Mobile banking transaction can be done up-to 2 lakh per day

Kathmandu, March 4

Nepal Rastra Bank has doubled the limit of financial transactions.

On Wednesday, Nepal Rastra Bank (NRB) issued a circular to banks and financial institutions informing them of the increase in the limit of electronic cash transactions.

The maximum limit of mobile banking, internet banking (merchant payment and account transfer) has been increased, said NRB. Now, up to Rs 200,000 per day can be transacted through mobile banking. Earlier, the NRB had made arrangements for transactions up to a maximum of Rs 1 lakh per day.

Similarly, the maximum limit of internet banking (merchant payment and account transfer) has been fixed at Rs 2 million. Earlier, internet banking (merchant payment) and internet banking (account transfer) were allowed to transact up to Rs 1 million per day..

Similarly, it is mentioned in the circular that the payment of tax, revenue, fine, vehicle fee, registration and service fee to the concerned office of the Government of Nepal will not be stopped. There is no limit in the circular for payment of electricity, telecommunication, drinking water, insurance premium and social security allowance.

NRB has not imposed any restrictions on educational institutions, health institutions (hospitals / nursing homes and diagnostic centers), air services, transportation and hotel and restaurant business. There is no limit in the circular to pay the amount to the designated bank account with the securities brokers who are licensed to trade securities.