Digital wallets can now receive deposits up to 50 times a day for festivals

Nepal Rastra Bank has increased the limit on the number of times an individual can deposit money into a digital wallet in a day, keeping the Dashain, Tihar and Chhath festivals in mind.

Previously, a maximum of 10 deposits could be made into a wallet in a day. Now this limit has increased fivefold to 50 times a day.

The central bank's Payment Systems Department has directed payment service providers operating wallets to implement this arrangement in view of the major festivals ahead. The limit has been raised temporarily.

The limit has been raised with the aim of allowing wallet users to deposit money multiple times a day, since the use of digital payments increases during festivals.