Nepal Rastra Bank (NRB), the central bank of Nepal, has issued a new dictum yesterday which hereby increases the digital transaction limits considering the current Covid-19 outbreak crisis. In order for people to adhere to the current online banking standards and reduce human interaction as much as possible, NRB has decided to advance this directive.
The previous directive had a strict routine for the daily and monthly limits which had a downfall impact on the volume of digital transactions. As per the new instructions, the transaction restrictions on mobile and internet banking, and fund transfer through digital wallets are made more flexible.
The newly issued directive will follow this particular schematic from here on out:
Transactions from Mobile and Internet Banking
Method of Transaction | Daily Limit | Monthly Limit |
Mobile Banking (QR Code Included) | Rs. 1,00,000 | Rs. 10,00,000 |
Internet Banking (Merchant Payment) | Rs. 10,00,000 | Rs. 30,00,000 |
Internet Banking (Account Transfer) | Rs. 10,00,000 | Rs. 50,00,000 |
Fund Transfer Through Digital Wallets
Fund Transfer/Payments | Per Transaction | Daily Limit | Monthly Limit |
Agent/Sub Agent to Wallet | – | Rs. 25,000 | Rs. 1,00,000 |
Bank to Wallets | Rs. 25,000 | Rs. 1,00,000 | Rs. 5,00,000 |
Wallet to Banks | Rs. 25,000 | Rs. 1,00,000 | Rs. 5,00,000 |
Wallet to Wallet | Rs. 25,000 | Rs 1,00,000 | Rs. 5,00,000 |
You can read the full NRB directive below:
READ ALSO: covidnepal.org – An Open Source Platform for COVID-19 for Nepal by Fusemachines
Furthermore, Nepal Bankers Association has decided not to charge fees on transaction made through mobile and internet banking.
Even better, the association has decided to charge no fees while doing inter-bank transactions to further support the government’s decisions. This also typically means that you can now withdraw money from any ATM of any bank; totally free of charges.
Below is the official notice:
Finally, do note that all of these efforts are being done in-order to encourage as less human interaction as possible during this calamity phase. So, do try to use these directives to your best to keep yourself as well as the people around you safe!
READ ALSO: Amidst Covid-19 Outbreak, Internet Speed Becomes Slow in Nepal. Demand and Supply Dilemma!
-
Hero Xtreme 125R, A New Contender in the 125cc Segment, is Coming to NepalHIGHLIGHTS Hero Xtreme 125R price in Nepal is expected to be around Rs. 3 Lakhs.…
-
Motorola Moto G45 5G with Snapdragon 6s Gen 3 SoC Launching Soon in NepalHIGHLIGHTS The Motorola Moto G45 5G price in Nepal is expected to be at Rs.18,999…
-
Hero Xtreme 160R 4V Launching Soon in Nepal: 160cc Scene on Fire!HIGHLIGHTS Hero Xtreme 160R comes with 4-valve technology. It will be the fastest 160cc bike…