Nrb Act 2058
(c) "Director" means a member of the Board and this expression also includes the Governor and Deputy Governors.
(d) "Governor" means the Governor of the Bank appointedunder Section 15.
(e) "Deputy Governor" means the Deputy Governor of the Bank appointed under Section 16.
(f) "Commercial Bank" means a commercial bank established under the prevailing laws.
(g) "Financial Institution" means a financial institution established under the prevailing laws with the objectives of providing loans for agricultural cooperative, industrial or any other specific economic purpose or of collecting deposits from the general public and this expression also includes an institution prescribed as financial
institution by Government of Nepal upon publishing notice in the Nepal Gazette.
(h) "Money" means all types of currency notes, postal orders, postal notes, money orders, cheques, drafts, traveller's cheques, letters of credit, bills of exchange,
promissory notes and credit cards and this
expression also includes similar types of monetary instruments as
the Bank may prescribe, as per the requirement, through the publication and transmission of public notice.
(i) "Currency Note" means the bank note in circulation in the form of cash and this expression also includes coin.
(j) "Foreign Currency" means the currency other than the Nepalese currency and this expression includes the special drawing rights on the International Monetary Fund, the Asian Currency Units, the European Currency Units and other instruments as the Bank may prescribe, as per the requirement, by publication and transmission of public notice.
(k) "Nepalese Currency" means the currency of Nepalese rupee denomination.
(l) "Convertible Foreign Currency" means the foreign currency, which have been prescribed by the Bank as convertible foreign currency, as per the requirement, by publication and transmission of public
notice.
(m) "Foreign Exchange" means foreign currency, all types of deposits, credits, stocks, foreign securities payable in foreign currencies and the cheques, drafts, traveller's cheques, electronic fund transfer,
credit cards, letters of credit, bills of exchange, promissory notes in international circulation payable in foreign currencies; and this expression also includes whatsoever, type of other monetary
instrument as the Bank may prescribe, as per the requirement, by publication and transmission of public notice.
(n) "Foreign Exchange Transaction" means the acts of purchase and sale of foreign exchange or the acts of borrowing, giving credits, and of accepting or providing foreign exchange in any manner
whatsoever, and this expression also includes the act of granting approval for foreign exchange by the Bank.
(o) "License holder" means an individual, firm, company or institution that has obtained license from the Bank for foreign exchange transaction.
(p) "Letter of credit" means an instrument issued by a bank to another bank instructing to accept cheque, draft, hundi or bill of exchange drawn by specified person up to the limit of specified amount.
(q) "Securities" means share, stock bond, debenture, debenture stocks issued by any corporate body or a certificate of unit saving scheme or collective saving scheme (mutual fund) or transferable certificate of deposit issued by a corporate body in accordance with laws, and this expression also include the securities orreceipt of deposit
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