KATHMANDU, Dec 23: Nepal Rastra Bank (NRB) has cut short the report submission timeline for the operators of online payment service in a bid to increase vigilance of transaction settlements amid ongoing liquidity crunch in the country’s banking system.
Revising the unified directive on Thursday, the central bank has asked the payment service operators (PSOs), payment service providers (PSPs) and banks and financial institutions (BFIs) concerned to submit their monthly report of online transactions within the next seven days. Earlier, these institutions were given a month to submit the reports.
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There are 10 PSOs and 28 PSPs operating in the country. They have to report settlement of payments through their accounts in BFIs and both successful and failed transactions to the central bank.
The NRB has also asked the BFIs to report details about transactions through ATMs, e-banking and branchless banking within the stipulated deadline. Likewise, the BFIs are needed to report to the central banks also about details of their customers, agents and settlements made through credit cards and prepaid cards and Nepal Clearing House Limited.
