Loading Digital Wallets through Credit Cards? Beware of These Rules from Now on

Loading digital wallets through credit cards? You should be careful now. As you know, the banking system in Nepal is going through a liquidity crisis this time. Banks are being really strict in lending credits. On the other hand, they are trying to bring in a lot of deposits.

In this scenario, the Nepal Rastra Bank has been bringing many policies, directives, and rules to tighten the money supply in the market. Recently, it has restricted banks to issue Letter of Credit (LC) to import various goods ranging from mobile phones, vehicles above 220 CC, garments and ready-made clothes, etc. On top of that, it has restricted the limit of domestic remittance as well to bring the flow of money through banking channels.