NRB Restricts Issuance of Multiple Cards from a Single Account

The Nepal Rastra Bank (NRB) has introduced new regulations restricting individuals from obtaining more than one card of the same type (debit, credit, or prepaid) from a single account. The directive, issued by the Payment Systems Department on Wednesday, states that a general person can only receive one card of each category per account. However, the rule will not apply to domestic card schemes, as clarified in the Integrated Directive on Payment Systems.

Additionally, financial institutions must ensure that customers using mobile banking and internet banking services are verified for VPN usage. If an unauthorized VPN is detected, the system must prevent the user from logging into the banking app. Payment service providers are also required to conduct regular DC-DR (Data Center – Disaster Recovery) drills. Furthermore, NRB has introduced a new limit on transactions via Unstructured Supplementary Service Data (USSD), capping payments at Rs. 10,000 per day and Rs. 5,000 per transaction.