Kathmandu. The practice of pasting postage stamps in insurance services has been abolished. Nepal Insurance Authority (NEA) today issued a circular to all types of insurance companies, brokers and intermediaries, urging them to make arrangements for eliminating the practice of pasting postal stamps in insurance service.
On December 29, the Council of Ministers had decided to remove the practice, practice or provision of pasting postage stamps as income stamps for the authenticity of documents in the process of service delivery except as provided in the prevailing laws.
The authority has urged the insurers to make arrangements to implement the same decision of the cabinet.
Now, the practice of pasting postal stamps as income stamps for authenticity of documents has been abolished, except as provided in the prevailing laws in the process of service delivery by Insurance Authority and insurance companies.
