New bank to organize electronic payment system

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The Nepal National Bank has set a limit to the bank’s digital business to make money business systematic and transparent. The Nepal National Bank has tightened the border with digital business. The National Bank has issued new instructions by making the electronic payment system stronger. Deputy Minister of Nepal National Bank, Chintamani  Sivakoti, has informed that new arrangement has been implemented on electronic payment system by intervening all parties and international practices.

The limit has been set to organize the business by issuing bank credit card, debit card, prepaid card and mobile banking and internet banking services and other electronic means, which will be paid in Nepali currency, according to Section 103 of Nepal National Bank of India, 2058.

The new bank issued new instructions to organize electronic payment system

hands texting with mobile phones in cafe
  • Reduce the withdrawal of debit and credit card,
  • No Debit cards are used to be used at ATM at once to get more than 25 thousand rupees,
  • Using a Davit Card ATM daily can be extracted 1 million,
  • Only 4 times a day will be able to withdraw money from the ATM daily,
  • Not to take 25 percent more money from credit card,
  • One-time payment from mobile banking to 5 thousand rupees and maximum up to 10 thousand daily,
  • Due to payment from internet banking, a daily up to one lakh and monthly up to 10 lakhs,
  • Remittances sent by relatives from abroad will be paid only one lakh at a time,
  • Business can be traded through different wallet at a time of up to 5 thousand per day, 10 thousand per day and monthly wages up to Rs 25,000,