NRB caps daily ATM withdrawals at Rs 50,000

KATHMANDU: Nepal Rastra Bank (NRB) has reduced the cash withdrawal limit from automated teller machines (ATMs) using debit cards.

The central bank reduced the withdrawal limit, amending the Consolidated Directive Related to Payment Systems on Friday.

As per the revised provision, customers can now withdraw a maximum of Rs 20,000 per transaction using debit cards, down from the previous limit of Rs 25,000. Similarly, the daily withdrawal limit has been set at Rs 50,000, compared to the earlier cap of Rs 100,000.

The monthly withdrawal limit has also been reduced from Rs 400,000 to Rs 300,000.

The NRB has said that the revision aims to strengthen the digital payment system and encourage electronic transactions over cash withdrawals.