Payment and Settlement Act, 2075

Purpose: Development, expansion, promotion, oversight and regulation of the national payment, clearing and settlement system. Authenticated 2075/12/04 as Act No. 31 of 2075.

Structure: 8 chapters, Sections 1-47.

Key provisions:

• Section 2: defines licence, RTGS and other payment terms.
• Section 3: National Payment Board chaired by the NRB Governor, with the Finance Secretary, the Financial Comptroller General and others.
• Section 5: no one may operate a payment system or act as a payment service provider without an NRB licence.
• Section 6: a PSO or PSP must be a company; BFIs need not form a new company.
• Sections 7-9: letter of intent, application and licence; Section 13: licence term and renewal.
• Section 33: settlement finality: once settled, a payment cannot be reversed.
• Section 34: high-value and critical payments are settled through RTGS as NRB specifies.
• Sections 35-41: actions, offences and punishment; Sections 43-44: dispute settlement.

The Act also amended the NRB Act, 2058.

Wallets, payment switches, ConnectIPS operators and card networks in Nepal operate under licences issued under this Act, and NRB's Payment Systems Department supervises them.

उद्देश्य: मुलुकको भुक्तानी, समाशोधन तथा फर्स्यौट प्रणालीको विकास, विस्तार, प्रवर्द्धन, निगरानी र नियमन। प्रमाणीकरण २०७५।१२।०४, ऐन नं. ३१।

संरचना: ८ परिच्छेद, दफा १ देखि ४७।

मुख्य व्यवस्था:

• दफा ३: गभर्नरको अध्यक्षतामा राष्ट्रिय भुक्तानी बोर्ड।
• दफा ५: राष्ट्र बैङ्कको अनुमतिपत्र नलिई भुक्तानी प्रणाली सञ्चालन वा भुक्तानी सेवा प्रदायकको काम गर्न नहुने।
• दफा ६: कम्पनी स्थापना गर्नुपर्ने; बैङ्क तथा वित्तीय संस्थालाई छुट।
• दफा ७-९: आशयपत्र, निवेदन र अनुमतिपत्र; दफा १३: अवधि र नवीकरण।
• दफा ३३: अन्तिम फर्स्यौट भएपछि भुक्तानी फिर्ता हुन नसक्ने।
• दफा ३४: ठूलो मूल्य र अति जरुरी भुक्तानी आरटीजीएसबाट फर्स्यौट।
• दफा ३५-४१: कारबाही, कसूर र सजाय; दफा ४३-४४: विवाद समाधान।

डिजिटल वालेट, पेमेन्ट स्विच, कनेक्टआईपीएस तथा कार्ड सञ्जालहरू यसै ऐन अन्तर्गतको अनुमतिपत्रमा सञ्चालित छन्।