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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 wallet overnight. 

Read the full directive here:

NRB

NRB