Kathmandu, February 2: The Nepal Rastra Bank (NRB) has termed making or receiving international payments for advertisements in the social media platforms through informal channels as illegal.
“Legal action will be taken against the companies and agencies involved in business transactions related to the advertisements published on the social media platforms like Facebook, Twitter, Instagram, and Youtube through hundi, illegal cards, and other illegal means,” warns the NRB while issuing a notice recently.
Anyone can opt for advertising free of cost or after taking permission from the central bank. Nevertheless, making or receiving foreign currency payments through informal channels like hundi is illegal, according to the central bank.
Arguing that such illegal modes of payments for social media advertisements would promote foreign currency misappropriation, it also urged all advertisers on social media to make transactions only through banking channels.
