Key Takeaways:

• NRB raises daily wallet deposit limit from 10 to 50
• New limit applies during Dashain Tihar and Chhath periods
• Move aims to support higher festival season digital transactions
• Payment service providers must report transaction data to NRB

KATHMANDU, OCTOBER 16 Nepal Rastra Bank has temporarily increased the daily limit on deposits into individual digital wallets from 10 to 50 transactions, aiming to ease digital payments during the busy Dashain, Tihar and Chhath festival season. Under a circular issued by the central bank's Payment Systems Department, wallet users will be allowed to make up to 50 deposits a day from October 17 to 25 and again from November 7 to 15. The existing limit under payment system directives is 10 deposits per day. The temporary relaxation comes as digital transactions typically surge during major festivals, when consumers use e-wallets for shopping, travel, remittances and other payments. NRB has also directed payment service providers to submit details of the number and value of transactions conducted during the specified periods to the central bank for monitoring.