KATHMANDU: Nepal Rastra Bank (NRB) has set a transaction limit of up to Rs 25,000 in domestic remittances.

Issuing a circular on Wednesday, the NRB notified that the transaction limit has been shrunk to Rs 25,000 per day for the domestic remittances.

According to the NRB, after the implementation of this policy, remittance companies and sub-agents or sub-representatives of the remittance companies allowed by the NRB will be able to transact only up to Rs 25,000 per day.

Earlier, the limit of such transactions was up to Rs 100,000, the circular said.

However, the remittance amount sent from abroad to the concerned person or relative (beneficiary) can be paid in cash as before, the NRB has informed.