New Rule to Promote Use of ECTS

11 March 2019

The Nepal Rastra Bank, the central bank of Nepal, has allowed commercial banks to issue payment instruments in foreign currency for cargo transported by railway to the Birgunj dry port and Biratnagar customs point. The Nepal Rastra Bank published the new provision in a circular on 18 March 2019.

The move aims to encourage importers to make full use of the electronic cargo tracking system (ECTS) for third country import. The new rule will expand the use of ECTS, which Indian Railways is already using for cargo bound for Birgunj and Biratnagar, Nepal.

ECTS uses satellite-based global positioning system to allow shippers and customs officials to track consignments during transport. It was piloted in April 2018 for cargo from Kolkata and Visakhapatnam ports.


Related Link:
India Prime Minister Narendra Modi and Nepal Prime Minister KP Sharma Oli jointly inaugurated the Integrated Check Post...

Read More


The Governments of Bangladesh and India held a Commerce Secretary-level meeting on 15-16 January 2020 in New Delhi,...

Read More


Mr. Hasan Mahmud, Information Minister of Bangladesh, and Mr. Subrahmanyam Jaishankar, External Affairs Minister of India, underscored in...

Read More


Mr. Mukhtor Khamudkhanov, Country Director for Asian Development Bank in Nepal, is hopeful that Sri Lanka could benefit...

Read More


The Asian Development Bank (ADB) has committed to a loan of $195 million...

Read More


The Governments of Bhutan and India held their second bilateral development cooperation talks on 29 November 2019 in...

Read More


A review of the Nepal-India Transit Treaty held in Kathmandu, Nepal discussed various issues on simplifying Nepal’s transit...

Read More