NIC ASIA Bank Urges Customers to Update PAN and Email for Compliance and Digital Efficiency

NIC ASIA Bank has issued a public notice urging all customers to promptly update their Permanent Account Number (PAN) and email address. The bank emphasized that the PAN update is a mandatory legal requirement under the Income Tax Act, 2058, ensuring proper recording of Tax Deducted at Source (TDS) in Nepal’s electronic tax system (E-TDS). This update enables automated tax matching, easy access to tax certificates, and compliance assurance.

Failure to update may cause discrepancies in customers’ tax records, for which the bank will not be held responsible. Alongside PAN updates, customers are encouraged to update their email addresses to enhance digital communication, receive e-statements, and ensure secure banking.

To simplify the process, the bank offers multiple update options, via its online portal, MoBank mobile app, Video KYC system, or any branch nationwide. The initiative reflects NIC ASIA’s commitment to combining regulatory compliance with customer convenience and digital transformation.