NRB Instructs not to Open Letter of Credit (LC) for the Purpose of Importing Banned Products Till Ashoj 28

As per Nepal Rastra Bank's instructions, no letters of credit (LC) should be opened for the purpose of importing non-essential products till at least Ashoj 28.

The Central Bank has been directed not to open the LC for 4 products for which the government has outlawed importation.

Last Monday, the government decided to forbid the import of 4 out of 10 commodities by publishing a notice in the Gazette. The NRB has sent a notification to banks and financial institutions on Thursday in order to comply with that decision.

The government had banned the import of 10 different items from last Baisakh 13th. The restrictions imposed till Bhadra 14 have been relaxed to some extent as the government uplifted the ban of products such as kurkure, lays, cigarette, TV, diamond, playing cards, and toys.

However, the government has decided to continue the ban on the import of vehicles, motorcycles, mobile phones, and alcohol till Ashoj 28.