Kumari Bank PAN Update: Mandatory For NPR 5M+ Fixed Deposits & NRB Compliance
4th July 2025, Kathmandu
Kumari Bank has issued an important notification requesting all customers to update their Permanent Account Number (PAN) in line with the unified directive No. 078/080 issued by Nepal Rastra Bank (NRB).
Kumari Bank PAN Update
As per this regulation, banks and financial institutions are required to collect PAN details from customers holding fixed deposits of NPR 5 million or more. This step is crucial to ensure proper reporting of tax deducted at source (TDS) on interest payments under the Income Tax Act 2058.
Updating PAN allows Kumari Bank to correctly report interest income and deducted tax details to the government’s E-TDS system. This automatic matching benefits customers by simplifying the process of obtaining tax deduction certificates and ensuring transparency in tax compliance.
Customers are strongly advised to update their PAN details by visiting the nearest Kumari Bank branch or by using the “PAN Update” feature within the Kumari Smart Mobile Banking app. Those who have previously submitted PAN but do not see their tax deduction records reflected should also promptly contact their branch for correction.
This mandatory update helps maintain compliance with Nepal’s tax regulations and promotes seamless banking and taxation processes for Kumari Bank’s valued customers.
About Kumari Bank
Kumari Bank Limited, established in 2001, offers a wide range of personal banking services across Nepal. With over 300 branches and 250 ATMs nationwide, the bank ensures easy access and convenience for its customers.
The bank provides various savings and deposit accounts, such as the Kumari Premium Salary Account for salaried individuals and Fixed Deposit Plus for higher returns. It also promotes youth savings with accounts like Hereko Herai Bachat Khata and family savings through Pariwar Surakshya Bachat Khata.
Kumari Bank embraces digital banking with its Kumari Smart Mobile Banking app, internet banking, and missed call banking services, allowing customers to manage their accounts and make payments easily. The bank also offers secure debit and credit cards, along with QR payment options for seamless transactions.
Additionally, Kumari Bank provides home loan financing and safe deposit locker services for secure storage. Overall, the bank focuses on excellent customer service and delivering financial solutions that meet diverse needs throughout Nepal.
For more:- Kumari Bank PAN Update
