Section 3: Establishment of the Bank

1) There shall be a Central Bank established in the name of Nepal Rastra Bank in order to carry out the functions of a Central Bank.

2) The Nepal Rastra Bank established under the Nepal Rastra Bank Act, 2012 (1955) shall be deemed to have been established under this Act.

3) The Bank shall be an autonomous and corporate body with perpetual succession.

4) There shall be a separate seal for the transaction of the Bank’s business.

5) The Bank may, subject to this Act, acquire, utilise, retain, sell, and otherwise dispose of or manage movable and immovable property.

6) The Bank may be sued in its name, and it may also be sued under the same name.

7) The Central Office of the Bank shall be located in Kathmandu. The Bank may establish branches, sub-branches, and other offices at any location within and outside Nepal, and appoint agents or representatives as required.