Unified Directive on Payment System 2078 Eases Limit on Digital Transaction

Wed, Sep 15, 2021 11:12 AM on Economy, National, Latest,

Nepal Rastra Bank has issued 'Unified Directive on Payment System - 2078'. Through the directive, the central bank has increased the limit for transactions made through mobile and internet banking and the maximum limit for remittances through electronic wallets.

According to the new directive, Rs 2 lakhs per day can be transacted through mobile banking (including QR code) and Rs 20 lakhs per day through internet banking.

Earlier, only Rs 1 lakh could be transacted daily through mobile banking. Similarly, the remittance limit from a bank account to a mobile wallet has been increased from Rs 25,000 to Rs 50,000 per transaction. The remittance limit from wallet to other bank accounts has also been increased to Rs 50,000 per transaction.

Meanwhile, wallet transfer up to Rs. 1 lakh can be done in a day, which hasn't changed from last time.

Banks and financial institutions will be able to charge customers a maximum of Rs. 10 per transaction up to Rs. 50,000, with transactions up to Rs. 3000 only costing Rs. 5 per transaction. Similarly, they will be able to charge a maximum of Rs 20 for transactions ranging from Rs 50,001 to Rs 100,000 and Rs 30 per transaction for transactions above Rs 100,000.

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