Kathmandu. KATHMANDU: Nepal Insurance Authority (NEA) has directed all insurance companies to make all types of payments compulsorily through electronic system from Magh 1.

KATHMANDU: Nepal Electricity Authority (NEA) has directed life insurance companies, non-life insurance companies, micro insurance companies, insurance companies and insurance brokers to make all types of payments compulsorily in the bank accounts of the concerned individuals and organizations through the electronic system from January 1.

The Authority has issued such directive in the context of the provision that the insurer should make the payment in accordance with the terms of the policy or the prevailing law in the account of the recipient in the bank or financial institution while paying the claim under the policy, and the Government of Nepal has implemented the provision that all types of payments from public bodies should be made through digital means through the banking system ।

Earlier, the authority had directed the insurance companies to make the payment of permanent, temporary, contractual or wage or any other type of salary to the employees and workers of the insurance companies compulsorily through banks or financial institutions in the bank account of the employees and workers.