Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
We want to connect the people who have knowledge to the people who need it, to bring together people with different perspectives so they can understand each other better, and to empower everyone to share their knowledge.
Highlight the important provision made in NRB Act 2058.
The main provisions of Nepal Rastra Bank Act 2058 are: Provision related to short title and commencement. '''' Establishment, objectives and functions duties and powers. Formation and functions, duties and powers of board. Financial provisions. Monetary functions and operation of Open market. MonetaRead more
The main provisions of Nepal Rastra Bank Act 2058 are:
- Provision related to short title and commencement.
- ”” Establishment, objectives and functions duties and powers.
- Formation and functions, duties and powers of board.
- Financial provisions.
- Monetary functions and operation of Open market.
- Monetary unit, Banknote and coins.
- Foreign exchange policy, regulations and reserve
- Relation with Government of Nepal
- Regulations Inspections and supervision of the banks.
- Resolutions
- Balance sheet, auditing, and report
- functions not to be carried out by the bank.
- Privileges and facilities to the bank.
See lessWhat are the features of NRB Act 2058?
The features of NRB act, 2058 are: To establish a Nepal Rastra Bank to function as the central bank to maintain stability of price , the balance of payment, and stability of the entire financial sector to support sustainable development of Nepal is objective of the act. Classification of various banRead more
The features of NRB act, 2058 are:
- To establish a Nepal Rastra Bank to function as the central bank to maintain stability of price , the balance of payment, and stability of the entire financial sector to support sustainable development of Nepal is objective of the act.
- Classification of various banking terms like currency note, letter of credit, promissory note etc.
- Establishment of objectives, functions , duties and power of NRB is clearly defined.
- Prior rights and functions not to be carried out by NRB are clearly defined.
- Provision related to formation and function duties , power of BOD , management committee, and audit committee are defined.
- Qualtifications and disqualifications of the directors are clearly defined.
- Provision related to appointment of governer , deputy governer , director are clearly defined.
- Provision related to capital of NRB shall be received from GON are defined.
- Right to operate the open market transactions.
- Issue note bank and coins.
- Formulate, implement, and management of foreign exchange policy.
- The act provides NRB full power to formulate and implement the monetary policy of Nepal
- Provide NRB full power to regulate the functions and activities of banks and financial institutions.
See less