Mahalaxmi Bikas Bank Urges Customers to Update Their PAN Details

Kathmandu, October 14 — Mahalaxmi Bikas Bank Limited has urged all its customers to update their Permanent Account Number (PAN) in their bank accounts. The bank issued a public notice stating that, as per the Unified Directive No. 9/2076-81 issued by the Nepal Rastra Bank, it is mandatory for customers to link their PAN details with their accounts.

According to the bank, individuals maintaining fixed deposits above NPR 5 million or earning interest income on such deposits must mandatorily provide their PAN number. The bank emphasized that without a PAN, the tax deducted on interest payments (E-TDS) cannot be properly recorded under the customer’s account, which may cause discrepancies during tax reconciliation.

Once the PAN details are updated, the customer’s E-TDS tax records will automatically match under the PAN number, making it easier to obtain tax clearance certificates from the Inland Revenue Department.

Customers can update their PAN and KYC details by visiting the nearest branch of the bank or by using the bank’s website (www.mahalaxmibank.com) or the Mahalaxmi Smart Sathi mobile banking app under the Online KYC Form section.

The bank further requested that even customers who have previously submitted their PAN should contact their nearest branch if their tax deduction records have not yet been reflected.

For any inquiries or assistance, customers can contact the bank’s central office at Durbar Marg, Kathmandu, or call the toll-free number 16600115015.