Nepal Rastra Bank Act, 2058 (2002)

This paper presents the Nepal Rastra Bank Act, 2002. The Act was enacted by the Parliament, and is directed towards the goal of establishing the Nepal Rastra Bank to function as the Central Bank in Nepal. The Act covers:

• Definition of terms used in the Banking Act;
• Establishment, objectives, and functions, duties and powers of the bank;
• Formation of the Board and its functions, duties, and powers of the bank;
• Financial provisions;
• Monetary functions and operation of open market;
• Monetary unit, bank note, and coins;
• Foreign exchange policy, regulation, and reserve;
• Relation with the government;
• Regulation, inspection, and supervision of the other banks;
• Balance sheet, auditing, and report;
• Offences, punishment, and proceedings and;
• Other terms such as collection of data, trust accounts etc.