Nepal Rastra Bank Proposes New Limits on Monetary Transactions

Nepal Rastra Bank, the central bank of Nepal, has proposed new upper limits on the amounts that can be transferred using mobile and Internet banking technologies, reports OnlineKhabar. The bank has requested other banks and financial institutions to provide comments on the new proposed limit.

The maximum transaction for mobile banking is Rs. 5,000. The daily maximum transaction is Rs. 10,000 while the monthly maximum transaction is Rs. 50,000. Whereas, for Internet banking the upper limit is set as Rs. 1,00,000 for daily transaction and Rs. 5,00,000 for monthly transactions.

The bank also proposed upper limits on money withdrawal using debit card. With the new proposal, a person can withdraw an amount from Rs. 500 to Rs. 25,000 at once time. They can withdraw a maximum amount of Rs. 1,00,000 per day. One card can be used only four times a day.

Likewise, a person can deposit upto Rs. 5,000 a day through e-wallet, mobile wallet or digital wallet technologies. In a month, they can deposit a maximum of Rs. 5,000 a day and Rs. 25,000 a month.