Nepal Rastra Bank (NRB) has allowed Indian citizens working in Nepal to transfer money to their country via banking system.
Such a provision has been made by amending the relevant section of the Consolidated Circular 2080 of the NRB on foreign exchange transactions for licensed bodies.
According to the NRB, Indian citizens working in Nepal now can send IRs 15,000 to India per day and IRs 100,000 per month.
“An Indian citizen working in Nepal can transfer IRs 15,000 per day and up to IRs 100,000 per month to their personal bank accounts in India through e-banking, inter-banking or mobile banking system or QR Code under the national payment switch of Nepal,” reads the circular issued by the NRB.
However, related banks and financial institutions (BFIs) should make arrangements so that the limits mentioned in sub-sections 1 and 2 are also applicable to such similar facilities.
Meanwhile, the NRB has asked all regional offices including the subordinate banking departments, banks and financial institutions licensed to conduct foreign exchange transactions, and all related agencies to make necessary arrangements.
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