Section 48: Discount Operation

1) The Bank may conduct discount transactions on the following negotiable instruments submitted by commercial banks and financial institutions that maintain their accounts with the Bank:

(a) A promissory note or bill of exchange signed by at least two parties, including a commercial bank, payable in Nepal within six months.

(b) Debt bond issued by the Government of Nepal or the Bank payable within Nepal and within six months from the date of acquisition by the Bank.

2) The discount rates, terms, conditions, and procedures of operating discount transactions shall be as prescribed by the Bank.