Section 52
Power Of Rastra Bank To Inspect And Supervise
(1) The Rastra Bank may inspect and supervise, or cause to be inspected and supervised, any office of a licensed institution at any time. The Rastra Bank may carry out such inspection and supervision operations by deputing any of its officers or any expert designated by it to the concerned office (on-site) or by requisitioning detailed statements and information to be furnished to it (off-site).
(2) It shall be the duty of the licensed institution concerned or the concerned officer of such licensed institution to provide, and allow inspection or examination of, such records, data, particulars, information, programs created through electronic media, statements and financial control system or any other necessary document as demanded by the officer or expert or the Rastra Bank carrying out inspection and supervision pursuant to Sub-section (1) to, and by, such officer, expert or the Rastra Bank within such time as specified by such officer, expert or the Rastra Bank.
(3) The Rastra Bank or the officer carrying out inspection and supervision pursuant to this Section may cause any officer or employee of the licensed institution concerned to make deposition in writing in respect of any acts and actions considered necessary in the course of such inspection and supervision.
(4) If the officer carrying out inspection and supervision pursuant to this Section so deems necessary in the course of such inspection and supervision, he or she may affix his or her seal on the treasuries, accounts, records, books, ledgers and other documents of the licensed institution concerned as well as on the warehouses pledged to it as security and cause the licensed institution concerned to hold the same under its custody.
(5) The Rastra Bank or the officer carrying out inspection and supervision may give necessary directives to the licensed institution concerned in respect of the matters considered necessary in the course of carrying out inspection and supervision. It shall be the duty of the licensed institution concerned to comply with the directives so given by the Rastra Bank or the officer carrying out inspection and supervision. The officer carrying out inspection and supervision shall, as soon as possible, provide the Rastra Bank with the information of the directives so given.
(2) It shall be the duty of the licensed institution concerned or the concerned officer of such licensed institution to provide, and allow inspection or examination of, such records, data, particulars, information, programs created through electronic media, statements and financial control system or any other necessary document as demanded by the officer or expert or the Rastra Bank carrying out inspection and supervision pursuant to Sub-section (1) to, and by, such officer, expert or the Rastra Bank within such time as specified by such officer, expert or the Rastra Bank.
(3) The Rastra Bank or the officer carrying out inspection and supervision pursuant to this Section may cause any officer or employee of the licensed institution concerned to make deposition in writing in respect of any acts and actions considered necessary in the course of such inspection and supervision.
(4) If the officer carrying out inspection and supervision pursuant to this Section so deems necessary in the course of such inspection and supervision, he or she may affix his or her seal on the treasuries, accounts, records, books, ledgers and other documents of the licensed institution concerned as well as on the warehouses pledged to it as security and cause the licensed institution concerned to hold the same under its custody.
(5) The Rastra Bank or the officer carrying out inspection and supervision may give necessary directives to the licensed institution concerned in respect of the matters considered necessary in the course of carrying out inspection and supervision. It shall be the duty of the licensed institution concerned to comply with the directives so given by the Rastra Bank or the officer carrying out inspection and supervision. The officer carrying out inspection and supervision shall, as soon as possible, provide the Rastra Bank with the information of the directives so given.