The National Bank issued a circular on Wednesday and gave this directive to banks and financial institutions.
We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
Banks and financial institutions will have to calculate the revenue of services received from the survey office, including land maps and field books, through the 'Mero Kitta' system. The Rastra Bank issued a circular on Wednesday and directed banks and financial institutions to do so.
'Banks and financial institutions will have to become institutional users of the Mero Kitta system to obtain services received from the survey office, such as land maps, field books and plot registers, and to pay related revenue online,' the directive states.
Similarly, banks and financial institutions will not be able to count loan transactions between banks in interbank transactions/swaps for the purpose of implementing the Nepal Government's programs run with the support of international donor agencies.
The Rastra Bank has directed that the details of the programs run in this way should be provided to the Bank and Financial Institutions Regulation Department and the concerned Supervision Department of this bank.
