September 13: Nepali citizens undergoing treatment or pursuing studies in India are facing problems to withdraw money using their smart cards following strict regulation after the ATM hacking in Kathmandu a few weeks ago.
The central bank has disabled the use of ATM belonging to one bank from withdrawing money form another bank’s ATM booth, especially for the banking network associated with Nepal Electronic Payment System (NePS).
Because of the adverse effects of the new provision, the central bank has directed NePS to seek alternative method as soon as possible.
Nepal Rastra Bank’s Spokesperson Laxmi Prapanna Niroula told New Business Age that the central bank has already instructed the concerned stakeholders to seek an alternative method for cash withdrawal from ATM after Nepali citizens started facing problems in India.
“The banks have been instructed to release money to its customers in India either through remittance or by collaborating with Indian banks,” said Niroula.