February 1: Now, there is no need to go to the office of the remittance company or a bank or financial institution to receive remittance payments sent from abroad. Nepal Rastra Bank issued the Unified Directive 2079 regarding the payment system on Tuesday and made arrangement to deposit remittance directly into mobile wallets.

As per the provision in the directive, the payment service provider can make arrangements with the licensed remittance company so that the money coming from abroad is deposited directly in the electronic wallet operated in Nepal.

Provisions are also made so that a remittance company can operate a wallet company by establishing a subsidiary company. Similarly, NRB also opened applications for new licenses by increasing the paid-up capital of payment service providers and system operating companies.

NRB has increased the limit of electronic payments through the unified directive and reduced the transaction fee. According to the instructions of NRB, banks can charge up to Rs 15 for the use of ATMs for inter-bank transactions. Earlier, two transactions per month were free and a maximum fee of Rs 20 was fixed for more than that.

Meanwhile, the central bank has made arrangements for transactions up to Rs 300,000 per day through mobile applications and even QR codes. Earlier, the limit for such transactions was Rs 200,000 per day.

Similarly, Rs 200,000 can be transacted daily from bank account to wallet, Rs 200,000 from wallet to other bank accounts and Rs 50,000 from one wallet to another wallet. Earlier, the limit of such transaction was Rs 25,000 to Rs 50,000. Although the monthly limit of such transaction is kept unchanged, the daily transaction limit has been increased.