Kathmandu. The limit on digital transactions will no longer apply to the government fund set up for the rescue, relief and rehabilitation of the people affected by floods and inundations.

Issuing a circular on Thursday, the Department of Payment Systems of Nepal Rastra Bank (NRB) has decided not to apply the existing transaction limit while depositing money in the Prime Minister Natural Disaster Relief Fund and Prime Minister Relief Fund through mobile banking, internet banking and e-money (digital wallet).

The Rastra Bank has made this provision at a time when the government is raising financial assistance for the rescue and relief of the people affected by floods and landslides. Earlier, according to the Unified Directive, 2082, there was a certain transaction limit on digital payments. However, this limit has been removed while sending money to these two funds operating for relief and rescue.

After the new system, individuals and organizations will be able to easily send large amounts to the relief fund through digital means. It is expected that this will make it easier to mobilize immediate financial assistance during the disaster.

According to the NRB, the bank has offices in Rastriya Banijya Bank, Nepal Bank, Agricultural Development Bank, Everest Bank, Global IME Bank, Nabil Bank, Standard Chartered Bank, Himalayan Bank and Laxmi Sunrise Bank.

Similarly, the Rastriya Banijya Bank (RBB) has two accounts for the Prime Minister’s Relief Fund.