Kathmandu. Nepal Rastra Bank (NRB) has urged people to use credit cards only after understanding the conditions. The Financial Inclusion and Consumer Protection Division has issued a notice urging the users to use credit cards only after understanding the conditions.
Credit card is an electronic payment tool issued by commercial banks and national level development banks and finance companies.
Generally, there is no interest charge on the payment within the specified time limit using a credit card. However, if the payment is not made within the stipulated date, a higher rate of interest may be charged.
Therefore, the central bank has urged people to make a habit of paying the amount on time using credit cards. The credit card should be aware of the purchase limit and cash limit, payment period, penalty interest, annual renewal fee, transaction details, medium, day and interval, complaint process, other terms and conditions.
