Unit - 2 Central Bank and Legal System
Unit - 2 Central Bank and Legal System
Deposit Collection:
(1) The Bank shall accept the deposits of Government of Nepal or other bodies prescribed
by Government of Nepal.
(2) While accepting deposits pursuant to sub-section (1), the Bank shall receive and
disburse monies, keep accounts therein, and provide banking services related thereto.
(3) The Bank may authorize commercial banks and other financial institutions to conduct
the transaction as referred to in sub-section (2) subject to the terms and conditions
prescribed by the Bank.
Functions of Fiscal Agent: The Bank shall, subject to the terms and conditions stipulated
in the agreement entered into with Government of Nepal, act as fiscal agent of Government
of Nepal on the following matters:-
(1) Marketing, purchase and sell of debt bonds issued by Government of Nepal and to act
as registrar and transfer agent therefore;
(2) Payment of the principal, interest and other fees of the debt bonds referred to in sub-
section (1);
(3) Other necessary functions to be carried out as the agent.