Bafia 2073 contains following points about the functions, duties and powers of boards:

• All functions to be perfomed and all power to be exercised by the bank or financial institution, other than those to be performed by the general meeting of shareholders, shall be performed and exercised by the board,subject to the act, laws in force and the memorandum of association and articles of associations.
• The board shall ensure the welfare of depositors and general public through corporate governance and not interfere in daily transactions like accepting deposites, disbursing loans, employeee management and budget expenses.
• Other functions of board shall be:

1. The baord may frame necessary bye-laws,directives and policies in accordance to the laws and directives of NRB.
2. Prepare and implement the internal control system and risk management system for the smooth functioning of the bank or financial institution.
3. Manage policies for regular functioning of a bank or financial institution and monitor for the same.
4. Prepare organizational structure, formulate policies and implement them.
5. Prepare annual report and audit report to present in the annual general meeting.
6. Prepare other funcitons as prescribed by NRB.