Section 34
Audit Committee
The Board shall constitute an Audit Committee comprising of the following members which will be accountable to the Board:-
(a) One Director -Convener
(b) Chief of Internal Audit Department of the Bank -Member
(c) One senior officer of the Bank designated by the Board -Member
(a) One Director -Convener
(b) Chief of Internal Audit Department of the Bank -Member
(c) One senior officer of the Bank designated by the Board -Member
Nepal Rastra Bank Act, 2058 (2002)
Chapter - 2
Section 3: Establishment Of The BankSection 4: Objectives Of The BankSection 5: Functions, Duties And Powers Of The BankSection 6: Prior Right Of The BankSection 7: Functions Not To Be Carried Out By The BankSection 8: Privileges And Facilities To The BankSection 9: Relation Between Government Of Nepal And The BankSection 10: Coordination With Public BodiesSection 11: International Cooperation And RelationshipSection 12: Flow Of Public InformationSection 13: Operation Of Accounts
Chapter - 3
Section 14: Formation Of The BoardSection 15: Appointment Of The GovernorSection 16: Appointment Of The Deputy GovernorSection 17: Appointment Of The DirectorsSection 18: Tenure Of Office Of The DirectorsSection 19: Remuneration And Other Benefits Of The DirectorsSection 20: Qualifications Of The DirectorsSection 21: Disqualification Of The DirectorsSection 22: Grounds For Removable Of The Directors From OfficeSection 23: Constitution, Functions And Duties Of Inquiry CommitteeSection 24: Resignation By DirectorSection 25: Public Notification Of Governor’s AppointmentSection 26: Fulfillment Of Vacant Off IceSection 27: Acting GovernorSection 28: Meeting Of The BoardSection 29: Functions, Duties And Powers Of The BoardSection 30: Functions, Duties And Powers Of The GovernorSection 31: Delegation Of PowersSection 32: Prohibition On Vested Personal InterestsSection 33: Management CommitteeSection 34: Audit CommitteeSection 35: Functions, Duties And Powers Of The Audit CommitteeSection 36: Employees Of The BankSection 37: Professional Code Of Conduct And Official ResponsibilitySection 38: Confidentiality
Chapter - 5
Section 44: Monetary PolicySection 45: Operation Of Open MarketSection 46: Compulsory Deposit In Commercial Banks And Financial InstitutionsSection 47: Failure To Maintain Compulsory DepositSection 48: Discount OperationSection 49: Loan And Refinance To Commercial Banks And Financial InstitutionsSection 50: Discount Rate And Rate Of Interest For Refinance
Chapter - 6
Section 51: Monetary UnitSection 52: Power To Issue Banknotes And CoinsSection 53: Banknotes And Coins To Be Acceptable AllSection 54: Measurement, Weights And Size Of CoinsSection 55: Issuance Of Currency And SecuritySection 56: Provisions For Exchange Of CurrencySection 57: Soiled Or Counterfeit CurrencySection 58: Provisions Relating To Currency Inventory And Issuance Of CurrencySection 59: Account Of Issued CurrencySection 60: Currency RecallSection 61: Reproduction And Counterfeiting Of Currency
Chapter - 7
Section 62: Foreign Exchange PolicySection 63: Management Of Foreign ExchangeSection 64: Particulars Of Foreign Exchanges DealingsSection 65: Dealing In Foreign ExchangesSection 66: Foreign Exchange ReserveSection 67: Issuance Of Debt Bond Against Gold And Foreign CurrencySection 68: International Clearing And Payment Agreements
Chapter - 8
Section 69: Banker, Advisor And Financial AgentSection 70: Opinions And Information Relating To External DebtSection 71: Deposit CollectionSection 72: Functions Of Fiscal AgentSection 73: Bank May Ask For Particulars, Statistics And DocumentsSection 74: Consultation On The Matter Of Law ReformSection 75: Credit To Government Of Nepal And Purchase Of Government Debt Bonds
Chapter - 9
