Nepal Rastra Bank (NRB) has revoked the operating licenses of two money changers.
In a notice issued today, the Foreign Exchange Management Department of the central bank announced the cancellation of the licenses of Union Currency Exchange located in Mitranagar, Kathmandu, and KTM Om Money Exchange situated in Thamel.
According to the notice, the licenses were revoked under Sub-regulation (3) of Regulation 19 of the Money Changer License and Inspection Regulation, 2077 (2020) for failing to renew their permits within the prescribed time period.
