Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has made it mandatory for casinos and other such institutions to transact foreign currency only after obtaining permission.

Issuing a notice, the central bank said that the new arrangement has been made as per the provision of carrying out foreign exchange transactions only after obtaining a license as per Clause 3 of the Foreign Exchange (Regulation) Act, 2019.

Recalling that various bylaws and regulations have also been issued regarding foreign exchange, the central bank said that a new provision has been made regarding granting permission to casinos to carry out foreign exchange transactions. According to the central bank’s notice, casinos and other institutions are required to conduct ÷transactions in foreign exchange (including Indian currency) with a license.

Similarly, a unified directive on payment system has been issued and limit the transactions made through prepaid cards, debit cards and credit cards. According to the new provision, the central bank has said that the transaction can be done up to Rs 20,000 per transaction from the debit card. According to this system, now only Rs 50,000 will be transacted per day. Earlier, the transaction was worth one lakh rupees per day.

Similarly, prepaid card users can make only Rs 10,000 per transaction. The transaction can be carried out at Rs 20,000 per day and Rs 200,000 per month. However, there has been no amendment in the transaction of prepaid cards. In the case of credit cards, there is an old provision that can be increased to 10 percent of the approved limit.