Starting Magh 1, it will be mandatory to provide a National Identity Card or its number when opening a bank account. Nepal Rastra Bank amended its “Integrated Directives, 2080,” requiring banks and financial institutions to implement this rule.
According to the revised directive, from Magh 1, 2081 banks and financial institutions must ensure accounts are opened based on the National ID or its electronic record.
The directive also mandates customer identification and verification when withdrawing government payments from bank accounts.
Additionally, Nepal Rastra Bank has instructed all high-ranking individuals to update their National ID details by Magh 1. Mechanisms have been introduced to classify high-ranking individuals, identify their families, and verify close relationships.
The retention period for records of high-ranking individuals has also been extended. Previously, banks had to keep these records for five years after the individual left their position. Now, this period has been increased to 10 years, as stated in the revised directive.
