Nepal Rastra Bank (NRB) has cautioned the general public to take necessary measures while using the branchless banking service being provided by banks and financial institutions (BFIs).
Amid growing cases of fraud being reported in the branchless mechanism, the banking sector’s regulator has advised individuals concerned to take precautionary measures to remain safe while carrying out financial transactions. NRB in this regard issued a public notice on Wednesday.
The central bank has asked the service seekers to carry out transactions only with the representatives authorized by the BFIs concerned. Similarly, service seekers are advised to use only electronic platforms to do their financial transactions.
Furthermore, NRB has urged the users of branchless banking to receive printed slips or audio messages of transactions for confirmation. Likewise, the amount to be deposited as monthly installments for the payment of loans and withdrawal of money from the branchless system should be verified properly.
The public can report any suspicious transaction or grievances through NRB’s hotline number 4415158 or email id gunaso.nrb.org.np, NRB said.
