Kathmandu, Mar. 3
Nepal
Rastra Bank has increased the limitation of the electronic payment made via
pre-paid card, mobile banking and internet banking.
It
increased the limit of mobile banking by Rs. 100,000 and made it Rs. 200,000.
Issuing
a circular to the banks and financial institutions (BFIs) on Wednesday, the
central bank had pushed up the ceiling of the merchant payment and account
transfer.
Likewise,
the maximum limit of internet banking (merchant payment and account transfer)
is increased to Rs. 2 million from existing Rs. 1 million. However, this
provision would not be applied while making transfer of funds from a person's
account maintained at a BFI to another account at the same institution. Any
amount can be paid via mobile banking in such situation.
Similarly,
no limit is set while making payment for tax, revenue, fine, vehicle charges,
registration and service charges via mobile banking. Other areas that are
exempt of the limitation are the payment of electricity, telecommunication,
water supply, insurance premium, social security allowance payment, educational
fee, health service payment and ticketing as well as hotel bills.
Transaction
of shares also does not have the limit.
The
central bank had amended the limitation for the electronic payment last year.
Published in The Rising Nepal daily on 4 March 2021.
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