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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.</span></span></span></span></p>
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.</span></span></span></span></p>
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View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
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Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.</span></span></span></span></p>
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November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. The central bank made such an arrangement by issuing the Unified Directive 2080related to payment services on Monday.
The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets.
The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure.
In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.
It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.
The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p>
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include - APP/View/Elements/side_bar.ctp, line 60
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include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
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Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
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'title' => 'NRB Tightens the Screws on Digital Wallet Companies',
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'summary' => 'November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. ',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. The central bank made such an arrangement by issuing the Unified Directive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">related to payment services on Monday. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.</span></span></span></span></p>
<p> </p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117