Nepal Rastra Bank directs payment service providers to submit audited report

Institutions working to provide payment services like through e-payment or e-wallets will be required to publish their annual report. As per the direction of Nepal Rastra Bank, such institutions need to publish annual report considering Ashadh end as the year end.

The institutions will need to appoint a statutory auditor and inform NRB about the appointment as well. Similarly, the fiscal year will starts from Shrawan and end in Ashadh.

In case of the year in which the institutions are established, they should consider the fiscal year from the date of establishment till Ashadh end.

NRB has also directed that the audit of the financial reports should be conducted within 4 months of the end of the fiscal year. And within 1 month of the completion of audit, the audited report should be submitted to the Rastra Bank.