Kathmandu. KATHMANDU: The government has registered a bill designed to amend the Nepal Rastra Bank Act-2058 BS at the Federal Parliament. The government has registered the bill designed to amend the Nepal Rastra Bank Act, 2058 BS in the federal parliament with the objective of making the Nepal Rastra Bank more autonomous, accountable and technology-friendly.
The bill registered by the Ministry of Finance in the House of Representatives on Monday has proposed extensive amendments to the central bank’s role, structure, regulatory powers, digital financial system and financial stability.
The government has forwarded the process to amend the existing acts keeping in mind the changes in the national and international economic and financial sector, expansion of financial system, rapid use of digital technology and the changing role of the central bank.
According to the Ministry of Finance, the bill has been prepared for legal reforms to make the existing Act more effective by clarifying the provisions that create ambiguity and difficulties in practice.
