The Nepal Rastra Bank (NRB) has increased the amount of money that can be transferred through mobile banking. The central bank increased the limit on money transfers from one bank account to another, as well as from one wallet to another bank account, by issuing a Unified Directive today.
A new limit of Rs 50,000 per transaction, Rs 100,000 per day, and Rs 1 million per month has been introduced.
Previously, the limit was Rs 25,000 per transaction, Rs 100,000 per day, and Rs 500,000 per month. Now, the maximum is Rs 500,000 per month.
The maximum amount of money that can be transferred from one wallet to another has remained unchanged. Customers can currently send up to Rs 25,000 per transaction, Rs 100,000 per day, and up to Rs 500,000 per month from one wallet to another using the Paytm wallet.
In a same vein, users will now be able to withhold Rs 50,000 in their wallets overnight, up from the current maximum of Rs 25,000. According to the new arrangement, any sum in excess of the limit must be deposited into the customer’s bank account in the amount in question.
The National Reserve Bank has also increased the daily payment limit via QR code to Rs 200,000 from Rs 100,000. The ceiling on payments made using internet banking has also been raised from Rs 1 million to Rs 2 million per day, an increase of 50%.
Meanwhile, the central bank has decreased the maximum withdrawal limit from a prepaid card to Rs 10,000 per transaction, Rs 20,000 per day, and Rs 200,000 per month from the previous ceiling of Rs 200,000.