Private sector seeks revision of Rs 500,000 cash transaction cap
Summary
The private sector urges the government to revise the Rs 500,000 cash transaction limit, citing operational challenges and limited banking access in Nepal. Business leaders also call for reforms to promote investment and enhance customs trade facilitation.
Key Points
- The government set a cash transaction limit of Rs 500,000 effective January 15, causing difficulties for businesses.
- Business leaders urge revising this cash transaction cap to ease operations amid limited banking access across Nepal.
- The policy is linked to government and Nepal Rastra Bank's response to Nepal's placement on the FATF Grey List.
- Calls were made for transparent, technology-driven customs systems and reforms to improve investment climate and trade facilitation.
