It has been stated that new arrangements have been made regarding licensing casinos to conduct foreign exchange transactions.
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Nepal Rastra Bank has made it mandatory for casinos to transact foreign currency only with permission.
The central bank has announced in a notification that new arrangements have been made in accordance with the provision of Section 3 of the Foreign Exchange (Regulation) Act, 2019 that foreign exchange transactions should be carried out only with a license.
Reminding that various regulations have also been issued regarding foreign exchange, the central bank has announced new arrangements regarding granting licenses to casinos to carry out foreign exchange transactions. The central bank's notification states that institutions including casinos should carry out/conduct foreign exchange transactions (including Indian currency) with a license.
Similarly, issuing integrated instructions regarding payment systems, the limit for transactions made through 'prepaid cards', 'debit cards' and 'credit cards' has been fixed. According to the new arrangement, only Rs 20,000 can be made through debit cards. According to this arrangement, only Rs 50,000 can be made per day. Earlier, transactions worth Rs 100,000 were being made per day.
Similarly, only Rs 10,000 can be made per day through prepaid cards. Only Rs 20,000 can be made per day and Rs 200,000 can be made per month. There has been no change in transactions made through prepaid cards. In the case of credit cards, the full provision of being able to make transactions up to 10 percent of the approved limit remains in place.
