03 Mar, 2022

Domestic Remittance Limited to 25 thousands from 1 lakh

The Nepal Rastra Bank recently issued a new notice about domestic remittances that affect its certified enterprises who work in this field. The notification, which was published yesterday (2078/11/18), restricts past transactions of Rs 1,00,000 to only Rs 25000.Every remittance company, including IME Limited, CG Remit Pvt. Ltd, City Express Money Transfer Pvt. Ltd, etc, and their sub-agents and sub-representatives, will be affected by this rule.This rule sets a restriction of Rs 25000 per person, per transaction, and per day. This means that you can only transfer the maximum amount via the remittance company's physical office or through online transactions.

Only domestic remittances are affected by this restriction. Foreign remittances and mobile banking will be unaffected by this law.Source:Nepal Rastra Bank - https://www.nrb.org.np/contents/uploads/2022/03/Notice_20781118.pdf