Election Commission Urges Nepal Rastra Bank to Facilitate Separate Bank Accounts for Candidates

The Election Commission has urged Nepal Rastra Bank to facilitate the operation of bank accounts for candidates contesting the House of Representatives elections.

In an official letter to the central bank, the Commission requested support for the effective implementation of legal provisions requiring all election-related expenses to be conducted mandatorily through bank accounts. The Commission also emphasized the need to designate responsible officials for managing and authorizing election expenditures.

According to Section 16 of the Election Code of Conduct, 2073, issued under Section 23 of the Election Commission Act, 2073, candidates are required to conduct all election-related income and expenditures exclusively through a separate bank account opened in a bank or financial institution. Similarly, political parties must open separate bank accounts for election expenses and carry out expenditures through officials designated by the party.

The Commission stated that any financial contribution exceeding NPR 25,000 must be received compulsorily through banks or financial institutions. In cases where voluntary cash donations are received from individuals or institutions, a receipt or voucher must be issued. Contributions received in the name of political parties must be deposited into the party’s bank account, while contributions received in the name of candidates must be deposited into the respective candidates’ bank accounts.

The Commission noted that these measures are intended to ensure elections are clean, fair, economical, and transparent. To this end, it has requested Nepal Rastra Bank to assist political parties and candidates in opening the required bank accounts.

According to the Commission, the provisions will also apply to candidates under the proportional representation electoral system. Bank accounts opened in the names of political parties and independent candidates under both electoral systems will remain operational until the Commission issues formal instructions for their closure after the completion of the general election.

To ensure transparency in election-related income and expenditures, the Election Commission has formally requested Nepal Rastra Bank to make arrangements for opening one separate bank account for each political party and one bank account for each candidate.