Banking and Financial Institutions

(d) All of the above

Remittance refers to the money sent by overseas Nepali citizens back to Nepal through any medium — whether through the banking system (formal channels), through non-banking channels (such as hundi or other informal transfer systems), or carried by hand. In the broader economic sense, all these transfers are considered remittance.

(d) माथिका सबै

रेमिट्यान्स भन्नाले विदेशमा रहेका नेपाली नागरिकले स्वदेशमा रहेका आफन्त वा नातेदारलाई पठाउने रकम वा वस्तुलाई जनाउँछ। यो रकम बैंकिङ प्रणाली (बैंक, वित्तीय संस्था, रेमिट्यान्स कम्पनी) वा गैरबैंकिङ प्रणाली (हुन्डी, व्यक्तिगत रूपमा हातहात) दुवै माध्यमबाट पठाउन सकिन्छ। त्यसैले विकल्प (d) माथिका सबै सही उत्तर हो।

The question asks which of the listed measures is included in the definition of money changes or potential money changes by Nepal Rastra Bank to control money business.

Nepal Rastra Bank defines monetary aggregates as:

• M1 = currency in circulation + demand deposits
• M2 = M1 + time deposits
• M3 = M2 + other deposits

All these measures are used in monetary management and control. Therefore, the correct answer is:

(d) All of the above

(d) माथिका सबै

विदेशी मुद्रा विनिमय कारोबार पूर्ण रूपमा गर्ने 'क' वर्गका वाणिज्य बैंकहरू हुन् भने नेपाल राष्ट्र बैंकबाट इजाजतपत्र (स्वीकृति) लिएर 'ख' र 'ग' वर्गका संस्थाले पनि सीमित रूपमा यस्तो कारोबार गर्न सक्छन्। यसैले 'ख' वा 'ग' मध्ये कुनै एक मात्र भन्न मिल्दैन र सबै विकल्प समेटिन्छन्।

(c) Rs. 5,000

A money changer that wishes to deal in convertible foreign currency must pay Rs. 5,000 to Nepal Rastra Bank to obtain its licence, under the licensing rules made under the Foreign Exchange (Regulation) Act, 2019 BS. The fee for dealing only in Indian currency is lower.

(c) रु. ५,०००

परिवर्तनीय विदेशी मुद्राको विनिमय कारोबार गर्ने मनी चेन्जरले इजाजतपत्र प्राप्त गर्न नेपाल राष्ट्र बैंकमा रु. ५,००० बुझाउनु पर्छ। भारतीय मुद्रा मात्र साट्ने इजाजतपत्रको शुल्क यसभन्दा कम हुन्छ।

The Money Changer Bylaws in Nepal are issued under the Foreign Exchange (Regulation) Act, 2019 (which came into force in 1963/2019 BS), not the Nepal Rastra Bank Act, 2058. The NRB Act empowers the central bank generally, but the specific legal basis for money changer bylaws is the Foreign Exchange (Regulation) Act.

(c) Foreign Exchange (Regulation) Act, 2019

Nepal Rastra Bank issues the Money Changer Bylaws under the authority of the Foreign Exchange (Regulation) Act, 2019 (1963), which governs foreign exchange transactions and empowers the central bank to license, regulate and supervise money changers. The Nepal Rastra Bank Act, 2058 provides the general framework for the central bank's functions, while BAFIA, 2073 governs banks and financial institutions, not money changers.

(c) विदेशी मुद्रा (नियमित गर्ने) ऐन, २०१९

नेपाल राष्ट्र बैंकले विदेशी मुद्रा विनिमय कारोबार नियमित तथा व्यवस्थापन गर्न विदेशी मुद्रा (नियमित गर्ने) ऐन, २०१९ अन्तर्गत निर्देशन जारी गर्दछ। यसै ऐनले विदेशी मुद्राको कारोबार, विनिमय दर र विदेशी विनिमयको व्यवस्थापनको कानूनी आधार प्रदान गर्दछ।

(b) Rs. 2 crore

Under the Nepal Rastra Bank foreign exchange directive, a firm, company or institution that applies for a remittance licence and operates as a public limited company must have a paid-up capital of at least Rs. 2 crore.

(ख) रु. २ करोड

नेपाल राष्ट्र बैंकको विदेशी विनिमय सम्बन्धी निर्देशनअनुसार रेमिट्यान्स कारोबार गर्न चाहने सार्वजनिक लिमिटेड कम्पनीको न्यूनतम चुक्ता पुँजी रु. २ करोड हुनुपर्छ।

(b) Nepal Rastra Bank

Monetary policy is issued by the central bank of the country. In Nepal, Nepal Rastra Bank is the central bank, so it formulates and issues the Monetary Policy. The Government of Nepal only gives policy direction and approves the target, while the National Planning Commission deals with development planning and the Federal Parliament makes laws.

(ख) नेपाल राष्ट्र बैंक

नेपाल राष्ट्र बैंक ऐन, २०५८ बमोजिम देशको मौद्रिक नीति तय तथा कार्यान्वयन गर्ने अधिकार नेपाल राष्ट्र बैंकलाई मात्र छ। नेपाल सरकारले आर्थिक नीति बनाउँछ र राष्ट्रिय योजना आयोगले योजना तर्जुमा गर्छ, तर मौद्रिक नीति भने केन्द्रीय बैंकले जारी गर्दछ।

(c) Chairperson of Board of Directors

The Audit Committee in a bank or financial institution is constituted by the Board of Directors and is chaired by the Chairperson of the Board of Directors (or a non-executive director designated by the Board), not by the CEO or Managing Director, who are part of the management being audited.

(c) सञ्चालक समितिको अध्यक्ष

बैंक तथा वित्तीय संस्था ऐन, २०७३ तथा नेपाल राष्ट्र बैंकको निर्देशन अनुसार लेखा परीक्षण समिति सञ्चालक समितिको अध्यक्षको संयोजकत्वमा गठन गरिन्छ। उक्त समितिमा कम्तीमा दुई जना स्वतन्त्र सञ्चालक समेत रहने व्यवस्था छ।

(b) Recording

The primary function of an accounting system is to identify and record financial transactions in the books of account (journal, subsidiary books) as they occur. Vouching and ledger posting are later steps in the accounting cycle that follow recording.