Banking Khabar / Nepal Rastra Bank (NRB) has extended the deadline for remittance companies to increase their minimum paid-up capital by two years. Amending the remittance regulations, the central bank has now set fiscal year 2087 BS as the final deadline for companies to reach a capital requirement of Rs 10 million.
The revised provision relaxes the earlier phased capital growth targets, providing additional time for smaller remittance firms to manage their finances and expand operations. The move is expected to ease pressure on companies struggling to meet capital requirements.
Previously, remittance companies were required to meet a series of incremental capital targets, including Rs 3 million by mid-July 2024 (2081 BS), Rs 4 million by 2025, Rs 6 million by 2026, Rs 8 million by 2027, and finally Rs 10 million by mid-July 2028 (2085 BS). However, under the new arrangement, these annual milestones have been removed, with a single requirement to reach Rs 10 million by 2087 BS.
The central bank stated that the revision has been made in response to current economic conditions and requests from stakeholders in the remittance sector. The decision is widely seen as providing significant relief to companies facing capital constraints while maintaining long-term regulatory goals.
