Section 29
Functions, Duties And Powers Of The Board
The functions, duties and powers of the Board shall be as follows:
(a) To frame monetary and foreign exchange policies;
(b) To take necessary decisions with regard to the denominations of bank notes and coins, the figures, size, metal, materials for printing notes, and other
materials; and to frame appropriate policies with regard to their issue;
(c) To frame necessary policies for causing the supervision and inspection of commercial banks and financial institutions and banking and financial arrangement.
(d) To approve Rules and Bye-laws of the Bank and to frame policies applicable to the operation and management of the Bank;
(e) To frame policies with regard to the appointment, promotion, transfer, dismissal, remuneration, pension, gratuity, provident fund, leave, code of conduct and
other terms and conditions relating to the service of the employees of the Bank;
(f) To approve the annual programs and budget of the Bank and the annual auditing of accounts, and to submit its report to Government of Nepal for information;
(g) To approve the annual report on the activities of the Bank;
(h) To frame necessary policy for the issue of license to commercial banks and financial institutions and for revoking such license;
(i) To approve the limit of the loan to be provided to Government of Nepal by the Bank;
(j) To fix the amount, limit and terms and conditions of the loan and refinance which the Bank provides to the commercial banks and financial institutions;
(k) To make decision with regard to the Bank’s membership to international organizations, associations;
(l) To frame policy for the mobilization and investment of Bank’s financial resource;
(m) To submit proposal to Government of Nepal along with the reasons there for if it is necessary to make amendment to this Act;
(n) To take decision on all other matters excluding the matters which are within the authority of Governor under this Act; and
(o) To delegate the powers vested on the Board to the Governor or the subcommittee constituted by the Board with or without fixing the time limit.
(a) To frame monetary and foreign exchange policies;
(b) To take necessary decisions with regard to the denominations of bank notes and coins, the figures, size, metal, materials for printing notes, and other
materials; and to frame appropriate policies with regard to their issue;
(c) To frame necessary policies for causing the supervision and inspection of commercial banks and financial institutions and banking and financial arrangement.
(d) To approve Rules and Bye-laws of the Bank and to frame policies applicable to the operation and management of the Bank;
(e) To frame policies with regard to the appointment, promotion, transfer, dismissal, remuneration, pension, gratuity, provident fund, leave, code of conduct and
other terms and conditions relating to the service of the employees of the Bank;
(f) To approve the annual programs and budget of the Bank and the annual auditing of accounts, and to submit its report to Government of Nepal for information;
(g) To approve the annual report on the activities of the Bank;
(h) To frame necessary policy for the issue of license to commercial banks and financial institutions and for revoking such license;
(i) To approve the limit of the loan to be provided to Government of Nepal by the Bank;
(j) To fix the amount, limit and terms and conditions of the loan and refinance which the Bank provides to the commercial banks and financial institutions;
(k) To make decision with regard to the Bank’s membership to international organizations, associations;
(l) To frame policy for the mobilization and investment of Bank’s financial resource;
(m) To submit proposal to Government of Nepal along with the reasons there for if it is necessary to make amendment to this Act;
(n) To take decision on all other matters excluding the matters which are within the authority of Governor under this Act; and
(o) To delegate the powers vested on the Board to the Governor or the subcommittee constituted by the Board with or without fixing the time limit.