You are viewing the translated version of परिभाषा.
Section 2
Definition
In this Act, unless the context or the context otherwise requires,–
(a) "Permit" means a permit granted under section 9 to operate a payment system or provide payment services.
(b) "RTGS (Real Time Gross Settlement System)" means the reconciliation of accounts by depositing or spending money in the bank account of the concerned party by means of an automated electronic system in real time for each transaction related to the payment of large amounts and urgent payments as specified by the bank. The system to be done should be remembered.
(c) "Prescribed" or "as prescribed" means prescribed or prescribed in the regulations made or instructions issued under this Act.
(d) "Settlement" means the act or process of settling the claims or liabilities of the parties issuing and accepting the payment instrument according to the prevailing system or system.
(e) “High Value” means the amount determined by the Bank from time to time as High Value or more.
(f) "Bank" means the Nepal Rastra Bank established under the Nepal Rastra Bank Act, 2058.
(G) "Banks and Financial Institutions" shall mean banks and financial institutions established in accordance with the Banking and Financial Institutions Act, 2073.
(h) “Board” means the National Payments Board constituted under section 3.
(i) “Payment instrument” means the payment instrument referred to in section 31.
(j) "Payment system" means a system for payment, settlement or settlement of any type of payment claim or liability between a customer, institution or bank through a payment instrument.
(k) “Payment System Operator” means a payment relationship;It means an organization that operates, manages and clears operations and the term also refers to an organization that operates a clearing house, electronic card or other electronic (online) payment network.
(l) "Payment service provider" means an organization that provides payment services to the customer and that term means payment for goods, services, assets or other obligations between the organization and the customer, transfer of funds at home and abroad or payment by electronic means. It also refers to the organization that conducts business.
(d) "Institution" shall mean an institution established as a company in accordance with sub-section (1) of section 6 and granted a license in accordance with section 9 and the term also refers to banks and financial institutions.
(l) "Communication service provider" means a company established in accordance with the prevailing law that provides electronic information and communication services such as telephone, mobile and internet services.
(n) "Settlement Bank" means a bank contracted by the organization in accordance with section 12 for the purpose of settlement of financial transactions related to payment, settlement and payment of obligations.
(a) "Permit" means a permit granted under section 9 to operate a payment system or provide payment services.
(b) "RTGS (Real Time Gross Settlement System)" means the reconciliation of accounts by depositing or spending money in the bank account of the concerned party by means of an automated electronic system in real time for each transaction related to the payment of large amounts and urgent payments as specified by the bank. The system to be done should be remembered.
(c) "Prescribed" or "as prescribed" means prescribed or prescribed in the regulations made or instructions issued under this Act.
(d) "Settlement" means the act or process of settling the claims or liabilities of the parties issuing and accepting the payment instrument according to the prevailing system or system.
(e) “High Value” means the amount determined by the Bank from time to time as High Value or more.
(f) "Bank" means the Nepal Rastra Bank established under the Nepal Rastra Bank Act, 2058.
(G) "Banks and Financial Institutions" shall mean banks and financial institutions established in accordance with the Banking and Financial Institutions Act, 2073.
(h) “Board” means the National Payments Board constituted under section 3.
(i) “Payment instrument” means the payment instrument referred to in section 31.
(j) "Payment system" means a system for payment, settlement or settlement of any type of payment claim or liability between a customer, institution or bank through a payment instrument.
(k) “Payment System Operator” means a payment relationship;It means an organization that operates, manages and clears operations and the term also refers to an organization that operates a clearing house, electronic card or other electronic (online) payment network.
(l) "Payment service provider" means an organization that provides payment services to the customer and that term means payment for goods, services, assets or other obligations between the organization and the customer, transfer of funds at home and abroad or payment by electronic means. It also refers to the organization that conducts business.
(d) "Institution" shall mean an institution established as a company in accordance with sub-section (1) of section 6 and granted a license in accordance with section 9 and the term also refers to banks and financial institutions.
(l) "Communication service provider" means a company established in accordance with the prevailing law that provides electronic information and communication services such as telephone, mobile and internet services.
(n) "Settlement Bank" means a bank contracted by the organization in accordance with section 12 for the purpose of settlement of financial transactions related to payment, settlement and payment of obligations.