A NICCI delegation, led by President Sunil KC, met with NRB Governor Dr. Bishwo Nath Poudel at the latter's office on Wednesday. (Photo: NICCI)
The Nepal-India Chamber of Commerce and Industry (NICCI) today called on the Nepal Rastra Bank (NRB) to ease regulations on dividend repatriation, cross-border payments, and working capital guidelines to facilitate smoother business operations for Indian multinational companies in Nepal.
A NICCI delegation, led by President Sunil KC, met NRB Governor Dr. Bishwo Nath Poudel and highlighted key challenges faced by Indian joint ventures. KC emphasized, "Indian joint ventures are major contributors to Nepal’s economic growth and employment. We urge the central bank to simplify processes for foreign investors."
Berger Paints’ Saibal Ghosh pointed out the lengthy repatriation process, stating that companies must submit multiple documents, while foreign employees can remit only 70% of their salaries. Dabur Nepal’s Sumitra KC raised concerns over inefficiencies in the Single Window Service Center, leading to redundant paperwork.
Asian Paints’ Chief Financial Officer (CFO) Sameer Shrestha requested relaxed remittance rules, noting that prior NRB approval is required for payments exceeding INR 100,000 for Indian firms and US$ 5,000 for others. Sanima GIC’s Kunal Kayal urged the NRB to make working capital guidelines more practical.
In response, Governor Poudel assured that repatriation approvals would be processed within 14 days and pledged to address genuine concerns under NRB’s jurisdiction. "We are committed to resolving these issues positively," he said.
The discussion also touched on increasing cash limits for Indian tourists and expediting export incentives to boost Nepal’s competitiveness abroad.
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