Nepal Rastra Bank (NRB), the central bank of Nepal has issued a new directive; they have increased the transaction limits to encourage people to transact online for payments and avoid cash as a result of COVID-19 which has been spreading widely around the world.
As per the new directive from Nepal Rastra Bank:
1. For increase of limits on transactions from mobile and internet banking
|Method of Transaction||Daily Limit||Monthly Limit|
|Mobile Banking & QR Code Payment||Rs 1 Lakh||Rs 10 Lakhs|
|Internet Banking (Merchant Payment)||Rs 10 Lakhs||Rs 30 Lakhs|
|Internet Banking (Account Transfer)||Rs 10 Lakhs||Rs 50 Lakhs|
2. For increase of limits on Fund Transfers through Digital Wallets
|Fund Transfers/ Payments||Per Transaction||Daily Limit||Monthly Limit|
|Agent/Sub Agents to Wallets||–||Rs 25,000||Rs 1 Lakh|
|Bank to Wallets||Rs 25,000||Rs 1 Lakh||Rs 5 Lakhs|
|Wallets to Banks||Rs 25,000||Rs 1 Lakh||Rs 5 Lakhs|
|Wallets to Wallets||Rs 25,000||Rs 1 Lakh||Rs 5 Lakhs|
*Users can make payments of any amount to the amount billed by the merchant. However, the unverified users will not be allowed to transact more than NRs 5,000/- per month.
Also, users will not be allowed to withhold more than NRs 25,000 in their wallets overnight.
Read the full directive here: