Nepal Rastra Bank Extends Deadline for Remittance Companies to Meet Capital Requirements
Summary
Nepal Rastra Bank has extended the deadline for remittance companies to meet the minimum paid-up capital of 100 million rupees to Ashar 2087, introducing streamlined regulations for licensing and operations.
Key Points
- Nepal Rastra Bank extended the deadline for remittance companies to meet the minimum paid-up capital requirement to Ashar 2087.
- The minimum paid-up capital required is 100 million rupees, previously set for Ashar 2085.
- Interim capital increase targets have been removed from the regulation.
- New provisions cover licensing, penalties, mergers, and operational functions including remittance cards and subsidiary operations.
