(1) If an internationally rated foreign bank or financial institution wants to open a branch office to conduct banking and financial transactions or non-banking financial transactions within Nepal, it must obtain the approval of the National Bank before opening such a branch office. (2) Sub-section (1) An application shall be submitted to the National Bank along with the capital and documents specified by the National Bank for the purpose. (3) When making an application in accordance with sub-section (2), such foreign bank or financial institution shall, in addition to the details and documents mentioned in sub-section (1) of section 5, submit the following additional documents and The details must also be submitted:- (a) A written commitment made by the board of directors to provide the amount required to fulfill all its obligations in relation to the business operations carried out by the Nepalese branch or representative or liaison office of the foreign bank or financial institution when requested by the National Bank, (b) ) Details of the location of the proposed branch office of the foreign bank or financial institution, (c) Details of the potential office bearers of the proposed branch office of the foreign bank or financial institution. If found, the National Bank may request the necessary documents or details from the concerned applicant. (5) If additional documents as per sub-section (3) and documents as per sub-section (4) are requested, upon receipt of such documents, the National Bank may, upon examination of the application received, deem it appropriate to grant prior approval. Within one hundred and twenty days of the receipt of such an application, whether specific or not, such foreign bank or financial institution may grant approval to open a branch office in Nepal. (6) After obtaining the prior approval as per sub-section (5), such foreign bank or financial institution shall register the branch office in accordance with the prevailing company law. (7) A branch office of a foreign bank or financial institution registered in accordance with sub-section (6) shall carry out banking and financial transactions in Nepal.For rejection, an application should be submitted to the National Bank along with the fees or charges specified by the National Bank, along with the following documents and details:- (a) Registration certificate registered as a branch office in accordance with the prevailing company law for banking and financial transactions in Nepal, (b) a foreign bank or According to the law of the respective country of the financial institution, the approval or consent letter given by the government or central bank or regulatory body of such country to such foreign bank or financial institution to open a branch office in Nepal. After receiving prior approval from the National Bank, if there is any difference in any matter that such foreign bank or financial institution must complete in accordance with this Act, the details thereof, (d) Other information and details as requested by the National Bank. (8) Examination of the application received under subsection (7). If it deems it appropriate to grant approval, the National Bank may grant approval to the branch office of such foreign bank or financial institution to conduct banking and financial transactions in Nepal within ninety days from the date of submission of the application. (10) Banks and financial institutions may open branch offices outside Nepal with the approval of the National Bank. (11) According to sub-section (10), the National Bank will make necessary policies regarding the opening of branch offices outside Nepal from time to time.