PAN number mandatory for loan above Rs 5m

Published On: July 24, 2019 06:58 PM NPT By: Nribesh Nepal

KATHMANDU, July 24: Nepal Rastra Bank has made mandatory provision to possess PAN number for those seeking loans above Rs 5 million.

Now onward, bank and financial institutions are obliged to ask PAN number before issuing the loan, according to the monetary policy revealed on Wednesday. Earlier, an individual getting a bank loan of more than Rs 10 million needed to have a PAN number.

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