In a circular issued on Tuesday, NRB has clearly mentioned that from July 1, international airlines and their agents providing service in Nepal should quote air fares in local currency and payments made in Nepali currency should also be accepted. This condition also applies for online ticketing, meaning people who use the Internet to purchase air tickets for Nepal, will see the air ticket prices mentioned in Nepali currency.
Until now, US dollar was the standard currency to make payments related with purchase of international air tickets. This used to put a dent in the earning of domestic travel agencies whenever Nepali currency weakened.
In this fiscal year alone, the value of Nepali currency went down from Rs 69.10 per dollar to Rs 77.84. Whenever, Nepali currency weakens, travels agencies have to invest more Nepali rupees to buy dollars.
“We are happy that our one and half years of efforts yielded positive results,” Ram Kaji Koney, president of Nepal Association of Tour and Travel Agents, told journalists at a press meet organized in Kathmandu on Thursday.
The new provision introduced by NRB is also expected to aid cargo and courier companies based in Nepal, as it has also directed international cargo and courier companies and their agents in Nepal to accept payments made in local currency.
NRB has also directed Civil Aviation Authority of Nepal (CAAN), Nepal Oil Corporation and ground handling agents, catering companies and other service providers at Tribhuwan International Airport to issue bills in the foreign currency and Nepali currency based on the exchange rate of that day. This means CAAN can accept landing and parking fees in either Nepali or foreign currency, while fuel payments can also be settled with NOC in either Nepali or foreign currency.
EBL begins Ghar Dailo Banking in Bhaktapur
KATHMANDU, June 25: As part of its initiative to extend modern banking facilities to the people living in remote villages, Everest Bank Limited (EBL) has launched Ghar Dailo Banking Sewa -- a mobile banking service -- in Bhaktapur. The service launched on Wednesday is being offered in five VDCs including Nagarkot, Gundu (Ward No 3 and 6), Dadhikot, Duwakot and Tathali for now, says a press release.
Under the service, EBL customers can avail banking facilities through a biometric enabled smart card and machine. The bank is providing the smart card to the customers on opening an account. Mobile banking service is a new breakthrough in terms of banking technology in Nepal. The unique feature of the technology is that even illiterate people can operate their accounts through thumb impression. The machine reads accounts through biometric data stored during account opening. “Thus the operation of the account is safe and secure,” says the release.
The bank has already launched the product in eight villages in Baglung. The bank also plans to launch the service in Nepalgunj soon.
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