PAN number mandatory for loan above Rs 5m

July 25, 2019

My Republica, July 24, 2019

KATHMANDU: Nepal Rastra Bank has made mandatory provision to possess PAN number for those seeking loans above Rs 5 million.

Now onward, bank and financial institutions are obliged to ask PAN number before issuing the loan, according to the monetary policy revealed on Wednesday. Earlier, an individual getting a bank loan of more than Rs 10 million needed to have a PAN number.