KATHMANDU: Deputy Prime Minister and Finance Minister Bishnu Paudel informed Parliament on Friday that individuals entering Nepal from India can legally bring up to USD 5,000 (or equivalent) without a customs declaration.
Speaking during a meeting of the Finance Committee under the House of Representatives held in Singha Durbar, Minister Paudel said that anyone wishing to bring in more than that amount must declare it at customs, with a maximum limit of INR 600,000 allowed if declared properly.
To facilitate tourists visiting Nepal, he also said that arrangements have been made to allow digital payments — such as QR code or card-based transactions — up to a certain limit.
Addressing the longstanding issue of Indian ₹500 notes not being accepted in Nepal, Paudel reiterated that Nepal does not accept the notes because the Indian government does not take them back through official channels.
The Finance Minister also announced that vehicles entering Nepal via customs checkpoints will no longer be subject to repeated inspections at multiple locations within the country — a move aimed at improving ease of movement and reducing bureaucratic hassles.
On the ongoing deliberations around amendments to the Bank and Financial Institutions Act (BAFIA), Minister Paudel said that proposed legal reforms are intended to address persistent problems in Nepal’s financial sector. He acknowledged concerns over the controversial proposal allowing undeclared or “black” money to be legitimized through tax payments, calling the issue “serious.”
Paudel warned that such provisions, if not handled carefully, could harm Nepal’s efforts to exit the Financial Action Task Force (FATF) grey list, which monitors countries with strategic deficiencies in combating money laundering and terrorist financing
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