After First Pay did not renew the license within the stipulated time, the license of this company was automatically revoked, while Prabhu Technologies Private Limited Company was not operating properly and the National Bank decided to revoke the license.
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Nepal Rastra Bank has revoked the license of First Pay Technology and Prabhu Technology Private Limited. This company's license was automatically revoked after First Pay did not renew it within the stipulated time.
Such companies are initially given a 5-year license. After that, the company has to go to the National Bank again and renew it. Rastra Bank said that the permit was automatically revoked after this company did not come to renew.
Similarly, the National Bank has also revoked the license of Prabhu Technologies Private Limited. The National Bank has decided to revoke the license saying that the company is not operating properly.
If there is any pending transaction with both the mentioned institutions, the Rastra Bank has requested to contact the respective institutions within 30 days from the date of publication of the notice.
