The Supreme Court has annulled the provision of making national identity card mandatory for opening a bank account.

Kathmandu. The national identity card will no longer be mandatory in banks and financial institutions. The Supreme Court has annulled the provision of making the national identity card mandatory for updating the customer identification details (KYC) or changing the mobile number in banks and financial institutions.

Banks had been making it mandatory for banks to update KYC details and change mobile numbers. With the Supreme Court’s decision, this provision has been abolished.

This decision is expected to provide relief to the customers affected by the mandatory national identity card to avail banking services.

Nepal Rastra Bank (NRB) has made it mandatory for new and old bank accounts to have a national identity card number by mid-October.