Kathmandu. Nepal Rastra Bank (NRB) has increased the limit on gold imports.
The central bank has increased the limit on gold import by amending the Integrated Circular 2081 issued for the bodies dealing in foreign exchanges. Now, one can import up to 25 kg of gold per day. Earlier, one can import up to 20 kg of gold per day.
Similarly, as per the revised circular, the limit for bringing remittance amount from foreign countries (citizen or firm, firm, company or institution) from abroad (citizen or firm, firm, company or institution) registered in Nepal has been increased to Rs 25 lakhs per day (one time or multiple times) to deposit the amount received from foreign countries (citizen or firm, firm, company and institution) in the account of the beneficiary through the licensed remittance company. Earlier, the limit was Rs 20 lakh.
As per the amended circular, the NRB has to submit the details of the remittance to the Foreign Exchange Management Department, the concerned Department of Supervision and the Department of Economic Research within 7 days of the end of each month. Earlier, there was a provision to submit the details on a monthly basis.
