(1) No one shall use the name of a bank or financial institution for the purpose of banking and financial transactions without obtaining the approval of the National Bank. (2) A bank or financial institution licensed to conduct banking and financial transactions as per Section 49 of this Act and a foreign bank or financial institution opening a branch office in Nepal. No person, company or organization other than a bank or financial institution shall use the words 'bank', 'banking', finance, financial or other similar meaning, adjectives or similar words with its name without obtaining prior approval from the National Bank. (3) Notwithstanding anything written in sub-section (2), the provision mentioned in sub-section (2) shall not apply to the following organizations:- (a) any organization established or recognized in accordance with prevailing law or international agreement or custom, (b) prevailing law (4) Notwithstanding anything written in sub-section (2), any bank or financial institution which has obtained approval to conduct financial transactions in accordance with the laws in force at the time of commencement of this Act shall not carry out such transactions. Financial transactions can be done using the name that was in place at the time of obtaining the approval. (5) Financial institutions of "B", "C" and "D" categories shall use the names Bikas Bank, Finance Company and Microfinance Financial Institution respectively. 6) Licensed organizations using the name Micro Finance Development Bank before the commencement of this Act shall use the name as per sub-section (5) after the commencement of this Act.