Nepals Central Bank imposes e-payment limit for expenses made in India

Friday 28 December 2018 13:05 CET | News

Nepal’s Central Bank has set a limit on the payments that a Nepalese citizen can make in India through debit and credit cards issued in Nepal.

Nepal’s Central Bank, Nepal Rashtra Bank (NRDB), has set a limit of INR 100,000 (USD 1,423) per month while making payments for goods and services in India using debit, credit, and other prepaid cards.

However, payments to hotels, hospitals, and pharmacies have been exempted from this limit.

Recently, Nepal banned the use of Indian currency notes of denominations 200, 500 and 2,000 in the country, whilst the Indian currency is widely used in Nepal.

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Keywords: Nepal, central bank, e-payment, expenses, India, currency, payments
Countries: World