Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Nepal Rastra Bank (NRB) has raised the daily limit for payments and fund transfers through mobile banking and other digital payment systems.
Issuing a circular on Wednesday, the central bank has raised the per day limit for mobile banking transaction to Rs 200,000 from Rs 100,000. This revision will now allow clients with internet banking facility to make merchant payment up to Rs 2 million per day, up from previous limit of Rs 1 million.
However, the upper limit does not affect payments and transfers for a number of transactions as listed by the central bank including fund transfer from one account to another account of the same person in the same bank or financial institution, tax payments, utility bill payments and bill payments of schools and colleges, hospitals, airlines and hotels, among others.
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