Instructed to Electronic Transactions in the Financial Sector and Capital Market:
Regulatory bodies have instructed to give priority to electronic transactions in the financial sector and capital market, keeping in mind the possible risks at a time when the rate of corona infection has been increasing in recent times.
Nepal Rastra Bank and Nepal Securities Board have directed commercial banks and merchant bankers to provide online services.
Nepal Rastra Bank (NRB) has directed the banks and financial institutions to open minimum branches to provide basic financial services from the minimum staff and to do basic banking business in rotation for a certain period of time.
NRB's directive also mentions to keep enough cash in ATM machines and to monitor it. In order to ensure the supply of essential commodities during the injunction, the NRB has instructed to operate the draft letter of credit and guarantee and to keep the details of the branch to be opened and the phone number of the contact person on the website.
Similarly, the Securities and Exchange Board of India (SEBI) has directed to provide online services to all those working as merchant bankers as per the decision of the government to reduce the risk. The Board has directed to make arrangements to provide services only online, virtual and electronic as far as possible.
The Board urges the customers to contact the concerned company through phone number, email website or other electronic means in case they need to attend the urgent service in person.
