Section 37: Classification of Bank or Financial Institution

The Rastra Bank shall, based on the minimum paid-up capital of the bank or financial institution submitting application pursuant to Section 33 for carrying on banking and financial transactions and transactions to be operated on by such bank or financial institution and working areas, classify banks or financial institutions in classes “A”, “B”, “C” and “D” and issue license to concerned banks or financial institutions accordingly.

Provided that an infrastructure development bank shall not be classified in any class.