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Nepal Rastra Bank (NRB) amends remittance by-laws: Remittance companies to raise capital of Rs 100 million within 2 years 

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लगानी न्यूज

. KATHMANDU: Nepal Rastra Bank (NRB) has amended the remittance bylaws, 2079 BS and implemented a new provision. Nepal Rastra Bank (NRB) has issued a circular to implement the provisions related to the amendment.

The Nepal Rastra Bank (NRB) has extended the deadline for remittance companies to increase the minimum paid-up capital.TAG_OPEN_div_18 By amending the remittance regulations, the Nepal Rastra Bank (NRB) has now extended the deadline for remittance companies to raise capital of Rs 100 million till 2087 BS.

According to the old system, the Nepal Rastra Bank (NRB) had set a target to increase its capital in a phased manner.TAG_OPEN_div_16 There was a clear plan to increase the amount to Rs 30 million by Ashad 2081, Rs 40 million by 2082, Rs 60 million by 2083, Rs 80 million by 2084 and finally Rs 100 million by Ashad 2085.

The decision to extend the deadline by two years has somewhat relaxed the annual capital growth target. With the new system, companies that are under pressure to increase capital will get more time to expand their business.

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