Section 76: Bank’s Approval Required For Accepting Deposits Or Giving CreditsSection 76: Bank’s Approval Required For Accepting Deposits Or Giving CreditsSection 77: Restriction On Rate Of InterestSection 77: Restriction On Rate Of InterestSection 78: License To Be Obtained From BankSection 78: License To Be Obtained From BankSection 79: Regulatory Powers Of BankSection 79: Regulatory Powers Of BankSection 80: Banking And Financial System And Credit ControlSection 80: Banking And Financial System And Credit ControlSection 81: Credit To Prescribed SectorsSection 81: Credit To Prescribed SectorsSection 82: Information To Be Furnished To BankSection 82: Information To Be Furnished To BankSection 83: Approval Required To Issue Debentures And Financial InstrumentsSection 83: Approval Required To Issue Debentures And Financial InstrumentsSection 84: Inspection And SupervisionSection 84: Inspection And SupervisionSection 85: Exchange Of Mutual CooperationSection 85: Exchange Of Mutual CooperationSection 86: XxxxxxxSection 86: XxxxxxxSection 86A: Information Need To Provide To The Bank By Commercial Banks And Financial InstitutionsSection 86A: Information Need To Provide To The Bank By Commercial Banks And Financial InstitutionsSection 86B: State Of Problematic Commercial Bank And Financial InstitutionSection 86B: State Of Problematic Commercial Bank And Financial InstitutionSection 86C: Bank Can Take Action Against Problematic Commercial Bank Or Financial InstitutionSection 86C: Bank Can Take Action Against Problematic Commercial Bank Or Financial InstitutionSection 86D: Effect Of The Control Of The Bank To Any Commercial Bank Or Financial InstitutionSection 86D: Effect Of The Control Of The Bank To Any Commercial Bank Or Financial InstitutionSection 86E: The Reformative Measures And Rights Which Can Be Used By The Bank Or The Official Appointed By The BankSection 86E: The Reformative Measures And Rights Which Can Be Used By The Bank Or The Official Appointed By The BankSection 86F: Right Of The Bank For Corrective ActionSection 86F: Right Of The Bank For Corrective ActionSection 86G: Application For The DissolutionSection 86G: Application For The DissolutionSection 86H: Decrease Of The Capital Of Problematic Commercial Bank Or Financial InstitutionSection 86H: Decrease Of The Capital Of Problematic Commercial Bank Or Financial InstitutionSection 86I: Right To Appeal Against The Order Of The BankSection 86I: Right To Appeal Against The Order Of The BankSection 86J: Transfer Of The Assets And Liabilities Of The Problematic Commercial Bank Or Financial InstitutionSection 86K: Basis For Transfer Of The Assets And LiabilitiesSection 86K: Basis For Transfer Of The Assets And LiabilitiesSection 86L: Consequence Of TransferSection 86L: Consequence Of TransferSection 86M: Finality Of The Order Of TransferSection 86M: Finality Of The Order Of TransferSection 86N: Prohibition In Any ActionsSection 86N: Prohibition In Any ActionsSection 87: Establishment Of Information NetworkSection 87: Establishment Of Information NetworkSection 88: Establishment Of Credit Information CenterSection 88: Establishment Of Credit Information Center
Chapter - 11
Section 95: Acts To Be Deemed To Be Offence Under This ActSection 96: PunishmentSection 97: Government Of Nepal To Be PlaintiffSection 98: Bank To Provide InformationSection 99: Fine For Violation Of Bank’s RegulationSection 100: Punishment For Violation Of Bank’s RegulationSection 101: Procedures For Pecuniary Penalty And PunishmentSection 102: Filing Appeals
Chapter - 12
Section 103: Payment, Clearing And SettlementSection 104: Collection Of DataSection 105: Trust AccountsSection 106: Actions Not To Be InvalidSection 107: No Responsibility For Acts Done On Good FaithSection 108: Oath Of OfficeSection 109: This Act To Be ApplicableSection 110: Power To Frame Rules And Bye-lawsSection 111: Guidelines To Be Framed And IntroducedSection 112: Repeal And Saving