KATHMANDU, June 28: Nepal Rastra Bank (NRB) has turned flexible on allowing individuals to use Quick Response (QR) codes for cross-border financial transactions with India.
KATHMANDU, June 28: Nepal Rastra Bank (NRB) has turned flexible on allowing individuals to use Quick Response (QR) codes for cross-border financial transactions with India.
KATHMANDU, FEBRUARY 21: In a bid to dispel the prevalent rumours about the financial health of a few Nepali banks, Nepal Rastra Bank (NRB) has said that the banks and financial institutions (BFIs) are strictly adopting safety and other related measures as directed by it. Claiming that certain BFIs are on the verge of collapse, […]
The post Central bank urges for carrying out banking transactions sans any doubts appeared first on Aarthiknews:: A leading business & economic news portal from Nepal.
KATHMANDU, June 19: The Nepal Rastra Bank (NRB) has been preparing to issue a digital currency.
According to the Central Bank's Executive Director Guru Prasad Paudel, 11 countries in the world so far have their digital currency and the Bank too is studying the req
The Financial Information Unit of the Nepal Rastra Bank (NRB) has said it received 1,556 suspicious financial transaction reports in eight months of the current fiscal year.
The post NRB investigating over 1,500 suspicious transactions appeared first on OnlineKhabar English News.
KATHMANDU, Feb 5: At a time when the use of electronic media in financial transactions is increasing significantly and fraud in various names is also on the rise, the Nepal Rastra Bank (NRB) has advised the public to be vigilant and safe, saying that the temptation to cast lottery, misuse of mobile applications, solicitation of passwords and OTP from strangers on various pretexts has increased.
The central bank on Friday issued a notice to the public regarding the risks involved in conducting financial transactions through electronic means, urging users to pay special attention to electronic payments as complaints are being raised that criminal individuals and groups are using various electronic devices to defraud customers.
The central bank has asked people not to share their passwords, OTP or any other sensitive information, to change their passwords from time to time and to keep such passwords confidential. Similarly, if an unknown person requests the public to send money by sending a message through social media or any electronic medium, caution should be observed before responding to such requests.
Similarly, the bank has advised not to use unauthorized applications as the criminal group can find out its sensitive information while downloading unnecessary and unauthorized applications on mobile or other devices.
Meanwhile, the NRB has stated that complaints or grievances can be registered by contacting the banks and financial institutions and the NRB if there is any suspicion or complaint about fraud while conducting financial transactions through various channels
The significant increase in the use of electronic media in financial transactions is due to the development of electronic payment infrastructure, incentives for e-transactions and increasing use of modern equipment by the general public.
According to the latest data released by the Nepal Rastra Bank, more than Rs. 4.845 trillion has been transacted electronically in the last month of the current fiscal year alone. Of this, more than Rs 3.477 trillion has been transacted through RTGA alone. According to the bank, the electronic turnover was more than Rs 2.37 trillion in the month of Mangsir in the last fiscal year.
Nepal Rastra Bank (NRB) has directed commercial banks in the country to submit details of cash transactions of or above Rs 700,000.
The post NRB tells banks to submit details of cash transactions above Rs 700,000 appeared first on OnlineKhabar English News.
Transactions via internet banking increased by 231 percent: NRB
KATHMANDU, May 17: With the spread of the second wave of the coronavirus pandemic in the country, cashless transactions have increased significantly.
Digital transactions amounting Rs 3.686 trillion weren made In the past one month alone, according to Nepal Rastra Bank (NRB). This includes the transactions made through RTGS, wallet, ATM, debit cards, IPS, Connect IPS, mobile and internet banking and other digital devices.
The NRB said that transactions worth Rs 70 billion were made through the ATMs in the past month.Transactions via internet banking increased by 231 percent. Transactions amounting Rs 2.177 trillion were made through the Real Time Gross Settlement (RTGS) system launched by the central bank itself. Transactions worth Rs 900 billion, were, however settled through cheques.
Nischal Adhikari, director of the payment system department of the NRB, said that digital business has boomed amidst the coronavirus epidemic. He said, "People have attracted toward digital transactions owing to COVID-19 fears."
Wallet services inlcuding eSewa, Khalti, IME Pay and others reported a transaction of Rs 11 billion in the past one month. In Mid-July last year, such a transaction was only Rs 7 billion. Mobile banking increased by 164 percent.
The QR code system, which the central bank has been promoting recently, has also attracted a lot of customers. Payments through QR codes increased by 362 percent. About Rs 3 billion is being transacted through QR code in a month, according to the NRB.
