Elon Musk announced 'X Mail' as an alternative of Gmail

In the bill to amend the Act on Banks and Financial Institutions, 2073, a provision has been proposed that digital banks can also conduct banking and financial transactions.

Given the fact that the hype around the viral Gmail closure message is still swirling around, I would advise caution about responding to any messages on any platform that relate to your Gmail account or further information about closures. The same advice goes for messages concerning Musk’s Xmail. It’s likely cybercriminals will seize the opportunity to exploit confusion and distribute phishing messages with malicious intent.

In the bill registered in the House of Representatives, it is proposed that the digital bank can conduct banking and financial transactions and also recognize the digital currency issued by Nepal Rastra Bank.

It is mentioned in the amendment that digital bank can also carry out banking and financial transactions including taking deposits, granting loans as prescribed by the National Bank.

In the amendment, the system of accepting and paying digital currency has been added. This new arrangement has been proposed for the use and promotion of digital currency.

It is also proposed to give legal validity to the amount deposited through electronic means. Earlier there was no such provision in the Act. In the amendment, payments and loans made through electronic means are included in the definition of electronic transactions.