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NRB Increases Daily & Monthly Limits on Digital Transactions in Response to COVID-19

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 TransactionDaily LimitMonthly Limit
Mobile Banking (QR Code Included)Rs. 1,00,000Rs. 10,00,000
Internet Banking (Merchant Payment)Rs. 10,00,000Rs. 30,00,000
Internet Banking (Account Transfer)Rs. 10,00,000Rs. 50,00,000

Fund Transfer Through Digital Wallets

Fund Transfer/PaymentsPer TransactionDaily LimitMonthly Limit
Agent/Sub Agent to WalletRs. 25,000Rs. 1,00,000
Bank to WalletsRs. 25,000Rs. 1,00,000Rs. 5,00,000
Wallet to BanksRs. 25,000Rs. 1,00,000Rs. 5,00,000
Wallet to WalletRs. 25,000Rs 1,00,000Rs. 5,00,000

You can read the full NRB directive below:

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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!


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