Kathmandu. The government has made strict legal provisions for property to discourage hundi-related transactions.
Nepal Rastra Bank (NRB) has issued an awareness notice for financial awareness today. “Hundi related transaction means a transaction carried out by using persons, equipment or any other means other than a recognized institution or instrument of payment in accordance with the prevailing law to transfer any amount or value from Nepal to foreign countries or from abroad to Nepal, or to make a business in such a way that it takes, gives or receives payment,” reads the notice. According to this, no one should do or do hundi related business. ’
Therefore, the Rastra Bank has made it clear that any business transaction related to the transfer of money will not be paid or given through any means so that the actual account is not visible. “If anyone commits an offence related to hundi, the property will also be confiscated and imprisoned for one year,” reads the notice.
Therefore, it has been urged to use only banks and financial institutions and remittance companies licensed by the Rastra Bank while transferring money from Nepal to foreign countries or from abroad. “Let’s not indulge in illegal transactions like hundi for the sake of short-term gains,” the central bank said.
