A circular from the central bank's Payment Systems Department raises the daily cap on deposits into individual digital wallets from 10 transactions to 50, The Himalayan Times reported. The higher limit applies from 17 to 25 October and again from 7 to 15 November.
The bank said the change was meant to accommodate the surge in e-wallet use for shopping, travel, transfers and other payments during the festival season. Payment service providers must report the number and value of transactions made during those windows so the central bank can monitor them.
Keep OTPs to yourself
At the same time, the bank's Financial Intelligence Unit warned that online fraud tends to climb with festive transaction volumes. Its analysis of banking data found cases rising, with scammers more active on social media and digital platforms during holidays, Onlinekhabar reported.
Common tricks it described include fake festival prize links that demand an advance fee for charges or tax, counterfeit bank and wallet websites that threaten account closure unless KYC details are updated, and social media advertisements for heavily discounted branded goods that never arrive. Fraudsters also open accounts using other people's citizenship documents and photographs.
The unit urged people never to share one-time passwords, bank passwords or wallet PINs, to ignore offers of free recharges or lottery wins, to shop only on trusted sites and to pay on delivery where possible. Anyone who is defrauded should contact their bank or wallet provider immediately to freeze the account, then report the case to the Nepal Police Cyber Bureau or the nearest police office. It also asked banks to tighten digital identity checks and alert customers by SMS and social media.
Sources
The Himalayan Times (external link); Onlinekhabar English (external link); Onlinekhabar (external link)
Read online: https://ujyaalotoday.com/en/article/nrb-festive-wallet-limit-fraud-warning
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