Latest Foreign Exchange Circular

Nepal Rastra Bank foreign exchange management department has made announcement to amend in some foreign exchange rules.
Nepal Rastra Bank  reduces the limit of USD exchange from USD 2500.00 to USD1500.00 it is implemented due to huge amount exchanges by Nepali people to go abroad, as per data around Rupees 19 Arab (Nineteen Arab) was found outside our country.  Similarly, Nepal Rastra Bank also reduces Swift Transfer (Telegraphic Transfer) limit to USD 30,000.00(Thirty Thousand) from USD40, 000.00(Forty Thousand). However, for the remittance of USD above USD 25,000.00 BCI Report (Business Credibility Information) should be obtained and kept in file.  Due to shortage of us dollar our central bank have announced vehicle financing to 50% from 65%.

Meaning of Bank

Bank 

Banking in Nepal

Bank is an institution which deals in money, receiving it on deposit from customers, honoring customers’ drawings against such deposit on demand. In present scenario various types of banks are established for different purposes like industrial bank, development bank, agricultural bank, commercial bank, joint stock bank, cooperative bank etc. modern banking are more advance than the old banking. In other words, bank is the financial institution licensed to receive deposits and make loans, it may also provide financial services like fund management, currency exchange, locker facility, digital banking services.