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Section 48
Discount transactions

(1) The bank may conduct discount transactions on the following negotiable instruments submitted by the commercial banks and financial institutions with which it has accounts:-(a) A promissory note or bill of exchange signed by at least two parties, including the commercial bank, to be paid within 6 months in Nepal ………….. (b) Bonds issued by the Government of Nepal or a bank to be repaid within 6 months from the date of receipt by the bank. (2) The discount rate, conditions and procedures applicable for discount transactions shall be as specified by the bank.