Podcast
Questions and Answers
What is the purpose of Nepal Rastra Bank as mentioned in the Act?
What is the purpose of Nepal Rastra Bank as mentioned in the Act?
- To maintain stability of price and balance of payment (correct)
- To regulate the stock market
- To maximize profits for the banking sector
- To provide loans to individuals and businesses
When did the Nepal Rastra Bank Act, 2058 (2002) come into force?
When did the Nepal Rastra Bank Act, 2058 (2002) come into force?
- Immediately (correct)
- After the first amendment
- After one year of its authentication
- After the King's approval
What does 'Bank' refer to in the context of the Act?
What does 'Bank' refer to in the context of the Act?
- Nepal Rastra Bank established under Section 3 (correct)
- Commercial banks operating in Nepal
- Banks regulated by the government
- Foreign banks investing in Nepal
What does 'Board' refer to in the context of the Act?
What does 'Board' refer to in the context of the Act?
When was the Nepal Rastra Bank (First Amendment) Act, 2063BS (2006) authenticated and published?
When was the Nepal Rastra Bank (First Amendment) Act, 2063BS (2006) authenticated and published?
According to the Act, what is the short title of the Nepal Rastra Bank Act, 2058 (2002)?
According to the Act, what is the short title of the Nepal Rastra Bank Act, 2058 (2002)?
What does the term 'Director' include as per the given text?
What does the term 'Director' include as per the given text?
What does 'Convertible Foreign Currency' refer to?
What does 'Convertible Foreign Currency' refer to?
What is the meaning of 'Financial Institution' as per the text?
What is the meaning of 'Financial Institution' as per the text?
What does 'Commercial Bank' refer to based on the given text?
What does 'Commercial Bank' refer to based on the given text?
As per the given text, what does 'Nepalese Currency' mean?
As per the given text, what does 'Nepalese Currency' mean?
What does 'Foreign Currency' include?
What does 'Foreign Currency' include?
What is included in the term 'Money' as per the given text?
What is included in the term 'Money' as per the given text?
Based on the given text, what does 'Foreign Exchange' encompass?
Based on the given text, what does 'Foreign Exchange' encompass?
'Currency Note' as per the given text includes what?
'Currency Note' as per the given text includes what?
What does 'Deputy Governor' mean based on the given text?
What does 'Deputy Governor' mean based on the given text?
What is the definition of 'Money' as per the Nepal Rastra Bank Act, 2058 (2002)?
What is the definition of 'Money' as per the Nepal Rastra Bank Act, 2058 (2002)?
According to the Act, what does 'Foreign Exchange' encompass?
According to the Act, what does 'Foreign Exchange' encompass?
What is the meaning of 'Convertible Foreign Currency' based on the text?
What is the meaning of 'Convertible Foreign Currency' based on the text?
Define the term 'Financial Institution' as per the text.
Define the term 'Financial Institution' as per the text.
What does the term 'Currency Note' include based on the given text?
What does the term 'Currency Note' include based on the given text?
What is the short title of the Nepal Rastra Bank Act, 2058 (2002)?
What is the short title of the Nepal Rastra Bank Act, 2058 (2002)?
When did the Nepal Rastra Bank (Second Amendment) Act, 2073 BS (2016) come into force?
When did the Nepal Rastra Bank (Second Amendment) Act, 2073 BS (2016) come into force?
What does the term 'Preamble' refer to in the context of the Nepal Rastra Bank Act, 2058 (2002)?
What does the term 'Preamble' refer to in the context of the Nepal Rastra Bank Act, 2058 (2002)?
What is the function of the 'Board' mentioned in the Act?
What is the function of the 'Board' mentioned in the Act?
According to the Act, what is the primary function of Nepal Rastra Bank?
According to the Act, what is the primary function of Nepal Rastra Bank?
Study Notes
Introduction
- The Nepal Rastra Bank Act, 2058 (2002) is the governing legislation for the central bank of Nepal.
Definitions
- 'Bank' refers to the Nepal Rastra Bank.
- 'Board' refers to the Board of Directors of the Nepal Rastra Bank.
- 'Director' includes the Governor, Deputy Governors, and other Directors of the Board.
- 'Convertible Foreign Currency' refers to foreign currency that can be exchanged for Nepalese currency.
- 'Financial Institution' means a bank, financial institution, or other organization that provides financial services.
- 'Commercial Bank' refers to a bank that provides commercial banking services.
- 'Nepalese Currency' means the currency issued by the Nepal Rastra Bank.
- 'Foreign Currency' includes all currencies other than Nepalese currency.
- 'Money' includes Nepalese currency, foreign currency, and other monetary instruments.
- 'Foreign Exchange' encompasses all transactions involving foreign currency.
- 'Currency Note' includes notes issued by the Nepal Rastra Bank.
Amendments
- The Nepal Rastra Bank (First Amendment) Act, 2063BS (2006) was authenticated and published in 2006.
- The Nepal Rastra Bank (Second Amendment) Act, 2073 BS (2016) came into force in 2016.
Governance
- The Board of Directors is responsible for the governance of the Nepal Rastra Bank.
- The Governor is the chief executive of the Nepal Rastra Bank.
- The Deputy Governor assists the Governor in the performance of their duties.
Functions
- The primary function of Nepal Rastra Bank is to regulate the monetary and financial system of Nepal.
- The Nepal Rastra Bank is responsible for managing the foreign exchange reserves of Nepal.
- The Bank is also responsible for supervising and regulating commercial banks and other financial institutions.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Test your knowledge of the Nepal Rastra Bank Act, 2058 (2002) and its amendments. Explore the dates of authentication and publication, as well as the amendments made to the act over the years.
