By A Staff Reporter
Kathmandu, Mar. 4: 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.