The Nepal Rastra Bank (NRB) has introduced restrictions on the transfer of government funds using account payee (A/C payee) cheques.
Under the new provision, government offices are not allowed to deposit an account payee cheque into any bank account other than that of the designated recipient organization. Earlier, some government offices were transferring funds to third parties through account payee cheques.
The restriction was introduced through the second amendment of the Government Transactions Directive 2019. According to NRB, the measure aims to improve transparency and reduce financial risks in the disbursement of state funds, including reimbursement of grants and deposits.
