Section 119: Exemption and facilities

1) Any mortgage deed of movable or immovable assets to be made for credit not exceeding one million rupees supplied by a bank or financial institution to any citizen of Nepal or any institution established in accordance with the laws in force for agriculture, cottage and small-scale industry, irrigation, hydropower generation and for any other enterprise as specified by the Government of Nepal shall not be required to make registration.

2) The repayment period of the credit and deposits shall be as prescribed by the bank or financial institution.

3) No revenue stamp fee shall be charged on any deeds or documents related to the bank or financial institution.