The Nepal Rastra Bank has made such a provision through the Nepal Rastra Bank Remittance Regulations, 2079 (Second Amendment).
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Remittance companies have been given an additional two years to meet the minimum capital requirement. The Nepal Rastra Bank has made such an arrangement through the Nepal Rastra Bank Remittance Regulations, 2079 (Second Amendment). Earlier, the Nepal Rastra Bank had directed remittance companies to meet a minimum capital of Rs 100 million by 2085. The same deadline has been extended for another two years. Now, remittance companies will have to meet a minimum capital requirement of Rs 100 million by 2087.
In the previous directive, the Nepal Rastra Bank had asked remittance companies to meet a minimum paid-up capital of Rs 30 million by mid-Ashar 2081, Rs 40 million by mid-Ashar 2082, Rs 60 million by mid-Ashar 2083, Rs 80 million by mid-Ashar 2084 and Rs 100 million by mid-Ashar 2085. While extending the deadline, it has not been specified in which year the capital will be met. It has been asked to meet a capital requirement of Rs 100 million by 2087.
