rastra Bank established under Section 3.
(b) "Board" means the Board of Directors of the Bank constituted under
Section 14.
Cont:
Tags:
Banking