Earlier, the National Bank had reduced the limit to 500 million.
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Personal overdrafts can be availed up to Rs 10 million. The Nepal Rastra Bank has made this provision through the first quarterly review of monetary policy. Earlier, such a limit was only Rs 5 million.
The personal limit for borrowing through overdraft was previously Rs 10 million. However, the Nepal Rastra Bank had reduced the limit to Rs 50 million. Now, the limit has been increased from Rs 50 million to Rs 10 million.
‘The existing limit for personal overdraft loans provided by banks and financial institutions will be increased from Rs 50 million to Rs 10 million,’ the Nepal Rastra Bank said in its quarterly review of monetary policy.
