The Election Commission (EC), Nepal has requested Nepal Rastra Bank (NRB) to ensure that political parties and candidates open dedicated bank accounts for the upcoming House of Representatives (HoR) elections.
This move aims to streamline financial transparency and enforce the Election Code of Conduct. Under the new provisions, all election-related expenditures must be processed through these specific accounts.
Both political parties and individual candidates are required to open separate bank accounts solely for election expenses. Parties and candidates must appoint a designated official responsible for managing the account. Their details must be submitted to the Office of the Election Officer.
Any financial contribution exceeding Rs 25,000 must be made through formal banking or financial institutions. Similarly, Voluntary cash donations from individuals or organizations must be acknowledged with an official receipt and immediately deposited into the designated party or candidate account.
The EC has requested the central bank to ensure these accounts remain active and are not closed until the Commission provides formal clearance following the conclusion of the elections.
The Commission's directive to the NRB is a strategic step to curb informal spending and ensure that all campaign financing is trackable and accountable.
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