Nepal Rastra Bank act 2058
(r) "Negotiate" means the act of transferring an instrument to any person having the right to hold negotiable instruments enabling
him/her to become a bearer.
(s) "Negotiable Bill of Exchange" means letter of credit, bill of exchange or cheques.
(t) "Bill of Exchange" means anunconditional order in writing, addressed by one person to another, signed by the person giving it,
requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person or to bearer.
(u) "Promissory note" means an instrument signed by a person with an undertaking to pay, without any condition, a fixed amount to any particular person referred to in such instrument or to the person ordered by such person or to the bearer of such instrument on a fixed date or on demand.
(v) "Cheque" means a bill of exchange drawn on any bank ordering it to make payment on demand.
(w) "Credit" means a direct or indirect promise to invest money and the right to recover such amount of investment in return and the interest of such credit or payment of other charges, the refinance given against the security of credit or investment restructuring and renewal
of credit, the guarantee made for repayment of credit or any other promise for such repayment, and this expression also includes any type of debt.
(x) "Account" means the record, registers and books to be maintained as per prevailing laws to keep the record of transactions, and this expression also includes other documents to prove the said transactions.
(y) "Credit security,” means any bill of exchange of indebtedness and any other instrument equivalent to such instruments of indebtedness, whether in certified or in book entry form.
(z) "Monetary liability" means the bank notes and coins in circulation existing in the balance sheet of the Bank.
(aa) "International Account Standard" means the account standard of international level.
(ab) "Employee" means a person holding a post in the Bank an individual presently employed in any post of the Bank.
(ac) "Prescribed" or "as prescribed" mean prescribed or as prescribed in the Rules or Bye-laws framed under this Act.
Chapter 1 End
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