Kathmandu. The government has reduced the cash transaction limit from Rs 10 lakh to Rs 500,000.
According to a notice published in the Nepal Gazette on Thursday, any person, firm, company or institution has to buy or sell any service or goods worth Rs 5 lakh or more at a time through financial institution or banking instrument from January 15.
in the Notice, except for the following purposes, in the case of , Rs. The transaction of Rs 5 lakh or more should be done through banking instruments.
(a) To deposit, save or exchange in a financial institution,
(b) To pay the loan, its principal and interest taken from the financial institution,
(c) To carry out cash transactions between financial institutions,
(d) To keep or move cash from one place to another within the country,
or {{}} cash in excess of the above cash limit {{{TAG_CLOSE_span_10 TAG_OPEN_span_10} with a specifying source and purpose, {{}}
(e) If the details and reasons of an application made by any depositor or saver for cash payment for any specific reason are found to be reasonable, such depositor or
To make cash payments in excess of the mentioned limit to the depositor or saver from the financial institution where the saver has an account.
