Kathmandu. Nepal Rastra Bank (NRB) has increased the remittance limit. Nepal Rastra Bank (NRB) has added Rs 5 lakh to the existing provision.

Earlier, the limit of Rs 20 lakh per day has been increased by Rs 5 lakh to Rs 25 lakh per day.

A Nepali or foreign citizen or a firm, employee, institution or branch office registered in Nepal can bring remittance amount of Rs. 25 Lakhs daily (once or repeatedly) by depositing the amount received from a foreign country (citizen or firm, company, or institution) in the account of the concerned beneficiary through the licensed remittance company. Earlier, it was Rs 20 lakh.

The NRB has to submit the details of the remittance to the NRB within 7 days of the expiry of each month. Earlier, there was a provision to submit the details on a monthly basis. Now the deadline for submitting the details has been fixed.