Finance Minister Rameshore Khanal has announced a reduction in allowable cash transaction limits as part of efforts to combat illicit financial activities. Speaking at the 61st anniversary of Rastriya Banijya Bank, he said certain sectors are still being misused to launder black money. Khanal stressed the need to move from physical to digital transactions and expand virtual banking services. He also revealed that discussions are underway with Nepal Rastra Bank to shift lending practices from collateral-based models to enterprise- and capacity-based financing.
