Nepal Rastra Bank (NRB) has introduced an inter-country payment through QR code system.
Revising an integrated circular on Thursday, the Foreign Exchange Management Department of Nepal Rastra Bank introduced a system enabling inter-country payment system from Nepal to India through QR code.
According to the circular, the transaction can be made through Retail Payment Switch until the National Payment Switch fully comes into operation.
Using the retail payment switch, one can transfer at least IR 15,000 per day and IRs 100,000 per month to his or her personal bank account in India.
These transfer facilities can be availed via Banijya Bank, and other development banks in Nepal, according to the circular.
