Are you facing hassles opening your bank account because it requires many documents? A national identity card (NIC) is sufficient for opening a bank account.
Nepal Rastra Bank (NRB) has directed subordinate banks and financial institutions to enable bank account opening based solely on information from national identity cards.
"Banks and financial institutes will have to make arrangements for opening bank accounts based on information from national identity cards starting January 14, 2025" NRB has said in its directive.
The directive requires banks and financial institutions to open accounts based on the details provided by the concerned bodies when it comes to government payments, including social security.
Similarly, banks will now have to determine whether the person is a family member or close relative of a high-ranking official while opening the bank account.
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