Commercial banks are A-Class financial institutions in Nepal which are the main driving force of the business activities. As they have more authority from the central bank to engage deeply into the financial activities they provide broader arrays of financial services to the individuals and institutions. All types of financial institutions are regulated by the Central Bank including the list of commercial bank in Nepal that we have provided below;
Although 3 dozen commercial banks established in the country now only 27 have remained, because, the big merger had occurred a result of the central bank policy. We have published here the latest list of commercial banks in Nepal.
Main Roles and function of commercial bank in Nepal
- Accept deposits or mobilize deposits through various financial instruments and make payment with or without interest.
- Accepting deposits, making payments, having transactions, carry on intermediary services and transfer funds through various electronic instruments or devices,
- lend loans including hire-purchase, leasing, housing, and overdrafts.
- To lend loans on the guarantee of a foreign bank or financial institution,
- supply or managing loans from the amount received from the Government of Nepal or other native or foreign agency for the promotion of a project,
- Write-off credits subject to the prevailing credits write-off Bylaws,
- Issue shares, debenture, debenture bond purpose of meeting capital.
- The issue, accept, pay, discount or purchase and sell letters of credit, bills of exchange, promissory notes, cheques, traveler’s cheques, drafts as well as other financial instruments,
- The issue, accept and manage digital card or other instruments for electronic transactions and appointing agents for carrying out acts relating thereto,
- Carry out foreign exchange business subject to the prevailing laws,
- Carry on government transactions subject to the limits, terms and conditions or direction of the Rastra Bank,
- Purchase, sell or accept treasury bills issued by Government of Nepal or bonds issued by the Rastra Bank,
- Take responsibility for and arranging for the sale or purchase of shares, debentures or securities; collecting interest, dividends, etc.
- Earning from shares, debentures or securities; remitting or transmitting such interests or dividends to places within or outside Nepal.
- Arranging safe deposit vaults for customers acting as a commission agent of its customers,
- To carry on off-balance-sheet transactions,
- Buy and sell gold and silver bullions,
- Manage properly or sell its assets of every type to come under its own according to this Act and the prevailing laws,
- To perform other functions as may be prescribed by the Rastra Bank
list of commercial bank in Nepal.[table id=10 /]
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List of development banks in Nepal