Kathmandu. Nepal Rastra Bank (NRB) has temporarily increased the daily limit of depositing money in digital wallets targeting the Dashain, Tihar and Chhath festivals. The central bank has increased the maximum number of deposits from 10 times per day to 50 times.

Nepal Rastra Bank’s Department of Payment Systems issued a circular to the payment service providers on October 29.

As per the circular, people can deposit money in the wallet of natural people up to 50 times in a day from October 14 to November 22 on the occasion of Bada Dashain and from November 7 to November 29 on the occasion of Tihar and Chhath festivals.

Earlier, according to the sub-point 2 of point number 3 of the Integrated Directive on Payment System No. 5/082, there was a provision to deposit a maximum of 10 times in the wallet of a natural person.

Nepal Rastra Bank (NRB) has provided this facility for a certain period as the transaction of digital payments and depositing money in wallets increases during the festival season.

The central bank has also directed the payment service providers to provide details of the number of transactions made during the period and the total transaction amount to the department.

This arrangement of the Rastra Bank is expected to make it easier for the users to deposit money repeatedly in the digital wallet during Dashain, Tihar and Chhath.